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1. Head Office:
Sterling Bank Plc.
20, Marina, Lagos.
Tel: +234-01-266420-9
Tel: +234-01-2600850-9
Fax: +234-01-2633294, 2636989, 2637527
E-mail: capitalmarketsgroup@nalbank.com.ng
Web site: www.nalbank.com.ng
2. Nature of Business:
Closed-end fund focused on the Energy Sector.
3. Date of First Allotment:
26th October, 1998
4. Date Listed on The Exchange:
18th June, 1999
5. NSE Classification:
Other Financial Institutions
6. Fund Manager:
Sterling Capital Markets Limited, a wholly owned subsidiary of
Sterling Bank Plc.
7. Company Secretary:
Aderonke Savage
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8. Auditors:
KPMG Professional Services
(Chartered Accountants)
9. Company Registrars:
Sterling Registrars Limited
10.Trustees:
UBA Trustees Limited
UBA House (2nd Floor)
No. 57, Marina, Lagos.
11. End of Accounting Year
31st March
12.Capital Structure
i. Authorised: N745,950,000.00
ii. Paid-Up N745,950,000.00
13. Structure of Portfolio
Equity Securities - 37%
Debt Securities - 63%
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FIVE-YEAR FINANCIAL SUMMARY
ASSETS
EMPLOYED 2007 2006 2005 2004 2003
N“000 N“000
Bank balances 42,019 199,782 25 8,397 -
Investments 1,004,371 736,539 988,090 1,063,277 1,025,238
Other assets 1,499 6,218 35,893 63,986 107,160
------------- ---------- ------------- ---------- ----------
1,047,889 942,539 1,024,008 1,135,660 1,132,398
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LIABILITIES
Other liabilities 136,209 72,574 160,450 333,598 371,165
Taxation 43,204 20,434 17,451 - -
------------- ---------- ------------- ---------- ----------
Net assets 868,476 849,531 846,107 802,062 761,233
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FINANCED BY
Equity and Reserves
Net assets attributable
to noteholders 745,950 745,950 745,950 745,950 745,950
Reserves 122,526 103,581 100,157 56,112 15,283
------------- ---------- ------------- ---------- ----------
Net asset value 868,476 849,531 846,107 802,062 761,233
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STATEMENT OF TOTAL RESULT
Gross income 127,941 136,733 160,998 249,945 194,976
Expenditure (23,679) (116,591) (122,683) (52,273) (14,734)
------------- ---------- ------------- ---------- ----------
Surplus before tax 104,262 20,141 38,315 197,672 180,242
Tax (charge)/credit (28,484) (6,445) 137,865 (34,356) (54,073)
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Profit after tax 75,778 13,696 176,180 163,316 126,169
Coupon (56,833) (10,272) (132,135) (122,487) (94,627)
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Retained earnings 18,945 3,424 44,045 40,829 31,542
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