The federal high court in Lagos has restricted FBN Holdings plc to hold its Annual General Meeting (AGM) hitherto set for Tuesday, while warning against disobeying the order.
The injunction is pending hearing and determination of the merits brought before it by three aggrieved shareholders of First Bank.
The court order is dated August 9.
The judge, Nicholas Oweibo, issued the order after hearing an ex parte application filed by Muiz Banire, a lead attorney representing the three petitioners: Olojede Solomon, Adebayo, Oluwafemi Abayomi and Ogundiran Adejare.
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“That an injunctive relief order is hereby issued restraining Defendant (FBN Holdings Plc), either directly by itself or indirectly through its directors, managers, officers, employees, servants, consultants, attorneys, agents , representatives, private, whatever- called, persons acting under their instructions and control, to celebrate or take any measure to celebrate, or proceed
with Respondent’s proposed Annual General Meeting scheduled to be held on August 15, 2023 by virtual means pending the hearing and determination of the Motion for Notice already pending before this Honorable Court,” the court order reads.
Contempt of court
On Monday, the court issued the warning to FBN Holdings Plc managing director Nnamdi Okonkwo in a Form 48 notice titled “Notice of Consequences of Disobedience to Court Order” following a request by three aggrieved shareholders of First Bank, owned by FBN. plc holdings
“Please note that unless you obey the instructions contained in this attached order, you will be held in contempt of court and may be sent to prison,” the letter says.
The lawsuit resumes on Wednesday.
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