UMEME hold AGM, shares investment updates & strategic direction to shareholders.
Drake Nyamugabwa
UMEME Uganda limited has held a successful Annual General Meeting (AGM) an engagement with shareholders at which they shared investment updates and the Company’s strategic direction.
The Chairman, Board of Director UMEME, Dr. Patrick Bitature, while addressing the shareholders at the 2024 Annual General Meeting (AGM); said that as the UMEME concession with government come to an end in 2025, there might be another meeting to address the status quo which may not be necessarily an AGM.
"This may be the last AGM as the concession comes to a natural end in March 2025. We shall call you for another meeting which may not be the AGM, it could be an EGM " he said
In the post AGM notice, released after the AGM that was held on 16th May 2024, the "Dividend which is subject to witholding tax, will be paid on or about 19th July 2024 to shareholders whose names appear on the Company’s register at close of business on 28th June 2024"
The shareholders were advised to contact their brokers to update their bank account details and those desiring to receive dividend payments through mobile money, were asked to send an email including the registered mobile number.
During the Annual General Meeting (AGM) of the Company held as a hybrid meeting, the shareholders passed the following resolutions including, Ordinary Resolutions Receipt and adoption of the annual audited financial statements for the year ended 31st December 2023, with the reports of the Directors and External Auditors.Declaration of a final dividend of Ushs 54.2 per ordinary share, Re-appointment of Ernst & Young as External Auditors of the Company for the year 2024, Re-election of Dr. Eng. Silver Mugisha as a Non-Executive Director among others.
