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Odua to Dilute Equity in Subsidiaries Odu'a Investment Company Limited (OICL) will soon embark on a dilution exercise of her investments in subsidiary companies, while carrying out a systematic restructuring of their operations to ensure an accelerated improvement in her fortunes. In the same vein,the newly appointed Chairman of the Board of OICL, Chief (Mrs) Iyabode Apampa, disclosed this in her welcome address, at her maiden meeting with the chairmen and Managing Directors of the company's subsidiaries, on Thursday, September 23, this year, at the Lagos Airport Hotel, Ikeja, Lagos. Chief (Mrs) Apampa said that Odu'a had reached a stage at which private investors must be allowed to invest in its businesses to reposition it for better performance. She stated: "In our considered opinion, equity dilution to be preceded by a well thought out restructuring exercise is the strategy that we are adopting to achieve quantum leap growth in our investments. Odu'a has reached a point at which fresh funds from private investors must be injected into her business to enable us revive ailing subsidiaries and reposition the healthy few". In a consensus opinion, the chairmen and Managing Directors of Odu'a subsidiaries expressed their total support to the proposed dilution and restructuring exercise, while pledging their loyalty and commitment to the Odu'a board. They said,the proposed reforms would enable the group meet the expectations of her shareholders and gain the confidence of foreign technical partners and investors. Also at the meeting were other members of the Board of Directors of OICL, namely, Chief K. O. Latunji, Chief Pius Akinyelure, Rt. Hon. Clement Akinyemi and Prince Solagbade Araoye, the company's acting Group Managing Director, Mr Jide Ikumoluyi, the company Secretary and Head of the Legal Department, Mr. Abayomi Olanipekun and the Senior Manager, Corporate Affairs, Oloye 'Lekan Alabi. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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