Arrangement has reached an advanced stage for Geo Fluids Plc to list its shares on the Nigerian Stock Exchange (NGSE).

    The Managing Director/CEO, Geo-Fluids Plc, Mr. Ala Ibanibo, in an interview with Vanguard, said, "The Company is set to list its 100 million units of shares at the Nigerian Stock Exchange (NGSE) at a price of N5.00 per unit as approved by the regulatory authorities"

    According to him, "The price of the shares for listing is to the advantage of shareholders because the company has great potentials. We are going to pay dividend to the shareholders for the current financial year because the third quarter result is very promising. We will soon release our result and we also hope that the last quarter of the year will be favourable as well."

    On why it has taken long for the company to list on the Exchange after its private placement exercise, he said, "The delay in listing the company was exigent upon factors beyond our internal control e g. the global economic meltdown which affected literally all economies and businesses worldwide.

    Some of these companies are yet to recover from the downward spiral. This is in addition to the escalation of violence in the Niger Delta which resulted in compression of exploration activities by the oil companies which are our primary market. Thus year 2008-2011 had been challenging but we are in a speedy and appreciable recovery."

    When asked what is the motivating factor behind the company getting to list on the Nigerian Stock Nigerian at this time, he said, "We do accept that in year 2008 there was virtual collapse of the capital market worldwide and we in Nigeria were not insulated from the freefall. Nevertheless, we know the attributes and prospects of the capital market as a dependable vehicle for wealth creation in the long-term. Consequently, we believe that given the right regulatory and institutional frame work, the capital market will continue to be a very important catalyst for wealth preservation and that is why we are listing now regardless of the temporary challenges."

    On whether the company is prepared to open its books to every investor when listed on the Nigerian Stock Exchange and what moves it is making to ensure that its shares are not subjected to insider-dealings, Ibinabo, said, "We are open and transparent for examination by not only shareholders but also regulators and indeed all stakeholders at all times.

    It is my personal belief that given our experiences of the past three years as far as insider-dealing is concerned, shares laundering, manipulations, etc will have little effect, if any at all in determining the value delivery based upon the fact that investors are more discerning as well as cautious in taking investment decisions today even in companies with the strongest fundamentals."



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