DAAR COMMUNICATIONS PLC DAAR COMMUNICATIONS PLC
Company No. RC 117587
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER, 2021
Wing B, 1st Floor
Bank of Industry Building
Herbert Macaulay Way
Central Business District
Abuja, FCT.
Tel: 09-2912462-3
Fax: 01-4630870
E-mail:enquiries@siao-ng.com
DAAR COMMUNICATIONS PLC
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2021
Table of Contents
Corporate Information ................................................................................... 3
Free Float Report .......................................................................................... 3
Financial Highlights ...................................................................................... 4
Statement of Directors' Responsibilities ......................................................... 6
Report of the Audit Committee ...................................................................... 7
Certification Pursuant to Section 405 of CAMA 2020 ...................................... 8
Independent Auditor's Report ........................................................................ 9
Statement of Profit or Loss and Other Comprehensive Income ...................... 14
Statement of Financial Position ................................................................... 15
Statement of Changes in Equity ................................................................... 16
Statement of Cashflows ............................................................................... 17
Notes to the Financial Statements ............................................................... 18
Other National Disclosures ......................................................................... 70
Statement of Value Added ..................................................................... 70
Five Year Financial Summary ................................................................ 71
Management Information ............................................................................ 72
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DAAR COMMUNICATIONS PLC
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2021
Corporate Information
Directors
Chief Raymond Paul Dokpesi Jnr. Mr. Tony A. Akiotu
Chief Stanley Sagboje Mr. Ambrose Somide
Dr. (Mrs.) Oluwatosin Dokpesi Engr. Tony C. Uyah
Malam Gambo Lawan Shedrack. A. Akolokwu, PhD
Barr. Charles C. Iyizoba (Died 18th December, 2021) Prof. Ralph Akinfeleye
Mr. Cornelius Oboh
Princess (Mrs.) Ibitoru Ofili JP
High Chief Raymond Aleogho Dokpesi, PhD, Dsc, OFR-Mr. Norna Awoh
Company Secretary Anopuo Donatus O. (Esq) DAAR Communications Plc Asokoro, Abuja.
Company Registration Number RC. 117587
Registered Office
Ladi Lawal Drive Kpaduma Hills, Off T. Y. Danjuma Street, Asokoro, FCT Abuja.
Auditors
SIAO Partners (Chartered Accountants) Wing B, 1st Floor, Bank of Industry Building Herbert Macaulay Way, CBD, Abuja
Tel: 09-2912462-3
Registrars
First Registrars Ltd
No. 2 Abebe Village Road Iganmu, Lagos.
Bankers
Fidelity Bank Plc First Bank Nigeria Ltd
First City Monument Bank Ltd Sterling Bank Plc
Guaranty Trust Bank Plc. Union Bank of Nigeria Plc United Bank for Africa Plc Zenith Bank PlcChairman
Group Managing Director Executive Director Executive Director Executive Director Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Independent Director
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DAAR COMMUNICATIONS PLC
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 202
Free Float Report
DAAR COMMUNICATION PLC | ||||
FREE FLOAT REPORT AS AT 31 DECEMBER 2021 | ||||
Name of Company: | DAAR COMMUNICATION PLC | |||
Board Listed: | ||||
Year End: | 31 DECEMBER | |||
Reporting Period: | YEAR ENDED 31 DECEMBER 2021 | |||
Share Price as at end of Reporting Period: | NGN | |||
DESCRIPTION | CURRENT YEAR 2021 | PREVIOUS YEAR 2020 | ||
Units | Percentage (In relation to Issued Share Capital) | Units | Percentage (In relation to Issued Share Capital) | |
Issued Share Capital | 8,000,001,000 | 100% | 8,000,001,000 | 100% |
DETAILS OF SUBSTANTIAL SHAREHOLDINGS (5% AND ABOVE) | ||||
DAAR Investment & Holding Co. Ltd | 4,890,523,000 | 61.13% | 4,890,523,000 | 61.13% |
Total Substantial Shareholdings | 4,890,523,000 | 61.13% | 4,890,523,000 | 61.13% |
DETAILS DIRECTORS SHAREHOLDINGS (DIRECT & INDIRECT), EXCLUDING DIRECTORS HOLDING SUBSTANTIAL INTERESTS | ||||
Chief Raymond Paul Dokpesi Jnr | 10,000 | 0.00% | 10,000 | 0.00% |
Mr. Tony A. Akiotu | 100,000 | 0.00% | 100,000 | 0.00% |
Chief Stanley Sagboje | Nil | Nil | Nil | Nil |
Ambrose Somide | 4,000 | 0.00% | 4,000 | 0.00% |
Dr. (Mrs) Oluwatosin Dokpesi | 120,000 | 0.00% | 120,000 | 0.00% |
Engr. Uyah Anthony Chukwuemeka | 100,000 | 0.00% | 100,000 | 0.00% |
Malam Gambo Lawan | 15,000 | 0.00% | 15,000 | 0.00% |
Shedrack A. Akolokwu, PhD | Nil | Nil | Nil | Nil |
Barr. Charles C. Iyizoba | Nil | Nil | Nil | Nil |
Prof. Ralph Akinfeleye | Nil | Nil | Nil | Nil |
Mr. Cornelius Oboh | Nil | Nil | Nil | Nil |
Princess (Mrs) Ibitoru Ofili JP | Nil | Nil | Nil | |
High Chief Raymond Aleogho Dokpesi, PhD, Dsc, OFR | 320,000,000 | 4.00% | 320,000,000 | 4.00% |
Norna Awoh | 7,000 | 0.00% | 7,000 | 0.00% |
Palesa Capital Market Associate Ltd (Indirect) | 205,000 | 0.00% | 205,000 | 0.00% |
Total Directors' Shareholdings | 320,561,000 | 4.00% | 320,561,000 | 4.00% |
Free Float in Unit and Percentage | 2,788,917,000 | 34.86% | 2,788,917,000 | 34.86% |
Free Float in Value | ||||
DECLARATIONS: | ||||
DAAR Communication PLC with a free float percentage of 34.86 % as at 31 December 2021, is compliant with The Exchange's free float requirements for companies listed on the Main Board |
DAAR COMMUNICATIONS PLC
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2021
Financial Highlights
Absolute | ||||
2021 | 2020 | Change | Changes | |
₦'000 | ₦'000 | ₦'000 | % | |
Revenue | 4,806,011 | 3,553,526 | 1,252,485 | 35 |
Loss Before Taxation | (641,942) | (2,554,036) | 1,912,094 | 75 |
Loss After Taxation | (1,153,580) | (2,346,111) | 1,192,530 | 51 |
Non-Current Assets | 10,892,586 | 12,335,358 | (1,442,772) | (12) |
Current Assets | 3,308,538 | 2,608,590 | 699,948 | 27 |
Non-Current Liabilities | 760,922 | 732,634 | 28,288 | 4 |
Current Liabilities | 10,532,901 | 10,570,549 | (37,649) | (0) |
Issued Share Capital | 4,000,000 | 4,000,000 | - | - |
Share Premium | 13,411,541 | 13,411,541 | - | - |
Shareholders' Fund | 2,907,301 | 3,640,765 | (733,463) | (20) |
Total Equity and Liabilities | 14,201,124 | 14,943,948 | (742,824) | (5) |
Loss Per Share (kobo) | (14) | (29) | (51) |
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DAAR Communications plc published this content on 05 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2022 15:57:08 UTC.
