Dangote Sugar Refinery Shareholders Approve creation Of Three Billion New Shares
The Shareholders of Dangote Sugar Refinery (DSR) Plc have approved the creation of three billion new ordinary shares of 50 kobo each to increase the authorised share capital of the sugar company from N6 billion to N7.5 billion.
At their extra-ordinary general meeting in Lagos, shareholders approved resolutions increasing the authorised share capital of Dangote Sugar Refinery N6 billion of 12 billion ordinary shares of 50 kobo each to N7.5 billion ordinary shares of 50 kobo each through creation of three billion new ordinary shares of 50 kobo each.
Shareholders also authorised the change in the memorandum of association of the company to reflect the new increased share capital.
The company also effected many changes in its memorandum of association to comply with increasing digitisation and automation of messages and meetings, aimed at adapting to the COVID-19 business environment.
With the approvals by the shareholders, written resolutions given by letter or electronic mail purporting to have been initialed by or signed by a director shall be assumed to have been so initialed or signed.
Also, any director or his or her alternate may validly participate in a meeting of the board or a committee of the board through the medium of conference telephone or any other form of communications equipment, provided that all persons participating in the meeting are able to hear and speak to each other throughout such meeting.
