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 of its preparedness to focus on innovations in the identity space to ensure sustainable shareholder value.
Gavin Young, the newly appointed Group Managing Director of Chams Plc who spoke during Chams’ courtesy visit to the Nigerian Stock Exchange’s Chief Executive Officer, 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 make 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 realize value from our investments. As Chams is one of the foremost identity companies in Nigeria, we are also focusing on innovation in the identity space, and particularly verification, as there are now over 40million National Identity Numbers (NIN) and BVN records to which we can link to provide such verification solutions.
“Of course, we are also very involved in the National Identity (NID) enrolment space, via our own network, and through agent and business partnerships and have a close working relationship with the National Identity Commission (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,” he further said.
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, Femi Williams and his team for taking the company out of debt overhang within the last two years.
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. The NSE CEO 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.