Omatek targets increased shareholders’ value via product innovation

BY NKIRUKA NNOROM

Omatek Ventures Plc has shown its determination to continuously deliver improved returns to its shareholders with addition of another product – Day/Night Solar Power Solution  to its array of products.

The new product is a 24-hour lighting solution that allows consumers to combine the benefits of the solar system and those of the LED technology to proffer solutions that reduce energy consumption considerably while saving costs by 60 to 85 percent.

It also offers benefit of solar hybrid alternative power solutions with the use of LED bulbs together with street lights and alternative power solution using solar and LED technology.

The company explained that use of the solar/LED solution can result in significant operational and maintenance cost savings for schools, public offices, hospitals, hotels, street lighting implementation, rural electrification and rural water system.

Speaking at the launch of the product and facility tour of its new factory, situated in Oregun, Lagos State, Omatek’s Managing Director, Engr. Florence Seriki, said that it is expected that both the revenue and profit accruing to shareholders would significantly improve going forward.

Seriki affirmed that increased activity would also be witnessed on the share price as investors begin to feel the impact of its several innovations on the company’s operation.

She said, “With what we have done today, you will begin to see both the share price of the company, the value and turnover moving skyward; that is basically what we are talking about here. The bottomline is that we are back to production and we are expecting billions of naira to start coming in on year-to-year basis.

“We started operation on a leased property, but now that we have fully settled in our own property, business has as well started and we know that the future is bright and promising for all our stakeholders.”

“We will take time to enlighten stockbrokers on some of the things we are doing and the new things Omatek has in stock for shareholders, so that they can educate them accordingly,” she added.

She explained that the new factory, which houses about six bays, would also add to the company’s profitability by the time the whole bays are put to full use, saying that with the number of bays, shareholders can be sure of better future and return on their investments.

Going down the memory lane, Seriki said that as a strategy designed to enable the company maintain the high quality of its products and meet up with the minimum order quantity requirement from the first class manufacturers of computer components, it embarked on the first of a series of repositioning in 2008 by raising the required capital through Private Placement and subsequently got listed on the stock market, thus making Omatek the first Computer company to be so listed in Nigeria.

“It is on record that Omatek is one of the few companies with accelerated entrance into the stock market, considering the short period between the private placement and the actual listing,” she added.