NGX lauds Chams for market engagement, urges sustained transparency
Nigerian Exchange Limited (NGX) has commended the leadership of Chams Holding Plc (Chams HoldCo) for leveraging the Facts Behind the Figures (“FBF”) platform of the Exchange to engage the market on its performance and strategy, urging continued transparency.
The Divisional Head, Capital Markets, NGX, Mr Jude Chiemeka stated this at the FBF presentation of Chams HoldCo at the Exchange on Thursday, 14 September 2023 in Lagos. “We are delighted that Chams HoldCo has chosen to use this forum to communicate its financial performance, strategic and operational developments to the investment community,” he said.
“Given that accurate, accessible, and timely information is essential to stimulate market activity, your continued interaction with investors and the capital market ecosystem is important to ensure reasonable flow of relevant information to the market. We anticipate that today’s interaction will be fruitful, encourage transparency, price discovery, and positively impact the overall performance of your stocks,” Chiemeka added.
In its bid to increase shareholder value, Chams HoldCo, formerly Chams Plc, transitioned to the holding company structure. With its subsidiaries; Chams Switch, Chams Mobile, Chams Access, and Card Centre, Chams HoldCo has evolved from the computer and hardware maintenance company that listed on NGX in 2008 to providing enterprise technology solutions in the identity management and transaction payments space to public and private sector institutions.
On her part, the Group Managing Director, Chams HoldCo, Mrs Mayowa Olaniyan, whilst describing the firm’s half-year results as impressive and improved, said that the company plans to finish the financial year on a strong note with three digit year-on-year growth from expanded business activities and emerging opportunities within the group.
Olaniyan revealed on the company’s outlook that Chams HoldCo aims to consolidate on cost-optimisation measures within the group and cross-selling synergies to sustain its bottom-line performance. She said, “We are poised for innovation that will revolutionise the payment and technology industry with fast, secure and reliable platforms. We have plans to expand product lines through collaborations and partnerships.
“The company will seek support from stockbrokers, NGX and advisors in assessing additional capital in tranches via right issues. According to her, this was endorsed by shareholders last year and this capital will help to reposition the company to achieve its objectives.”
The Chairman, Chams HoldCo, Sir Demola Aladekomo noted that the company has pivoted from a Business to Government model to a more sustainable Direct-to-Consumer model. He also hinged on the company’s commitment to maximising shareholder value.