MINL LIMITED ANNUAL REPORT AND ACCOUNTS FOR THE

Transcription

1 ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER,

2 I N D E X FOLIO Corporate Information 1 Directors Report 2 Auditors Report 5 Balance Sheet 6 Profit and Loss Account 7 Cash flow Statement 8 Value Added Statement 9 Notes To The Accounts 10 Five Year Financial Summary 19

3 CORPORATE INFORMATION 1 2 BOARD OF DIRECOTRS Mr. A. Guha Mr. S. R. Mehta Mr. M. K. A. Shobiye REGISTERED OFFICE 21/23, Abimbola Street Isolo Industrial Estate Isolo Lagos. HEAD OFFICE 3 21/23, Abimbola Street Isolo Industrial Estate Isolo Lagos. 4 SECRETARIES Mathmer & Associates 115, Palm Avenue Mushin Lagos. 5 A U D I T O R S Messrs Opone Johnson & Co. ( Chartered Accountants ) 21, Alao Street Ajao Estate Lagos. 1

4 DIRECTORS REPORT FOR THE YEAR ENDED 31ST DECEMBER, The Directors submit their Annual Report together with the Audited Financial Statements for the year ended 31st.December,. 1 OPERATING RESULT Profit Before Taxation Taxation Profit After Taxation Dividend Declared Interim Current Year Retained Earnings 2,664,434, ,974,786 92,999,177 28,829,745 2,571,435, ,145,042 (90,789,787) (28,144,834) 2,480,645, ,000,208 ============ ============= 2 DIVIDEND The Directors are pleased to recommend to members that the interim dividend of N90,789,787 ( 28,144,834) declared in based on the Company's interim Accounts be presented to members for adoption as final dividend at the 2010 Annual General Meeting. 3 LEGAL FORM The Company was incorporated in September, 1995 as private Limited Company. 4 PRINCIPAL ACTIVITIES AND BUSINESS The Company is engaged in the Manufacturing and Marketing of Crown Corks, Ropp Caps, Aluminium Embossed Coils, Sleeves, Galvanised Corrugated Roofing Sheets, Aluminium Roofing Sheets and the Non Ferous Alloy Ingot for export market only. 5 SHAREHOLDINGS The Company's shares are held by underlisted Shareholders as at 31st December,. No. of % Status Share Manaksia Limited & it's Nominees 907,897, Foreign ========= === 2

5 6 DIRECTOR'S RESPONSIBILITIES The Directors are responsible for the preparation of financial statements which give a true and faire view of the state of affairs of the Company at the end of each financial year, and of the profit or loss for that year and to ensure compliance with the provisions of the Companies and Allied Matters Act, In this regard, the Directors are of the view that the Company will continue in business which forms the basis for the use of the "going concern basis" in the preparation of the financial statements. The directors hereby give assurances that : * Proper accounting record were maintained; * Internal control procedures instituted are expected to safeguard the assets, prevent and detect fraud and other irregularities. * Applicable accounting standards were followed; * Judgements and estimates made are reasonable and prudent. * Sound ethical business practices and good corporate governance prevails in the running of the Company's affairs. 7 DIRECTORS The following persons served on the Company's Board during the year under review : Mr. A. Guha (India) Executive Director Mr. S. R. Mehta (India) Executive Director Mr. K. A. Shobiye (Nigerian) Director 8 EMPLOYMENT AND EMPLOYEES a. Employees' Involvement and Training It is the Company's policy to adequately train its manpower for better result. In this regard, efforts would be made to continue to improve staff welfare and encourage staff participation in decision affecting them. b. Employment of Disabled Persons It is the policy of the Company that there should be no discrimination in considering applications for employment including those form disabled person. As at 31st December, no disabled person was in the employment of the Company c. Number of Emplyees The Company employed 619 persons in its workforce during the 12 months period ended 31st December,. 3

6 9 AUDITORS In accordance with Section 357(2) of the Companies and Allied Matters Act (CAMA) 1990 Messers Opone Johnson & Co. ( Chartered Accountants ), have indicated their willingness to continue in office. Dated this 18th day of February, By Order of the Board Sd/. MATHMER & ASSOCIATES SECRETARIES 4

