presco 2019 report send

Diluted earnings per share (EPS) is the same as basic earnings per share as there are
no potential dilutive ordinary shares or transactions.

Impact on profit Impact on basic Impact on diluted
for the year earnings per share earnings per share

2018 2019 2018 2019 2018
N’000 N’000 N’000 N’000 N’000

Impact of the adoption 34,065 - 34,065 - 34,065 -
IFRS 16 34,065 - 34,065 - 34,065 -

35 Related party transactions

Details of transactions and outstanding balances between the company and its
related parties during the period are disclosed below:

35.1 Trading transactions

The company entered into transactions with its related parties during the year:

Sales of goods Purchases of goods
and services and services

2019 2018 2019 2018
N'000 N'000 N'000 N'000

SIAT Nigeria Limited 876,375 2,796,697 68,628 1,968,196
NV SIAT SA 253,480 454,712 4,310,406 2,247,142
SIAT Gabon 62,694
Ghana Oil Palm Development Company 6,816 - 3,678
(GOPDC) Limited
Siat Cambodia 51,729 42,899 117 92,471
CompagnieHeveicole de Cavally(CHC/CHP) - - --
- --
249

The following balances were outstanding at the end of the reporting period:

150

Due from related Due to related
parties parties

2019 2018 2019 2018
N'000 N'000 N'000 N'000

SIAT Nigeria Limited 3,181,806 210,971 1,997,524 2,064,005
3,780,503 3,059,941 3,440,622
NV SIAT SA 1,854,655
- - 3,678
SIAT Gabon Limited 169,353
-
Ghana Oil Palm Development -
-
Company (GOPDC) Limited 49,623 - 50,998 92,472
- -
CompagnieHévéicole de Cavally 267 - -
- -
Cambodia 44,814

SWIFT Rubber 107,553

5,408,071 3,991,474 5,108,463 5,600,777

Sales and purchases of goods and services were done at prevailing market prices. The
outstanding balances are unsecured and will settled in cash. No guarantee has been
given or received. No expense has been recognised in the current or prior year for bad
debts in respect of amounts owed by related parties.

151

35.2 Loans to related parties 2019 2018
N'000 N'000
Loans to key management personnel
Others - -
- -

The Company did not provide loans to any of its key management personnel during
the year.

35.3 Loans from related parties 2019 2018
N'000 N'000

NV SIAT S.A., Belgium - -

The Company has not been provided loans by related parties during the year.

35.4 Details of related companies

a NV SIAT SA, Belgium
Presco Plc is a subsidiary of NV SIAT SA, Belgium, with 60% holding. The
company had significant purchases of goods and services of about
N2.93billion with NV SIAT SA during the course of the financial year. There
was a closing balance of N1.21 billion in favour of SA SIAT NV during the year.
The seconded staff included in Note 14 relates to the salaries of staff
seconded from NV SIAT SA to the company.

b Ghana Oil Palm Development Company (GOPDC) Limited
Ghana Oil Palm Development Company Limited is a related company to
Presco Plc. There was a closing balance of N1.375million in favour of Ghana
Oil Palm Development Company (GOPDC) Limited during the year. NV SIAT
SA, Belgium (the parent company of Presco) is also the parent company of
Ghana Oil Palm Development Company Limited.

c SIAT Gabon
SIAT Gabon is a related company of Presco Plc. There was a closing balance
of N169.393 million in favour of Presco Plc. NV SIAT SA, Belgium (the parent
company of Presco) is also the parent company of SIAT Gabon.

d CompagnieHeveicole de Cavally, Ivory Coast
CompagnieHeveicole de Cavally, Ivory Coast is a related company to Presco
Plc. There was a closing balance of N0.267 million in favour of Presco Plc
during the year. NV SIAT SA, Belgium (the parent company of Presco) is also
the parent company of CompagnieHeveicole de Cavally.

