FTN Cocoa Processors Plc has released the resolutions passed at its 15th and 16th Annual General Meetings (AGM) held virtually on Thursday, September 25, 2025, and streamed live on the company’s official YouTube channel.
The meetings presented and approved the Audited Financial Statements for the years ended December 31, 2023, and December 31, 2024, alongside the reports of the Directors, Auditors, and Audit Committee.
Shareholders also approved the re-election of High Chief (Sir) Simeon O. Oguntimehin and Otunba Adewale Jubril as Directors, following their retirement by rotation.
In addition, the Board was authorized to determine and fix the remuneration of the Independent External Auditors for the 2025 financial year.
For the Statutory Audit Committee, shareholders appointed Mr. Emmanuel Oladosu and Mr. Chinwendu Achara as representatives, while Otunba Adewale Jubril and Mr. Nathaniel Durant Jr. will serve as the Board’s representatives.
In line with Section 257 of the Companies and Allied Matters Act (CAMA) 2020, the remuneration of the company’s managers was disclosed.
Shareholders further resolved that directors’ fees remain unchanged at ₦5.8 million for the financial year ending December 31, 2025.
The company secretary, Joshua Oludayo Adeoye of Alpha-Genasec Limited, confirmed the resolutions on behalf of the Board.
