Persianas Development Company Limited

A Unique Investment Opportunity

Presentation Outline
 Executive Summary  Introduction and Background  Country Overview  Nigeria – Economic Snapshot  The Investment Opportunity  Value Proposition  The Sponsor  Conclusion

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Executive Summary

© Chapel Hill 2008. All Rights Reserved. Strictly

Executive Summary
 Economic reform and increasing foreign direct investment across West Africa is yielding positive results and has led to a real estate boom across the region.  Economic growth, the improving investment environment and a growing middle class across West Africa has made expansion into the region exciting and rewarding.  There exists a significant gap between supply and demand in the real estate market and there is an opportunity to take advantage of under-valued and under-managed assets.  Tayo Amusan (“TA”) is a leading Nigerian property developer with a portfolio including the Palms Mall, the largest shopping mall in West Africa, luxury residential developments and a land bank in Nigeria.  TA has formed Persianas Development Company Limited (“PDC”) with the objective of becoming the leading property development and investment company in West Africa.  In order for PDC to attain this leadership position, it needs to broaden its portfolio of developments and also explore real estate opportunities across the region.  PDC believes it can create tremendous value capitalizing on this opportunity by developing a predominantly Nigerian but region wide coverage through expansion across West Africa.  Chapel Hill Advisory Partners, a leading Nigerian investment bank, is working with PDC and its bankers, First City Monument Bank Plc (“FCMB”) to achieve its expansion objectives.

© Chapel Hill 2008. All Rights Reserved. Strictly

Introduction and Background

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 While there have been significant investments in real estate. through IPOs. commercial. residential. Strictly .  Attractive yields with landlords typically collecting rents 2-5 years upfront. Persianas Development Company aims to position itself to take © Chapel Hill 2008. there is still a significant shortfall occasioned by the improved macro-economic environment and rapid GDP growth driven by commodity prices.  It is anticipated that the supply/demand gap across all real estate classes from retail. the demand for real estate is far in excess of the supply in West the Nigerian market. strategic or trade sales and REITs.  Liquidity across the region’s capital markets has improved providing solid investment exit opportunities. hospitality and industrial will persist for the foreseeable future. secondary offerings. denominated in US dollars and vacancies for prime properties are typically less than 1%.  The rapid recapitalization of the region’s financial institutions especially in Nigeria has led to improved access to local and foreign currency debt capital. All Rights Reserved. 6  Accordingly.Introduction and Background  With an estimated population of 250 million.

Strictly . All Rights Reserved.Country Overview 7 © Chapel Hill 2008.

 The region has witnessed an upsurge in foreign investments and is growing steadily due to increased political stability.  Nigeria is the largest economy in West Africa. robust output growth and general confidence in the region. real estate and other non-oil sectors.Country Overview  The West African Region comprises of 16 countries with a total population of circa 250 million with over 140 million people in Nigeria. with GDP estimated at US$165 billion and per capita income of US$1.  Although historically growth was driven by oil and gas. albeit relatively slowly. partly supported by high energy prices and the diversifying economy. Strictly .  Nigeria is the twelfth largest oil producing country in the world and has the third largest natural gas reserves in the world. Sound economic management has created strong and stable growth. partly supported by high oil price Population is benefiting with higher disposable income Democracy has become entrenched and civil society strengthened 8 © Chapel Hill 2008. contributing over 70% of the total GDP of the region.180.  Increased confidence in Nigeria and its business environment evidenced by significant investment by local and foreign investors and sovereign risk ratings by Fitch and S&P.  Sound economic management has created strong and stable growth. All Rights Reserved. in recent years it has become increasingly more diversified with strong growth in agriculture.

Strictly 08 .8 R eal estate & bu sin ess services 10.1 Ban k in g & F in an cial Services GDP growth rate(%) Inflation (%) Official Exchange Rate (=N=/$) Oil Price ($pb) (Average) Total External Reserves ($Bn) Total External Debt ($Bn) Population (million) 34. Chapel Hill Research 9 © Chapel Hill 2 0 .2% Source: Agusto report.3 Bu ild in g & con stru ctio n 11.Nigeria – Economic Snapshot GDP (US$Bn) 165 Sector growth rates far exceeding GDP growth GDP per capita (US$) 1.4 W h olesale an d retail trad e 12.5 140 Real GDP growth 6. All Rights Reserved.2 7 116 90 52 3.180 6.6 T ra n sp ort & com m u n ication s 13.