152

e Siat Nigeria Limited
Siat Nigeria Limited is a related company of Presco Plc. The company had
significant purchase transactions of N1.997 billion. There was a closing
balance of N1.184 billion in favour of Presco Plc at the end of the year. NV
SIAT SA, Belgium (the parent company of Presco) is also the parent company
of SIAT Nigeria Limited.

f. Siat Cambodia
Siat Cambodia is a related company to Presco Plc. There was a closing
balance of N44.8 million in favour of Presco Plc. NV SIAT SA, Belgium (the
parent company of Presco) is also the parent company of Siat Cambodia.

g. SWIFT Rubber
SWIFT Rubber is a related company to Presco Plc. There was a closing
balance of N107.553 million in favour of Presco Plc. NV SIAT SA, Belgium (the
parent company of Presco) is also the parent company of SWIFT Rubber.

The remuneration of key management personnel was as follows:

Short-term benefits 2019 2018
Post-employment benefits N'000 N'000
Other long term benefits 50,127 43,652
8,478 1,438
2,501 2,860

61,106 47,950

The remuneration of key management personnel is determined by remuneration
committee having regard to the performance of individuals and market trends.

153

36. Directors 31-Dec-19 31-Dec-18
N'000 N'000
Directors' remuneration and fees 58,556
Others 63,500 32,200
38,026 90,756

101,526 31-Dec-18
N'000
Fees and other emoluments disclosed above include amount paid to: 6,000
84,756
31-Dec-19 90,756
N'000

Chairman 6,000
Other director 95,526

101,526

The number of directors excluding the Chairman whose emoluments were within the
following ranges:

N Number Number

600,000 - 610,000 --
611,000 - 700,000 --
1,320,000 - 1,330,000 10 9
1,450,000 - 1,460,000 11
1,500,000 - Above --

11 10

37. Employees Number Number

Average number of persons employed during the year: 31-Dec-19 31-Dec-18
N'000 N'000
Management staff 37 33
Senior staff 127 121
Junior staff 495 352
506
659

154

Staff costs relating to the above employees were: 2019 2018
N'000 N'000
Salaries, wages and other benefits 1,162,916 1,059,832
Pension 42,528 32,861
Gratuity 28,743 22,314
Long service awards 10,871 11,714

1,245,058 1,126,721

The table below shows the salary band and the number of the employees of the company,
other than employees who discharged their duties wholly or mainly outside Nigeria
during the year.

N 2019 2018
Number Number
- - 70,000
70,001 - 400,000 - -
400,001 - 500,000 - -
500,001 - 600,000 - -
600,001 - 700,000 271 278
700,001 - 800,000 224 74
800,001 - 900,000 - -
900,001 - 1,000,000 - 56
1,000,001 - 1,100,000 56 1
1,100,001 - 1,200,000 1 -
1,200,001 - 1,300,000 9 -
1,300,001 - 1,400,000 37 44
1,400,001 - 1,500,000 - 8
1,500,001 - 1,600,000 21 11
1,600,001 - 1,700,000 3 1
1,700,001 - 1,800,000 - -
1,800,001 - 1,900,000 - -
1,900,001 - 2,000,000 - -
2,000,001 - 3,000,000 - -
3,000,001 - 4,000,000 25 21
4,000,001 - 5,000,000 9 10
3 2

659 506

155

38 Contingent liabilities

The company is the defendant in various law suits arising from normal course of
business. There were contingent liabilities as at 31 December 2019 in respect of
pending litigations estimated at N0.497 billion (2018: estimated N1.57 billion). In
the opinion of the directors, and based on independent legal advice from the
Company’s Solicitors, the Company is not expected to suffer any material loss
arising from these claims. Thus no provision has been made in these financial
statements.

39 Financial commitments

In the normal course of business, the company uses letters of credit to import
materials. The total value of open letters of credit as at 31 December was N1.75
billion (2018: Nil) of which N71.38million are contingent.

40 Capital commitments

Capital expenditure authorized by the board, but not provided for in the accounts
was Nil (2018: Nil).

