CHAMS’ MANAGEMENT ASSURES EXCHANGE OF REGULAR INFORMATION

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CHAMS’ MANAGEMENT ASSURES EXCHANGE OF REGULAR INFORMATION
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Poised to uphold the sanctity of Post Listing Requirements, the management of Chams Plc at the weekend assured The Nigerian
Stock Exchange of regular provision of its corporate information for enhanced investment decision.
Besides, Chams, a leading identity management company had intimated The Exchange its preparedness to focus on innovations in the identity space to ensure sustainable shareholder value.
The newly appointed Group Managing Director of Chams Plc, Mr Gavin Young, who spoke during Chams’ courtesy visit to The Nigerian Stock Exchange’s Chief Executive Officer, Mr Oscar Onyema, explained that the company would place premium on investment in innovative solutions and software across the Commercial, Consumer and Government sectors of the economy to sustain its competitive edge.
Young, assured The Exchange that Chams would always take the issue of compliance with all the Post Listing Requirements seriously, saying he was looking forward to a strong relationship with The Exchange and would be happy to take input on the best ways of achieving a strong relationship. Speaking on the strategic move to upscale the company’s operations, he stated that
“ Our focus is to perfect and package these solutions so that we can realise value from our investments. As Chams is one of the foremost identity companies in Nigeria, we are also focussing on innovation in the identity space, and particularly verification, as there are now over 40 million NIN and BVN records to which we can link to provide such verification solutions.
“ Of course, we are also very involved in the NID enrolment space, via our own network, and through agent and business partnerships, and have a close working relationship with NIMC and Nigerian Inter Bank Settlement System (NIBSS)  Our subsidiaries are also making good progress and particularly in the Fintech payment space, and we will therefore continue to drive innovative fintech initiatives across the Group.”

Young who had worked with  Chams for over one decade in various capacities at both formal and informal level as well as the company’s subsidiaries, including investment companies, commended his predecessor, Engineer Femi Williams and his team for taking the company out of debt overhang within the last two years.

Engineer Williams who had worked for Chams for over two decades in various capacities outlined many milestones recorded by the company during his four-year tenure as the Group Managing Director, including declaration of dividend after three years of continuous loss making, 100 percent appreciation of the company’s share price on The Exchange, balance sheet restructuring, maintenance of business relationship with Osun State Government till date, creation of Project Arise in 2017 and payment of all loans among others.

Mr Onyema,  congratulated the company on its tradition of seamless transition and urged the management to take advantage of opportunities created by The Exchange for ease of communication between it and quoted companies. Onyema underscored the need for the company’s board to adhere to the principles of corporate governance.

The company’s outstanding performance last year has rekindled investors’ confidence in its shares on The Exchange. Shareholders had during its Annual General Meeting (AGM) recently in Lagos showered encomium on the board and management for declaring dividend after three consecutive years of loss making.  On the list to of Chams Plc’s team at the meeting were the company’s Executive Director, Mrs Mayowa Olaniyan, Company Secretary, Mrs Yetunde Emmauel, Head, Brand and Communications, Mr Tolani Bakare and Assistant to the GMD, Miss Doyin Suulola

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