The company was incorporated on 24 November, 1997 with an authorised share capital of N15, 000,000 in shares of N1.00 each and increased to the statutory requirement of N20 million in 1998, it was increased in 2001 to 100,000,000 shares of N1.00 each with N70 million paid up capital. This was further increased to N250,000,000 in 2006 and recently increased to N500,000,000. So as to accommodate the current private placement, the company is currently in the process of increasing the authorised share capital to N1,000,000,000 divided into 1 billion ordinary shares of N1 each.
The company will carryout a share split in the nearest future to a nominal value of 50k each as the Board may deem fit. The ultimate aim is to become a publicly quoted company and be listed on the floor of the Nigerian Stock Exchange where shareholders can trade on their shares.
The company is licensed by Nigerian Stock Exchange & Securities and Exchange Commission.