7 OPONE JOHNSON & CO. AUDITORS' REPORT Chartered Accountants Corporate Head Office: 21, Alao Street, Off Osolo Way, Ajao Estate, Lagos Tel: , TO THE MEMBERS OF MINL LIMITED We have audited the Financial Statements of MINL Limited for the year ended 31st December, set out on pages 6 to 18 which have been prepared on the basis of significant accounting policies set out on pages 10 to11. In line with standard audit practice, we have obtained the required information and explanations considered appropriate for the purpose of forming an audit opinion RESPONSIBILITIES OF DIRECTORS The directors are responsible for the preparation of financial statements in accordance with the accounting standards issued by Nigeria Accounting Standards Board and to ensure compliance with the provisions of the Companies and Allied Matters Act CAP C20 LFN These responsibilities are to ensure that : * Proper accounting records were maintained; * Internal Control procedures instituted are adequate to safeguard the assets, prevent and detect fraud and other irregularaties. * Applicable accounting standards are followed; * Judgements and estimates made are reasonable and prudent. AUDITORS RESPONSIBILITY It is our responsibility to form an indepdendent opinion, based on our audit, on those financial statements prepared by the directors and to report our opinion to members of the Company BASIS OF OPINION We conducted our audit in accordance with generally accepted auditing standards. An audit includes the examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the singificant estimates and judgements made by the directors in the preparation of the financial statements, and whether the accounting policies are appropriate to the Company's circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, wheter caused by fraud or other irregularity or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial statements to ensure. that the relevant accounting standards and the provisions of Companies and Allied Matter Act CAP C20 LFN 2004, were complied with. O P I N I O N In our opinion, the Company has kept proper books and the financial statements, which are in agreement therewith, prepared in accordance with the Statements of Accounting Standards applicable in Nigeria and in prescribed manner the information required by the Companies and Allied Matters Act CAP C20 LFN 2004, give a true and fair view of the state of the Company's affairs as at 31st December, and of its Profit, Cash flow Statement for the year ended on that date. LAGOS NIGERIA 18th February, Sd/ OPONE JOHNSON & CO. (Chartered Accounatants)

8 BALANCE SHEET EMPLOYMENT OF FUNDS NOTES Fixed Assets 2 7,572,876,399 2,347,591,684 NonCurrent Assets 3 1,770,618, ,891,714 Current Assets 4 9,193,073,868 2,849,852,899 Less : Current Liabilities 5 7,816,557,316 2,423,132,768 Net Current Assets 1,376,516, ,720,131 Other Liabilities 8 (50,496,380) (15,653,878) 10,669,515,002 3,307,549,651 =========== ============= FUND EMPLOYED Share Capital PaidUp ,897, ,448,339 Revenue Reserve 19 9,761,617,133 3,026,101,311 Shareholders Funds 10,669,515,002 3,307,549,651 Medium Term Loan 10,669,515,002 3,307,549,651 Sd/ Sd/ A. Guha S. R. Mehta Sd/ K. A. Shobiye DIRECTORS The Accounting Policies and Notes thereon form part of these Accounts. 6

9 PROFIT AND LOSS ACCOUNT NOTES Turnover 23,095,530,028 7,159,614,309 Less : Cost of Sales 8 18,575,233,714 5,758,322,451 Gross Profit 4,520,296,314 1,401,291,857 Deduct : Admin. & Estab. Charges Net Profit Before Interest Charges 11 1,394,738, ,368,867 3,125,558, ,922,990 Interest Charges 12 (463,453,726) (143,670,655) Other Income 13 Profit Before Taxation 2,330, ,452 2,664,434, ,974,786 Taxation 16 Net Profit After Taxation (92,999,177) (28,829,745) 2,571,435, ,145,042 Dividend 23 Profit After Dividend Earning Per Share (N) (90,789,787) (28,144,834) 2,480,645, ,000,208 =========== =========== The Accounting Policies and Notes thereon form part of these Accounts. 7

