DAAR Communications PLC (the Company) wishes to notify the Nigerian Exchange Limited (NGX or The Exchange), its esteemed Shareholders and the General Public that sequel to online platforms publications, the Board and Management of DAAR Communications PLC (owners of AIT, Raypower and Faaji FM) wishes to state as follows:

1. That a decision has been taken to retire members of executive management who have spent over 10-years in executive capacity in compliance with the Code of Corporate Governance as well as the Company’s  Internal Control Policies and Procedures Manual.

2. ⁠As such, the Company wishes to announce the retirement of the following members of its Executive Management:

a. Mr Tony Akiotu,
b. Dr Oluwatosin Dokpesi,
c. Dr Ambrose Somide,
d. Engr Anthony Uyah,
e. Mrs Paulyn Ugbodagha,
f. Mrs Mary Lawrence-Dokpesi,
g. Mrs Faith Ikems,
h. Mr Imoni Amarere,
i. Mr John Iwarue and
j. Mr Johnson Onime with effect from 31st October 2024, following the completion of their regulatory prescribed tenure of two terms of five years.

3. ⁠The Board is indeed grateful to all affected members for their invaluable contributions to the Company during their tenure in the management and wishes them the very best in their future endeavours.

4. The Company is working on a major restructuring of its leadership and once this is concluded, The Exchange, other regulatory authorities, its Shareholders and the General Public would be notified of such changes accordingly.

Signed:

Miji Jonah, Esq
Company Secretary