41 Prior periods restatement

In the current year, the Company has reclassified and represented some items of
financial statements in a manner that better reflects the nature of those items and
in line with the requirements of the applicable International Financial Reporting
Standards (IFRS). Consequently, the presentation of the comparative figures and
the prior year's balances have been restated in order to correctly reflect the nature
of those items in line with IAS 1 (Presentation of financial statements), IAS 8
(Accounting Policies, Changes in Accounting Estimates and Errors) and IAS 7 (Cash
flows) applicable financial reporting standards for meaningful comparison. The
restatement does not have any material impact on the overall results of the

156

Statement of financial position

31-Dec-18 1-Jan-18

As As

previously previously

Notes reported Reclassifications As restated reported Reclassifications As restated
N’000 N’000
N’000 N’000 N’000 N’000

Total Assets 58,678,749 (259,641) 58,419,108 45,986,205 (242,242) 45,743,963

Deferred tax liabilities (a) 4,756,977 978,124 5,735,101 4,401,851 1,767,745 6,169,596
Others 7,560,565 - 7,560,565 4,967,573 - 4,967,573

Total non-current liabilities 12,317,542 978,124 13,036,025 9,369,424 1,767,745 11,137,169

Deferred tax liabilities (a) 978,124 (978,124) - 1,767,745 (1,767,745) -
Others 21,208,741
22,186,865 - 21,208,741 12,974,500 - 12,974,500
Total current liabilities 34,504,407
Total liabilities (978,124) 21,208,741 14,742,245 (1,767,745) 12,974,500
Total Equity 24,174,342
- 34,504,407 24,111,669 - 24,111,669

- 24,174,343 21,874,536 - 21,874,536

157

Statement of profit or loss and OCI

31 December 18 As 1-Jan-18
previously
Notes Reclassifications As restated
reported N’000 N’000
Revenue (b) N’000 -
Cost of sales 21,344,730
21,344,730 (699,341) (5,452,616)
Gross profit (4,753,275) (699,341)
15,892,114
16,591,455

Administrative expenses (b) (6,384,429) 934,282 (5,450,147)
Selling and distribution
expenses (b) (366,923) (172,485) (539,408)
Other gains and losses (c) 389,845 (311,505) 78,340
Other operating income (c) -
(Loss) on biological asset 242,721 242,721
revaluation
(2,632,070) - (2,632,070)

Operating profit before finance cost and finance income 7,597,878 (6,328) 7,591,550

Finance cost (b) (1,276,868) (62,456) (1,322,404)
Finance income (c) -
68,784 51,863
6,321,010
Profit before tax - 6,321,010
(2,036,822)
Tax expense 4,284,188 - (2,036,822)
- 4,284,188
Profit for the year
15,618 - 15,618
Other comprehensive 4,299,806 4,299,806
income, net of tax
Total comprehensive income for the year

(a) Deferred tax liability was reclassified in the financial statements from “current”
to the “non-current” liability classification in the financial statement in line with
the requirements of IAS 1 - Presentation of financial statements.

(b) The presentation for certain expenses relating to depreciation (N492.5m),
repairs and maintenance (N206.6m), selling expenses of N172.485million and
interest cost on defined benefit obligation of N62.4m were revisited to better
align the presentation to the nature of the expenses and were thus reclassified
between cost of sales, administrative expenses, selling and distribution
expenses and the finance cost notes in the financial statements.

(c) The presentation for certain income lines relating to Finance income (68m) and
operating income (N242.7m) were revisited to better align the presentation to
the nature of the income and were thus reclassified between other gains and
losses, finance income and operating income notes in the financial
statements.

158

Statement of Cashflows As previously
31-Dec-18
Notes reported Adjustments As restated
Net cash generated from operating activities (d)
N’000 N’000 N’000

10,307,707 (1,109,075) 9,198,632

Net cash used in investing activities (e) (18,281,668) (2,356,061) (15,925,607)

Net cash used in financing activities (f) 4,366,533 (1,218,749) 3,147,784

NET INCREASE/(DECREASE) IN CASH AND (3,607,428) 28,237 (3,579,191)
CASH EQUIVALENT

CASH AND CASH EQUIVALENT AT BEGINNING 133,163 (242,242) (109,079)
OF YEAR - (28,716) (28,237)

Effect of movements in exchange rates on cash held (g) (3,474,265) (259,641) (3,474,265)

CASH AND CASH EQUIVALENT AT END OF YEAR

(d) Net cash generated from operating activities based on updated cash flow
computation with the use of restated balances and the adjustment from
profit for the prior year (N4.2b) using appropriate adjusting items in line with
the provision of IAS 7 on cash flow statement.

(e) Net cash used in investing activities based on updated cash flow computation
in line with the provision of IAS 7 on cash flow statement with updates
accounted for by interest received (N52million) from call deposit as well as
asset and intangibles acquisitions (N2.287 billion).

