PREMIER PAINTS : QUARTER 4 - FINANCIAL STATEMENT FOR 2021

PREMIER PAINTS PLC

UN-AUDITED REPORT AND FINANCIAL STATEMENTS FOR THE THIRD QUARTER ENDED 31 DEC, 2021

TABLE OF CONTENTS	PAGE
CORPORATE INFORMATION	3
DIRECTORS INTEREST & SHAREHOLDING ANALYSIS	4
SHAREHOLDING STRUCTURE/ FREE FLOAT STATUS	5
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME	6
STATEMENT OF FINANCIAL POSITION	7
STATEMENT OF CHANGES IN EQUITY	8
STATEMENT OF CASH FLOWS	9
STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES	10-22
NOTES TO THE FINANCIAL STATEMENTS	23-25
FIVE-YEAR FINANCIAL SUMMARY	26

PREMIER PAINTS PLC

UN-AUDITED REPORT AND FINANCIAL STATEMENTS FOR THE THIRD QUARTER ENDED 31 DEC, 2021

CORPORATE INFORMATION

BOARD OF DIRECTORS
Chief Ogooluwa Bankole	Chairman
Dr. Mufutau Adeoye Yusuf	Managing Director
Mr.Adedoyin Adeyinka	Non-Executive
Mr. Olaleye Adeyinka	Non-Executive
Engineer M.K.O. Balogun	Non -Executive
Dr.Banji Oyegbami	Non-Executive
Alhaji Rasheed.O.Yussuff	Non-Executive
SECRETARIES
Mrs. Fatima Lawal

REGISTERED OFFICE

KM 2, Ifo Ibogun Road, Ifo, Ogun State

REGISTERED NUMBER

RC49197

REGISTRAR

Cardinal Stone (Registrars) Limited

335/ 337, Herbert Macaulay Way, Sabo B/Stop

Yaba,

Lagos

BANKERS

Unity Bank Plc

Zenith Bank Plc

Wema Bank Plc

Polaris Bank Plc

Access Bank Plc

AUDITOR

TAC Professional Services,

(Chartered Accountants)

Plot 22, Adebisi Oguniyi Crescent,

Off Oladimeji Alo Street,

Lekki Phase 1, Lagos.

Directors' interest in shares

Pursuant to Sections 275 and 276 of the Companies and Allied Matters Act, CAP C20 Laws of the Federation of Nigeria 2004, the direct and indirect interest of the Directors in the shares of the Company as notified by them and recorded in the Register is as follows:

PREMIER PAINTS PLC DIRECTORS' HOLDING AS AT 31 DEC 2021 AND 31 DEC 2020

	31-Dec-2021		31-Dec-2020
NAMES OF DIRECTORS	HOLDING	% HOLDING	HOLDING	% HOLDING
CHIEF ABEL GBOLAHAN O. BANKOLE	15,548,850	12.64	15,548,850	12.64
MR. ADEDOYIN A. ADEYINKA		12.02		12.02
MR. OLALEYE A. ADEYINKA	INDIRECT	51.22	INDIRECT
	63,000,000	39.20	63,000,000	51.22
				39.20
DR. M.K.O. BALOGUN
ALHAJI RASHEED O. YUSSUFF	NIL		NIL
DR. BANJI OYEGBAMI	NIL		NIL
ENGINEER OLAWALE BANKOLE	1, 500, 000	1.22	1, 500, 000	1.22
DR. ADE YUSUF			NIL
TOTAL	80, 048, 850	64.86	80, 048, 850	64.86

Directors' interest in contracts

None of the Directors has notified the Company for the purpose of Section 277 of the Companies and Allied Matters Act, CAP C20 Laws of the Federation of Nigeria 2004 of any direct or indirect interest in contracts with which the Company is involved as at 31 December 2021 (2020: Nil).

Analysis of shareholding

According to the Register of Members, the following shareholders held more than 5% of the Issued Share Capital of the Company as at reporting date.

	2021		2020
	Number of	% Holding	Number of	% Holding
	shares		shares
Chief A.G.O. Bankole	15,548,850	13%	15,548,850	13%
TGHL Capital Limited	63,000,000	51%	63,000,000	51%
& Clover Global Resources Ltd

SECURITIES TRADING POLICY

The Company confirms that there is in place a Securities Trading Policy which applies to all employees and Directors of the Company in compliance with Rule 17.15 of The Disclosure of Dealings in Issuers' Shares, Rules of the Exchange, 2015 (Issuers' Rules) which states that: ―Every Issuer shall establish a Securities Trading Policy which apply to all employees and Directors and shall be circulated to all employees that may at times possess any insider or material information about the Issuer. The Trading Policy shall include the need to embrace confidentiality against external advisers'

The Company has complied with the provisions of Section 14 of the Amended Listing Rules of the Nigerian Stock Exchange by adopting a Code of Conduct regarding securities transactions by its Directors and Staff. All Directors and all Staff have complied with the Listing Rules and the Issuer's Code of Conduct regarding securities transactions.