Listing on the Nigerian Stock Exchange & Facts behind the - PowerPoint PPT Presentation

Listing on the Nigerian Stock Exchange & Facts behind the Listing November 4 th , 2014

I. The Opportunity II. Overview of Omoluabi Savings & Loans Plc. - The Bank - History and Business of the Company - Key Highlights - Board & Management Team - Ownership Structure - Business Prospects and Going Concern Status - Overview of Regulation III. Financial Performance IV. Thank You table of contents

I. The Opportunity

The Opportunity – Omoluabi NGN 1.65 Billion NSE IPO Omoluabi Savings and Loans Plc. Issuer Listing Nigerian Stock Exchange (“NSE”) Transaction Structure Initial Public Offer (“IPO”) The Offer 3,000,000,000 Ordinary Shares of N0.55 each. Market Capitalization at Initial Public Offer Price-Pre offer: N1,100,000,000 Market Capitalization at Initial Public Offer Price-Post offer: N2,750,000,000 Issuing House: MorganCapital Securities Limited Syndicate Underwriters: MorganCapital Securities Limited/UniCapital Plc. Designated Advisers: MorganCapital Securities Limited Events Admission and commencement of unconditional trading on the NSE: November 4 th , 2014.

II. Overview of Omoluabi Savings & Loans

THE HE BAN ANK The cardinal objective of establishing Omoluabi Savings and Loans Plc. ( “ OMOLUABI ” OR “ the bank ” ) is to avail the people of Osun State in particular and Nigeria in general the opportunity to acquire their own homes. Our target clientele include individuals, corporate bodies, educational institutions, government parastatals and agencies, co-operative societies, non-governmental organisations, etc. operating within and outside Osun State. We are also totally committed to the provision of high quality banking and financial operations to our numerous customers. HIST STOR ORY AND BUSIN AND BUSINESS S OF THE OF THE BAN ANK  The Bank changed its name to  The Bank is a Primary Mortgage Livingspring Savings & Loans Limited Institution conceptualized and put in on 30th June, 1998, and to Omoluabi place by the Government of Osun State, Savings & Loans Limited on 17th April Nigeria. 2013.  The Bank was incorporated on the 9th  The Company converted to a Public of March 1993 as Osun Building Liability Company (PLC) on 8th May, Society Ltd (Mortgage Bankers). 2013 in line with its vision to broaden its shareholder-base and to get Listed  The Bank was issued with a licence to on the Nigerian Stock Exchange. carry on Mortgage Banking Business in April, 1993.

KEY HIG HIGHL HLIGH GHTS Strong Economic Indicator Renaissance Capital, a leading emerging markets investment bank in Africa, has revealed that Osun, Ekiti, Lagos and Oyo States are the leading economies in Nigeria. Being a State Mortgage Institution, the Bank will definitely benefit to a large extent as a result of the rapid transformation going on in the State. The economy of the Osun State grew from N110 billion Gross Domestic Product (GDP) recorded in 2010 to over N800 billion 2013. This has created a lot of demand for Mortgages, as disposable income of the citizens’ increases so demand also increases. The influx of people into Osun is creating a brand new economy that needs to be serviced.

Favorable Industry Fundamentals Housing Shortfall in Nigeria is estimated at between 12 – 16 million. In Osun State there is a shortfall of over three hundred thousand housing units. Commercial real-estate is also in high demand as a result of increased economic activities in the State. Mortgage Finance requirement for the country is conservatively put at between 15 – 20 trillion naira. Only about 5% of the 13.7 Million housing units in Nigeria currently financed with a mortgage. The rental market for real estate is very huge; an average household in Nigeria spends about 40% of their disposable income on rents; this so because well over 70% of Nigerians still lives in rented apartment mainly because of inaccessibility to Mortgage Finance. Housing stock in Nigeria is estimated at 10.7million, out of which only about 5% is in formal mortgage. These numbers are lower in Osun State, there is a lot of opportunities for Mortgage Institutions like Omoluabi. Home ownership in Nigeria put at 10% compared to 72% US, 78% UK, 60% China, 54% Korea, 92% Singapore.

