May & Baker Nigeria : AND BAKER-2024 AGM RESOLUTIONS

Lagos 7th June, 2024

RESOLUTIONS PASSED AT THE ANNUAL GENERAL MEETING OF MAY & BAKER NIGERIA PLC HELD ON 6th JUNE 2024

This is to inform you that the 73rd Annual General Meeting of MAY & BAKER NIGERIA PLC was held on 6th June, 2024 at the Muson Centre, Onikan, Lagos.

The resolutions tabled and duly passed and notations at the 73rd Annual General Meeting of MAY & BAKER PLC were as follows:

ORDINARY BUSINESS:

1. Laying of the Annual Report and Accounts for the year ended 31st December, 2023 before the meeting;
2. Disclosure of the remuneration of managers on page 105 of the Annual Report and Accounts;
3. Unanimous approval of a dividend of 30 kobo per share amounting to N517,570,465.80k (Five Hundred and Seventeen Million, Five Hundred and Seventy Thousand, Four Hundred and Sixty-five Naira, Eighty Kobo) for the year ended 31st December, 2023, before deduction of withholding tax;
4. Unanimous approval of the appointment of Mr. Michael Chineme Odumodu as a Director of the Company;
5. Unanimous approval of the re-election of Senator Daisy Danjuma and Mr. Kolawole Durojaiye as Directors of the Company;
6. Unanimous ratification of the appointment of Messrs Grant Thorton Nigeria as External Auditors and authorization of the Directors to fix their remuneration;
7. Unanimous election and approval of Mr. K.O. Durojaiye and Mr. M.C. Odumodu (representing the Board) and Mrs. Christie O. Vincent-Uwalaka, Mr. Oladimeji Bolaji Adeleke and Mr. Kalejaiye Kolawole (representing the shareholders) as members of the Audit Committee.

SPECIAL BUSINESS:

8. Unanimous approval of the remuneration of the Directors of the Company for the year ended 31st December, 2024 in the sum of N1,250,000 for each Non-Executive Director save the Chairman whose fees shall be the sum of N1,500,000.

MARINA NOMINEES LIMITED

Secretaries to the Company