Peace Mass Transit Limited has acquired 313,326,316 units of the Neoma Africa Fund L.L.C unsecured convertible loan stock registered at N4.75 each in C&I Leasing Plc.

This loan conversion will result in the issuance of 987,500,000 ordinary shares of C&I Leasing Plc to Peace Mass Transit Limited, which will represent 55.82% of C&I Leasing Plc’s issued shares.The loan conversion has been approved by C&I Leasing Plc’s shareholders at the company’s Extraordinary General Meeting held on 3rd November 2020, according to the statement released by the company.

The statement read “C&I Leasing Plc (“the Company”) hereby notifies The Nigerian Stock Exchange (The Exchange) and the investing public of the purchase of 313,326,316 units of the Neoma Africa Fund L.L.C. (formerly Aureos Africa Fund, L.L.C.) unsecured variable coupon redeemable convertible loan stock in registered units of N4.75 each or its US$ equivalent in C&I Leasing Plc by Peace Mass Transit Limited.

“The company was also notified that all requisite documents in connection with the transaction have been executed by parties. The loan stock, when fully converted, will result in the issuance of 987,500,000 (Nine Hundred and Eighty-Seven Million and Five Hundred Thousand) Ordinary Shares of the Company which will represent 55.82% of the issued shares of the Company.

The transaction will strengthen the capital base of The Company and improve clarity of the capital structure. This is highly beneficial to the company as the need for a possible redemption of the Notes, with the company’s cash resources, has been eliminated.

“It is against this background that the shareholders approved the Conversion of the Notes to ordinary shares at an Extraordinary General Meeting held on 3rd November 2020.

“The purchase and eventual conversion of the shares will strengthen The Company’s credentials as a leading Nigerian-owned service provider with operations in Nigeria, Ghana, and the United Arab Emirates. The Directors believe that this is a very positive development for the Company.”

At the close of trading on, C&I Leasing equity price closed flat at N5.70 per share. YTD it is up by 9.62%.

By: Ifunanya Ikueze

https://investogist.com/peace-mass-transit-limited-acquires-55-82-of-ci-leasing-plc-shares-via-convertible-loan-stock/

Who is Dr Samuel Maduka Onyishi?

Dr. Samuel Maduka Onyishi was born in Nsukka, Enugu State, in November 1963 and is considered a successful business mogul of the Enugu Northern extraction. owing to the loss of his father in his first year in secondary school, an incidence that forced him to assume the role of pseudo breadwinner to his family consisting of his widowed mother and siblings.[1] Dr. Sam Onyishi, as he is mostly called, attended the Enugu Road Primary School, Nsukka from 1971-1976 then was admitted into Bubendorf Grammar School, Adazi, in the present day Anambra State.[2] He contemplated tearing his certificate, since education seemed to mean nothing then given his reality. But an encounter with a kinsman who was 2 years below him in primary school a few years later would make him change his view about education, he returned to school later in life.[1] He got admission to do a Diploma Program at University of Nigeria, Nsukka, between 1993 – 1996 and later, a degree program from 1996 – 1999. He graduated with a Second Class Upper in Social works and Community development. He later got a Masters in Business Administration (MBA) in Entrepreneurship from the Institute for Transformative Thought and Learning in the Doctoral Research Centre of the University of Arizona, Phoenix, in the United States.

It was within the period of his university education that, in 1994, the Founder of Peace Group of companies, started his transportation business with 2 buses which has now grown to about 4,000 fleet of vehicles.[4]

In 2019 May & Baker Nigeria Plc has appointed Dr. Samuel Maduka Onyishi as its new Non-Executive Director. He was appointed during the company’s 2019 Annual General Meeting (AGM). Sequel to the appointment, he has also been recommended by May & Baker’s board for election as a Director of the company.

On 4 January 2020, Governor Ifeanyi Ugwuanyi laid the foundation for entrepreneurial university, Samuel Maduka University, Agu-Ekwegbe in Igbo Etiti Local Government Area of Enugu State founded by the Chief executive officer of Peace Mass Transit (PMT) Company, Dr. Samuel Onyishi.[5]

On 7th January, 2021, He took over Actis's share in C&I Leasing through his company Peace Mass Transit to own majority stock[6] worth about 55.82% of the company's shares

Peace Mass Transit Workshop Emene, houses an untra mordern maintenance workshop, lubricant plant, household and industrial chemical plant and an automobile assembling plant.

Samuel Maduka Entrepreneurial University under construction

@ lalasticlara, @domonique help me send it to headquarters. It is newsworthy

The Over 2000 drivers in the employ of Peace Mass Transit (PMT)have been receiving refresher training on safe driving at the Emene, Enugu Headquarters of the company.

The training, which has been ongoing since the onset of ‘Ember Months, takes the drivers through conventional safety drills and basic customer relations expectations. PMT safety and Customer Service Departments regularly oversee these rehearsals which are designed to keep drivers properly grounded on matters of safety and customer handling.

This time around, the exercise coincides with the launch of some additional 100 brand new Hiace Buses, to re-jig the PMT fleet. Safety Manager, Sunday Igwegbe, himself a retired State Traffic Officer (STO) has been impressing it on the drivers to make use of the opportunity of the refresher to update themselves with the rudiments of defensive and safe driving. “Sometimes, doing the same thing regularly can make you take things for granted”, he explained. ” This exercise is meant to test them afresh, remind of their obligations to our passengers and other road users, particularly this busy period when there are more vehicles on the highway, many driven by amateurs “. ” We keep doing this regularly because that is the only way to go”, Igwegbe pledged



Read more at: https://www.vanguardngr.com/2020/12/yuletide-peace-mass-drivers-get-refresher-training/

May & Baker Nigeria Plc gets a new Director

May & Baker Nigeria Plc has appointed Dr. Samuel Maduka Onyishi as its new Non-Executive Director.

Dr Onyishi, who was appointed during the company’s last Annual General Meeting (AGM), has also been recommended by May & Baker’s board for election as a Director of the company.

https://nairametrics.com/2019/03/27/dr-samuel-maduka-onyishi-joins-may-baker-nigeria/