10 CASH FLOW STATEMENT OPERATING ACTIVITIES Cash Receipts from Customers 24,885,675,571 7,714,559,427 Cash Paid to Suppliers of Goods for Resale (14,120,319,057) (4,377,298,908) Cash Paid Staff Cost & Operating Charges Cash from Operating Activities (Notes 21) Income Tax Paid (3,245,406,135) (1,006,075,902) 7,519,950,380 2,331,184,617 (47,280,505) (14,656,957) 7,472,669,875 2,316,527,661 INVESTMENT ACTIVITIES Acquisition of Fixed Asset (2,311,032,242) (716,419,995) Sale of Fixed Assets Investment in Subsidiary Company Dividend Recived Investment in Shares 794,050 (378,368,600) 246,156 (117,294,266) Investment in Shares Net Cash provided by Investing Activities FINANCIAL ACTIVITIES (2,688,606,792) (833,468,106) Dividend Paid Loan Repayment (353,802,500) (109,678,775) Interest Paid on Loan Capital Net Cash provided by Financing Activities (463,453,726) (143,670,655) (817,256,226) (253,349,430) Net Decrease in Cash amd Cash Equivalent 3,966,806,856 1,229,710,125 Cash and Cash Equivalent at Start of Year Cash and Cash Equivalent at End of Year (Notes 22) (3,700,374,382) (1,147,116,058) 266,432,474 82,594,067 =========== ============== 8

11 STATEMENT OF VALUE ADDED Turnover BoughtInMaterials & Services 23,095,530,028 18,693,218,785 4,402,311,243 7,159,614,309 5,794,897,823 1,364,716,485 Other Income Value Added 2,330, ,452 4,404,641,732 1,365,438,937 =============== =============== APPLIED AS FOLLOWS : % % Employees Salaries & Benefits ,119, ,446,892 Government Taxation ,999, ,829,745 Providers of Loan Capital ,453, ,670,655 Shareholders Dividend ,789, ,144,834 Provision for Fixed Assets Replacement Depreciation 965,634, ,346,604 Retained for Future Expansion ,480,645, ,000, ,404,641, ,365,438,937 "Value Added Income represents the additional wealth the Company has been able to create on its own and i employees efforts. This statement shows the allocation of that wealth between employees, capital providers, governments and that retained in the business for future creation of wealth" 9

12 NOTES TO THE ACCOUNTS 1 ACCOUNTING POLICIES (a) (b) Basis of Preparation of Financial Statements The Financial statements have been prepared under the Historeical Cost Convention. Historical cost is only modified where revaluation of Fixed Assets takes place. Turnover Turnover represents the valud of goods and services invoiced to third parties net of VAT. ( c) Nature of Business The Company is engaged in the Manufacturing and Marketing of Crown Corks,ROPP Caps, Aluminium Embosed Coils, Sleeves, Galvanized Corrugated Roofing Sheets, Aluminium Roofing Sheets, Non Ferous Alloy Ingots etc. (d) (e) Fixed Assets Fixed Assets are recognised and accounted for at cost while end of year carrying amount are shown after adjustment for accumulated depreciation and disposal. Depreciation of Fixed Assets Depreciation is calculated in the Accounts using the straightline method so as to write off the cost of the Fixed Assets over their estimated useful lives at the following rates : Land and Development Cost Nil Building 2.5% Leasehold Improvement 10% Plant and Machinery 10% Furniture and Equipment 10% Motor Vehicles 20% (f) (g) Stocks Stocks are valued at the lower of cost or estimated net relizable value. Costs include cost of purchases and other associated charges in bringing the stocks to its location, Manufactured products and workinprogress includes appropriate conversion cost. Debtors Debtors are stated at their book value subject to the application of specific provision for debts considered doubtful of recovery where the need arises. 10

13 NOTES TO THE ACCOUNTS (h) (i) (j) (k) (l) (m) Foreign Currency Transaction Transactions in foreign currency are recorded at the official rates of exchanges in force when such transaction are completed. Assets and Liabilities denominated in foreign currency are transferred at applicable official rates of exchange in force at the end of the accounting period. The resulting exchange gains or losses are included in profit and loss. Pension Fund and Gratuity Scheme The Company's pension scheme is contributory, in accordance with the Pension Reform Act of Provisions In line with SAS 23, the Company is required to make provisions where legal or constructive obligation arises that can be reliably estimated and it is envisaged that a transfer of economic benefits will be required in the settlement of the obligation. Impairment The carrying value of the Company's Assets is reviewed at each balance sheet date of ascertain if there is any indication of impairment. If the result of the reciew indicates any impairment, the asset's recoverable amount is estimated and compared with carrying value of the assets. Where the result show a fall in value, the difference will be recognize as impairment loss and charged to Profit and Loss Account. Cash and Cash Equivalent Cash and cash equivalent represents cash in hand, cash balances with banks, bank overdrafts and other short term funds held with banks. Taxation Current Taxation Income Tax is calculated at 30% of the assessable income, while educatrion tax is provided at the prevailing rate of 2% of the adjusted profit for the year. The Company export division profit is exempt from income tax after adjustment for capital allowances claim. Deferred Taxation Deferred Taxation is provided in the account using the liability method at the current rate of income tax on all timing differences between the treatment of certain items for accounting purpose and their treatment for tax in accordance with SAS

