Proshare Logo
   Market Date: 18-12-2014   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

Meristem Registrars and BAGCOâââÃ

Category: Investors NewsBeat

  Read (2170)
Meristem Registrars and BAGCOâââÃ


 - Credits half of 700,000 investors CSCS account on Bagco 2007 IPO



Proshare NI

July 30, 2008 at 17:04 GMT


Meristem Registrars Limited, Registrars to the Nigerian Bags Manufacturing Company Plc, (Bagco) had credited the Central Securities Clearing System Limited (CSCS) accounts of about half of 700,000 investors that took part in  the Bagco 2007 Initial Public Offer (IPO).


Bunmi Oguntoye Registrar/Chief Executive Officer (CEO) of Meristem Registrars confirmed this to Proshare NI today in Lagos Nigeria.


This is coming on the heels of enquiries from investors as regards the non-receipt of share certificates/return money of the Bagco 2007 IPO.


However, as at the time of filling in this report, Proshare NI could not confirm this story from CSCS.


Oguntoye confirmed to Proshare NI that Meristem Registrars had sent all share certificates and return money out to investors.


“For the past one month, I have been on holidays and I wouldn’t know the current update and may not be able to give the correct version of the story, but as far as I am concerned before I started my break, we have sent everything out” he said.


Oguntoye further affirmed that investors who had complaints had been visiting Meristem to have their issues resolved.


Prior to this time, Oguntoye had earlier confirmed to Proshare NI, that about 400,000 investors are to get the e-certificate for the 2007 Bagco IPO.

He confirmed to Proshare NI that out of these number, about 300,000 has been sent to the CSCS for verification and confirmation for investors to get their e-certificate.

Though the CSCS had before this time, confirmed to Proshare NI that they have done for only 100,000 investors.

“For the past few weeks, we have verified over 100,000 e- certificates and forwarded them to the Registrar who would in turn dispatch same electronically to investors through whatever outlets they bought the shares” the source affirmed.


Bagco in November, 2007 sought to raise N7.273 billion and offered to members of the Nigerian Investing Publics 1.865 billion ordinary shares of 50 Kobo at N3.90 Kobo per share.

Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Investors NewsBeat

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014