Meyer plans N218.6m rights issue, appoints MD, Company Secretary

Original Post Source

WorldStage Newsonline– Paint manufacturer, Meyer Plc has opened its rights issue of 291.5 million ordinary shares of 50 kobo each at 75 kobo per share.

According to the NSE’s weekly news report, the offer will help the company embark on factory refurbishment amongst other managerial needs.

While the acceptance list for the offer opened on Monday 9th January 2017, it is scheduled to close on Friday 10th February 2017.

Meanwhile, the company said that Mr. Akinnola has been appointed as the Company’s Managing Director.

The statement signed by the company’s Chief Compliance officer Phillip Nnadi and its finance Director Olukayode Tijani revealed that the company also appointed Mrs. Ifetola Fadeyibi as the Company Secretary on November 8, 2016, adding that both appointments were approved by the Board of Directors on November 8, 2016.

According to the statement, Mr Akinnola started his career in 1995 with Cadbury Nigeria Plc, where he spent about 15 years.

His career in the multinational company offered him unique opportunities to acquire relevant experiences in General Business Management, Strategy Development & Execution, Manufacturing, Quality, Health, Safety & Risks, Supply Chain Management, Project Management, Sales Operations and People Management.

In 2007, he was appointed Manufacturing Manager in charge of the Confectionery Business unit and had a short stint as a consultant between October 2010 and December 2011 with Jetstar Consulting Ltd, Lagos a consulting firm providing Technical consulting services to a broad spectrum of clients across FMCG, Processing, Printing and Packaging businesses.

In February 2012, Mr Akinnola joined UAC Foods Limited as General Manager, Operations and in July 2012, he was appointed General Manager, Supply Chain in an expanded role that included Procurement, Manufacturing, Sales Operations, Logistics and Distribution.

Before joining Meyer Plc in October 2016 as Managing Director, he had a brief stint with Dansa Foods Limited as General Manager, Operations and later as acting Managing Director.

the statement describes Mr. Akinnola as a highly focused and result-driven individual with an unwavering passion for excellence. He has over 20 years’ experience across various industries. As a professional, he has achieved leadership roles in various areas of functional responsibilities in the corporate environment with track record of outstanding achievements.

He holds a Bachelor degree in Microbiology from the University of Lagos and a MBA degree in Operations Management. He also holds professional certificates in Supply Chain Management from Canada & the USA. He has attended various developmental programs both within and outside the Country.

He belongs to a number of professional bodies including: Nigerian Institute of Management (NIM), Supply Chain Management Association (SCMA, Canada), Council of Supply Chain Management Professional (CSCMP, America) and Nigerian Institute of Food Science & Technology (NIFST). He is also a Fellow of the Institute of Logistics Management of Nigeria (ILMN).

On her part, Mrs Ifetola Fadeyibi graduated from Obafemi Awolowo University lIe-lfe, Osun State with a second class upper degree in Law in 2000 and was called to the Nigerian Bar in 2002. She began her legal practice as an intern at the Law Firm of Chris Ogunbanjo & Co. in 2000. She joined the Law Firm of Jackson, Etti & Edu in 2002 under the National Youth Service Corp programme and rose to the position of an Associate in the Firm till May 2008.

Thereafter, she joined the Company Secretariat and Legal Department of Capital Express Assurance Ltd (a life insurance company) in July 2008 as an Assistant Manager. In 2012, she briefly worked in the law firm of Kola Awodein SAN & Co, and later became the Company Secretary of Afromedia Plc. in August 2012, where she worked before her appointment with Meyer Plc. as Company Secretary.

She has cognate experience of over 14 years in legal and company secretarial services. She is a member of the Nigerian Bar Association and an Associate of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).

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