Yes, you should either contact Unity Registrars Ltd or complete a mandate form obtainable from the Registrars office or through download form
Provide the Registrar with the following documents:
- Photocopy of marriage Certificate and original for sighting
- Original Sworn affidavit in case of change of family name
Original Bankers confirmation of signature bearing passport photograph of Shareholder and duly endorsed by the Bank (where necessary to change signature)
These are evidence of your ownership of the shares and represent your interest in the company. A share is part ownership in the company. As a shareholder, you are one of the owners of the company and the number of shares you hold is a measure of how much of the company you own.
You can determine the number of shares you hold by adding up all your share certificates and holdings in CSCS, referring to your recent dividend warrant, or by contacting Unity Registrars Ltd.
Please contact the Registrar in writing. Perhaps the share certificate has been returned unclaimed.
If a share certificate is lost, stolen or destroyed, notify the Registrar immediately so that a “caution” can be placed on our records to prevent transfer of ownership to another person. In order to replace your certificate(s).
- You need to execute an indemnity form at your expense to protect all parties against the possibility that the lost certificate might return to circulation. You will also need to arrange for a further guarantee by a clearing bank or a recognized insurance company.
- Also you are expected to obtain a sworn affidavit showing loss to the certificate
If you have already completed a letter of indemnity and sent it back to us, the original certificate is now invalid. You must send it back to us to be cancelled.
If you have not yet returned it, please send the letter of indemnity back to us with a covering letter confirming that you have found the certificate and there is no need for a replacement to be issued.
Legally, a child under 18 years of age may not have shares registered in their own name. Usually, if shares are purchased on behalf of a child, they are registered in the name of a guardian who is free to deal on the shares on behalf of the child.
You can buy or sell shares through a stockbroker service
If you have bought or sold securities through a stockbroker on the floor of the Nigerian Stock Exchange, the CSCS will automatically send us instructions to amend our records on the appropriate date.[T+3 ].This is the date on which shares and money are exchanged in the market and is known as the ‘settlement date’. Our records are usually updated 48 hours thereafter.
Depending on the time the deal is processed, it may take a day or so for the new details to be displayed on our online service. If the correct information is still not shown after this time, your Stockbroker should be able to confirm what has happened.
Dividends are payments out of operating profits by a company to shareholders and are paid net of withholding tax (Currently 10%). It may be paid once a year (final dividend) or twice a year (interim & final dividend). We have however, seen cases when dividend are paid three times. (1st Interim, 2nd Interim & Final) as approved by the shareholders at the Annual General Meeting.
A dividend is normally paid net of a portion of tax, referred to as a ‘withholding tax’, which is then used by the company to pay the Corporation Tax that is charged on its profits. The portion of tax credit is currently fixed at one tenth of the gross dividend.
Dividend mandate rejected by the bank
If your dividend is paid directly into you bank account it may be rejected for two reasons:
- The account has been closed.
- The account details are incorrect.
In this situation, Unity Registrars will receive notification from the bank. The payment will be cancelled and we will issue a cheque to your registered address.
Dividend cheque is out of date
You should return the out of date cheque(s) to us for verification, re-dating and re-issued.
Please contact the Registrar immediately either in writing or in person.
If you lose your dividend warrant you should contact Unity Registrars Ltd as soon as possible, confirming where payment has been lost. We will arrange for the warrant to be stopped and issue you with a duplicate free of charge. However, upon recovery you are expected to return the original one to the Registrar.
Dividend warrants are currently valid for six months from the date of payment. After this time you should return any uncashed warrant to Unity Registrars Ltd for revalidation free of charge.
Sometimes companies offer shareholders a way of taking dividends in the form of company shares. That is by traditional Scrip scheme. In a Scrip scheme, the cash dividend is not paid to holders. Instead, shares are allotted to participating holders and share certificates sent to them on the payment date. Scrip dividends
Dividends are a portion of a company’s profit that is paid to the shareholders, that is, the owners of the company. Dividends therefore vary in their amount depending on how profitable the company is, and if a company is not making any profit at all, it is unlikely to pay a dividend to shareholders.
Interest is paid by the company on money it has borrowed (for example, by issuing Loan Stock to investors) and is usually paid in arrears at the rates and times specified in accordance with the terms and conditions.
If shares are bought at different times, the registration details given to the Registrar may differ slightly on each occasion. This can result in the Registrar opening additional shareholder accounts for you. If the names are the same, Please write to the Registrar requesting us to consolidate or merge your shareholder accounts. Note to indicate the various account numbers and your signature must be duly signed.
Shareholders have the right to receive dividends (if payable), to receive key company information (such as Annual Reports /Accounts), to attend Annual General Meetings or Extra-ordinary General Meetings and to Vote and be voted for on certain affairs of the company.
Most limited companies are required to hold an annual general meeting, or AGM of shareholders at which decisions are taken on the company’s business. The ‘ordinary’ business of the AGM is repeated every year and includes accepting the company’s accounts for the year and fixing the proportion of a company’s profits that will be paid back to shareholders as a dividend.
The company directors often take this opportunity to put forward other business requiring the agreement of shareholders such as setting the limits on the number of shares that can be issued in the following year.
There are other types of shareholder meeting, such as an extraordinary general meeting (EGM) that are called if there is urgent business requiring shareholder approval that cannot wait until the next AGM.
If you cannot go to the meeting yourself, you can appoint someone else to go in your place as your ‘proxy’. To do this, you must complete the proxy card that is sent to you with your notice of meeting and annual report and send it back to us 48 hours in advance of the meeting. If a poll is taken on a resolution, your proxy can cast your vote for you but is not usually able to speak on your behalf.
If you cannot appoint a proxy to attend the meeting in person, you can still send the proxy form back to us and in the event of a poll on any resolution, the Chairman will cast your vote for you in line with the instructions you give on the form.
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