|
1. Head Office:
3rd
Floor, Elephant
House Plaza,
241 Ikorodu
Road,
Anthony, Lagos.
P. M. B. 12693, Marina, Lagos.
Tel: 234-01-4938691-3, 4970712, 4970113, 7731683.
Telefax: 234-01-4938694,
E-mail: info@acenico.co..ng
Website: www.acenico.com.ng
2. Nature of Business:
Insurance
3. Date of Incorporation:
25th January, 1988
4. Date Listed on The Exchange:
20th October, 2004
5. NSE Classification:
Insurance
6. Board of Directors:
Engr. F. A. O. Phillips (Chairman)
Mr. B. O. Oshadiya (MD/CEO)
Engr. (Chief) S. O. Fadahunsi (CON)
Engr. G. A. Legunsen
Mr. Tony Iwobi
Engr. Mrs. J. O. Maduka
Engr. (Otunba) M. O. Adeshina
Mr. O. J. Onoja
Mrs. P. T. Lawore
Mr. P. O. Arah
Mr. Ayodeji O. S. Basorun
Mr. Feyisola O. Famutimi
7. Company Secretary/Legal Adviser:
Mr. Bodunrin Adewole
(Adewole, Sulaimaon & Co.)
7th Floor, NICON House,
Customs Street, Lagos.
|
8. Auditors:
Mokolu Reuben & Co.
(Chartered Accountants)
30, Marina, Lagos.
9. Company Registrars:
ESL Securities Limited
Plot 161 A, Raufu Taylor Close,
Off Idejo
Street,
Victoria Island, Lagos.
10. Subsidiaries/Associates:
Nil
11. End of Accounting Year
31st December
12. Number of Employees
82
13.Capital Structure
i. Authorised: N2,000,000,000.00
ii. Paid-Up N300,000,000.00
14. Analysis of Shareholding
Nigerian Citizens & Associations 100%
|
|
FIVE-YEAR FINANCIAL SUMMARY
ASSETS
EMPLOYED: 2005 2004 2003 2002 2001
N N N N N
Fixed Assets 61,135,808 55,412,191 45,779,896 22,566,365 18,354,133
Statutory deposit 20,000,000 20,000,000 20,000,000 10,500,000 10,500,000
Long-term investment 33,928,612 29,462,112 348,500 250,000 250,000
Net current assets 406,156,837 310,796,549 294,812,076 151,660,533 104,412,785
—————— ————— ————— ————— —————
521,221,257 415,670,852 360,940,472 184,976,898 181,414,365
======== ======== ======= ======= =======
FINANCED BY:
Share capital 250,000,000 250,000,000 200,000,000 76,650,379 72,733,936
Share premium 19,612,286 20,222,609 22,108,909 564,000 564,000
Bonus reserve 50,000,000 - - - -
General reserve 30,532,588 14,146,720 2,913,180 1,786,987 1,044,138
Insurance fund 109,873,028 91,526,491 112,167,534 87,594,392 73,157,320
Deferred tax 10,716,053 8,191,507 - - -
Contingency reserve 50,487,302 31,583,525 23,750,849 18,181,140 13,914,969
-------------- -------------- -------------- -------------- --------------
521,221,257 415,670,852 360,940,472 184,976,898 181,414,365
======= ======= ======= ======= =======
GROSS PREMIUM:
Income 404,451,541 301,871,501 235,449,553 180,260,514 173,989,426
======= ======= ======= ======= =======
PROFIT AND LOSS:
Profit before taxation 94,518,884 64,695,602 32,974,605 20,479,483 13,438,650
Taxation (15,253,471) (15,629,386) (6,278,703) (5,868,055) (4,654,100)
----------- ----------- ----------- ----------- -----------
Profit after taxation 79,265,413 49,066,216 26,695,902 14,611,428 8,774,550
Expenses on recapitalisation - - - (1,917,370) (1,000,000)
Contingency reserve (18,903,777) (7,832,676) (5,569,709) (4,266,171) -
----------- ----------- ----------- ----------- -----------
60,361,636 41,233,540 21,126,193 8,427,887 7,774,550
Dividend (50,000,000) (30,000,000) (20,000,000) (7,685,038) (3,636,697)
----------- ----------- ----------- ----------- -----------
Retained profit 10,361,636 11,233,540 1,126,193 742,649 4,137,853
======= ======= ======= ======= =======
EPS 16k 10k 7k 10k 6k
DPS 10k 6k 5k 5k 3k
EPS (Adjusted) 16k 10k 5k 3k 2k
DPS (Adjusted) 10k 6k 4k 2k 1k
|
