August 12, 2022

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We’re not conscious of lawsuit, court docket order stopping annual AGM – First Financial institution


First Financial institution Holdings Plc has denied information of a lawsuit or court docket order stopping it and different respondents from holding its 10th Annual Normal Assembly (AGM).

Though the financial institution later acknowledged the stated court docket order which was served on it 3pm (as we speak) 18th July, 2022, the financial institution said additional that its consideration was drawn to the exparte order via a web-based publication dated July 17, 2022.

Within the stated court docket order, the Federal Excessive Courtroom sitting in Lagos Nigeria, had granted an ex parte order in opposition to FBN Holdings Plc and another respondents, directing it and different respondents to take care of establishment ante bellum prevailing earlier than FBN Holding Plc tenth Annual Normal Assembly (AGM) which was held on June 20, 2022.

The exparte additional said that the AGM be stopped pending the listening to and last dedication of the movement on discover for interlocutory injunction.

However whereas clearing air on the matter in an announcement signed by Adewale Arogundade Performing Firm Secretary on Buyers’ Relations and made out there to Blueprint, the financial institution insisted that the court docket order was served on it 18th July by 3pm.

The assertion reads partly: “In accordance with Nigerian Change Restricted (NGX) Rulebook, we hereby notify NGX and the investing public that our consideration has been drawn to a web-based publication dated July 17, 2022, stating that the Federal Excessive Courtroom sitting in Lagos, Nigeria, has granted an ex parte order in opposition to FBN Holdings Plc and another Respondents.

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“FBN Holdings Plc remained unaware of any lawsuit or court docket order in opposition to it till about 3pm as we speak when a duplicate of the identical was served on it.

“The exparte order primarily directs FBN Holdings and the opposite Respondents to take care of establishment ante bellum prevailing earlier than FBN Holding Plc tenth Annual Normal Assembly (AGM) held on June 20, 2022 pending the hearing-and last dedication of the movement on discover for interlocutory injunction. 

“With out prejudice to the stated court docket order, FBN Holdings Plc confirms that the topic, AGM, was duly and validly held with all requisite regulatory and statutory events in attendance.

“FBN Holdings Plc has briefed its attorneys to overview the stated exparte order to make sure its full illustration in court docket on July 22, 2022 to which similar was adjourned.

“We want to reassure the investing public, our esteemed clients and different stakeholders that, we’re conscious of our mandate to our shareholders and can proceed to work tirelessly to discharge these tasks in compliance with regulatory authorities within the method anticipated of a Firm listed on the Premium Board of NGX Change Restricted.”