DEAP Capital’s board resigns, SEC appoints interim management team

DEAP Capital Management & Trust Plc has announced the resignation of its board of directors with effect from Dec. 31, 2020.

The company, in a statement on Monday, also disclosed that the Securities and Exchange Commission had on Jan. 29, 2021 appointed an interim management team to oversee the affairs of the company.

The IMT comprises Mrs Anastasia Braimoh (chairperson), Mr Alhassan Sidi and Mrs Gbemi Adekola, according to the statement signed by the Company Secretary, Yetunde Fashesin-Souza.

“The IMT would schedule an emergency general meeting to constitute a Board for Deap Capital Management & Trust Plc. Notice of the EGM will be announced in due course,” it said.

Deap Capital had in July last year said its indebtedness to the Asset Management Corporation of Nigeria stood at N1.6 billion, with the corporation holding 20 percent equity stake in the company.

It said it was resolving its indebtedness to AMCON, adding that it was working with its stakeholders to ensure the company’s return to profitability.

“The company is resolving its operational challenges, most notably the recovery of its operational licences,” the fund management company said at the time.

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