The shareholders, who spoke during the company’s 53rd yearly general meeting in Lagos yesterday, also urged the interim management to urgently sort out anomalies that may have cast significant doubts on the company’s ability to continue on the path of sustainable profitability. At the meeting, the appointment of Dr. Alex Thomopolus as a director of the company was ratified alongside others with the Publisher of The Guardian, Lady Maiden Alex-Ibru, in attendance. Specifically, a shareholder of the company, Nona Awo, who asked for a representative of minority shareholders on the board, bemoaned the high level of the company’s borrowings, which currently stood at N18.8 billion. Another shareholder, Sotunde Sopeju, urged the board to resuscitate the company to the level of paying dividends to shareholders in the nearest future.Meanwhile, the Interim Chairman, Chief Anthony Idigbe, stated that the management is working tirelessly to unlock the inherent value of the company and improve shareholders’ value on investment. He said the revenue for the period ended December 31, 2017 increased by 69.7 per cent to N4.9 billion, from the year ended June 30, 2016.

Source: The Guardian June 01, 2018 04:18 UTC