Lagos - As part of efforts to strengthen its governance and make it a more efficient and profitable organisation, shareholders of Ecobank Transnational Incorporate (ETI) are set to amend the Articles of Association of the company.
The proposed amendment would be made at the sixth Annual General Meeting and Extra-Ordinary General Meeting (AGM) slated for June 30, in Lome, Togo, reports ThisDay.
Under the new arrangement, the bank shall not undertake any acquisition, merger or disposal of the company’s assets whose value is equal to or above 20 percent of the book value of the company without the approval of a simple majority of the shareholders present in General Meeting.
To give the amendments the regulatory backing, the bank has notified the Nigerian Stock Exchange (NSE) of the impending changes.
Read more at ThisDay.
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