Article Summary
- Notice has been given to all shareholders of Rak Unity Petroleum Company Plc that the Registrars of the Company has commenced the distribution of final payments to shareholders.
- The Company has uploaded a list of shareholders to claim their payments on its website.
- At the annual general meeting of RAK Unity, Petroleum Company Plc held on 4 June 2021, shareholders resolved to put the Company into members’ voluntary winding up.
Rak Unity Petroleum Company Plc has notified all its shareholders that the Registrars of the Company (First Registrars and Investor Services Limited) has commenced the distribution of final payments to shareholders.
This was contained in the company’s notice to the Nigerian Exchange Limited, obtained by Nairametrics.
The authorization for the folding up of the company was given by the company’s shareholders at its 18th Annual General Meeting (AGM) held on Friday, June 4, 2021, at the Shell Hall, Muson Centre, Onikan, Lagos.
A notice from the energy firm said that the shareholders were unanimous in approving the proposal put forward by the board of the company at the gathering.
It was also agreed at the meeting that Mrs Chinwe Chiwete of the law firm EPIC Legal, which is in Lekki Phase 1, Lagos, be appointed as a liquidator to wind up the company.
According to the statement signed by the liquidator, the Company has uploaded a list of shareholders to claim their payments on its website.
- “The concerned shareholders are requested to download the Registrars’ E Dividend Form from their website www.firstregistrarsnigeria.com and complete their bank mandate details.
- Thereafter submit the same to the Registrar s address or via email on or before May 30, 2023. This serves as a final call to all shareholders.
- Note that distributions not claimed on or before May 30, 2023, will be paid into the public fund of the Federation kept by the Corporate Affairs Commission and known as the Companies Liquidation Account.
- Any person who requires further information may contact the Liquidator,” the statement noted.
What you should know
The company has notified that following section 631 of the Companies and Allied Matters Act 2020 (Act), the Final Meeting of the members of RAK Unity Petroleum Company Plc will be held at The Muson Center Lagos, on Friday, 2nd June 2023 to lay before the meeting an Account of the Liquidator’s acts and dealings and the conduct of the Winding-Up to closure.
The Company was incorporated on 20 December 1982, as RAK Unity Nigeria Company Limited under the Companies Act 1968, and was converted to a public company on 16 November 1987, and the name changed to RAK Unity Petroleum Company Plc.
The Company was incorporated to, among others, carry on the business of sale, distribution, and transportation of petroleum products, liquid, and gaseous hydrocarbons.
In summary, the principal activity of the Company before the commencement of liquidation was the sale and distribution of petroleum products.
At the annual general meeting of RAK Unity, Petroleum Company Plc held on 4 June 2021, shareholders resolved to put the Company into members’ voluntary winding up, leading to the appointment of Chinwe Chiwete (Liquidator) of EPIC Legal as the liquidator of the Company.
Before liquidation, the Company had disposed of its physical assets to Asharami Synergy Limited at a total cost of N59,541,562, and the said amount was factored into payment due from Asharami Synergy Limited.