14 NOTES TO THE ACCOUNTS 2a. FIXED ASSETS Land & Land & Plant & Plant & Motor Motor Furniture & Furniture & Building Building Machinery Machinery Vehicles Vehicles Equipment Equipment Total Total (i) Fixed Assets in Use Cost At Start Additions Deposals 463,313, ,313, ,627, ,627,034 7,677,260,207 1,731,419,089 9,408,679,296 2,379,950, ,739,918 2,916,690, ,700,090 7,558,500 (7,125,000) 122,133,590 37,727,028 2,343,135 (2,208,750) 37,861,413 66,631,889 3,434,718 70,066,607 20,655,886 1,064,763 21,720,648 8,328,905,200 1,742,412,307 (7,125,000) 10,064,192,507 2,581,960, ,147,815 (2,208,750) 3,119,899,677 Depreciation At Start Current Year Deposals 48,825,552 15,135,921 2,300,434, ,134,618 70,825,610 21,955,939 42,685,140 13,232,393 2,462,770,555 9,466,349 2,934, ,644, ,809,671 18,916,329 5,864,062 5,607,427 1,738, ,634,206 58,291,901 18,070,489 3,232,078,354 1,001,944,290 (6,414,000) 83,327,939 (1,988,340) 25,831,661 48,292,567 14,970,696 (6,414,000) 3,421,990, ,458, ,346,604 (1,988,340) 1,060,817,136 N.B.V. 31/12/09 405,021, ,556,545 6,176,600,942 1,914,746,292 38,805,651 12,029,752 21,774,040 6,749,952 6,642,201,746 2,059,082,541 (ii) Fixed Assets Held Fixed Asset in use Building & Machinery under construction & installation 3 OTHER NON CURRENT ASSETS Advance to Subsidiary Company Investment in Subsidiary Company Investment in Shares Investments Deferred Assets Share Increase Cost (Note 18) 4 CURRENT ASSETS Stock and Goods in Transit Trade Debtors Sundry Debtors & Prepayment Cash and Bank Balances 6,642,201, ,674,653 7,572,876,399 1,742,819,281 2,059,082, ,509,142 2,347,591, ,273,977 20,000,000 7,799,150 6,200,000 2,417,737 1,770,618, ,891,714 1,770,618, ,891,714 ============ ============ 3,859,861,560 1,196,557,084 2,324,685, ,652,490 1,542,094, ,049,259 1,466,432, ,594,067 9,193,073,868 2,849,852,899 ============ ============= 12

15 NOTES TO THE ACCOUNTS 5 CURRENT LIABILITIES Trade Creditors payable within 12 months Sundry Creditors payable within 12 months Overdraft and Short Term Facilities Dividend Taxation Term Loan due within 12 months 6 OTHER LIABILITIES Deferred Taxation 7 TURNOVER Export Sales and Incentives Domestic Sales 8 PRODUCTION COST Raw Material Consumed Factory Salaries and Wages Factory Overhead Plant and Machinery Dep. Factory Rent Add :Work in Progress at Start Less : WorkinProgress at Close 6,136,597, ,381,505 1,200,000, ,579,574 92,999,177 2,423,132,768 ========= ======== ============ ============ 5,142,955,055 80,135, ,186, ,809,672 6,186,474 18,639,590,213 5,778,272,966 39,044,851 1,902,345,089 63,668, ,000,000 56,289,668 28,829,745 7,816,557,316 2,423,132,768 7,816,557,316 50,496,380 15,653,878 1,527,359, ,481,440 21,568,170,544 6,686,132,869 23,095,530,028 7,159,614,309 16,590,177, ,501, ,310, ,644,102 19,956,367 18,678,635,064 12,103,904 5,790,376,870 79,616,733 24,681,187 18,599,018,331 5,765,695,683 9 COST OF SALES Stock at Start Production Cost Stock at Close 925,243, ,825,468 18,599,018,331 5,765,695,683 19,524,261,775 6,052,521, ,028, ,198,699 18,575,233,714 5,758,322,451 13

