5th September, 2023

RESOLUTIONS PASSED AT THE 58TH ANNUAL GENERAL MEETING OF SMART PRODUCTS NIGERIA PLC HELD AT THE REGISTERED OFFICE OF THE COMPANY 373, AGEGE MOTOR ROAD CHALLENGE, MUSHIN, LAGOS ON THURSDAY 24TH AUGUST, 2023

DECLARATION OF DIVIDEND

A resolution was passed for the declaration of dividend of 8 kobo per 50 kobo share amounting to ₦3.6 million subject to appropriate withholding tax be and is hereby authorized for payment to the Shareholders in respect of the financial statements for the year ended 31st December, 2022. This was after a correction of the dividend amount from 10 kobo per share to 8 kobo per share as erroneously stated in some parts of the annual report.

  1. RE-ELECTIONOF DIRECTORS
    1. Mr. Ade Adeniji who retired in accordance with Section 273 (1) of the
      Companies and Allied Matters Act, 2020, being eligible for re-election was re-elected Director of the Company.
    2. Pastor Akin Laoye who retired in accordance with Section 273 (1) of the
      Companies and Allied Matters Act, 2020 being eligible for re-election was re- elected Director of the Company.
  3. Resolution to Authorize Directors to fix the remuneration of the external Auditors.
    The Directors were authorized to fix the remuneration of Messrs. Bakertilly (Chartered Accountants) who continue in office pursuant to the provision of Section 401 of the Companies and Allied Matters Act, 2020 in respect of the Financial Statements for the year ending 31st December, 2023 in compliance with Section 408
    (1) (b) of the Act.
  1. ELECTION OF AUDIT COMMITTEE MEMBERS

The following persons were elected to represent the shareholders on the Audit Committee:

  1. Baale Sunday O. Ogunnowo
  2. Mr. Olufemi Oduyemi
  3. Ganiyu Kolawole Alao

The following Directors were appointed to represent the Board on the Audit Committee:

    1. Pastor Akin Laoye
    2. Mr. Ade Adeniji
  2. APPROVAL OF DIRECTORS' FEE:

The sum of ₦2.45 million being Directors' fees paid in the previous year and being proposed for the year ending 31st December, 2023 was approved.

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Smart Products Nigeria plc published this content on 15 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 September 2023 14:12:09 UTC.