5 4.2 4. Global Insight 10 © Chapel Hill 2008.5 6.5 6.4 7.4 2004 2005 2006 2007 2008F 2009F Source: IMF. EMC. All Rights Reserved.3 Non-oil sector 8.0 6. Strictly 10 .6 7.6% 9) = 403 onsumption is a key growth driver in Nigeria     Consumption estimated to grow at least 5% yearly in real terms Population of 140 million growing at an estimated 3% Unemployment on a downward trend Incidence of poverty declining (06–0 CAGR 375 318 204 224 253 201 2003 2004 2005E 2006 2007 2008F 2009F Real GDP growth stimulated by growth in non-oil sector O il sector 8.0 9.3 3.6 3.Growth in the Nigerian Economy is increasingly being driven by the non-oil sector Non-oil GDP / capita (USD) 16.

Wealth is geographically concentrated in selected regions Geographic wealth distribution NW NC Kano NE SW US$41 3 9% FCT Abuja US$58 1 8% SE Us$59 4 9% US$77 US$1.5 14 26% Port Harcourt Per Capita Income Internally Generated Revenue 11 © Chapel Hill 2008.99 US$68 8 0 0 5% 6% 2% Lagos US$1. Strictly . All Rights Reserved.7 15 34% SS US$1.

All Rights Reserved. Strictly Forecast 12 Real GDP growth rate Inflation . oil sector accounts for 39% of GDP © Chapel Hill 2008.Robust growth and stable inflation GDP growth % Economic growth 12 ₦/US$ Inflation % 160 140 120 100 80 Naira/US dollar exchange rate Forecast & inflation 80 70 60 50 40 30 20 10 8 6 4 2 0 60 40 20 0 10 0 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 25 20 15 10 5 0 -5 -10 2001 2002 2003 2004 2005 15% GDP growth Oil 14% Total 41% Non-oil 2% 4% 24%* Agriculture Non-oil industry Wholesale & retail trade Oil Building & construction Services * In current prices.

All Rights Reserved.0 0 0 800 600 400 200 0 19 98 20 02 20 06 20 08 20 10 19 96 20 00 20 04 GDP per capita Mobile phone subscribers 48000 44000 40000 36000 32000 28000 24000 20000 16000 12000 8000 4000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 US$ 13 © Chapel Hill 2008.Increasing personal income Forecast 1 . Strictly .

248 66. 48. Strictly .525 11 89 1.Rapid growth in middle income population Population (‘000) 2004 2010F HNIs HIPs Traders MIPs LIPs 5 53 800 403 2.000 Survivors 9.330 770 4. 13.761 15.000 6.728.827 147.547 Working pop.276 21. All Rights Reserved.000 47 Traders 2.000 Affluent Mass Affluent 2010: 5.500 20 MIPs (Middle Income Professionals) 800 6 LIPs (Low Income Professionals) <100 <1 Survivors Bankable pop. income ₦’000 US$’000 275 HNIs (High Net Worth Individuals)35. Total pop.897 Wealthy 2004: 3.300 Mass Market Av.897.000 14 © Chapel Hill 2008.000 128.000 63 HIPs (High Income Professionals) 8.

Strictly . All Rights Reserved.The Opportunity 15 © Chapel Hill 2008.

nonexistence of mortgage facilities are all issues that affect the real estate sector in Nigeria and across West Africa. tourism and an emerging middle class. 16 © Chapel Hill 2008.  Real estate in Nigeria is thriving with shortage of residential and commercial developments in major cities.  The demand for retail and commercial property across the region has increased tremendously as a result of an upsurge in investment and commercial activities. high cost of building materials.  The region is estimated to grow at 5-8% over the next 10 years and various governments are implementing initiatives to develop an active mortgage market to aid the real estate industry.05%  Average 35% annual rental rate increase for premium properties Rents for prime office space in Lagos have increased by more 750% since 2003 . government policy regarding ownership of land.  A dearth of accommodation. transfer costs.  Real estate is very capital intensive and the nonexistence of financing options within West Africa has hindered development in the region. All Rights Reserved. and represents nearly 70% of the national capital base.Real estate  The Nigerian real estate sector accounts for 4-5% of the country's total gross domestic product (GDP). high cost of land. Strictly Huge imbalance between supply and demand for real estate  upfront rent typically 25 years  Minimal vacancy loss on premium properties.