16 NOTES TO THE ACCOUNTS 10 OPERATING RESULT The Operating Profit is stated after changing the following : Director's Fees Audit Fees Depreciation 100,000 5,250, ,634,206 31,000 1,627, ,346, OPERATING COST Directors Fees Staff Salaries Establishment Charges Audit Fees Bank Commission & Charges Technology and Know How Fees Depreciation 100,000 31,000 52,617,429 16,311, ,293, ,871,137 5,250,000 1,627, ,432,635 53,454, ,054, ,536,779 33,990,103 10,536,932 1,394,738, ,368, INTEREST ON LOAN CAPITAL Interest Charges on Loans & Overdraft Facilities 463,453, ,670, OTHER INCOME Exchange Gain / Loss Fixed Assets Disposal Dividend Received 2,247, ,706 83,050 25,746 2,330, ,452 =============== ================ 14

17 NOTES TO THE ACCOUNTS 14 SHARE CAPITAL (a) Authorised Capital 1,000,000,000 Ordinary Shares of N1.00 ( 0.31) each (b) Issued Capital 907,897,869 Ordinary Shares of N1.00 ( 0.31) each 1,000,000, ,000,000 ============== ============== 907,897, ,448,339 ============== ============== 15 FIXED ASSETS DISPOSAL ACCOUNT Cost Less : Depreciation Sales Proceeds Profit on Disposal 7,125,000 2,208,750 6,414,000 1,988, , , , ,156 83,050 25,746 ======= ======= 16 a) CURRENT TAXATION Company Tax Education Tax 36,714,206 11,381,404 56,294,571 17,451,317 93,008,777 28,832,721 b) DEFERRED TAXATION Charged to Financial Statements ============= ============= The Company did not make provision for accumulated deferred tax liability amounting to N1,448,428,802 ( 449,012,929) in line with SAS 19. The Board of Directors decided that Deferred Taxation provision should not be made on the basis that the liability on Deferred Tax is not likely to crystalise within the next five (5) years. The Company expects to make significant Capital Investments in new manufacturing facilities in Nigeria. 17 STOCK Raw Materials WorkinProgress Finished Goods Consumables 2,810,959, ,397,534 79,616,733 24,681, ,028,061 20,256, ,198,699 6,279,664 3,859,861,560 1,196,557,084 15

18 NOTES TO THE ACCOUNTS 18 DEFERRED ASSET Share Increase Cost ( Amortised) ============== ============== 19 RETAINED EARNINGS Profit after Tax and Dividend Balance Brought Forward Prior Year Adjustment Tax provision written back Retained Earnings 2,480,645, ,000,208 7,290,991,302 2,260,207,304 9,771,637,133 3,029,207,511 (10,020,000) (3,106,200) 9,761,617,133 3,026,101,311 ============== ============== 20 EMPLOYEES AND STAFF COST a. Number The total number of employees of the Company as at the end of the year is 605. The breakdown of the employees are given below : Management Senior Staff Junior Staff b. Staff Cost Salaries and Benefits ,119,005 96,446,892 =============== ================== 21 RECONCILIATION OF NET INCOME OF NET CASH PROVIDED BY OPERATING ACTIVITIES Operating Profit Depreciation Interest Paid on Loan Capital Dividend Received Investment in Shares Profit / Loss on Fixed Assets Disposal Amortisation of Deferred Charges Stock Debtors Creditors 2,664,434, ,974, ,634, ,346, ,453, ,670,655 (83,050) (25,746) 1,375, ,250 (1,005,346,364) (311,657,373) 774,102, ,971,667 3,656,379,917 1,133,477,773 7,519,950,380 2,331,184,617 ================ ================== 16

