WHAT IS A SHARE?

A share is part ownership in the company. As a shareholder, you are one of the owners of the company and the number of shares you hold is a measure of how much of the company you own
Shareholders, also called 'members', can vote on major decisions of the company such as those taken at the Annual General Meeting (AGM).

HOW DO I SELL MY SHARES?

You can sell your shares through a stockbroker. The rates of commission charged are determined by the Regulatory Bodies SEC and the NSE.

WHAT SHOULD I DO IF I NEED TO CHANGE MY ADDRESS?

You should notify Lighthouse registrars in writing of both your old and new address and, if possible your share account number, with your signature duly signed alternatively you can download a change of address form from our website: http://www.lighthouseregistrars.net/

CAN I HAVE MY DIVIDEND PAID DIRECTLY INTO MY BANK ACCOUNT?

Yes, you should either contact Lighthouse Registrars or complete a mandate form obtainable from the Registrar’s office or through download from our website http://www.lighthouseregistrars.net

HOW CAN I FIND OUT HOW MANY SHARES I HOLD

You can determine the number of shares you hold by adding up all your share certificates and holdings in CSCS, referring to your recent dividend warrant, or by contacting Lighthouse Registrars via letter or personal visit.

WHAT IS A DIVIDEND?

A company that is making a profit often keeps a portion of its earnings to reinvest in the future of its business. The remaining profits will normally be given back to the owners of the company, its shareholders, as a dividend payment.
The dividend is often paid in two or more installments over the year. The initial payments are called 'interim dividends' and the remainder, paid as a 'final' dividend, is approved by the shareholders at the Annual General Meeting.

WHAT IS MEANT BY 'EX DIVIDEND' AND 'CUM DIVIDEND'?

Prior to announcing year-end results of companies, dates are set out for the Closure of Register of members for the purpose of payment of dividend and issue of scrip popularly known as 'Bonus'. These dates will determine the qualification for dividends and scrips.

Hence, "cum div" or "cum scrip" means purchases before the Closure of Register will be entitled to all the benefits payable on the investment while "ex div" or "ex scrip"means purchases made after the entitlements were declared.

Conversely, if you sell your shares before the Closure of Register, you sold so to say "cum div" and "cum scrip" and hence you will not enjoy the dividend or scrip to be issued at the coming AGM. The reverse is the case when you sell your share "Ex Div" and Ex Scrip".

WHAT IS A WITHHOLDING TAX ON A DIVIDEND?

A dividend is normally paid net of a portion of tax, referred to as a ‘withholding tax', which is then used by the company to pay the Corporation Tax that is charged on its profits. The portion of tax credit is currently fixed at one tenth of the gross dividend.

I HAVE NOT RECEIVED MY DIVIDEND. WHAT SHOULD I DO?

Please contact the Registrar immediately either in writing or in person for issuance of indemnity form or retrieval of warrants from the store where same has been returned unclaimed by the NIPOSST.

WHAT HAPPENS IF I LOSE MY DIVIDEND WARRANT?

If you lose your dividend warrant you should contact Lighthouse Registrars as soon as possible, confirming where payment has been lost. We will arrange for the warrant to be stopped and issue you with a duplicate free of charge. However, upon recovery you are expected to return the original to the Registrar.

MY DIVIDEND WARRANT IS OUT OF DATE AND IS NOW INVALID. WHAT SHOULD I DO?

Please contact the Registrar to have it revalidated. Please note that dividend warrants are valid for six months from the date of issue.

I RECEIVE MULTIPLE SETS OF ANNUAL REPORTS/ACCOUNTS. WHY IS THIS AND WHAT SHOULD I DO?

If shares are bought at different times, the registration details given to the Registrar may differ slightly on each occasion. This can result in the Registrar opening additional shareholder accounts for you. If the names are the same, Please write to the Registrar requesting us to consolidate or merge your shareholder accounts. Note to indicate the various account numbers and your signature must be duly signed.

WHAT ARE THE KEY RIGHTS OF A SHAREHOLDER?

Shareholders have the right to receive dividends (if payable), to receive key company information (such as Annual Reports /Accounts), to attend Annual General Meetings or Extra-ordinary General Meetings and to Vote and be voted for on certain affairs of the company.

WHAT ARE SHARE CERTIFICATES?

These are evidence of your ownership of the shares and represent your interest in the company. However, with the development of electronic means of trading shares, most investors no longer use share certificates and rely instead on a secured systems of exchanging data with the registrar and the Nigerian stock exchange through the CSCS. (CSCS Investors Account Details) This means that you can deal much faster because there is no need to supply certificates as evidence of ownership, and for signature verification by the registrars.

I HAVE SEVERAL SHARE CERTIFICATES OF A PARTICULAR COMPANY. CAN I MAKE THEM ONE?

Yes. You need to send the share certificates to the Registrar with a covering letter explaining your request. The Registrar will then issue you with a single share certificate representing the total number of shares you own.

WHAT SHOULD I DO IN CASE OF A DECEASED SHAREHOLDER?

The administrators to the estate should visit the Registrar 's office with the following:
 Letters of Administration or Probate (where the shareholder died intestate or a certified true copy of Will made before death). Original for sighting bearing passport photograph of the administrators and duly endorsed by the bank
 Bankers confirmation of signature of the administrators (Estate Account)
 Death certificate
 Gazette
 Original share certificates for endorsement

I HAVE NOT RECEIVED MY CERTIFICATE, WHAT SHOULD I DO?
Please contact the Registrar in writing. Perhaps the share certificate has been returned unclaimed.

CAN I SELL SHARES THAT ARE IN MY CHILDREN'S NAMES?
Legally, a child under 18 years of age may not have shares registered in their own name. Usually, if shares are purchased on behalf of a child, they are registered in the name of a guardian who is free to deal on the shares on behalf of the child.

WHAT SHOULD I DO IF I HAVE CHANGED MY NAME?
Provide the Registrar with the following documents:
Photocopy of marriage Certificate and original for sighting
Original sworn affidavit in case of change of family name
Original Bankers confirmation of signature bearing passport photograph of shareholder and duly endorsed by the bank(where    necessary to change signature)
Newspaper publication.

WHAT SHOULD I DO IF I WISH TO TRANSFER MY SHARES TO SOMEONE ELSE?
Please contact your stockbroker.

WHAT SHOULD I DO IF I CANNOT LOCATE MY SHARE CERTIFICATES?
If a share certificate is lost, stolen or destroyed, notify the registrar immediately so that a 'caution' can be placed in our records to prevent transfer of ownership to another person. In order to replace your certificate(s),
You need to execute an indemnity form at your expense to protect all parties against the possibility that the lost certificate might    return to circulation. You will also need to arrange for a further guarantee by a clearing bank or a recognized insurance company.
Also you are expected to obtain a sworn affidavit showing loss of the certificate.

Contact us
If you have a query on owning shares, try our extensive frequently asked questions first - you may be able to find the answer straightaway.
If not, please contact us for help.

Please send the details to:
Lighthouse Registrars Limited
3rd Floor, Kingsway Building,
2/4 Davies Street,
Lagos.