Positive factors reflected in the Lagos real estate market  Lagos is the most populous city in all of Africa with an estimated population of 16 million growing at 4. Demograph ics  The city is also the commercial capital of Nigeria. with the largest concentration of economic activity (70%) and industries.  Rents in Victoria Island.45% pa. multinationals and corporate organizations have their headquarters in Lagos  Several of the oil majors have shifted portions of their operations from the turbulent Niger Delta to the relative safety of Lagos  There is a large and in Lagos continues to drive  Population growth growing middle/working class. All Rights Reserved.  Majority of Nigeria’s largest financial institution. generally have risen significantly more than inflation historically  Scarcity of prime land has created huge pressures on commercial and residential accommodation Strong market fundamental s 17 © Chapel Hill 2008. and increasing and commercial re-location. Ikoyi and Lekki. Strictly . residential activity from inward investment and financial institutions.

both in size and population has outstripped the development of infrastructure facilities. Strictly . Scarcity of prime land. As a result. Rents are usually paid in cash two to five years in advance. there has been continuing appreciation in the prices of properties in the city over the years. All Rights Reserved. and a lack of greenfield land with major road infrastructure. The rapid expansion of metropolitan Lagos. and the supply-demand imbalance has created huge pressures on commercial and residential accommodation.Positive factors reflected in the Lagos real estate market  Lan d Lagos is characterized by an acute lack of premium land with clean title.    Suppliers Market  18 © Chapel Hill 2008. is a limited number of high quality There buildings and options for multi national organizations.

Pfizer. IBTC. China Shell.J. of Floors Floor Size (sqm) Rent ($/sqm) Service Charge ($/sqm) Vacancy South Atlantic Towers Victoria Island 7Adeola Odeku 20 05 1 3 18 10 50 5 20 0 Ark Towers Victoria Island 1 Ligali 7 Ayorinde 20 01 1 2 40 6 30 8 15 2 Churchgate Towers Victoria Island Plot 30 Afribank Street 19 99 1 0 10 00 35 7 10 5 Africa Re House Octagon Towers Victoria Island 1 7 Karimu 69 Kotun 19 99 1 3 90 0 Victoria Island 1 a A. Chartered. Nexen Yes MTN. Standard National Oil Cpy. Exxon Mobil. Petrobras. Netcom. Includes Helipad SAP. Marinho 3 Drive 19 97 1 2 10 10 30 5 10 4 30 5 <% 1 Comments Tenants Own Electricity & Water Supply? <% 1 Located within Mixed use 5 0meters of 0 development Landmark Huawei. Pan Air France Ocean Oil Yes Yes <% 1 Owned by a major Indian trading family 15 7 <% 1 Located in commercial part of VI <% 1 Residential VI. HP. Landmark. All Rights Reserved. Alitalia. Microsoft. Churchgate Motorola Yes Yes 19 © Chapel Hill 2008.Grade A office locations in Lagos Name Location Address Year Built No. Petrobras. IBM. Virgin Atlantic. KLM. Strictly .

All Rights Reserved.0 75 .0 IBTC In-house No Yes Yes No Yes Yes Yes 20 © Chapel Hill 2008.000 None None UAC Plc Yes Yes Yes No Yes No Yes None None In-house Moderate Yes Yes No Yes Yes Yes 750 00 .000 None None In-house Yes Yes No Yes Yes No Yes 75000 .0 N/ 72 .000 Walter Carrington Crescent Glover Road 1 3 90 . of Floors Rent ($/year) Sale Price (US $) Vacancy Retail Units Management Adequate Parking Own Electricity & water Supply? Swimming Pool Games Tennis/ Squash Function Room Security South Atlantic Towers Victoria Island 7Adeola Odeku 1 1 IBTC Apartments Victoria Island Niger Towers Ikoyi Admiralty Towers Ikoyi Gerrard Road 1 1 Ocean Parade Ikoyi Banana Island 1 1 85 .000 1 0 N/ A None Yes SAPETRO Holdings None Yes No No No No Yes 75 . Strictly .Luxury apartments in Lagos Name Location Address No.000 None None 80000 A .

