DANGOTE FLOUR CERTIFICATES

Investors who took part into the Dangote Flour Mills 2007 Initial Public Offer (IPO) have renewed their complaints on the non-receipt of share certificates/ return money warrants.
A complaint from one Ukonu Tobechukwu an investor into the Dangote Flour Mill offer reads thus: “I earlier informed that am yet to receive Share Certificates and Return/Money for the stated Dangote Flour Shares.
Well, I received a share certificate against my name Ukonu, Tobechukwu in July 2008 for only 750 units compared to the 3,000 units applied for.
I have not received any Return Money till date.
I have not also received share certificate against the name Ogueri Chimaraoke for the 2,000 units applied for. I have provided all documents involved in this transaction.
The phone lines provided below are not working, and non-response to emails is not a customer friendly attitude. Please direct my request to the appropriate personnel”
Proshare NI sought to clarify the issue with Oceanic Registrars today in Lagos Nigeria, Segun Ogunnoiki; Managing Director/Registrar of the company; in a reaction to the investors complaints, affirmed that Oceanic Registrars have been doing its best to make sure that people get their return money warrants and share certificates.
Ogunnoiki affirmed that Oceanic Registrars has urgently requested all receiving agents, banks and Stockbrokers who participated in the offer to return money warrants and share certificates in their possession for direct posting to shareholders.
Proshare confirmed this through a publication by the company on July 14, 2008 in The Guardian Newspaper.
Ogunnoiki further affirmed that Oceanic Registrars has since dispatch same through Bulk Post Ventures.
“Following this, the complaint has drastically reduced” he said.
He however, advised those who have not received to contact any Oceanic Bank branch for the matter to be resolved.
In the same vein, Ogunnoiki confirmed to Proshare NI that return money warrants are been revalidated by Oceanic Registrars. “For those whose return warrants have expired, we advise them to apply for reissue, we revalidate these warrants and pay them into their accounts” he said.
Dangote Flour Mills had in September, 2007 offered to the investing Nigerian Public 1,250 billion Ordinary Shares of 50 Kobo each at N15.00 per share.
As earlier reported by Proshare NI, Oceanic Registrars had affirmed that they are ready to reissue returned share certificates by hand as regards the Dangote Flour Mills 2007 offer.

WRITTEN BY PETER OBIORA.