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Skye REIT awaits SEC approval on dividend payout
Category: Investors NewsBeat
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Peter OBIORA
Proshare NI
May 26, 2009 at 18:41 GMT
Skye Shelter Fund Plc (Fund Manager: Skye Bank Plc) is awaiting the Securities and Exchange Commission (SEC) to approve its first Annual Reports and Accounts before they would payout dividend to its investors.
A Source confirmed this to Proshare NI today in Lagos Nigeria at Skye Financial Services office in Lagos Nigeria.
“We are awaiting SEC to approve our first Annual Accounts and dividend; before we can start payment of dividend to investors” the Source said.
The Source affirmed to Proshare NI that by the end of this week, Skye Shelter expects to get the approval from SEC; in order to enable the company convene it first ever Annual General Meeting (AGM); which is expected to be scheduled for June 2009; where the dividend payout to its investors would be approved.
Proshare NI further gathered that the result was sent to SEC in the first quarter (Q1) of year 2009 and the company’s year end is December 31 2009.
“Our colleague is already in Abuja to do a follow up on the Commission in the event of any clarification on certain issues” the Source said.
Skye Shelter Fund is the first ever listed Real Estate Investment Trusts (REIT) in Nigeria and Africa as a whole in a Stock Exchange.
The company listed 20 million units of shares at N100.00 per share last year on the Floor of the Nigerian Stock Exchange (NSE) in Lagos Nigeria; these shares amounted to N2.0 billion worth of shares at N100.00 per share
As earlier reported, Skye Shelter Fund offered in July 2007 to investors by way of subscription 20 million units of shares at N100.00 per share and at the close of the offer in August 2007. The Offer was reported to be oversubscribed to the tune of 102 percent (102%).
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