(f) Net cash used in financing activities based on updated cash flow computation
in line with the provision of IAS 7 on cash flow statement with updates
accounted for by interest paid (N1.165b), finance lease liabilities (N96.5m)
and dividend received from the company's registrars of N42.54million.

(g) This relates to the effect of the movements in exchange rates on cash held by
the company during the course of the financial year.

There is no impact on the company's basic or diluted earnings per share for
the year ended 31 December 2018.

159

company as reported in the prior year.

42 Events after the reporting period

By a written resolution of the Directors of Presco Plc dated 22 May 2020 it was resolved
that a dividend of 200 kobo per share amounting to N2 billion (2018: N2billion) be
recommended for declaration by the members of the Company at the next general
meeting of the Company. No provision for the dividend is recognised in the financial
statements for the year then ended because, dividend is recognised as a liability in the
period it is approved by shareholders.

Since 31 December 2019, the spread of COVID-19 has severely impacted many local
economies around the globe. In many countries, businesses are being forced to cease or
limit operations for long or indefinite periods of time. Measures taken to contain the
spread of the virus, including travel bans, quarantines, social distancing, and closures of
non-essential services have triggered significant disruptions to businesses worldwide,
resulting in an economic slowdown. Global stock markets have also experienced great
volatility and a significant weakening. Governments and central banks have responded
with monetary and fiscal interventions to stabilise economic conditions. Our Company has
put in place protective measures in keeping with World Health Organization guidelines to
minimize the risk to our workforce and ensure minimum disruption to operations. There
have not been workforce reductions resulting from illnesses and quarantines. The
consequences of the COVID-19 outspread have not materially and adversely affected the
supply and demand for the Company's primary products and therefore, its operating
results have not been negatively impacted and has not cast any doubt on the company's
ability to continue as a going concern.

Therefore, the Company has determined that these events are non-adjusting subsequent
events. Accordingly, the financial position and results of operations as of and for the year
ended 31 December 2019 have not been adjusted to reflect their impact. The duration and
impact of the COVID-19 pandemic, as well as the effectiveness of government and central
bank responses, continues to evolve as the consequences of the COVID-19 unfolds further.
It is not possible at this time to reliably estimate the duration and severity of these
consequences, as well as their impact on the financial position and results of the Company
for future periods.

There are no other events after the reporting date which would have had any material
effect on the statement of financial position as at 31 December 2019 and on the profit for
the year then ended.

43 Approval of Financial Statement

The financial statements have been approved for issue in accordance with a resolution of
the board of directors on 22 May, 2020.

160

Other national disclosures
Statement of value added
(As required by Companies and Allied Matters Act CAP C20 LFN 2004)

2019 % 2018 %
N'000 N'000

(Restated)*

Revenue 19,723,641 21,344,730
Other operating income/(loss) 2,285,181 (2,248,224)

22,008,822 19,102,506

Bought in goods and services: (4,446,458) (2,343,291)
- Imported (6,815,427) (6,666,578)
- Local
10,746,937 100 10,092,637 100
Value added

161

APPLIED AS FOLLOWS: 1,245,058 12 1,126,721 11
1,127,539 10 2,478,010 24
To pay employees: 2,133,709 20 1,339,324 13
Salaries, wages and other benefits

To pay Government:
Income and education taxes

To pay providers of capital:
Interest expense

To provide for replacement of assets,

payment of dividend and future expansion:

- Depreciation of fixed assets 1,431,275 13 1,283,223 13

- Depreciation of Right-of-use assets 23,390 0 -0

- Amortisation of intangible assets 47 0 47 0

- Deferred tax 1,049,531 10 (434,495) (4)

- Profit and loss account 3,736,388 35 4,299,806 43

10,746,937 100 10,092,637 100

To provide for replacement of assets, payment of dividend and future expansion:

Value added represents the additional wealth which the Company have been able to create
by its own and its employees' efforts. This statement shows the allocation of that wealth
among employees, government, providers of capital and that retained for the future
creation of more wealth.

