Preparatory to the listing of its shares on the Nigerian Stock Exchange (NSE), Afromedia Plc, weekend unveiled a new board charged with the responsibility of taking the company to the public as well as making it a pan African entity.

Speaking at the unveiling of the new Board in Lagos, Group Managing Director/CEO, Afromedia Plc, Mr.Akin Ire Olopade said " In line with its well-articulated corporate repositioning, by the end of May, 2008, the company successfully concluded its private placement, and as a prelude to the Listing of its shares on the floor of the Nigerian Stock Exchange (NSE).

It currently has about 1734 shareholders, and currently stands as the company with the highest capitalisation and asset base of over N5billion in the Outdoor industry in Nigeria".

He further disclosed that the company's target is to be across the African continent while its shares will be the toast of investors on the NSE by the time the shares is finally listed.

According to him " The company recorded a profit growth margin by 500 per cent, with a profit target of over a billion by the end of 2008. In fact, our target is to be across Africa in the next three years. We will be in the West Africa in the short term, and Africa as a whole in the long term".

The unveiling cocktail of the new Afromedia board of directors showcased the corporate turnaround team that would take Afromedia Plc to the next level in Out- of- Home (OOH) advertising in the continent.

This new board which is made up of erudite technocrats and accomplished businessmen is led by Dr. Onaolapo O. Soleye who used to be a former minister of finance, Akin Ire Olopade - Group Managing Director/CEO, Engr. Patrick O. Nwabunie - Group Deputy MD/COO , Sunday O. Shadrach Nwachukwu - Group Finance Director, Alhaji Mohammed Gobir Non_Executive Director and Chief Alex Amorighoye - Non-Executive Director

Synergy Capital Advisory and Investment Services which hosted the new Board of Directors of Afromeida Plc at the cocktail said it was instrumental in resstructuring Afromeida Plc in terms of capital and corporate governance.

According to Managing Director of Synergy Capital and Advisory Investment Services, Mr. Ayodele Arogbo, " "the need to restructure Afromedia Plc came as a result of the organization's repositioning strategy. By choosing the right partner in Synergy Capital, Afromedia Plc was able to tap into Synergy Capital's sound financial expertise in order to achieve their corporate vision".

With the aid of a strong management team Synergy Capital group was instrumental in raising the required capital and to position Afromedia as the leading OOH media in the continent and finding the right mix for Afromedia Plc new Board of Directors".

Synergy Capital & Advisory Limited was incorporated in January 2007 to provide bespoke business and financial advisory services, funds management and investment fiduciary and capital structuring services.

The company's' objective is to use their sound understanding of the Nigerian business and financial environment, significant experience advising & financing various industry sectors, and excellent specialist finance knowledge & skills to offer its clients world class advisory services.

Some of the services rendered by Synergy Capital Advisory and Investments Services include Business modeling and Strategy, Investment Fudiciary Services, Mergers and Acquisition Advisory, Investment Advisory and Funds Management.