The Board Stanbic IBTC Plc will seek shareholders’ approval to establish a Debt Issuance Programme of up to ₦400 billion to issue diverse debt securities through various methods and terms, subject to the grant of all required approvals from the relevant regulatory authorities.
This was contained in the group’s notice of the Annual General Meeting seen by Naijaonpoint.
According to the notice, the company will also request that the directors are authorized to execute all necessary agreements and engage professional parties for the Company’s N400 billion Programme, including compliance with regulatory directives.
Additionally, to seek endorsement approve the ordinary resolution granting the Directors authority, contingent upon regulatory approval and Clause Seven of the Company’s Memorandum of Association, to raise additional equity capital of up to N150 billion via a Rights Issue or offer for subscription, with terms to be determined by the Directors.
At the upcoming AGM, the shareholders will also have the opportunity to consider and pass the following special resolutions: