NIC group has announced its annual general meeting to be held on 17th April at KICC. The meeting will be attended by the company’s directors, shareholders, and other authorized persons. According to a notice published in the dailies, several matters will be discussed at the AGM.
One of the key matters to be discussed at the AGM is the proposed merger of NIC bank with CBA group. NIC shareholders are expected to discuss extensively all matters pertaining to the merger including possible change of name. As at the start of March, majority of CBA group investors had approved the merger by signing the acceptance forms.
NIC investors will also elect new company directors or re-elect eligible members to the board as outlined in the company’s act. NIC’s chairman J.P. Ndegwa and P.V. Shah are some of the board members up for re-election.
Additionally, NIC group’s shareholders will appoint the company’s external auditors for the financial year 2019 in line with section 721(4) of the Companies Act.