162

Other national disclosures
Five-year financial summary
(As required by Companies and Allied Matters Act CAP C20 LFN 2004)

31-Dec-19 31-Dec-18 31-Dec-17 31-Dec-16 31-Dec-15
N'000 N'000 N'000 N'000 N'000

ASSETS/( LIABILITIES) (resated) (restated) (restated) 183,581
19,990,011
Intangible assets 121 826,845 352,043 192,566
42,345,519 28,122,101 22,444,658 110
Property, plant and equipment 48,211,859 -
- - 110
Other non-current assets - - - - 29,291,216
3,260,413 5,892,483
Right-of-use assets 1,647,846 6,239,697 (412,982)
(8,962,768) (1,354,922) (17,697,123)
Biological assets (BA) 5,092,477 (13,295,666) (11,137,169) (505,927)
(10,680,328)
Net current liabilities

(excluding BA) (10,228,757)

Non-current liabilities (16,835,670)

TOTAL 27,887,876 24,174,342 21,874,536 17,690,776 31,354,813

CAPITAL EMPLOYED 500,000 500,000 500,000 500,000 500,000
Equity 1,173,528 1,173,528 1,173,528 1,173,528 1,173,528
Share premium 26,256,085 22,440,193 20,156,005 15,929,800 29,622,561
Revenue reserves
Other reserves (41,737) 60,621 45,003 87,448 58,724

TOTAL 27,887,876 24,174,342 21,874,536 17,690,776 31,354,813

STATEMENT OF COMPREHENSIVE INCOME

Revenue 31-Dec-19 31-Dec-18 31-Dec-17 31-Dec-16 31-Dec-15
N'000 N'000 N'000 N'000 N'000
Profit before taxation
Other comprehensive profit 19,723,641 (resated) (restated) (restated) 9,137,704
Taxation 838,039
6,059,683 21,344,730 22,365,372 15,716,198 744,378
(146,225) 443,787 75,000
(2,220,937) 6,321,010 1,578,547 316,762
22,311 1,060,789 75,000 2,509,319

(2,036,822) 300,000 21,764,190

Profit after taxation 3,736,388 4,299,806 5,683,760

Declared dividend 2,000,000 2,000,000 2,000,000 1,500,000 1,000,000

Per share data ( Kobo) 374 430 568 2,176 251
Basic and diluted earnings
per share

Net assets per share 2,789 2,417 2,187 1,769 3,135

Note
Earnings per share is based on profit after tax and the weighted average number of issued
and fully paid ordinary shares and the end of each financial year.

163

Net assets per share is based on net assets and the weighted average number of issued and
fully paid ordinary shares at the end of each financial year.

164

SHARE CAPITAL HISTORY Fully Paid Values (Naira) Description
Number of
Year Values (Naira) Shares

1991 50,000,000 50,000,000 50,000,000 50,000,000 Cash
1992 50,000,000 50,000,000 50,000,000 50,000,000
1993 50,000,000 50,000,000 50,000,000 50,000,000 Cash
1994 100,000,000 100,000,000 100,000,000 100,000,000
1995 100,000,000 100,000,000 100,000,000 100,000,000 Conversion of
1996 130,000,000 130,000,000 100,000,000 100,000,000 debt to equity
1997 130,000,000 130,000,000 100,000,000 100,000,000 Conversion of
1998 130,000,000 130,000,000 130,000,000 130,000,000 share N1 to 50K

1999 260,000,000 130,000,000 260,000,000 130,000,000

2000 260,000,000 130,000,000 260,000,000 130,000,000 Conversion of
2001 500,000,000 250,000,000 300,000,000 150,000,000 debt to equity
IPO
2002 500,000,000 250,000,000 500,000,000 250,000,000
2003 500,000,000 250,000,000 500,000,000 250,000,000

Year Authorised Value(Naira) Fully paid Value(Naira) Description
Number of Number of
2004 Share 250,000,000 shares 250,000,000
2005 250,000,000 250,000,000
2006 500,000,000 250,000,000 500,000,000 250,000,000
2007 500,000,000 250,000,000 500,000,000 250,000,000
2008 500,000,000 500,000,000 500,000,000 500,000,000 Bonus 1:1
2009 500,000,000 500,000,000 500,000,000 500,000,000
2014 1,000,000,000 550,000,000 1,000,000,000 550,000,000
1,000,000,000 1,000,000,000
1,100,000,000 1,100,000,000

BONUS HISTORY Amount (Naira) Bonus Ratio
0
Date Number
Issued Issued

2008 500,000,000 250,000,000

165

166

PROXY FORM

PRESCO PLC
(RC 174370)

27TH ANNUAL GENERAL MEETING

I/We*-------------------------------------------the undersigned, being a member/s of Presco Plc, RC I/We desire this proxy to be used in favor of or against the resolution

174370, hereby appoint as indicated alongside. Strike out whichever is not desired.

