17 November 2008
The drive for customers by the Oceanic Registrars, a subsidiary of Oceanic bank International Plc has yielded results, with the firm clinching new big time accounts.
Registrars are agents of company secretaries and they maintain registers of shareholders.
The new accounts signed by Oceanic Registrar include Courtville investment plc, Arco petrochemical engineering company limited, Afrinvest limited, Nigeria Re-insurance plc,
Diaspora investment fund (from PHB Asset Management) and Ecobank Nigeria plc- rights issue.
Sources close to Oceanic Registrars said the new clients reflect companies growing taste and desire to sign on registrars that have the capacity to deliver superior services.
Oceanic Registrars is also planning a series of country-wide shareholders' fora in Abuja, Kano and Port Harcourt. According to Dr. (Mrs.) Cecilia Ibru, chairman of Oceanic Registrars, the fora are designed to bring together shareholders for deliberation on issues concerning them.
The fora will serve as an avenue to educate shareholders on new trends in the market and the need for them to always be abreast of developments in the stock market.
Oceanic Registrars came into being to meet the needs of companies who desire modern registrar services. Since coming into existence, it has facilitated processes in the capital market (primary & secondary market) especially in Initial public issue, right issue and offer for sales.
Registrars facilitate the process of change in the secondary market administration of share.They assist public companies to perform their corporate action in areas like closure of register date, dividend payment, script issue, stock reconstruction, stock split, merger and acquisition.
It is one of the subsidiaries of Oceanic Bank International Plc established to enable the bank become a one stop financial super market.
These subsidiaries have high potentials of contributing effectively to the turnover of the bank.
The subsidiaries include: Oceanic Registrars Limited, Oceanic Trustee Limited, Oceanic Custodian Limited, Oceanic Insurance Limited, Oceanic Mortgages Limited, Oceanic Securities Limited and Oceanic Capital Market.
The bank's decision to establish the subsidiaries was borne out of the need to further maximize the benefit inherent in the new capital regime and effectively utilize its huge resources for the purpose of posting enviable returns. The subsidiaries would ensure that the bank is adequately positioned to meet the various needs of its customers.
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