Thursday, October 29, 2015 6.50 PM / PEARL Awards
The Chairman, PEARL Awards Nigeria,
Distinguished Members, PEARL Awards Board of Governors,
Distinguished Partners from the Media,
Distinguished Members of the 2015 PEARL Awards CWC here present,
Ladies and Gentlemen,
On behalf of the Board of Governors and Secretariat of PEARL Awards Nigeria, I have the singular honour and privilege of welcoming you all to today’s Press Conference on the 2015 PEARL Awards Nite, the land mark 20th Anniversary edition of the Awards. Our media friends would recall that this will be the second time this year that we would be briefing the Press as part of activities towards the successful hosting of this milestone edition of PEARL Awards Nigeria.
Essentially, PEARL Awards 20th anniversary Flag-Off & World Press Conference held in June this year was to commence our preparation towards another unique celebration of excellence in corporate Nigeria.
Please permit me to thank you all for honouring our invitation, despite your very busy schedules. We really appreciate you and will continue to count on your usual support and cooperation even as we together celebrate 2 decades of selfless service to the Nigerian Capital Market and our national economy.
Instituted in May 1995, PEARL Awards Nigeria has over the past 20 years organized with finesse the Awards Nite annually as part of our efforts to contribute our quota to the growth of capital market in Nigeria. Since inception and to date, we have been guided by principles of fairness, transparency and objectivity in our selection process while our scientific approach in determining nominee companies has continued unabated.
We are not unaware of the huge responsibility placed on our shoulders as a result of the reliability on our sense of judgment by investors and shareholders alike, but are determined to continue to play our part with every sense of fairness and equity.
The Nigerian capital market in the recent past continues to strive towards stability and growth. As partner in progress to capital market regulators, our mandate is to continue to engender healthy competitiveness, reward outstanding performance, thereby enhancing vibrancy of the market.
We are convinced that this will go a long way to enhance the concerted efforts being made by the regulatory authorities in restoring investors’ confidence in our capital market, deepen the market and return it to the path of sustainable growth. We would continue to identify with various initiatives by regulatory authorities and other stakeholders aimed at strengthening the market for enhanced performance, depth and sustainable growth.
To this end, our esteemed Board of Governors and the Secretariat of the PEARL Awards Nigeria have deemed it necessary to update you on activities towards rewarding deserving quoted companies and effective this year, non-listed securities and participating institutions on the OTC platform, for outstanding performances as we have done annually over the past 2 decades.
On behalf of the Governing Board & Secretariat of PEARL Awards Nigeria, I am pleased to announce that the 2015 PEARL Awards will hold on Sunday, November 29, 2015 at the Convention Centre, Eko Hotel & Suites, Victoria Island, Lagos.
The theme for this 20th anniversary edition is “The Spirit of Excellence & Resilience”. This is in realization of our unwavering commitment to rewarding outstanding performance, coupled with the determination to doggedly stay the course over the past two decades.
Please permit me to reiterate that the PEARL Awards remains the only Awards in this part of the world that identifies and rewards quoted companies based on empirical data. This is the uniqueness of the Awards, which earned it an endorsement in 2003 by the apex capital market regulatory authority, the Securities & Exchange Commission. The Awards process is predominantly based on data sourced from audited financial reports of quoted companies, utilizing credible parameters and tools of data evaluation that meet international standards.
I am pleased to formally announce that in commemoration of the 20th anniversary of the PEARL Awards, the Board of Governors has approved the broadening of the Awards with the introduction of 5 new Awards this year.
In this regard, and in response to the yearnings and aspirations of major stakeholders of our capital market, in commemoration of this 20th anniversary, PEARL Awards would be recognizing and rewarding other capital market players aside the quoted companies.
To this end, we are pleased to announce that National Association of Securities Dealers (NASD) Plc, is partnering with the PEARL Awards by institutionalizing 2 New OTC Awards effective from this year’s Awards. These are NASD Traded Security of the Year Award & NASD Participating Institution of the Year Award. Essentially, this partnership expands the scope of PEARL Awards beyond rewarding excellence in the Stock Market, but in the Capital Market as a whole.
This further consolidates our position and modest contribution to the broadening and deepening of the Nigerian Capital Market.
In the light of the twin initiatives of broadening the Awards and institutionalization of 2 Awards by NASD, I am pleased to announce that effective from this 20th Anniversary edition, PEARL Awards would henceforth be in 3 main categories namely:
(i) Main competitive Awards Category
- Sectoral Leadership Awards
- Market Excellence Awards
- Overall highest Award (The PEARL of the Nigerian Stock Market)
(ii) Honorary Awards Category
- PEARL Chief Executive Officer (CEO) of the Year Award
- Special Recognition Award for Capital Market Development
- Capital Market Journalist of the Year Award
- Media Award for Capital Market Reporting
(iii) Special Recognition Awards Category
- NASD Traded Security of the Year Award
- NASD Participating Institution of the Year Award
- Issuing House of the Year Award
- Stockbroking Firm of the Year Award
- Good Corporate Governance Award
The 20th Anniversary Awards Nite, promises to be much more glamorous than previous editions. The landmark event is being packaged with special features and innovations to be a remarkable night of excellence and glamour, where captains of commerce and industries and major stakeholders of our economy will savour the joy of excellent operational performance of quoted companies in Nigeria.
