Patricia and TraceTV Unveil First Partnership with the Patricia Evolution Series – Nairametrics

VFD Group has held its 4th Annual General Meeting (AGM), in line with the social distancing rules of the Securities and Exchange Commission (SEC) and Corporate Affairs Commission (CAC) in view of the Covid-19 Pandemic.

At the 1st Open Virtual AGM (OVA), the financial institution got the approval of its financial statements for the fiscal year 2019 by the shareholders, declared a dividend of N3.30 kobo per 50 kobo share payable as of May 1, 2020; appointment of a new director and re-election of retiring directors. Other agenda of the meeting was the appointment of new external auditors and members of the statutory audit committee.

The OVA accorded every shareholder an opportunity to vote on all the resolutions presented before members, under the chairmanship of Mr Olatunde Busari (SAN). The meeting, which was held via Zoom and live-streamed on YouTube with access to the general public, is a remarkable feat indicative of the Companys transparency.

READ ALSO: Transcript of VFD Groups conference call for FY 2019 results presentation

Busari said, VFD Group has shown its commitment to world-class governance and transparency by being the first public company to organise an OVA that accorded all shareholders an opportunity to vote. We strongly believe that our capital market and public companies will be better governed if every shareholders vote counts every single vote. It is on record that we had 100% participation of all shareholders in the voting process. He urged the regulators to make polling in AGMs for public companies compulsory and also introduce virtual voting to enable every shareholder to cast his or her vote, regardless of geography.

Speaking on the Groups financial performance, the Group Managing Director, Mr Nonso Okpala, said, VFD Group Plcs performance in 2019 has provided the foundation for its emergence as the leading investment company in Nigeria with interest in key sectors of the Nigerian economy. In 2020 and beyond, we will seek to integrate these companies in order to establish a value ecosystem for enhanced efficiency and compelling offering to over a hundred million Nigerians. The base of that ecosystem is our investment in VFD Tech and its recent launch of Nigerians #1 virtual bank called V by VFD which is available on the Apple App Store or Google PlayStore http://www.vbank.ng

Members also approved the appointment of Mr Chuks Ozigbo, as a Director of the Company. It also re-elected Mr Olatunde Busari (SAN), Mr Suleiman Lawal, Mr Azubike Emodi, Dr Samuel Maduka Onyishi and Ms Jewel Okwechime as Directors.

READ MORE: VFD Group Plc appoints new Director

The meeting further served to appoint Deloitte & Touche as the External Auditors of the Company, as well as approve the election of members of the Statutory Audit Committee.Following the General Meeting, the Board of Directors still comprises 13 members including 5 Executive Directors and two Independent Directors.

About VFD Group Plc:

VFD Group Plc is a proprietary investment company with a vision to be a commercially viable investment company with global influence focused on building positive and socially conscious ecosystems. The Group has an investment interest in banking, real estate, technology, hospitality, leasing, financial advisory, remittance and asset management.

The Company was incorporated with the Corporate Affairs Commission (CAC) on 7th July 2009 and commenced business operations the same year.

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Patricia and TraceTV Unveil First Partnership with the Patricia Evolution Series - Nairametrics