retail. office and luxury residential markets across West Africa.  TA is bringing assets including the Palm Courts I & II.Persianas Development Company Limited  Persianas Development Company Limited (“PDC”). commercial. Strictly . All Rights Reserved. This is to ensure that he is fully committed to the business and has no potential or conflict of interest Huge imbalance in supply and demand for real estate Upfront rent typically 2-5 years Minimal vacancy loss on premium properties. with a view to defining this category of the real estate market. a project pipeline of circa US$1 billion. which will be the vehicle used to develop all of his projects going forward.  PDC will be focused on quality real estate to cater to the growing demand in West Africa. TA will reverse all of his assets into PDC. the Palms Mall and other assets including land into PDC in exchange for which he will receive equity in PDC. entertainment and hospitality centres across West Africa. who is arguably the most visionary developer in West Africa and the developer of the largest retail mall in West Africa.  TA is also bringing into PDC.  The principal sponsor of PDC is Tayo Amusan (“TA”).05% Average 35% annual rental rate increase for premium properties Relocation of oil workers from Port Harcourt to Lagos      PDC is committed to improving the environment through the development and operation of world class retail. 21 © Chapel Hill 2008. TA is targeting lifestyle and destination properties. is a property development holding company registered in Mauritius and Nigeria. the Palms Shopping Mall. with a strong focus on the Nigerian real estate market.  PDC will execute a pipeline of real estate development projects in the commercial.

 The Palm Courts generates annual rental income in excess of USD 1.  The property is valued at circa USD 25 million.5 million. Strictly . 22 © Chapel Hill 2008. Exxon Mobil and the German Embassy.  It provides functional and luxurious accommodation to the expatriate staff of Ericsson. arguably the most visionary developer in W/Africa  Persianas Palm Courts is a residential luxury apartment estate developed over 20 years ago located in Victoria Island comprising of 2 blocks of 24 apartments and 3 penthouses. All Rights Reserved.TA.

23 © Chapel Hill 2008.134sqm is fully let 18.  The Palms Mall project was completed at approximately African Finance Project Deal 2005 US$50 million and was voted the African Finance Project Deal of the Year 2004 by the Financial Times. mall in double centre with a total built area 24.The Palms Shopping Mall  Joint venture project between Biggest Shopping Mall in W/Africa TA and Actis.5 comprises of  The circa. Yields expected to rise to 15% in 2009.846sqm lettable space. generates million over rental USD$ Highest rents achieved per sqm revenues annually. a The mall storey and and 6. All Rights Reserved. Strictly .

Strictly .000 people with more than 700 tenants wait listed for vacant space. All Rights Reserved.  Anchors have signed 10 year leases and also provide a turnover upside.  Daily footfall in excess of 20. Premier shopping destination in Lagos 24 © Chapel Hill 2008.The Palms Shopping Mall  The Palms has attracted high quality anchor tenants High quality anchor tenants including some of Africa’s leading retail names.

All Rights Reserved. Strictly .Project Pipeline 25 © Chapel Hill 2008.

Strictly . luxury residential. • The Palms Phase II project . office.Project Pipeline  PDC is currently exploring other identified strategic opportunities in the integrated mixed use development to be situated next to the existing palms mall Developments of similar mixed-use projects in Ikeja and Festac in Lagos. Enugu. hospitality and light industrial property markets. Kano. Abuja and across the country. Joint ventures and strategic alliances with land or real estate asset rich multinationals. All Rights Reserved. • Seme Border ogistics terminal • Lafarge property portfolio • Warri Mall and • Sagamu Mall • • 26 © Chapel Hill 2008. state governments and government agencies. Ibadan.

Palms Phase II 27 © Chapel Hill 2008. All Rights Reserved. Strictly .

