Page 20 - Learn Africa 2021 Annual Report

Learn Africa Plc
Directors’ Report (cont’d)
For the year ended 31 March 2021

Dividend
The Directors in submitting to the shareholders the financial statements for the year ended 31 March
2021, are pleased to recommend the payment of a dividend of 15 kobo per ordinary share of 50 kobo
each for the year ended 31 March 2021, which amounts to $115.7M, subject to the approval of the
members at the Annual General Meeting. If approved, the dividend is payable less withholding tax to
all members whose names appear in the Company’s Register of Members at the close of business on
Friday, 8 October 2021.

Shareholding and substantial shareholders
The issued and fully paid-up share capital of the Company is 771,450,000 ordinary shares of 50 kobo
each. The Register of Members shows that as at 31 March 2021, only one person, Chief Emeke
Iwerebon held more than 12% of the Company’s shares; one person, Ade-Ajayi Jacob Festus (Prof)
held 5.50% of the Company’s shares while fifteen (15) members held between 1% and 5%. Other
shareholders held less than 1% respectively.

Shares of 50k each

2021 % 2020 %
Major shareholders No. of shares No. of shares

The following shareholders held more
than 5% of the issued share capital as
at 31 March 2021:

Iwerebon Emeke Felix (Chief) 97,168,444 12.59 92,664,131 12.01
Ade-Ajayi Jacob Festus (Prof) 42,429,847 5.50 42,429,847 5.50

Stated below is the Company’s shareholding structure as at the year ended 31 March 2021:

Structure description Number of holders Holdings % holdings

Corporate 226 114,866,030 14.89
Foreign 14 310,971 0.04

Individual 8,089 656,272,999 85.07

8,329 771,450,000 100.0

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