Shareholders of Rak Unity Petroleum given October 31st deadline to claim dividends.

In a bid to expedite its winding up process, the Liquidator of Rak Unity Petroleum Company Plc, have given shareholders of the company with unclaimed dividends until 31st of October, 2021 to claim their dividends or risk forfeiting it to the Companies Liquidation Account.

This is according to a notice signed by the Liquidator, Mrs Chinwe Chiwete and filed with the Nigerian Exchange Limited (NGX).

Corroborating this, the recent notice filed with the NGX reads: ‘’Notice is hereby given that pursuant to the Companies and Allied Matters Act 2020 and the Companies Winding-Up Rules (‘’Applicable Laws’’), the Liquidator is required before dissolution of the Company to pay all unclaimed dividends or undistributed assets of the Company in the hands or under the control of the Liquidator into public fund of the Federation kept by the Corporate Affairs Commission (‘the Commission’’) and known as Companies Liquidation Account.

‘’Accordingly, the details of concerned shareholders and investors have been uploaded in the company’s website The concerned shareholders and Investors are requested to follow the steps stated in the website and claim dividend on or before 31st of October, 2021 otherwise the Liquidator shall, with a view to complying with the Applicable Laws, take the necessary actions to transfer the unpaid/unclaimed dividend into the Companies Liquidation Account.’’

Individuals with further questions concerning the announcement or developments related to the information are urged to contact the Liquidator via email at: [email protected]

What you should know:

  • Recall that the shareholders of Rak Unity Petroleum Plc., during its Annual General Meeting held on 4th of June 2021 had authorized the company to commence the process of voluntarily winding up the Company. The authorization which is in line with Section 622 of the Companies and Allied Matters Act (CAMA) 2020 provided a legal basis for further action.
  • Consequently, in line with Section 624 of CAMA 2020, the Nigerian Exchange Limited (NGX) in August 2021 suspended trading in the shares of the company. This was necessary in order to enable the parties involved finalize the winding up process.



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