Mr. Alaba A. Kolawole (Member) Mr. A.A. Kolawole is a graduate of Accountancy from the University of Maiduguri in Borno State between 1982 and 1986. He is a Fellow of Certified National BOARD O BOA D OF DIR F DIRECT CTORS ORS Accountants of Nigeria and a member of the Chartered Institute of Taxation of Nigeria. He joined the Civil Service Dr. Wale Bolorunduro - Chairman of the Board as an Accountant Grade II in 1987 and rose through the Dr. Wale Bolorunduro is a seasoned banker who had made his impact felt ranks to the position of Accountant General of the State in both the banking and energy sector in Nigeria. He attended Obafemi of Osun. He has attended many workshops and seminars Awolowo University where he bagged a first class degree in Metallurgical in financial management and public finance. He is and Materials Engineering in 1990. He had then the best faculty grade. married with children. He proceeded to University of British Columbia in Canada in 2009 where Mr. Samuel A. Aina (Member) he bagged his Master of Science degree in Business Management and a Doctorate Degree in 2002. He later proceeded to Leeds Business School Mr. Aina attended University of Ibadan between 1984 in United Kingdom in the year 2009 where he has a Master of Science and 1987 where he bagged a Bachelor of Science Degree degree in Corporate Governance. in Geography with the Second Class Upper Division. He also obtained a Masters Degree in Geography from the Chief (Mrs.) Olaitan A. Olotu (Member) same institution in 1990. Mr. Samuel Ayanleye Aina Chief (Mrs.) O.A. Olotu attended University of Ife now Obafemi Awolowo worked briefly as a lecturer of Rufus Giwa Polytechnic, University between 1971 – 1976 where she bagged her first degree in Owo before joining the Civil Service of the Old Oyo State Estate Surveying and Management and a Master’s Degree in Business in 1989. He rose through the ranks to the position of Administration in 1995 from the same University. She is a fellow of the Permanent Secretary, Ministry of Finance and Economic Nigerian Institute of Estate Surveyors and Valuers (A.N.I.S.V). She is also Development. Mr. Aina is a seasoned administrator who an Associate of Rating and Valuers Association of the United Kingdom. is married with children. She currently the Managing Director of Olaitan Olotu & Co. a firm of Estate Valuers and Developers in Ibadan.

Mr. Adetunji A. Adepeju (Director) Mr. A.A. Adepeju attended the Polytechnic Ibadan between 1975 and 1977 where he obtained an Ordinary National Diploma in Accountancy. He became a Chartered Accountant in 1982 and he became a Fellow of the Institute of Chartered Accountants of Nigeria in 1994. Mr. Adetunji Adepeju is also professional Member of Nigerian Institute of Management. He worked in the defunct Co-operative Bank Plc. and was once the Chief Executive of Co-op Building Society. He is currently the Managing Consultant of Projektlink Konsult Limited in Ibadan. He is married with children. KEY MA MANAGEM AGEMENT TEAM AM Mr. Babafemi Alao (Managing Director/CEO) Mrs. Esther Idowu (Head, Banking Operations) He is a holder of a Bachelor of Science (BSc. Hons, 1984) in She is a holder of B.Ed (BUSMgt) 1993 and PGD in Public Business Administration from the University of Lagos. He has in Administration also in 1993 from the University of Port Harcourt. addition a Masters of Business Administration (MBA) degree from She also has a Masters Degree in Public Administration and the University of Ilorin. He came on board as a Manager Business Administration from OAU, Ife in 2012. She was (Marketing) at the commencement of operations in 1999 where employed as a Senior Banking Officer in 1999. She is a pioneer he coordinated all marketing activities of the company. staff and has risen to the managerial cadre. Mr. Josiah Ogunlumade (Chief Financial Officer) Mr. Adelani Fasakin (Head, Internal Audit) He holds a Higher National Diploma (HND 1996) in Banking and He obtained in 1978 a Bachelor of Science (BSc. Hons.) degree in Finance from Osun State College of Technology Esa Oke. Mr Botany from the University of Ibadan. He also holds a University Fasakin also has a Master’s degree in Business Administration of Lagos Bachelor of Science (Bsc. Hons 1986) degree in from the Ekiti State University in year 2005. Accounting. He has already completed the course work for the award of Masters of Business Administration (MBA) at the Obafemi Awolowo University, Ile-Ife. He qualified in 1998 as an Associate of the Institute of Chartered Accountants of Nigeria (ICAN).

OW OWNERSH SHIP P STRUCT STRUCTURE URE Top Five (5) Shareholders Shareholder Nos. of Ordinary Shares Ownership % MorganCapital Securities 1,950,000,000 39.00% Local Government Areas 1,090,133,708 21.80% UniCapital Plc. 1,050,000,000 21.00% State Government of Osun 909,706,292 18.18% Others 160,000 0.01% Total 5,000,000,000 100%

OW OWNERSH SHIP P STRUCT STRUCTURE URE 1% 18% MorganCapital 39% Local Government Areas Unicapital Plc State Government of Osun 21% Others 21%