DN TYRE & RUBBER PLC
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DN TYRE & RUBBER PLC SUBSIDIARY
Pamol (Nigeria) Limited

Pamol (Nigeria) Limited (“Pamol”) is a private limited liability Company with its Headquarters situated at Calabar. The Company which has Rubber Plantations in Cross River, Delta and Edo States increased its plantation size to 15,738 hectares when it acquired Rubber Estates of 9,787 hectares that belonged to the Government of Cross River State in Ikot Okpora and Nko/Agoi Ibami, under the Government’s privatization program. .

Pamol, established in 1903, was a wholly owned subsidiary of Unilever Plc until promulgation of the Nigerian Enterprises Promotion Act of 1977 which required Nigerians to have at least 40% equity participation in Companies in the Country. Under this Act, Unilever’s 100% holding was whittled down to 60% while Cross River State Government took-up 21% of the shares, Bendel State Government (now Delta and Edo States) held 15% and Employees of the Company held 4%..

On 1st March 1997, Dunlop Nigeria Plc (“Dunlop”) (now DN Tyre & Rubber Plc) acquired Unilever’s 60% equity interest in the Company and after the creation of Edo and Delta States from the former Bendel State, the 15% interest in the Pamol held by Bendel was ceded to Delta State Government. Pamol currently has an authorised Share Capital of 600million Ordinary shares of 50kobo each, out of which 570 Million Shares, have been issued and fully paid.

DN TYRE & RUBBER PLC Group Office
EXTERNAL COMMUNICATIONS DEPT.
JUNE 201 5

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