GLOBAL SPECTRUM ENERGY SERVICES : NOTIFICATION OF THE OUTCOME OF GLOBAL SPECTRUM ENERGY SERVICES PLC’S 15TH ANNUAL GENERAL MEETING

Lagos, Nigeria.

July 21, 2022

NOTIFICATION OF THE OUTCOME OF GLOBAL SPECTRUM ENERGY SERVICES PLC'S 15TH

ANNUAL GENERAL MEETING HELD ON 20TH OF JULY 2022

Global Spectrum Energy Services Plc (the Company) hereby notifies the Nigerian Exchange Limited and the investing public that at the 15th Annual General Meeting of the Company held by Proxy on the 20th day of July 2022 at Lilygate Hotel, 2, Olubunmi Owa Street, Lekki Phase 1, Lagos, Nigeria, at 11.00 a.m. the following resolutions were passed:

Ordinary Business

1. The Audited Financial Statements for the year ended December 31, 2021, together with the Reports of the Directors, Auditors and Audit Committee thereon was laid before the members.
2. The Directors retiring by rotation, Mr. Wasiu Akindele and Mr. Clement Akanibo were re-elected by the shareholders after offering themselves for re-election.
3. The re-appointment of Olufemi Fajuyi & Co as External Auditors of the Company was ratified by the shareholders of the Company.
4. The shareholders of the Company duly authorized the Directors to fix the remuneration of the Auditors for the 2022 financial year.
5. The shareholders of the Company duly re-elected the underlisted as shareholder members of the Audit Committee:
6. • Mr. Joel Kroham;
   • Mr. Ezekiel Orlu Chaka; and
   • Mr. Joel Akinola Adeleke.

The Board of Directors nominated Mr. Clement Akanibo and Mr. Chidolue Okonkwo as Directors that would serve on the Audit Committee. This is in accordance with Section 404 (2) (3) and (6) of the Companies and Allied Matters Act, 2020.

6. The remuneration of the Managers of the Company was disclosed in line with Section 257 of the Companies and Allied Matters Act.

Special Business

7. The Shareholders of the Company duly approved the resolution fixing the Remuneration of the Directors.

Abuja: 24B Colorado Street, Maitama; Lagos: 49A, Chris Madueke Street, Lekki Phase 1

Email: [e-mail] | www.globalspectrumplc.com | Mobile: [phone]

8. The Shareholders of the Company duly approved the following sub-joined resolutions as special resolutions of the Company:

1. The shareholders authorised and approved the voluntary delisting of the Company from Nigerian Exchange Limited (NGX) pursuant to Rule 21.4 of the Issuers' Rules of NGX.
2. The shareholders ratified all acts carried out by the Directors in connection with the above special resolution authorising the voluntary delisting of the Company from NGX.

Thank you.

Adetola Raheem

For: Rayfield Associates (Company Secretary)

Abuja: 24B Colorado Street, Maitama; Lagos: 49A, Chris Madueke Street, Lekki Phase 1

Email: [e-mail] | www.globalspectrumplc.com | Mobile: [phone]