Legend Internet Plc has announced a series of key resolutions passed at its 2nd Annual General Meeting (AGM), held on November 7, 2025.
According to a statement signed by the Company Secretary, Erinma Onuoma, the meeting approved the company’s Audited Financial Statements for the year ended July 31, 2025, alongside the reports of the Directors, Auditors, and Audit Committee.
Onuoma confirmed that shareholders ratified the declaration of a ₦120,000,000 dividend, amounting to 6 kobo per share, payable on November 7, 2025. She stated that the payment applies to shareholders “whose names appeared on the register of members as at the close of business on 29th of October 2025.”
The AGM also saw the re-election of Non-Executive Directors, including:
Mr. Bruce Ayonote
Mr. Suleiman Arzika
Mr. Mondritz Ehianeta Ebhohimhen
Shareholders further approved authorising the Board to fix the auditors’ remuneration, while new representatives were elected to the company’s Statutory Audit Committee. Those elected as shareholders’ representatives are:
Mr. Kabiru Tambari
Mr. Patrick Ajudua
Mr. Abdullahi Umar
Board representatives to the Committee are:
Mr Ayodele Arogbo (Non-Executive Director)
Ms Ifeyinwa Georgina Umunnakwe-Okeke (Independent Non-Executive Director)
Onuoma added that the meeting approved the disclosure of management remuneration and ratified Directors’ fees, noting that “the Directors’ emoluments for the year ending 31 July 2025 be and are hereby fixed at 2,000,000.”
In a major strategic move, shareholders also endorsed two acquisition plans:
- A licensed Telecommunications and Internet Service Provider in Nigeria.
- A licensed Microfinance Bank.
The company also received approval to raise to ₦150 billion in additional capital and to increase its share capital by up to 10 billion ordinary shares of 50 kobo each, to rank equally with existing shares.
Additionally, shareholders approved the amendment of the company’s Articles of Association to set a simple majority as the quorum for Board meetings.
Concluding the statement, Onuoma noted that: “The Directors are hereby authorised to appoint such professional parties and advisers and perform all other acts as may be necessary to give effect to the above resolutions, including obtaining relevant regulatory approvals and without limitation complying with the directives of any relevant regulatory authority.”
News.ng reports that the decisions signal a strong expansion phase for Legend Internet Plc, particularly in telecommunications, financial services, and capital growth.
