Veritas Kapital Assurance Plc has announced that it will seek shareholders' approval for key board and governance matters at its 49th Annual General Meeting scheduled for October 16. The insurer will ask shareholders to approve the remuneration of its Non-Executive Directors for the year ending December 31, 2026. This move is part of the company's efforts to ensure transparency and good governance practices.
The company will also seek shareholders' approval for the appointment of Planet Governance Advisory Limited as its board evaluation consultant. This appointment is aimed at enhancing the company's board evaluation process and ensuring that the board is functioning effectively. The governance agenda also includes the proposed re-election of three Directors retiring by rotation, namely Babatunde Irukera, Paul Oki, and Emmanuel Etuh.
The three Directors have offered themselves for re-election in accordance with the Companies and Allied Matters Act 2020. Shareholders will also elect members of the Statutory Audit Committee, which is required to comprise five members – three shareholders and two non-executive directors. The company has specified that nominees for the audit committee must be financially literate and capable of reading and understanding financial statements.
The AGM will also consider Veritas Kapital's audited financial statements for the year ended December 31, 2025, as well as the reports of the directors, external auditors, and audit committee. Shareholders will also authorise the board to fix the remuneration of Ernst & Young, the company's external auditors. This is a routine process that ensures the company's financial statements are accurate and reliable.
The AGM notice has drawn attention to shareholder rights, with members allowed to submit questions, observations, and comments ahead of the meeting. The company has specified that questions must reach the company secretariat not later than seven days before the AGM. This move is aimed at ensuring that shareholders are fully engaged and informed about the company's activities.
The meeting will be held virtually, allowing shareholders, regulators, and other stakeholders to follow the proceedings remotely. The register of members will be closed from October 1 to October 15, 2026, both days inclusive. Veritas Kapital has also reminded shareholders of unclaimed dividends and urged those who have not completed their e-dividend mandates to update their records with its registrar, Unity Registrars Limited.
The company is taking steps to ensure that its governance practices are in line with best practices and regulatory requirements. The approval of the board governance matters will enable the company to maintain transparency and accountability in its operations. The outcome of the AGM will be a crucial step in the company's efforts to maintain good governance practices and ensure the trust of its shareholders.
Key points
- Veritas Kapital Assurance Plc to seek shareholder approval for remuneration of Non-Executive Directors and appointment of board evaluation consultant at its 49th Annual General Meeting.