*------------------------------------------ or failing him/her, **-------------------------------------------------

------------------------- as my/our proxy to vote for me/us and on my/our behalf at the Annual FOR AGAINST
General Meeting of the Company to be held on Wednesday September 2, 2020 and at any ORDINARY RESOLUTION

adjournment thereof. Unless otherwise instructed, the proxy will vote or abstain from Voting 1. To receive the annual report and accounts

as he/she thinks fit. 2. To declare a dividend

Dated this-------------------- ----------day of--------------------2020 3. To re-elect Mr. William Kenneth Crockett as a Director

Signature----------------------------------------------------------------- 4. To re-elect Mr. Osa Osunde as a Director

NOTE 5 To re-elect HRH Prince Aiguobasinmwin Ogie
COVID-19 Overall Risk to Stakeholders Akenzua as a Director

The novel COVID-19 virus has had a significant impact on global economies around the 6 To elect Mr. Gerald Royle Ray as a Director
world, and it is having accounting implications for many entities. Our company is no 7 To elect Mr. Paul Cardoen as a Director
different, which is why we have put in place protective measures in keeping with World 8 To elect Mrs. Ingrid Vandewiele as a Director
Health Organization, NCDC, Edo State Government and Corporate Affairs Commission 9. To re-appoint Deloitte & Touche as Independent
guidelines (safety protocols) to mitigate the spread. To ensure the safe conduct of the 27th
Annual General Meeting of Presco Plc, Notice is Hereby Given to Shareholders That Auditors
Attendance Shall Only Be By PROXY and Shall Be Limited to Only Twenty (20) Persons. 10. To authorize Directors to fix the remuneration

Pursuant to the foregoing, Shareholders are encouraged to appoint any one of the under of Independent Auditors
11. To elect members of the Audit Committee
listed proposed proxies to attend and vote in their stead at the meeting.
Name of Candidate---------------
1. Mr. Felix Nwabuko 2. Mr. Gerald Royle Ray Name of Candidate---------------
Name of Candidate---------------
3. Mr. Osa Osunde 4. Mr. Patrick Uwadia

5. Mr. Kingsley Iyekekpolor 6. Chief (Dr.) Bassey E. O. Edem

7. Mr. William Kenneth Crockett 8. HRH Prince A. O. Akenzua

9. Mr. Famous Igbinevbo 10. Engr. MOT Olayiwola Tobun

11. Bishop Goodluck Akpore

Instruments of PROXY shall be at the company’s expense

E-mail:[email protected] (to return completed PROXY Form)

1. This form of proxy together with the power of attorney or other authority, if any, under Please indicate with X in the appropriate box how you wish your vote
which it is signed or a notarially certified copy thereof must reach the Company Secretary's to be cast on the resolutions set out above, Unless otherwise
office at Obaretin Estate, Km 22, Benin Sapele Road, Ikpoba / Okha LGA, P. O. Box 7061 Benin instructed, the proxy will vote or abstain from voting at his/her
City, Edo State, not less than 48 hours before the time of the meeting. discretion. Shareholders' Right to Ask Questions Shareholders
E-mail: [email protected] reserve the right to ask questions at the Annual General Meeting.
2. Where the appointor is a corporation, this form may be under seal or under the hand of an Shareholders may also submit their questions prior to the meeting in
officer or attorney duly authorized writhing to the company, in line with Rule 19. 12 (c) of the listing rules
3. This proxy will be used in the event of a poll being directed, or demanded. of Nigerian Stock Exchange. Such questions should be addressed to
4. In the case of joint holders the signature of any one of them will suffice, but the name of all the Company Secretary and reach the Company at its Registered
joint holders must be shown Office or by electronic mail at [email protected] not later
than 7 days prior to the ate of the meeting.
THE PROXY WILL (OR ABSTAIN FROM VOTING)
AS HE/SHE THINKS FIT IN RESPECT OF PRESCO PLC, RC 174370 (27th ANNUAL GENERAL
MEETING) TO BE HELD AT DURA CLUB, OBARETIN ESTATE, KM 22, BENIN SAPELE ROAD,
IKPOBA / OKHA LGA, EDO STATE, ON WEDNESDAY SEPTEMBER 2, 2020 AT 12.OO NOON

