By Paul Metu & Hanah Isiboru

Mr. Godwin Anono: What GSK is trying to do is what we call share reconstruction, which is a process where a company reduces the volume of it shares and its shareholders end up losing a lot from their investment in the company. But in this case, the shares, which GSK Nigeria investors will lose, are what foreign shareholders GSK will gain. We have not said they (GSK United Kingdom) should not increase their shares; what we are saying is that they should go and buy at the market price.

But in a situation whereby they want to reduce our own profit to increase theirs without paying for our losses, will be to detriment of Nigeria shareholders. I commend Nigerians for the bold step they have taken by kicking against such proposal. If not for the pressure we have put on them, they might have sold 75 percent of GSK Nigeria shares to GSK U K and Nigeria investors would have lost a lot. GSK Nigerian shareholders have said “We will not throw our shares away. If they are to buy our shares, it should be at the market price.”

All those that have sold their GSK Nigeria shares in the past made their profit and now you want to reduce the profit of those of us that have nurtured ours without any form of compensation.  (Mr. Godwin Anono is the Chairman Standard Shareholders Association of Nigeria)

Pastor Olagola Samson: This is a court order meeting; GSK Nigeria wants foreign shareholders to buy most of their shares. We the shareholders in Nigeria are the owners of GSK Nigeria and will not allow foreign investors to buy over 75 percent of the shares in GSK Nigeria. There are some pensioners, who survive with the little money they get from their shares and if this proposal is implemented, what becomes of such persons. If at they wish to possess higher ownership, they can take at most 60 percent, but as for 75 percent, it is just too much. So, at the moment, the whole issue is pending. Such a proposal cannot go true because shareholders have refused to agree to it and the company cannot do anything without the support of the shareholders.

Mr. Samuel Ekweariri:  The plan is not a fair one and Nigeria investors are not accepting it. Besides the fact that the price they want to pay is very low, we don’t want them to colonise us. Investors should be allowed to enjoy the product of their long term investment rather that dispossess them of what they have laboured for many years by selling 75 percent of GSK Nigeria to foreign investors. Nigeria investors have said no to such proposal, so GSK would have to consider a second option.

Miss Lovelin Thomas: The step GSK Nigeria intends to take is not a fair one. Allowing foreigners to come into Nigeria and take over greater ownership of a company, while Nigeria investors end up losing a great portion of their shares and leaving them with little to hold on to is not fair. We are not saying GSK should not sell its shares, but if there should be a take over of GSK Nigeria by foreigners, it should be a fair one. It should not be foreigners coming in to buy the shares at their own rate and wanting to possess a greater ownership and at a price that will favor them.

Mr. Chinyeremaka .N. Ohaja:  What the company is about to do is to dash out the right of shareholders, but it has been suspended. It is likely they are going to seek advice from their partners in U.K. on the next move to take concerning the refusal of the shareholders. We the shareholders have rejected the proposal, which is the reason why the AGM has been postponed. They will have to agree with the shareholders because we are not willing to let go 75 percent of GSK Nigeria. They would have to reconsider the issue and make a better proposal that would favor both the company and the investors.

COMPLAINTS AND INVESTIGATIONS
My broker is suspended. I need update on my shareholdings
Please since the suspension of my stockbrokers (Lion stockbrokers) I don’t know what has being happening to my shares. Since I bought 27, 000 units of Unity Bank shares, I have not received any dividend from them, Likewise my other shares. Please can I know what is happening to my other shares in Cornerstone Insurance, Dunlop, Finland Bank, Wema Bank, Transcorp, Unic Insurance, Lasaco e.t.c (Mrs. Akerele Christiana)

Investors Forum
We advise that you visit CSCS yourself and obtain your CSCS statement. The statement will show you the shares in your account. If the shares you expect to see in the account are not there, it may mean that your broker has sold the shares without your authorisation. In that case, report to the Securities and Exchange Commission (SEC). But before you do that you can visit the registrars of the companies to ascertain your shareholding status in the companies. If the report from the registrars does not agree with the shares you were supposed to have, you can then report the broker to the SEC. Meanwhile you can contact Unity Registrars Limited for your investment in Unity Bank. The company is located in Unity Bank Building, (2nd Floor) Plot 1683, Sanusi Fafunwa Street Victoria Island, Lagos. Tel:  0803-3006-038, 01-7408123, 01-8418765

