1.

0 INTRODUCTION

1.10 Instruction:

We refer to your instruction requesting us to carry out survey and valuation of the
above named stock asset; we are pleased to inform you that we are have
executed the assignment and hereby wish to report as follows:

1.20 Purpose of Valuation

The valuation exercise is undertaken with the aim of providing professional

opinion on the Fair Market value of the subject stock asset.

1.30 Date of Inspection and Sources of Information

The subject property asset, furthers details of which could be gleaned in the
report under the heading “Stock Asset Particulars” was dully surveyed and
inspected on the 2nd August, 2022. Information gathered from the market, the
client and our professional consultants together with our office property data
bank from the sources of information herein contained.

1.40 Scope of Valuation

The valuation exercise covers the stock of patent drugs only.

1.50 Basis of Valuation

Basis of value in valuation of any asset class describe the fundamental premise
on which the reported value or values will be based, international valuation
standards (IVS 104) requires that the basis of value must be appropriate to terms
and purpose of the valuation assignment as this is critical to the methods, inputs,
assumptions and ultimately the opinion of value to be prescribed by the Valuer.
In accordance with the purpose or valuation of this assignment, our adopted
basis of value is the Market Value Concept.

The definition of Market Value (MV) is as defined by International Valuation

Standards (IVS 3.2) is the estimated amount for which an asset or liability buyer
and a willing seller in an arm’s length transaction, after proper marketing and
 where the parties and each acted knowledgably, prudently and without
compulsion.

1.60 Assumptions and Limiting Conditions

In addition to assumptions made elsewhere in this report, the following specific

assumptions and limiting conditions have made:

(i) That all the information with which we have been supplied is correct.
(ii) That no scientific test on or of materials were carried out on the stock asset
and that other descriptions are based on visual inspection and trained
judgment which are deemed accurate for our use in this report.
(iii) That the stock asset belongs to ……………………………………
(iv) That the stock asset is free from all onerous restrictions and charges
(v) That the effect of taxation on the stock asset has been ignored.
(vi) That a fair market exists for the class of stock asset under valuation.
(vii) That the report is static and refers to the date of valuation only.

2.10 Location

The subject stock asset is located at No………………….Area World Bank

Housing Estate Owerri, Imo State. Access to the property wherein the stock
asset is situated could be gained through the popular dual carriage road loading
to World Bank Housing estate, when approached from Dreamland Hotel
roundabout right flank is the subject stock asset.

Notable landmarks within the neigbourhood of the subject property includes;

Dreamland Hotels, Clarate Catholic Church, Ideal Suite Hotel. Access road to the
subject property is tarred and motorable and the location coordinates are
…………………and ………………….

2.11 Observation

Our inspection however reveals that:

(i) All items are good quality products of both foreign and indigenous
pharmaceutical companies
 (ii) All the items are in good marketable condition

3.0 Method of Valuation for the Stock Asset

The adopted method of valuation is the Direct Market Comparison. This entails
the assessment of the value of the stock with recourse to analysis of the current
sale prices of fairly similar stock assets in the neigbourhood after necessary
adjustment on the subject stock asset.

4.0 Opinion of Value

Based on information available to us and the assumptions herein specified, we

conclude and state as follows. That the Fair market value of the subject stock
asset rebus-sic-stantibus on the 2nd day of August, 2022 in our opinion is
N………….only.