Before posting the above form, please tear off this part and retain it for admission to the meeting

ADMISSION CARD PRESCO PLC, RC 174370

Number of shares held------------------------------------Signature------------------------------------------------ Please admit the shareholder named in this form
or his/her duly appointed proxy to the company's 27th Annual General Meeting to be held at the Dura Club, Obaretin Estate, Km 22, Benin Sapele
Road, Ikpoba-Okha LGA, Edo State, on Wednesday September 2 , 2020 at 12.00 noon
Name of Shareholder *----------------------------------------------------Signature----------------------------------
Name of Shareholder *----------------------------------------------------Signature----------------------------------
A member (Shareholder) of the company , entitled to attend and vote is entitled to appoint a proxy to attend and vote for him/her. A proxy need not
be a member. The proxy form has been prepared to enable you to exercise your right to vote.
IMPORTANT
Please insert name in BLOCK LETTERS on both the proxy form and admission card where marked*
If a proxy is to attend on your behalf, please insert the name of the person, whether a member of the company or not, who is to attend the meeting
and vote on your behalf where marked **

167

First Registrars & Investor Services Limited,
Plot 2, Abebe Village Road,
P.M.B. 12692 Marina,
Lagos,
Nigeria

168

PRESCO PLC

SHAREHOLDERS DATA UPDATE

This is to inform shareholders of PRESCO PLC in our stable to update their personal details on
their shares account(s) as detailed below

Surname:...........................................................................................................................................................................
First Name:.................................................................Other Names:.........................................................................
E-mail Address:.................................................................................................................................................................
Primary GSM Number:........................................................... Alternative GSM Number:................................................
Clearing House Number (CHN).............................................. Bank Verification Number (BVN).......................................
Preferred Stockbroker's Name..........................................................................................................................................
Date of Birth......................................................................................................................................................................
Old Address.......................................................................................................................................................................
New Address (to be used for address update)..................................................................................................................
.........................................................................................................................................................................................
Next of Kin....................................................... Next of Kin Phone Number...................................................................

I/We hereby authorise PRESCO Plc to update my/our shareholding accounts with the above information

....................................................................... ............................................................................
Individual Shareholder Signature Joint Shareholder Signature

.................................................................................... ............................................................................
Corporate Shareholder Company Seal

Kindly download the update form from our website
http://www.firstregistrarsnigeria.com/download-forms

169

First Registrars & Investor Services Limited,
Plot 2, Abebe Village Road,
P.M.B. 12692 Marina,
Lagos,
Nigeria

170

Affix E-DIVIDEND PRESCO PLC
Current RC 174370
Passport
E-DIVIDEND ACTIVATION FORM
(To be stamped by Bankers)

Write your name at the back of
your passport photograph

Only Clearing Banks are acceptable

Instruction
Please complete all section of this form to make it eligible for processing and return to the address below

The Registrar,
First Registrars & Investor Services Ltd.
2, Abebe Village Road, Iganmu
P.M.B. 12692 Lagos. Nigeria.
I/We hereby request that henceforth, all my/our dividend Payment(s) due to me/us from my/our Shares in Cadbury Nigeria Plc.
be credited directly to my/our bank details below:

Bank Verification Number

Bank Name

Bank Branch

Bank Address

Bank Account Number

Account Opening Date

Account Type (Tick) Current Savings

Shareholder Account information

Surname First Name Other Names

Address

City State Country
Previous Address (if any)
CHN (if any) Email Address
Mobile Telephone 1 Mobile Telephone 2
Signature(s)
Joint/Company’s Signatures Company’s Seal

Authorized Signature of Banker Authorized Stamp of Banker

FirstRegistrars

& INVESTOR SERVICES

First Registrars & Investor Services Limited

...connecting you to your wealth.

