Chams Plc announces board meeting, closed period ahead of 9M 2021 results.

Chams Plc has notified its shareholders and the investing public of its imminent Board of Directors Meeting scheduled to hold on Tuesday, October 26, 2021.

This is according to a notice signed by the company’s secretary, Yetunde Emmanuel and filed with the Nigerian Exchange Limited (NGX).

According to the notice, the meeting was scheduled to consider among other things the unaudited financial statements of the company for the nine months period ending 30th of September, 2021. To facilitate this, the company declared that it will be observing a closed period from Friday, October 1, 2021 until 24 hours after the announcement of the outcome of the meeting and the unaudited financial statement for the period ended September 30, 2021 has been published to the Market.

During the closed period, all insiders of the company such as; directors, employees, advisers, consultants and any other person (s) with insider’s information and their connected persons are prohibited from transacting in the shares of the company.

To access the disclosure, click HERE.

Chams Plc reports a loss after tax of N69.1 million in Half Year 2021.

Chams Plc released its unaudited interim financial results for the six months period ended 30th of June, 2021.

  • Revenue for the period was N1.63 billion. (+79.1% YoY)
  • Cost of sales was N1.17 billion. (+156.4% YoY)
  • An operating profit of N6.77 million was recorded. (-90.8% YoY)
  • Administrative expenses totalled N497.98 million. (+25.9% YoY)
  • Loss after tax for the period was N69.1 million.
  • Loss per share of -1 kobo Vs -0.2 kobo YoY.
  • Total assets for the period stood at N8.49 billion.

See link to results.

Chams Plc completes balance sheet restructuring exercise.

Chams Plc, a leading integrated identity management, payments system and solutions provider, has announced the successful completion of its balance sheet restructuring exercise.

This is according to a notification issued by the company which reads: ‘’ This is to inform the Nigerian Exchange Limited (The Exchange) and the investing public that following the receipt of regulatory approvals, the Balance Sheet Restructuring exercise by Chams Plc which was approved by a special resolution at the Extra-Ordinary General Meeting of the Company held on April 24, 2018 has been completed.’’

In light of the above, the exercise was executed in the following manner;

  • The Balance Sheet Restructuring Account (“BSRA”) was created for the purpose of effecting all necessary accounting entries in line with statutory requirements
  • The sum of N5,458,750,000 as at October 31,2017 was transferred from the Share Premium as a credit to the BSRA
  • The negative balance of N5,458,750,000 as at 31st October 2017 was transferred from the Retained Earnings Account to the BSRA
  • The Solicitors to the Balance Sheet Restructuring sought an order or orders to the following effect from the court
  • An order of the Court confirming the above stated Balance Sheet Restructuring of Chams Plc was approved by Special resolution of its shareholders
  • All incidental, consequential and supplemental orders as are necessary to ensure that the Balance Sheet Restructuring were fully and effectively implemented
  • The Directors of the Company were authorized to take all actions that were within their powers and/or necessary to effect the Balance Sheet Restructuring.

What you should know:

  • A balance sheet restructuring refers to the sort of multiparty agreement that takes place when equity and debt holders of a firm agree to concessions that will make the balance sheet stronger.
  • It is pertinent to note that the decision to restructure the balance sheet of Chams Plc was taken at the Extraordinary General Meeting of the shareholders which held on 24th of April, 2018 at ACE-Olivia Hall, City Mall, Onikan-Lagos.


CHAMS Plc set to hold 37th Annual General Meeting (AGM) on June 22.

The Board of CHAMS PLC has announced that it will be hosting its 37th Annual General Meeting on the 22nd of June, 2021.

This is according to a notification signed by the company’s secretary, Yetunde Emmanuel and seen by Nairametrics. Sequel to this, the following issues will be discussed;

  • The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
  • The firm’s proposed dividend will be considered and officially declared.
  • Board appointments will also be considered and ratified.
  • To fix remuneration of managers and Directors in FY 2021.
  • To elect shareholders’ representatives of the statutory audit committee.

What you should know:

  • CHAMS PLC had earlier reported a loss after tax of N944.9 million in FY 2020.
  • In line with CAC guidelines, attendance at the AGM will be by proxy. Sequel to this, a list comprising of eight (8) representatives authorized to represent shareholders, have been made available.
  • The link for the Annual General Meeting will be made available on the company’s website:

For more information about the AGM, click HERE.

Chams Plc announces the appointment of Patricia Duru as new CFO

The Board of Directors of Chams Plc has announced the appointment of Mrs Patricia Duru as the new Group Chief Financial Officer of the company effective from 1st of April, 2021.

This is according to a disclosure signed by the company’s secretary, Yetunde Emmanuel and sent to the Nigerian Exchange Group Plc (NGX Group).

As part of her responsibilities, Patricia will support the Board in driving the Group’s strategic vision and harnessing greater wealth building opportunities for shareholders.


Patricia is a financial management and business leader with over 12 years of experience in driving business growth.  Prior to joining Chams Plc, she served as the Chief Financial Officer of Interconnect Clearinghouse Nigeria Limited where she played a prominent role in the financial growth of the business.

Patricia is an alumna of the University of Uyo and University of Benin where she obtained a Bachelor’s degree in Accounting and an MBA in Finance respectively. She is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), an Associate of the Chartered Global Management Accountants and Chartered Management Accountants (UK), amongst others.

What you should know:

  • Chams Plc provides enterprise technology solutions for identity management and transactions payments to the public and private sectors in Nigeria.

See link to the recent announcement.

2020 FY Results: Chams Plc reports a loss after tax of N944.9 million

Chams Plc released its full-year audited results for the year ended 31st December 2020.

  • Revenue for the year was N2.11 billion. (-35.7% YoY)
  • Cost of sales was N1.35 billion. (-40.6% YoY)
  • Administrative expenses totaled N1.58 billion. (+25.7% YoY)
  • A loss after tax of N944.9 million was recorded.
  • Loss per share of 17 kobo.
  • No dividend announcement was made.

See link to results.