Shareholders have directed the Board of Omatek Ventures Plc to raise capital by allotting the company’s unissued 4,058,210,528 ordinary shares through any method they may deem fit.
The approval was given at the 12th & 13th Annual General Meeting of Omatek Ventures held in Lagos.
The shareholders noted that raising capital by allotting the unissued shares would help to strengthen the company’s capital base
Methods of capital raise: According to a notice detailing the AGM resolutions, the capital raise could either by way of a rights issue, public offer, private placement, issuance of other capital or money market instruments, conversion of debt to equity, book build and or other securities they may be deemed fit for the purpose.
The back story: Recall that the shareholders recently decried the inability of the Board of Omatek Venture to revamp the company and reposition it on the path to profitability ever since the death of the founder Mrs Florence Seriki.
Reacting to this development in an exclusive chat with Nairametrics, the Chairman of Issuers and Investors Alternative Dispute Resolution (IIADRI), Mr Moses Igbrude, said:
- “We know the efforts the woman put in place to grow the company before her unfortunate death. However, as a quoted company, the death of the founder should not be the end of the company.”
Until her death on March 3, 2017, at the Lagos University Teaching Hospital (LUTH), Mrs Seriki was one of Nigeria’s pioneers and foremost indigenous Original Equipment Manufacturers (OEM) that specialised in the manufacturing of computers and other ICT-related devices.
Other AGM resolutions: During the AGM, the shareholders elected Mr Temidayo as a director of the company. Some other retiring directors who offered themselves for election were elected. Also, the resignations of Otunba Dr S. A. Oladunni and Professor Ayodele Ogunye were approved.
New members of the company’s audit committee were appointed.