19 NOTES TO THE ACCOUNTS 22 RECONCILIATION OF CASH AND BANK BALANCES Cash in Hand and at Bank Overdraft 1,466,432, ,594,067 (1,200,000,000) (372,000,000) 266,432,474 82,594,067 ============== ================= 23 DIVIDEND ACCOUNT Interim Dividend 2008 Interim Dividend 90,789,787 28,144,834 90,789,787 28,144,834 ============== ============== The dividend chargeable to the profit and loss account is recognized in line with SAS 23 whereby dividend declared is reported in the Accounts in the year the dividends is declared. 24 a) TERM LOANS At Stard Additions Repayment Year End Balance b) Analysis of Term Loan Current Liabilities Due within one year Term Loan Due after more than one year 353,802, ,678, ,802, ,678, ,802, ,678,775 =============== =============== ============== ============== 17

20 NOTES TO THE ACCOUNTS 25 RELATED PARTY TRANSACTIONS The Company conducted transaction with Manaksia Limited of India that fall within the definition of a Related party. The Company is a wholly owned subsidiary of Manaksia Limited, India and considers such transaction to be in normal course of business and at terms which correspond with those conducted at an arm's length with third parties. 26 TECHNOLOGY SUPPORT AGREEMENT Under the Technical Support Agreement, Manaksia Limited, India is to provide MINL Limited, Nigeria the needed Technical Knowhow for the manufacture in Nigeria of products covered in the Agreement, Technical Information ( inclusive of quality control and marketing) and training to ensure that MINL personel acquire appropriate technology. The Company made provision in the financial statement to account for the amount payable under the Technical agreement. 27 WHOLLY OWNED SUBSIDIARY COMPANY The sum of N 1,742,819,281 ( 540,273,977) has been spent so far as advances on the new subsidiary Jebba Paper Mills Limited. The financial statements of Jebba Paper Mills Limited does not form part of the parent Company's operating result for the year ended 31st December,. The business of the Company and that of the subsidiary are so different that they cannot reasonably be treated as single undertaking. 28 POST BALANCE SHEET EVENTS There were no significant developments since the balance sheet which could have had a material effect on the state of Affairs of the Company as at 31st December,. 18

21 NOTES TO THE ACCOUNTS ' '000 '000 '000 '000 '000 '000 '000 '000 '000 Turnover 23,095,530 7,159,614 21,501,871 6,665,580 17,082,240 5,295,494 11,279,708 3,496,709 5,466,997 1,694,769 Profit Before Taxation Taxation Profit After Taxation Dividend Retained Earnings Current Year 2,664, ,975 2,339, ,385 2,511, ,554 1,406, , ,112 93,009 28,833 37,261 11, ,541 31,788 62,319 19,319 25,281 2,571,426 (90,790) 797,142 (28,145) 2,302,690 90, ,834 28,145 2,408, , ,766 84,434 1,344,011 40, ,643 12, ,831 18,985 2,480, ,997 2,211, ,979 2,136, ,200 1,303, , , ,115 7, ,278 5, ,163 Fixed Assets Non Current Assets Net Current Assets Total Assets Other Liabilities Term Loan 7,572,876 1,770,618 1,376,507 10,720,001 2,347, , ,717 3,323,200 6,228,189 1,393, ,929 8,262,743 1,930, , ,688 2,561,450 5,136, , ,275 6,273,776 1,592, , ,475 1,944,871 3,802, ,175 8,417 4,167,660 1,178, ,724 2,609 1,291,975 2,505,472 11, ,529 3,230,501 (50,496) (15,654) (50,496) (15,654) (50,496) (15,654) (50,496) (15,654) (50,496) (13,358) (343,769) (374,206) (740,861) 776,696 3, ,194 1,001,455 (15,654) Net Assets 10,669,505 3,307,547 8,198,889 2,545,797 5,879,511 1,929,217 3,742,958 1,276,321 2,439, ,802 Share Capital Revenue Reserve Shareholders Funds 907, , , , , , , , ,898 9,761,607 3,026,098 7,290,991 2,260,207 4,971,613 1,541,200 2,835, ,869 1,531,246 10,669,505 3,307,547 8,198,889 2,541,656 5,879,511 1,822,648 3,742,958 1,160,317 2,439,144 =========== ========= ========= ========= ========== ========= =========== ======== ========== 281, , ,135 ========= Earnings Per Share ( N) Dividend per Share ( N) Net Assets Per Share ( N)