cement company of northern nigeria CCNN

[maxogundu]

Hi All,

I bought CCNN shares while a corper (NYSC) at 1st Bank Plc Jos 2001 but have changed locations since then, and I'm now living abroad. Does any one know how I can trace or get my shares back? I remember receiving a letter about CCNN annual meeting years back but since then nothing?? Advice will be appreciated pls!

[DaInvestor]

Originally Posted by maxogundu

Hi All,

I bought CCNN shares while a corper (NYSC) at 1st Bank Plc Jos 2001 but have changed locations since then, and I'm now living abroad. Does any one know how I can trace or get my shares back? I remember receiving a letter about CCNN annual meeting years back but since then nothing?? Advice will be appreciated pls!

there are a lot of specifics u left out like have u gotten ur cert since u said u got a letter from them meaning u are already a shareholder so u were alloted shares in the company, when did u change this address and did u instruct the registrers, have u recieved any other correspondence from them like bonus or divivdend??? my advice to u is to give a letter of authority to someone in nigeria to go to the registrers office to verify ur position, there u will be able to get a new cert after following the process and ur stock position in the company. hope i ve been able to help. good luck

[hispy99]

CCCN UnAudited Results for Period Ended 3/31/2008
2008 2007 Change
Gross Earnings 2.19 2.53 -13.57
Production Cost 1.46 1.79 -18.45
PBT 0.446 0.404 10.24%
PAT 0.135 -0.018 840%

All figures in billions

[billions]

CEMENT COMPANY OF NORTHERN NIGERIA PLC
HALF YEAR AUDITED ACCOUNTS FOR THE PERIOD ENDED 30-06-2008
2008 2007 %CHANGE
TURNOVER N4.389b N4.572b (4)
PROFIT BEFORE TAXATION N725.151b N227.178b 219
TAXATION (N114.292b) (N38.000b) 200
PROFIT AFTER TAXATION N610.858b N189.178b 223
PROPOSED INTERIM DIVIDEND/SHARE 45KOBO CLOSURE
OF REGISTER 4TH TO 5TH SEPTEMBER 2008 PAYMENT
DATE 15TH SEPTEMBER 2008

[Babs_O]

Sokoto cement firm records N611m profit
From Eric Meya, Sokoto

AFTER several years in the red, Cement Company of Northern Nigeria Plc (CCNN) may have eventually returned to profitability.

It was something to celebrate last year when the company posted an after-tax profit of N139 million and shareholders received a dividend of 10 kobo per share.

But indications were that last year's performance will pale into significance when 2008 is through.

Already, the half-year report shows that the company posted a post-tax profit of N611 million. The figure for the same period last year was N189 million.

Impressed by this outstanding performance, the company's board of directors at its recent meeting decided that a dividend of 45 kobo per share was in order this time around.

Although, the turnaround in the fortunes of the company, which commenced production 41 years ago became noticeable since 2000 when Heidelberg Cement Group became the core investor with the acquisition of 50.7 per cent Federal Government shares.

However, the peak performance by the company so far heralded the assumption of responsibility as the new core investor by Damnaz Cement Company Nigeria Limited, which acquired Heidelberg Cement shares in March this year.

Damnaz Cement Company Limited (DCC) was established in May 2007 as a "special vehicle" to acquire Heidelberg's 50.7 per cent of CCNN and 93 per cent share of Societe Nigerienne are Cimenterie (SNC) in the Republic of Niger.

DCC came into scene following the failure of discussions about the sale of Heidelberg Cement share in CCNN.

The Chairman, Dr. Bernd Scheifele, explained that the sale was in line with a strategic reorientation in the Heidelberg Cement Group.

According to him, the group in future wants to focus its financial resources on markets where it can obtain the highest market shares.

The brains behind DCC are a group of professionals with extensive experience in the cement industry.

They are led by the former Managing Director and later Chairman of the CCNN, Dr. Ibrahim A. Gobir, who is now the executive chairman of Damnaz.

There are negotiations of various types of co-operation agreements going on between DCC and potential future domestic and international partners.

Although DCC is likely to go public in future, the development of the values will come up first.

Mr. Alf Karlsen, who came with the former core investor as managing director has retained this position.

He told newsmen at the end of the recent meeting of the board of directors that the new core investor had undertaken a study of different ways of increasing the production capacity of the plants, adding that the target was to have a production capacity of 1.5 million tonnes of cement per year as against the present 550,000 tonnes per year.

He said that such an expansion would require investments ranging from N15-20 billion.

According to him, the expansion would enable the company remain in effective competition with other cement producers in the country who were already expanding their production capacities.

He said that CCNN had secured enough limestone resources to sustain the envisaged expansion.

He said that the current high demand for the company's product was likely to remain for the third quarter of the year as many construction projects were going on.

In his view, the importation would not affect competition as domestic production was not enough to satisfy the nation's requirement, adding that in future domestic production will take a large share of the Nigeria market.

He however advised that a control system should be evolved to ensure that imported cement did not fall below the required standard.

Given the fact that the rights issue of last year was over-subscribed by 160 per cent raising funds for the expansion project is not expected to be much.