Veritas Kapital seeks shareholder approval for board pay and appointments

Veritas Kapital Assurance Plc will seek shareholders’ approval for board remuneration and other governance matters at its 49th Annual General Meeting on October 16. The insurer will ask members to approve the remuneration of its non-executive directors for the year ending December 31, 2026. It will also seek approval to appoint Planet Governance Advisory Limited as its board evaluation consultant.

Three directors retiring by rotation—Babatunde Irukera, Paul Oki and Emmanuel Etuh—have offered themselves for re-election under the Companies and Allied Matters Act 2020. Shareholders are also expected to elect members of the statutory audit committee. Under the Act, the committee must consist of five members: three shareholders and two non-executive directors.

The company said nominees were required to be financially literate and capable of reading and understanding financial statements, in line with the Nigerian Code of Corporate Governance. Beyond governance matters, the meeting will consider the company’s audited financial statements for the year ended December 31, 2025, along with the reports of the directors, external auditors and audit committee. Shareholders will also be asked to authorise the board to determine the remuneration of Ernst & Young, the external auditors.

The meeting will be held virtually, allowing shareholders, regulators and other stakeholders to follow the proceedings remotely. Members may submit questions, observations and comments, but the company said these must reach its secretariat at least seven days before the meeting. Veritas Kapital said its register of members would be closed from October 1 to October 15, both days inclusive.

It also reminded shareholders about unclaimed dividends and urged those without e-dividend mandates to update their records with Unity Registrars Limited.