The Annual General Meetings (AGMs) of Ikeja Hotel Plc and its investee company, Tourist Company of Nigeria (TCN), have been suspended indefinitely.
The decision stems from a July 18 ruling by the Federal High Court in Lagos, which ordered that the status quo be maintained within Ikeja Hotel, effectively freezing any moves that could influence ongoing litigation involving the company. Acting on the court’s ruling, the CAC directed that Ikeja Hotel suspend its AGM as well as any other statutory meetings until further notice.
According to the notice signed by the CAC’s Registrar-General, the directive was driven by the court ruling that the status quo should be maintained in the company. The court also ruled that the company should refrain from any action that could jeopardise the issues under litigation.