The project upon completion is estimated to generate an annual rental income in excess of USD 55 million. Ground breaking on the project will be in Q4 2008. .Palms Phase II The Palms phase II project will consist of 3 visually attractive towers. the retail mall will be completed in December 2010 with apartments in June 2011 and the offices should be completed within 36-40 months. The project would be completed in two phases. It is located adjacent to the Palms Mall in Lekki and is a nearly 2 million square feet development. The concept drawings have been completed and the project is in the planning approvals stage. The land is conservatively valued at just over USD 20 million and initial project economics indicate a project completion at around USD 550 million.

200 cars 29 © Chapel Hill 2008. Tallest wing reaching 35 floors  28. allowing single or multiple client configurations.376 sqm of Class A office space on two towers. All Rights Reserved.000 sqm of lettable area  Flexible and adaptable design.429sqm of retail space on two levels with race track configuration  26.Palms Phase II – Project Details  42.000sqm of lettable space with large food court on the mezzanine level  Shop sizes ranging from 35sqm to 8. Parkade  Six levels of covered parking  Providing secured and covered space for 2.000 sqm Retail Office  39. Strictly .

3-  Integrated property management with 24 hours power back-up.Palms Phase II – Project Details  5134sqm of multi level health club located on the 20th floor height. All Rights Reserved. Service s Security with access control with CCTV monitoring. 30 © Chapel Hill 2008. sewage processing unit. water treatment plant.  Comprises of squash and basket ball courts and all the modern amenities associated with a world-class health club.  One view facing the Lagos lagoon and the other view is of the Atlantic ocean. Health club Residentia l  83 luxury residential apartments in one block comprising of 1 to bedroom apartments and penthouses. Strictly . with 360 degree view. directed access and infrastructure support.

Palms Phase II – Project Details Pre-lets & Potential tenants PDC is in advanced negotiations with multinational tenants for leases covering 50% of the commercial space in the palms phase II development Existing retail anchor tenants have given in principle commitments to taking up to 30% of the retail space Line shop owners in the Palms Mall along with up to another 700 retailers are wait-listed for more space The wait-list for shops at the Palms Mall could swell further if the government of Nigeria were to lift the ban on textile importation. .

Palms Phase II – Concept Design .

000 sqm.000 sqm will have a lettable retail space of 12.  Initial economic projections estimate that the project will be completed at around USD 40 million. 2009.  The project will be developed on the site of the Enugu Polo Park on prime land measuring in excess of 80.000 sqm.  The project is a mixed use development of which a retail mall will be the first phase. Strictly 33 . All Rights Reserved. Concept Drawing for Enugu © Chapel Hill 2008.Enugu Palms Mall  The Enugu Mall is a joint venture project between TA and the Enugu State Government.  The project is expected to commence in Q1.  The project upon conclusion will generate estimated USD 5 million annual rental and other income. The first phase total developed area of 16.

Strictly .Enugu Palms Mall. All Rights Reserved.Concept Design 34 © Chapel Hill 2008.

35 © Chapel Hill 2008.  The Festac 77 hotel has been re-developed into a new Novotel hotel by UPDC.000 sqm. All Rights Reserved.5 million.000 sqm will have a lettable retail space of 16.  The total developed area of 20.  The project is expected to commence in Q2.  The Festac Mall will be developed on land measuring circa 24.  Initial Projections show that the mall should be completed at around USD 50 million. 2009.Festac Palms Mall  The Festac Mall is a joint venture project between TA and UPDC and will be located adjoining the Festac 77 hotel.000 sqm. Strictly .  The project is estimated to generate annual rental and other income of circa USD 6.

Concept drawings of other Malls planned Ikeja Mall Ibadan Mall 36 © Chapel Hill 2008. All Rights Reserved. Strictly .

All Rights Reserved.Concept drawings of other Projects planned Proposed Kano mixed-use development Proposed Seme Logistics Terminal 37 © Chapel Hill 2008. Strictly .

Strictly . All Rights Reserved.The Further Pipeline Other Opportunities 38 © Chapel Hill 2008.