First Bank where is my dividend?
I have shareholding of more than 40,000 units in First Bank, but I have not received my dividend for year 2011 and 2012. My Stockbroker is Cashcraft Asset Management Limited. (Abraham Ayigbe, Sapele)

Investors’ forum
Please contact First Registrars, Plot 2 Abebe Village Road, Iganmu or call
08033018295, 08191410456

No dividend from FCMB, Fidelity
I have not received dividends from Fidelity Bank, FCMB. Where is Aims Asset office in Abuja?

Investors Forum
For your Fidelity Bank dividend, contact First Registrars, Plot 2 Abebe Village Road, Iganmu or call   08033018295, 08191410456. For your FCMB dividend, contact City Securities Limited. The address is Primrose Tower, 2nd Floor, 17A Tinubu Street, Lagos. Tel: 234-1-2641298, 234-1-7924462.   The contact of Aims Asset and. Management is 23, Ajao Road, Off Adeniyi Jones, Ikeja. Tel: 2347029523916, 8095988382; Email: [email protected].

ESL Registrar phone number does not exist
Please, kindly give me a contact number to call ESL Registrars. The number 01-7301260 is not working/does not exist; that’s the response I got when I called.  I bought some shares from Ecobank but haven’t received dividend going to three years now.  (Hauwa)

Investors Forum
Please call an official of Ecobank on 08023877699

Yet to receive certificate from Dangote flour
I bought Dangote Flour share since 2007. From that time till now, I am yet to get my share certificate. Please assist me.  (Michael Mosindi, Asaba, Delta State)

Investors Forum
Please contact ESL Registrars Ltd, 16/A Rauf Taylor Close, Off Idego Street, Victoria  Island, Lagos or call 08023877699

I need update on Oceanic Bank
I’d like to know how and what happened to Oceanic Bank shares since the bank has been absorbed by Ecobank. I have some of their shares and want to know my fate. (Moses)

Investors Forum
The shareholders of Oceanic Bank were given one share of Ecobank Transnational in exchange of one share of Oceanic Bank. To ascertain the status of your shareholding in Ecobank, contact  Please contact ESL Registrars Ltd, 16/A Rauf Taylor Close, Off Idego Street, Victoria  Island, Lagos or call 08023877699

I need update on ADC Airlines
I bought ADC airline shares in 2006 before one of their planes crashed; I didn’t get anything from them, please any information? (Adeniyi Adebowale.   Ibadan)

Investors Forum
Please contact the company’s registrar- City Securities. The company is located in Primrose Tower, 2nd Floor, 17A Tinubu Street, Lagos. Tel: 234-1-2641298, 234-1-7924462.

No communication from Daar Communication
I bought shares of Daar Communication sometime ago and I’m yet to get my share certificate or any mail from them. Please how do I go about this? Thanks ([email protected] )

Investors Forum
Please contact First Registrars Plot 2 Abebe Village Road, Iganmu or call
08033018295, 08191410456

I Need advice on unclaimed dividends
I sold my shares in January 2013 but I have a backlog of unclaimed dividends from 2010. Kindly advice me on how to reclaim my dividends as I have the warrants with me. (Ade Osemudiame)

Investors Forum
Take the dividend warrants to the registrars of those companies. They will revalidate the warrants, thereafter you can pay them into your account. However, you should also register for electronic dividend, so that future dividends can be paid directly into your account.

I need advice on my late mother’s shares
Please I need to know what to do concerning my late mother’s shares in UACN. Since she passed on, there has been no follow up. Please what is the procedure and how do we ascertain the exact amount of shares she has. Thank you (Mrs.  J. Obi)

Investors Forum
The first thing is to visit the registrar of UACN, and inform the company about her death.  However, her shares can only be accessed by whoever she indicated as her next-of-kin, and the process is usually a long one. You will need the services of a stockbroker in this regard, preferably the one your mother patronised