By Patrick ONOJA investadvocate

Dec 17 2010 16.49 GMT

Lagos (INVESTADVOCATE)-Kajola Integrated Investment Plc (Kajola) has reported unclaimed dividends and share certificates in a notice to investors of the Company as it concludes its second Annual General Meeting (AGM).

 

This was contained in Company’s notice of its second AGM held Friday December 17 2010 in Lagos Nigeria and made available to investadvocate.

 

The notice affirmed that some dividends have remained unclaimed as the Registrars records show.

 

Also, Kajola reported a number of share certificates have been returned as unclaimed because the addresses on them could not be traced or shareholders had changed their addresses without informing the Registrars.

 

“The affected shareholders should please get in touch with Union Registrars Limited” the notice said.

 

Kajola further affirmed that Union Registrars had informed them that they are electronic payment (e-payment) ready. “Shareholders are kindly requested to take advantage of this to reduce the unclaimed dividend problems and also save the company the cost of printing and posting dividend warrants” the Company advised.

 

Meanwhile, from financial highlights made available to investadvocate, Kajola’s Annual Reports and Accounts for the period ended December 31 2010, showed that Gross Earnings of the Company increased from N90.444 million in year 2008 to N130.230 million in year 2009 indicating a 43.98 percent (43.98%) increase.

 

While Profit Before Tax (PBT) decreased from N49.679 million in year 2008 to N354,000 in year 2009 showing a decrease of  -99% in the review period.

 

Profit After Tax (PAT) also declined from N46.277 million in 2008 compared to N2.356 million in the review period representing a decline of -105%.

 

Professor Wale Omole, Chairman of Kajola in his Statement affirmed that despite the fact that the current economic environment poses a great challenge to business development, the company is still hopeful that the global economic recession will return to normalcy in the year ahead.

 

“As a Company, we intend to scale up our activities by leveraging on opportunities in Oil and Gas, Real Estate, Power and Energy Sector, Merchandising and joint ventureship in SME’s” he said.

He further affirmed that for Kajola to be more visible in the next 12 months, considerations would be given to bankable proposals on productive business which is not in any way limited to forming strategic alliances with indigenous investors, contractors and Oil Servicing firms among others.