All Rights Reserved. It is estimated that this could require investments in excess of USD 1 billion. The project is estimated to cost USD 80 million. Nigerian Army Joint Venture  TA is in discussions with the Nigerian Army in respect of a joint venture to manage and rehabilitate its existing real estate portfolio. These include.Other Opportunities TA has several other initiatives and projects in the pipeline worth in excess of USD 2 billion. The Lafarge Nigeria Property Portfolio  TA is the preferred development partner in the tender process to be the developer partner on the restructuring and regeneration of the existing real estate portfolio of Lafarge which is worth over USD 100 million. Seme Border Logistics Terminal  TA is in the advanced stages of negotiations with the Nigerian Customs in respect of a development partnership to develop a mixed used border complex and logistics terminal. Strictly . Regional Opportunities in West Africa including Retail and Residential in Ghana etc 39 © Chapel Hill 2008.

Strictly .Value Proposition 40 © Chapel Hill 2008. All Rights Reserved.

Investment Structure TA’s Equity Assets & Land Bank New Equity PWH Debt Land Bank Persianas Development Company IPO Assets and Projects .

Key Investment Highlights  Total new funding required is about [$. Strictly .  The four year investment profile is extremely attractive:   75% IRR achieved based on conservative estimates of operating cash flows and sale prices of the luxury apartments Combined valuation of [$.] million invested to date by promoters on land acquisition. All Rights Reserved. Additional upside potential include the following:     Revenue upside from retail anchors Income from Branding and advertisement Income from Car parking Limited annual rental growth 42 © Chapel Hill 2008.] million for PDC achieved  Conservative assumptions used. perfection of title.] million    PDC is seeking an equity investment of [$. etc. several potential income streams are not factored into the valuation.] million for a 20% ownership stake in the company (post-money) The signature project Palms Phase II will have an 80% leverage ratio to completion About [$. pre-development costs.

All Rights Reserved.Key Investment Highlights Potential Investment Exits  Several exit alternatives will be actively pursued:    Listing on a major public equities market Sale to private or public real estate investment funds Sale to a pension fund 43 © Chapel Hill 2008. Strictly .

High Level Transaction roadmap Capital Raising and Project Mobilization Conclude debt and equity financing for the project and mobilization of project team Q3’ 08 Construction Start Commence Pre marketing of Palms II and pipeline launch Q1’ 09 Soft Openings Soft Opening of Retail section of Palms II and Festac Palms Q4’ 10 Finalize IPO Structure Agree transaction structure and finalize further asset acquisition Q1’ 12 IPO Initial Public offering of PDC Q2’ 12 .

In 2005.Tayo together with Actis completed the development of the first retail mall in Nigeria. Strictly . Tayo is the Chairman/ Chief Executive of Persianas Properties Limited (owners of the Palms Mall) and serves on the board of several other companies including Garages Limited and Southern Petroleum gaps and a clear understanding of retail and luxury residential developments.Our People Tayo Amusan Tayo is the principal sponsor of Persianas Development Company Limited. He has over 25 years of real estate development experience in Nigeria and internationally and is the first West African to attract international private equity investment to real estate. He has extensive experience and a solid reputation in executing project financing transactions and has received awards for his contribution to the development of real estate in Nigeria His prior real estate successes were based on exploiting demand. All Rights Reserved. He also acts as an advisor on oil & petroleum matters to Masefield Limited in the United Kingdom 45 © Chapel Hill 2008. He is a graduate of Business Administration from the University of Atlanta.

