02/04/2025
MINUTE OF SHAREHOLDERS MEETING HELD ON MONDAY 31st MARCH 2025 VIA WHATSAPP CALL.
1) The meeting was declared open by the chairman comrade Ubong Alfred at 8:5pm
2) Reading and adoption of previous minute was overrule because the secretary was not available.
This was supported by Engr Suanu and seconded by Engr. Bob Manuel.
3) ATTENDANCE
* Ubong Alfred
* Imaobong Alfred
* Doryina Enterprise
* Engr. Oyinbrakemi J. Nabena
* Ibiso West
* Engr. Joseph Igbikikunomayanaa
* Engr Bob-Manuel Victor
* Nicholas Enyinka
* Nnamani Cynthia Anita
* Pharm. Victor Omorenwen
* Engr. John Woji
* Engr. Gbarazia Suanu
* Arc. Stanley Chinazor
4) MATTERS ARISING
Secretary/Assistant secretary position.
Ibiso west was nominated and declared as assistant secretary of PHDN through unanimous vote.
A resolution was unanimously approved by the house that the secretary will automatically be replaced by the assistant secretary if he the secretary failed to carryout his duty or contribute on the platform for the next six months.
PROPOSED HOTEL BUSINESS
The chairman proposed a hotel business opportunity at a property located at airport road by obiri ikwere flyover.
It's a 9 bedroom duplex which can be converted to 12 bedroom.
The lease is N5m per year to paid 5 years which is N25m. 15 years lease will be granted.
A minimum of N50m is required to start the business, we expect a profit of N20m per year.
It was agreed that Arc Stanley should carryout an independent assessment of the proposed business and report back to the cooperative.
It's was also agreed that while waiting for the feasibility of this proposed business or any other business, we should start pledging the amount of shares we intend to buy and the time.
Engr. John Woji pledge to buy shares worth N1m.
5)AOB
There was no other business to discuss.
6) MOTION FOR ADJOURNMENT
Doryina enterprises moved motion for adjournment, it was supported by Engr. Stanley.
Signed
Ibiso West
Assistant secretary