The Awards in the Main competitive Awards Category, as in past years, were determined utilizing nine performance indices namely Turnover Growth; Return on Equity; Earnings Yield; Share Price Appreciation; Dividend Cover; Dividend Yield; Net Asset Ratio; Dividend Growth and Profit Margin Ratio.
As in the past, in order to ensure fairness, objectivity and authenticity in its assessment, the Research and collation Sub-Committee, sourced the required data from the Annual Reports of quoted companies duly filed with the Nigerian Stock Exchange (NSE) and the Stock Exchange Daily Official lists for the year under consideration. The Report of the Research & Collation Sub-Committee was reviewed, verified and thereafter endorsed by the Board’s Technical Committee, which subsequently presented it to the full Board for consideration and approval.
As indicated, the 2015 PEARL Awards Main competitive category has 3 sub-categories namely the Sectoral Leadership Awards, which rewards a company for out-performing other companies within the same sector, based on aggregate points garnered from all the nine indices utilized for ranking.
The Market Excellence Awards, which is based on recognition of the entire market leadership in respect of each of the ranking indices, while the third sub-category is the Overall Highest Award – The PEARL of the Nigerian Stock Market.
Distinguished partners in the Media, I have the honour and privilege to inform you that having examined the reports of the Research & Collation Committee of the Awards Central Working Committee; reviewed and endorsed by the Technical Committee of the Board, the PEARL Awards Board of Governors has today considered and finally approved the Nominations & Awards Reports for the 2015 PEARL Awards as well as the newly introduced Awards.
In line with our annual practice, on behalf of the PEARL Awards Board of Governors, I am pleased to announce the nominations for the 2015 PEARL Awards in no particular order. The nominees for the various categories of the Awards are as follows:
SECTORAL LEADERSHIP AWARDS
(3) ICT (Telecommunications /Systems)
(4) CONSUMER GOODS (Breweries)
5) CONSUMER GOODS (Food Prod & Bev)
(6)CONSUMER GOODS (Household Prod.)
(7) FINANCIAL SERVICES (Banking)
(8) FINANCIAL SERVICES (Insurance)
(9) FINANCIAL SERVICES (Other Fin. Inst)
(10) HEALTHCARE (Pharmaceuticals)
(12) OIL AND GAS (Petroleum Products)
(13) SERVICES (Printing & Publishing)
NOMINEES FOR MARKET EXCELLENCE AWARDS
(1) TURNOVER GROWTH
(2) EARNINGS YIELD
(3)RETURN ON EQUITY
(5) DIVIDEND GROWTH
(6) DIVIDEND COVER
(7) NET ASSET RATIO
(8) PROFIT MARGIN RATIO
(9) SHARE PRICE APPRECIATION
NOMINEES FOR THE SPECIAL RECOGNITION AWARDS CATEGORY
(1) STOCKBROKING FIRM OF THE YEAR AWARD
(2) ISSUING HOUSE OF THE YEAR AWARD
(3) GOOD CORPORATE GOVERNANCE AWARD
(4) NASD TRADED SECURITY OF THE YEAR AWARD
(5) NASD PARTICIPATING INSTITUTION OF THE YEAR AWARD
As in the past editions of the Awards, the winning company for each of the Awards for which the nominees are listed above would be announced at the 2015 Awards Nite. Similarly, in line with our policy, the nominees and winner of the Overall Highest Award (The PEARL) for this year would be announced at the Awards Nite.
Distinguished Media Partners, in addition to the Main competitive Awards and Special Recognition Awards Categories, the Awardees of the Honorary Awards Category will be unveiled and honoured at the Awards Nite event.
The 2015 PEARL Awards Nite, has been packaged to be a highly successful event, in celebration of outstanding quoted companies in Nigeria. Top Capital Market players and celebrities already confirmed to grace this year’s edition of the PEARL Awards Nite include Prince (Dr.) Samuel Adedoyin, OFR, Chairman, Doyin Group of Companies & Chairman of Occasion; Mr. Mounir Gwarzo, Director- General, Securities & Exchange Commission, Nigeria; Dr. Adu Antwi, Director-General, Securities & Exchange Commission, Ghana, Chief (Dr) Olusegun Osunkeye, FCA, CON, OFR, Chairman, Lafarge Africa Plc; Mr. Yemi Akeju, President, Institute of Directors, Dr (Mrs.) Ngozi Chianakwalam, Executive Chairman, Investments & Securities Tribunal, Mr. Laoye Jaiyeola, DG/CEO, Nigerian Economic Summit Group and Chief (Mrs) Nike Akande, Former Minister of Industry, among a host of others.
Gentlemen of the Press, I must once again appreciate the consistent huge support by the Press, both print and electronic media for the PEARL Awards for almost 2 decades of its existence. We heartily express our gratitude to you all and implore you to give the 2015 Awards the highest level of publicity, as we strive together to return the market to the path of sustainable growth.
On behalf of the PEARL Awards Board of Governors, the PEARL Awards Secretariat, and the 2015 Central Working Committee, I thank you all for being part of this Press Conference and look forward to seeing you all at the Awards Nite ceremony.
I thank you all for your rapt attention.
Tayo Orekoya, FCA
President/CEO, PEARL Awards Nigeria
29th October, 2015