BrandArena: Red Star Express Announces Upcoming AGM

Tuesday 16 July 2019

Red Star Express Announces Upcoming AGM

One of Nigeria’s leading logistics Company, Red Star Express Plc has disclosed that its 26th Annual General Meeting (AGM) will be held on August 8th 2019, at the MUSON Centre, Onikan, Lagos. In view of this, Shareholders are requested to update their records with the Registrars to ensure accuracy before dividends are declared.

The AGM is expected to handle issues such as presentation of Audited Financial Statement for the year ended March 31st 2019, reports of the Directors, Auditors, and Audit Committee, declare dividend, and Elect members of the Audit Committee, amongst others.

The Group Managing Director, Mr Olusola Obabori, revealed that he is hopeful that this year’s AGM will turn out well with profit as the case has been in preceding years. “Last year, Group turnover rose from N7.3 billion in 2017 to N8.41 billion in 2018; similarly, it rose from N6.6 in 2016 billion to N7.3billion in 2017. We have always done better than our the preceding years. We are however hopeful that this year, we will record a higher turnover than last year. Red Star Express is committed to wealth for shareholders, and appreciates their support at all times. We look forward to a well-organized and successful AGM”.

According to Olufemi Oluwole, Red Star Express Corporate Communications Manager, “Red Star is committed to providing value added logistics solutions that will be secure, prompt and effective. Over the years, we have put in much effort to render quality services to our customers, and at the end the year too, we try to appreciate our stakeholders. This year is not an exception. We are officially announcing to the public, most especially our stakeholders that the company’s AGM will be coming up on August 8th, 2019, and that Shareholders should update their records with the Registrar.

“Also, in accordance with section 359(5) of the Companies and Allied Matters Act, CAP 20 LFN 220, members can nominate another shareholder as a member of the Audit Committee, by giving notice in writing to such nomination to the Company Secretary at least 21 days before the Annual General Meeting. Also, some dividend warrants have remained unclaimed or are yet to be presented for payment or re-validation, and such affected shareholders are to contact the Registrar too”.

Red Star Freight is a subsidiary of Red Star Express. Red Star Express Plc is a Licensee of Federal Express (FedEx) Corporation, the world’s largest delivery solutions provider. The company has over 166 offices nationwide.

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