Vitafoam Proposes Cancellation Of 1.149bn Shares Extraordinary General Meeting

Directors of Vitafoam Nigeria Plc, have scheduled an extraordinary general meeting on Wednesday, November 16, 2022 in Ikeja, Lagos, wherein for which they want shareholders to consider and approve the cancellation of the company’s 1,149,155,936 unissued ordinary shares.

Consequently, shareholders are also being asked to amend Clause 5 of the Memorandum of Association and Article 3 of the Articles of Association reducing the company’s share capital to N625,422,032 dividend into 1,250,844,064 ordinary shares, according to a notice dated September 1, 2022, signed by Olalekan Sanni, the company secretary/legal adviser and filed on the NGX Exchange platform on Friday, October 14, 2022.