Website:www.firstregistrarsnigeria.com; Email: [email protected]

171

First Registrars & Investor Services Limited,
Plot 2, Abebe Village Road,
P.M.B. 12692 Marina,
Lagos,
Nigeria

172

Affix E-DMMS PRESCO PLC
Current RC 174370
Passport EDMMS

(To be stamped by Bankers)

Write your name at the back of
your passport photograph

Instruction
Please complete all sections of this form to make it eligible for processing. Thereafter, return it to the address below:

The Registrar,
First Registrars & Investor Services Ltd.
2, Abebe Village Road, Iganmu
P.M.B. 12692 Lagos. Nigeria.

Bank Verification Number

Bank Name
Bank Branch
Bank Address

Bank Account Number

Account Opening Date Current Savings
Account Type (Tick)

Shareholder Account Information

Surname First Name Other Names

Address :

City State Country
Previous Address (If any)
CHN (If any) Email Address
Mobile Telephone 1 Mobile Telephone 2

Signature(s) Joint/Company’s Signatories Company’s Seal

Authorised Signature of Banker Authorised Stamp of Banker

FirstRegistrars

& INVESTOR SERVICES

173

First Registrars & Investor Services Limited,
Plot 2, Abebe Village Road,
P.M.B. 12692 Marina,
Lagos,
Nigeria

174

1. Complete, sign and date the form E-PRODUCTS FirstRegistrars
2. Fill out all compulsory (*) fields
3. Fill in CAPITAL LETTER E-PRODUCTS ACTIVATION FORM & INVESTOR SERVICES

You need not worry about the safety of your shares anymore, simply stay aboard with our e-Product and services
E-SHARE NOTIFIER SMS alerts on transactions that occur on your share account (AGM & EGM, Dividend Payments, Bonuses, Debits/Credits etc.)

ONLINE-ACCESS Online access to your share account statements. You can view and print your account statement, make change of address and access dividend info etc.

M-ACCESS Smart way to access your stock balance, dividend amount etc. via. SMS on your mobile phone. Simply send your assigned PIN to 6591. The service is
available only in Nigeria and attracts N20/SMS by network operator

Instruction
Please fill the form and return to the address below:

The Registrar,
First Registrars & Investor Services Ltd.
2, Abebe Village Road, Iganmu
P.M.B. 12692 Lagos. Nigeria.

Shareholder Account Information First Name* Other Names
Surname*

Address Line 1*

Address Line 2*

City State* Country

GSM No (Mobile)* GSM No (Telephone)*

Email Address *

Signature(s)* Corporate stamp/Seal*

Charges: =N1000 per annum/product
Individuals: =N2000 per annum/product
Corporate Bodies:

Please tick() the product(s) you are activating

All payments should be made into the First Bank account number designated for each product below:
E-Share Notifier activation Account No. 2013302579
Online access activation Account No. 2013798370
M-access activation Account No. 2011760908

Thereafter, a copy of the payment slip should be attached to this form upon submission

First Registrars & Investor Services
...connecting you to your wealth

website: www.firstregistrarsnigeria.com; E-mail: [email protected]

175

First Registrars & Investor Services Limited,
Plot 2, Abebe Village Road,
P.M.B. 12692 Marina,
Lagos,
Nigeria

176

This form is to be completed typewritten excluding signatures only No.

STOCK/SHARE TRANSFER

FOR THE CONSIDERATION stated below the “Transferor(s)” named do hereby transfer to the transferee(s) named

the shares or stock specified below subject to the several conditions on which the said shares or stock are or is now

Full Name of Company or
Undertaking

Amount or Number and full WORDS
details of Stock or Shares

FIGURE

TRANSFER FROM SELLER
TRANSFEROR(S) name(s) and
address(es) in full (preferably
type-written or in Block Capitals)

Consideration

TRANSFER TO BUYER
TRANSFEREE(S) name(s) and
address(es) in full (preferable
type-written or in Block Capitals)

Certificate to cover the within-mentioned share/stock lodge with SIGNED, SEALED AND DELIVERED by the parties to this transfer Date

In the presence of
Signature

Name & Address SELLER signature Seal
Seal
Description/Occupation Seal
In the presence of

Signature

Name & Address

Description/Occupation R signature
In the presence of YE signature
U
Signature B

Name & Address

Description/Occupation
In the presence of

Signature

Name & Address

Description/Occupation signature

177

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