BY PETER EGWUATU

With unanimous decisions following two motions moved at their company’s Extra-Ordinary General Meeting held yesterday in Abuja, shareholders of Nigerian Aviation Handling Company Plc approved the Board’s two-point business agenda presented for their consideration as ordinary resolutions.

The issues presented for their endorsement include, proposal to approve the Management Support Agreement and of the transfer of assets of the company to NAHCO FTZ, a subsidiary outfit that will operate in a Free Trade Zone, as decided at the last Annual General Meeting of the company.

On the order of the Chairman and approval by the shareholders, the Managing Director, Mr. Kayode Ojo, spoke on the reasons why the MSA and transfer of assets to the subsidiary were presented by the Board for shareholders’ approval as ordinary resolutions, adding that the initiative will not only enhance operational efficiency and competitiveness of the company in the global aviation cargo handling industry but also translate to great economic benefits for shareholders and the country.

Explaining the importance of the two business issues listed for the shareholders’ approval, the company’s Chief Executive Officer said: “The purpose of the Management Support Agreement really is to enhance and consolidate on the reach that the company requires to deepen its management activities and without in a sense drawing a line between management and non- Executive Directors in terms of policy, influence and support.

“Two, the objectives will be to ensure that we get favourable responses with regards to a couple of things that affect our company within the country and possible issues of our inorganic expansion.

The last but not the least will be to ensure that we as an international company perform our activities benchmarked on standards that are similar to that which other companies that are operating in our industry, but not in our country, operates” Ojo added

On the strategic role the transfer of assets to NAHCO FTZ will play in the business operations generally, he added that “traditionally, companies that run the type of business that we run, facilitating international travels, have the benefits of enjoying tax exemptions and other opportunities of Free Trade Zone.

Unfortunately, NAHCO has operated for several years without that and through the period as a qualified business entity we did not seek for that.