Omatek shareholders approve proposed five kobo dividend


Shareholders of Omatek Ventures Plc have approved a dividend of five kobo per ordinary share due to every shareholders of the company for the financial year ended June 30, 2009.

Addressing shareholders of the company at its first yearly general meeting in Lagos yesterday, the Chairman of Omatek Ventures Plc, Mr Timothy Farinre, told shareholders that the company recorded profit before tax of N364.9 million and profit after tax of N314.4 million.

The company's paid up share capital stood at over N1.4 billion with net asset of N688 billion in the period under review.

He explained that the improved performance was occasioned by the management effort towards ensuring that only resourceful professional with proven track records are recruited to enhance operations of the company.

To consolidate on the performance, Farinre told shareholders that the company has acquired additional factory at Oregun, in Ikeja, with plant and machine worth over N1.15 billion installed to facilitate operations in the factory.
The company, according to him, has entered into franchise agreement with South South and South East region of the country for business expansion.

Speaking further, Managing Director of the company, Mrs Florence Seriki, said the company has embarked on the development of one-stop-shop.

Apart from laptops, desktops and home entertainment products, Omatek has diversified into power products/24 hour solar power inverter hybrid solutions.

The company also recently launched its e-learning initiative to provide a platform to ensure that information and communication technology tools are deployed to schools/class rooms under a carefully structured learning environment equipped with internet connectivity.

Omatek said it has also provided wi-max technology in several locations under its e-xpress consumer scheme, adding that the programme has empowered numerous Nigerians, Ghanaians and African to acquire computer through an easy and convenient means with payment spread over 12-24 months.


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