DAAR COMMUNICATIONS PLC
Company No. RC 117587
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2022
Baker Tilly Nigeria
7, Gwandu Close, Off Jibia Road, Off Badagry Road, Area 2,
Garki; Abuja, FCT.
Tel: 0 8 0 2 3 1 0 6 4 2 2 , 0 8 0 5 1 9 7 7 8 7 3
E-mail: b t n a b j @ b a k e r t i l l y n i g e r i a . c o m
DAAR COMMUNICATIONS PLC
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2022
Table of Contents
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 | 16 |
Statement of Financial Position | 17 |
Statement of Changes in Equity | 18 |
Statement of Cashflows | 19 |
Notes to the Financial Statements | 20 |
Other National Disclosures | 69 |
Statement of Value Added | 70 |
Five Year Financial Summary | 71 |
2
DAAR COMMUNICATIONS PLC
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2022
Corporate Information
Directors | |
Chief Raymond Paul Dokpesi Jnr. | Chairman |
Mr. Tony A. Akiotu, FNGE | Group Managing |
Chief Stanley Sagboje | Executive |
Dr. Ambrose Somide | Executive |
Dr. (Mrs.) Oluwatosin Dokpesi | Executive |
Engr. Tony C. Uyah | Executive |
Mallam Gambo Lawan | Non-Executive |
Shedrack. A. Akolokwu, PhD | Non-Executive |
Prof. Ralph Akinfeleye | Non-Executive |
Mr. Cornelius Oboh | Non-Executive (Died in December 2022) |
Princess (Mrs.) Ibitoru Ofili JP | Non-Executive |
High Chief Raymond Aleogho Dokpesi, PhD, Dsc, OFR- | Non-Executive |
Mr. Nornah Awoh | Independent |
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 | |
Baker Tilly Nigeria (Chartered Accountants), | |
Gwandu Close, Off Jibia Road, | |
Off Badagry Road. Area 2, Garki, | |
Abuja; FCT | |
Tel: 08023106422, 0805197873 | |
Registrars | |
First Registrars & Investor Services Ltd | |
No. 2 Abebe Village Road | |
Iganmu, Lagos. | |
Bankers | |
Fidelity Bank Plc | |
First Bank of 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 Plc |
3
DAAR COMMUNICATIONS PLC
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2022Free Float Report
DAAR COMMUNICATION PLC
FREE FLOAT REPORT AS AT 31 DECEMBER 2022
Name of Company: Board Listed: Year End: Reporting Period:
Share Price as at end of Reporting Period:
DAAR COMMUNICATION PLC
31 DECEMBER
YEAR ENDED 31 DECEMBER 2022 NGN
DESCRIPTION | CURRENT YEAR 2022 | |
Percentage (In | ||
relation to | ||
Issued Share | ||
Units | ||
Issued Share Capital | 8,000,001,000 | 100% |
DETAILS OF SUBSTANTIAL SHAREHOLDINGS (5% AND ABOVE) | ||
DAAR Investment & Holding Co. Ltd | 4,890,523,000 | 61.13% |
Total Substantial Shareholdings | ||
4,890,523,000 | 61.13% |
PREVIOUS YEAR 2021
Percentage (In relation to Issued Share
UnitsCapital) 8,000,001,000 100%
4,890,523,00061.13%
4,890,523,00061.13%
DETAILS OF 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, FNGE | 100,000 | 0.00% | 100,000 | 0.00% |
Chief Stanley Sagboje | Nil | Nil | Nil | Nil |
Dr. 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 |
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% |
Nornah Awoh | 7,000 | 0.00% | 7,000 | 0.00% |
Palesa Capital Market Associate Ltd | 205,000 | 0.00% | 205,000 | 0.00% |
(Indirect) | ||||
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 2022, is compliant with The Exchange's free float requirements for companies listed on the Main Board
4
DAAR COMMUNICATIONS PLC
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2022Financial Highlights
2022 | 2021 | Absolute | Change | |
Changes | ||||
₦'000 | ₦'000 | ₦'000 | % | |
Revenue | 4,787,259 | 4,806,011 | (18,752) | - |
Loss Before Taxation | (755,824) | (641,942) | (113,882) | (18) |
Loss After Taxation | (768,066) | (733,463) | (34,603) | (5) |
Non-Current Assets | 9,354,544 | 10,892,586 | (1,538,042) | (5) |
Current Assets | 3,095,668 | 3,308,537 | (212,869) | (6) |
Non-Current Liabilities | 817,037 | 760,922 | (56,115) | (7) |
Current Liabilities | 9,419,869 | 10,458,831 | (1,038,962) | (10) |
Issued Share Capital | 4,000,000 | 4,000,000 | - | - |
Share Premium | 13,411,541 | 13,411,541 | - | - |
Shareholders' Fund | 2,213,306 | 2,981,371 | (768,065) | (26) |
Total Equity and Liabilities | 12,450,212 | 14,201,124 | 1,750,212 | 12 |
========= | ======== | ========== | === | |
Loss Per Share (kobo) | (10) | (9) | ||
==== | ==== |
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
DAAR Communications plc published this content on 17 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 April 2023 21:35:45 UTC.