Shareholders of Med-View Airline Plc, have approved the proposed plan by its Board of Directors to recapitalize the company. Consequently, the shareholders unanimously ratified all resolutions presented by the Board at the Annual General Meeting, AGM, in Lagos last week.
Part of the resolutions passed include: “That the Directors be authorized to offer for subscription a total of 2,249,350,600 ordinary shares of 50 kobos each at a price to be determined by the Directors acting in the best interest of the company;
“the Director be and hereby authorized to enter into any agreements and or execute any other documents necessary for and /or incidental to affecting the resolutions above;
“the Directors be and hereby authorized to appoint any such professional parties and perform all such other acts and do all such other things as may be necessary for or incidental to effecting the above resolutions, including without limitation, complying with directives of any regulatory authority.”
The shareholders also ratified the proposal for the payment of dividend at the rate of 3 kobo per 50 kobo ordinary share and commended the bold step taken by the Board to recapitalize the airline, stressing that its operations is capital intensive.
Addressing shareholders at the meeting, the Chief Executive Officer, Med-View Airline, Alhaji Muneer Bankole said: “The company was able to increase its revenue by expanding to new markets such as Abidjan, Conakry and Dakar. The addition of these new destinations is in addition to the previous destinations of Accra, Monrovia, and Freetown, increasing our destinations in the West Coast to six.”
On the future outlook, Bankole stated: “We expect 2018 to be a year that will provide us with opportunities for growth and investment and within which we shall consolidate on our past achievements, take advantage of the projected growth the Nigerian economy will offer and deliver value to our shareholders.”