United Bank for Africa PLC and Transcorp have announced the cancellation of their 2019 Annual General Meetings to prevent the spread of COVID-19.
The companies stated this in a statement to their shareholders and stakeholders posted on the Nigerian Stock Exchange website.
The News Agency of Nigeria reports that UBA’s 58th AGM was initially slated for March 27 at the Eko Hotels & Suites, Victoria Island, Lagos, while Transcorp was to hold on March 25.
Bill Odum, UBA Group Company Secretary, said: “The Board of Directors of United Bank for Africa Plc hereby announces the cancellation of the Notice of Meeting of the 58th Annual General Meeting dated March 2, 2020.
“Consequently, the 58th Annual General Meeting which was previously scheduled to be held on Friday, March 27, 2020 at the Eko Hotels & Suites, Victoria Island, Lagos is hereby postponed.
“The cancellation of the notice and postponement of the AGM are hinged on part of UBA’s measures, as a good Corporate Citizen, to avoid the spread of the coronavirus (COVID-19).
“A new Notice of Annual General Meeting of the Bank will be published in due course.
“In this trying and uncertain period, the Board of United Bank for Africa Plc would like to assure all our customers, shareholders and other stakeholders that we are here for you throughout the crisis and beyond.”
In a related development, Transcorp in a statement signed by Chike Anikwe, its Group acting Company Secretary, said the postponement of the meeting was due to novel COVID-19.
Anikwe stated that the meeting, earlier scheduled for March 25, had been postponed till further notice.
He noted that the recent developments on COVID-19 and the need to follow the guidelines provided by the World Health Organisation, National Centre for Disease Control and Federal Government amongst others led to the postponement.