Banking Sector
LivingTrust Mortgage Bank Postpones 10th Annual General Meeting Over Legal Dispute
LivingTrust Mortgage Bank Plc has postponed its 10th Annual General Meeting originally scheduled for July 17, 2025 due to a pending lawsuit concerning the same subject matter.
In a formal disclosure to the Nigerian Exchange Limited and the investing public on Wednesday, the bank cited ongoing legal proceedings as the reason for the postponement.
The decision affects shareholders, institutional investors, and other stakeholders who had anticipated the scheduled AGM in line with corporate governance practices.
“This is to notify the Nigerian Exchange Limited and members of the public, particularly the shareholders of LivingTrust Mortgage Bank Plc, that the 10th Annual General Meeting of the Bank slated for 17th of July, 2025 has been postponed as a result of a pending lawsuit in respect of the same subject matter,” the statement signed by Dorcas Ajayi, Acting Company Secretary, read.
While the specific details of the lawsuit were not disclosed, the bank assured shareholders and stakeholders that a new date for the AGM will be communicated as soon as practicable.
The postponement comes at a time when regulatory compliance and shareholder engagement remain critical to listed companies. LivingTrust Mortgage Bank, based in Osogbo, is a licensed primary mortgage institution offering residential and commercial mortgage services to individuals and businesses across Nigeria.
Market participants will be monitoring the development closely, particularly as AGMs serve as a platform for approving financial statements, declaring dividends, and electing board members.
The bank’s shares remain listed on the Nigerian Exchange, and it is expected that further updates will be provided in accordance with NGX disclosure rules.