Co-op Bank to hold a virtual Annual General Meeting mid-next month
The meeting will be streamed live via a link provided to all shareholders who have registered to take part
Cooperative Bank will hold its 17th Annual General Meeting (AGM) on May 16.
The lender announced this through a newspaper notice to its shareholders.
The AGM is expected to be held virtually as previously done, following amendments to the law governing annual general meetings after the Covid-19 outbreak.
“Notice is hereby given that the Seventeenth Annual General Meeting of the Cooperative Bank of Kenya Limited will be held via electronic communication on Friday, 16 May 2025 at 11.00 am,” Co-op Bank company secretary Samuel M. Kibugi said in the notice.
Kibugi noted that the AGM will be streamed live via a link provided to all shareholders who have registered to participate in the general meeting.
Duly registered shareholders and proxies will receive a short message service (SMS/USSD) prompt on their registered mobile numbers, 24 hours before the AGM, acting as a reminder of the meeting.
A second SMS/USSD prompt shall be sent one hour ahead of the AGM, reminding duly registered shareholders and proxies that the AGM will begin in an hour and providing a link to the live stream.
During the AGM, the shareholders are expected to conduct the ordinary and special business of the Bank.
In the ordinary business, they are expected to receive and consider, and, if approved, adopt the Audited Consolidated Financial Statements of the company for the financial year ended 31st December last year, together with the directors’ and auditors’ report.
They will also be expected to approve and declare a first and final dividend of Ksh 1.50 per share in respect of the year ended 31st December last year, which was paid to the shareholders on the register as at the close of business on Monday of this week.
Co-op Bank recorded a net profit of Ksh 25,456,345 in 2024, an increase from Ksh 23,188,365 registered in 2023.
Co-op Bank shareholders are also expected to approve and authorise the remuneration of the directors for the year ended in December and fix their remuneration of the directors.
They will also appoint KPMG as auditors of the company, having expressed their interest to be so appointed, and to authorise the directors to fix their remuneration.
Further, the shareholders will also elect directors and members of the Board Audit Committee.
