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Notice Of Annual General Meeting

NOTICE IS HEREBY GIVEN that the 7th Annual General Meeting of CAVERTON OFFSHORE SUPPORT GROUP PLC (COSG) will be held at the Civic Centre, Ozumba Mbadiwe Street, Victoria Island, Lagos, Nigeria on Wednesday the 11th of May, 2016 at 10 a.m to transact the following business:

ORDINARY BUSINESS:

  • To receive the Audited Financial Statements for the year ended 31st December 2015 together with the Reports of the Directors, Auditors and Audit Committee thereon.
  • To elect/re-elect retiring Directors.
  • To elect Mrs. Titi Adigun, who was appointed as an Executive Director by the Board since the last Annual General Meeting.
  • To elect Captain Josiah Choms, who was appointed as an Executive Director by the Board since the last Annual General Meeting
  • To authorize the Directors to fix the remuneration of Auditors for the ensuring year.
  • To elect/re-elect members of the Statutory Audit Committee.

 

SPECIAL BUSINESS:

  • To approve the remuneration of the Directors for the year ending December 31, 2016
  • To consider and if thought fit, to pass the following as Ordinary resolution:
  • To amend the Memorandum and Articles of Association (MEMART) of COSG to read as follows “Twenty Five members either in person or proxy who must hold at least 25% of the Issued Share Capital of COSG can constitute a quorum of members at meetings.

 

NOTES:

PROXY

A member entitled to attend and vote at the Annual General Meeting is entitled to appoint a proxy to attend and vote in his/her stead. Proxies need not be members of the Company. A blank proxy form is attached to the Annual Report .To be valid, a completed and duly stamped proxy form must be deposited at the office of the Registrar, United Securities Limited, 10 Amodu Ojikutu Street, Victoria Island, Lagos not less than 48 hours before the time fixed for the meeting.

Click here to Download 2015 AGM Proxy Form

 

CLOSURE OF REGISTER OF MEMBERS

The Register of Members and Transfer books of the Company will be closed on the 27 April, 2016 to enable the Registrar prepare the register of shareholders eligible to attend and vote at the meeting.

 

STATUTORY AUDIT COMMITTEE

In accordance with section 359(5) of the Companies and Allied Matters Act, 1990, any shareholder may nominate a shareholder for appointment to the Audit Committee. Such nomination should be in writing and should reach the Company Secretary at least 21 days before the Annual General Meeting.

 

SHAREHOLDERS’ RIGHT TO ASK QUESTION

Shareholders of the company’s securities reserve the right to ask questions not only at the meeting but also in writing on any matter, subject or issue contained in the Annual Report and Accounts. Such questions must be submitted to the Company Secretariat Department, COSG PLC, 1 Prince Kayode Akingbade Close, Victoria Island, Lagos on or before 4 May 2016.

 

BIOGRAPHICAL DETAILS OF DIRECTORS FOR ELECTION OR RE-ELECTION

Biographical details of Directors standing for election or re-election are provided in the Annual Report.

 

WEBSITE

A copy of this Notice and other information relating to the meeting can be found at www.caverton-offshore.com

 

DATED THIS 13th  DAY OF  APRIL, 2016

 

BY ORDER OF THE BOARD

 

 

AMAKA OBIORA

Company Secretary

FRC/2015/NBA/00000011302

 

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2015

 

The Group

The Company

 

31   Dec 15

31   Dec 14

31 Dec 15

31 Dec 14

 

 ₦’000

₦’000

₦’000

₦’000

 

Revenue

23,219,777

24,900,083

-

886,050

 

Gross Profit

8,614,737

10,931,792

-

886,050

 

Profit/(loss)Before Tax

1,767,129

2,729,896

-384,591

527,540

 

Taxation

-779,049

-1,750,594

-4,172

-170,371

 

Profit/(loss)After Tax

988,080

979,302

-388,763

357,169

 

Basic/diluted earnings per share (N)

0.29

0.29

-0.12

0.11