Demutualisation: NGSE Holds EGM, Seeks Nod For Employee Share Scheme

Plans for the demutualization of the Nigerian Stock Exchange NSE) may have entered the next stage, with the announcement Tuesday by the management of plans for an extraordinary general meeting slated for March 3, 2020, in Lagos.
At the meeting, members of the exchange will be required, among others to vote, by a single resolution that the present council transforms into, and be appointed into the inaugural board of Nigerian Stock Exchange Group Plc.
Members of the exchange are expected to vote that, post-demutualization, Otunba Abimbola Ogunbanjo; Oscar Onyema; Dr. Umaru Kwairanga; Dr. Okechukwu Crescent Itanyi; Mrs. Nimi Akinkugbe; Mrs. Fatimah Bintah Bello-Ismail; and Oluwole Adeosun become directors of the NSE.
Others, according to the notice by Mojisola Adeola, council secretary, are Chidi Agbapu; Patrick Ajayi; Prof. Enase Okonedo; Ikpobe Apollos Oghooritsewarami; and Mrs. Ojinika Nkechinyelu Olaghere.
As a special resolution, the meeting will also consider and vote for or against a special resolution authorizing the directors “to do all such things and exercise such powers as may be necessary to establish an employer share ownership plan for the benefit of qualifying employees of Nigerian Stock Exchange Group Plc, and its subsidiaries, subject to the applicable laws and regulations, approval of and receipts of shareholder approval and such other relevant regulatory approval.”

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