FBN Holdings explains court order against AGM

By Adeleye Kunle

FBN Holdings Plc has explained its position in response to the Federal High Court issuing an ex-parte order against it and some respondents in relation to its 10th Annual General Meeting, AGM, emphasizing that the meeting was duly and validly held with all required regulatory and statutory parties in attendance.

FBN Holdings Plc remained unaware of any lawsuit or court order against it until about 3 p.m. today (Monday), when a copy of same was served on it, according to a statement sent to the Nigerian Exchange Limited, NGX, and signed by FBN Holdings Acting Company Secretary, Adewale Arogundade. The ex parte order essentially directs FBN Holdings and other Respondents to maintain the status quo ante bellum that existed prior to FBN Holdings Plc’s 10th Annual General Meeting on June 20, 2022, pending the hearing and final determination of the motion on notice for interlocutory injunction.”

“Without prejudice to the said court order, FBN Holdings Plc confirms that the subject AGM was duly and validly held with all requisite regulatory and statutory parties in attendance,” the statement continued. FBN Holdings Plc has instructed its lawyers to review the said exparte order in order to ensure its full representation in court on July 22, 2022, which has been adjourned.”

The post FBN Holdings explains AGM court order appeared first on Track News.