FBN Holdings: We Were Not Aware Of Court Order Stopping Our AGM

FBN Holdings Plc says its 10th annual general meeting (AGM) was duly held with all requisite regulatory and statutory parties in attendance.

A news report had claimed the federal high court sitting in Lagos granted an ex-parte order against FBN Holdings and some other respondents.

But in a statement responding to the report, Adewale Arogundade, acting company secretary, said FBN Holdings “remained unaware of any lawsuit or court order against it until about 3 pm on July 18 when it received a copy of the order”.

The company’s AGM was held almost a month ago.

“In accordance with Nigerian Exchange Limited (NGX) Rulebook, we hereby notify NGX and the investing public that our attention has been drawn to an online publication dated July 17, 2022, stating that the Federal High Court sitting in Lagos, Nigeria, has granted an ex parte Order against FBN Holdings Plc and some other Respondents,” the statement reads.

“FBN Holdings Plc remained unaware of any lawsuit or court order against it until about 3 pm today when a copy of same was served on it. The exparte order essentially directs FBN Holdings and the other respondents to maintain status quo ante bellum prevailing before FBN Holding Plc’s 10th Annual General Meeting (AGM) held 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.”

FBN Holdings said the matter was adjourned till July 22, 2022, and briefed its lawyers to review the ex parte order to ensure representation in court.

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