CORPORATE NEWS FROM NIGERIA AND KENYA

NIGERIA:

AXA MANSARD TO INVEST IN HOSPITAL.
AXA Mansard Insurance PLC is presently having consultations with International Finance Corporation on plans to co-invest along side other companies in an integrated hospital project

According to a notice signed by its company secretary, Omowunmi Adewusi, the project is to be called Greenfield integrated medical facility.

It will comprise a multi specialty hospital and two 10-bed primary healthcare centres/polyclinics.

"Once approved" declared Adewusi, the project "will be manakged and operated by Health share Health Solutions ltd," with headquarters in South Africa.

However, talks are still preliminary and the boards of both the IFC and AXA Mansard are yet to pass any formal result ions on it.

UBA PLC

At the next Annual General meeting of UBA PLC the issue of the legality of the meeting itself will be the number item to be resolved.

This is because, says company secretary, Bili Odum, the legally required 21 days notice before any AGM was not met.

Hence, shareholders will from the start of the meeting will be asked to vote by show of hands to pass a resolution saying the meeting was duly called in spite of the lapse.

Odum says the relevant portion of the law on the matter is interpreted differently by companies and that UBA own interpretation is to seek resolution of shareholders present at the affected AGM.

AFRICAN ALLIANCE INSURANCE

Mrs Olufunmilayo Omo has been appointed the acting managing director /CEO of African Alliance Insurance plc .

According to a release from the company she replaces Mr Alphonse Okpor who retired from March 4, 2017 after attaining the right age.

The acting CEO graduated from the University of Lagos and has over 15 years experience in life insurance and pension business.

She joined AA as assistant superintendent in 1991 and by 2004 had risen to become controller, incharge of individual business

In 2006, she was promoted assistant general manager and by 2012 was appointed to the board as executive director, technical.

She is a certified insurer; and a member of the Nigerian Institute of Management.

KENYA:

EAGADS LTD

The directors of Eagads ltd have resolved to outsource the management of the company's coffee operations to a coffee management company: Coffee Management Services ltd.

According to a formal notice from the company to Nairobi Securities Exchange, more information on the decision will be made available to shareholders after the Capital Markets Authority of Kenya formally gives its approval.

Meanwhile, for now, investors are advised to exercise caution accordingly while dealing in the shares of the company.



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