The V Mobile business (now Celtel) has experienced phenomenal success since its inception and is now Nigeria’s second-largest GSM operator with over 12 million subscribers. © Chapel Hill 2008. compliance with Securities laws involving investments across sectors including energy. From June 1998. new listings. a pre-eminent Nigerian investment bank where he led advisory teams in major corporate and complex transactions. Bolaji Balogun ‘Bolaji Balogun is the Managing Director and Chief Executive Officer of Chapel Hill Denham Group and Managing Partner and Chief Executive Officer of Chapel Hill Advisory Partners.Our People Mr. debt conversion. equity & debt capital raising.1 billion annual revenues. including privatizations. In January 2001. ‘Bolaji had left V Mobile and returned to financial services with the formation of Chapel Hill. ‘Bolaji left FCMB Capital Markets to become a co-founder of Econet Wireless Nigeria. was appointed Chief Marketing Officer.He is a Director of FCMB Capital Markets. He led the capital raising effort to raise over US$750 million for the license and network build-out. Lafarge WAPCO Cement Plc (a Lafarge subsidiary) 46 and NAHCO Plc. Strictly .The business (later known as V Mobile) was awarded a national license for US$285 million in January 2001. telecommunications. he was Executive Director and Chief Operating Officer at CSL Stockbrokers (part of First City Group) and in this role was a member of the Nigerian Stock Exchange (“NSE”) project teams which automated delivery. M & A. He is a graduate of the London School of Economics and is a licensed securities dealer in Nigeria. He was pioneer Chief Business Development and Strategy Officer and in October 2001. settlement and trading on the NSE. buyouts. He was also a founding Director and a member of the license bid auction team. which won the GSM license. Bolaji spent eleven years in the investment banking within First City Group. The business was sold to MTC-Celtel for US$1. IPOs. FMCG & financial services. Prior to that. All Rights Reserved. he was Executive Director at FCMB Capital Markets. leaving the business in January 2001. He has over nineteen years experience in investment banking and mobile telecommunications. From April 1993 to January 2001.65 billion in June 2006. restructurings. He advised clients on market entry into Nigeria and on the acquisition of Nigerian companies. over US$1.

He was thereafter transferred to the Global Markets Division Internally as Head of Central European and Baltic Origination to build a market leading bond franchise in Poland and the Baltics. Awarded Polish and Baltic Bond House of the year . London in 2000 were he was Director. Berkeley (1995) and a Masters in Economics with emphasis on Transition Economies (1996) from Uniwersytet Jagiellonski. 100% in Baltics (nearest competitor 15 and 0% share). attained 40% market share in the Poland. He has over eleven years experience in corporate and investment banking. He later returned to Deutsche Bank AG. All Rights Reserved. He left for Credit Suisse First Boston AG. New York/London in 1998 where he was given the mandate to assist in growing Leverage Buyout “LBO” market in Germany and Poland. He commenced his career in 1996 at GATX Capital Corporation. He joined Renaissance . Strictly © Chapel Hill build a market leading franchise. Major high points were. London as Managing Director Global Markets in 2004 were he was Head EEMEA Capital Markets (all Public 47 Markets – Debt and Equity) with responsibility to 2008. At CSFB he developed a US$15 million per annum franchise and grew underwriting over a four year period by US$3 billion. San Francisco as an Associate Director where he worked in the Corporate finance Division.1999 by Euromoney Magazine.Our People David Lasky David holds a Bachelors Degree in English and German Literature from the University of California. Krakow Poland. From there. increase in Underwriting over the period to over US$3 billion. Fixed Income Head of CIS Origination. he proceeded to Deutsche Bank AG.

Our People Prakash is a management professional with over 15 years of progressive Prakash Pantham marketing. maintaining very clear market leadership in the PTO sector in terms of subscriber base. he worked with Reliance Infocomm Limited. Before coming to Nigeria. At Starcomms. marketing and customer care operations. across the country. All Rights Reserved. He also worked as Head . he managed and set up the entire distribution network for the company. sales and marketing. Sales Operations. an E-commerce portal and Marketing Manager at Hutchison Telecom in India. Prior to joining Starcomms. India’s leading telecommunication and information management company. Pantham was the Head of Distribution with Globacom Limited. as Head. the second national operator in Nigeria. He has a Masters in Business Administration (Marketing) from the University of Baroda. © Chapel Hill 2008. His last assignment was with Starcomms Plc as the commercial director overseeing sales. operations and executive level experience in the ICTindustry. Strictly 48 . While at Globacom. Pantham helped to navigate the brand on the path of steady and consistent growth. customer service delivery and product and service innovativeness. He has significant experience with start-up operations and new business creation and is the Chief Commercial Officer at PDC with responsibity for business development strategic planning.Business Services at Textile Portals Limited.

Our People [. Strictly . All Rights Reserved.] Okoye 49 © Chapel Hill 2008.

Next Steps 50 © Chapel Hill 2008. Strictly . All Rights Reserved.

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