CHAMS : QUARTER 5 - FINANCIAL STATEMENT FOR 2022

CHAMS HOLDING COMPANY PLC

(Formerly CHAMS PLC)

CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS 31 DECEMBER 2022

CHAMS HOLDING COMPANY PLC (Formerly CHAMS PLC)

CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Contents			Page
Corporate information
Directors' Report
Statement of directors' responsibilities in relation to the consolidated and separate financial statements
			1
Statutory Audit Committee's Report	2
Independent Auditor's Report	3
Consolidated and separate statement of profit or loss other comprehensive income	6
Consolidated and separate statement of financial position	7
Consolidated and separate statement of changes in equity - Group	8
Consolidated and separate statement of changes in equity - Company	9
Consolidated statement of cash flows	10
Notes to the consolidated financial statements	11
Other national disclosures:
Statement of value added	69
Financial Summary- Group	70
Financial Summary - Company	71

CHAMS HOLDING COMPANY PLC (Formerly CHAMS PLC)

CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Corporate Information
Company Registration Number	-	RC 76807
			The principal activities of	(Chams Holding	Company	Plc
			(Formerly Chams Plc) and its subsidiaries continue to be
			provision of Digital business intelligent solutions across a broad
			range of market segments. This includes the development,
			deployment, implementation and maintenance of technology-
			based payment and other	digital solutions;	to facilitate	the
Nature of business	- innovative development and operations of digital business.
Directors:
Name		Designation
1.	Sir Demola Aladekomo	-	Chairman
2.	Mr. Gavin Young	-	Group Managing Director
3.	Dr. Mohammed Santuraki	-	Non-Executive Director
4.	Pastor Ituah Ighodalo	-	Independent Non-Executive Director
5.	Alhaji Yusufu Modibbo	-	Non-Executive Director
6.	Mr. Tomiwa Aladekomo	-	Non-Executive Director
7.	Mrs. Mayowa Olaniyan	-	Non-Executive Director
8.	Mr Segun Oloketuyi	-	Non-Executive Director
9.	Mrs Ola Bakare	-	Independent Non-Executive Director
10. Sir Ayobola Abiola		Non-Executive Director
Company Secretary	-	Yetunde Emmanuel
			FRC/2018/NBA/00000018086
Registered office	- 8 Loius Solomon Close
			Off Ahmadu Bello Way
			Victoria Island
			Lagos
Auditors	-	PKF Professional services
			PKF House 205A
			Obanikoro
			Ikorodu Road
			Lagos State
			www.pkf-ng.com
Bankers	-	Providus Bank

Guaranty Trust Bank Plc

Access Bank Plc

Sterling Bank

Polaris Bank

Stanbic IBTC

Zenith Bank Plc

United Bank of Africa Plc

First Bank Limited

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Directors' Report for the Year Ended 31 December 2022

The Directors present their annual report on the affairs of Chams Holding Company Plc ("the Company"), and subsidiaries ("the Group"), together with the group audited financial statements and the auditor's report for the year ended 31 December 2022.

1. PRINCIPAL ACTIVITIES

The principal activities of Chams Holding Company Plc and its subsidiaries continue to be provision of Digital business intelligent solutions across a broad range of market segments. This includes the development, deployment, implementation and maintenanceof technology-based payment and other digital solutions including; to facilitate the innovative development and operationsof digital business.

2. LEGAL FORM

The company was incorporated as a private limited company on September 10th 1985 and became a public limited company in 2007. At the 23rd Annual General Meeting of the Company on the 6 June 2008, the shareholders authorized the Directors to change the name of the Company from Chams Nigeria Plc to Chams Plc. Subsequent to the Placements authorized by the shareholders, an application was made to the Council of the Nigeria Stock Exchange for the admission of all the issued and paid-up shares of the Company to the Daily Official List of the Exchange through Listing by Introduction.

At the 38th Annual General Meeting of the Company on 12th May 2022, the shareholders authorized the Directors to change the name "Chams PLC" to CHAMS HOLDING COMPANY PLC, pursuant to the Central Bank of Nigeria Guidelines for Licensing and Regulation of Payment Service Holding Company in Nigeria.

3. SUBSIDIARIES

The company has three subsidiaries and an associate Company; CardCentre Nigeria Limited, engaged in the production and manufacturing of Cards- Identity, payments, Smart cards etal; ChamsAcccess Limited, licensed consortium for the deployment of ATMs in the country also involved in the deployment of multi-application terminals; ChamsSwitch Limited, licensed by CBN for provisionof the e-payment transaction processing platform for the Nigerian Market, and ChamsMobile Limited, the associate Company, is licensed by CBN to provide mobile money accounts supported with a country-wide financial services agent infrastructure.

4. OPERATING RESULTS

The following is a summary of the Group's operating results:

O P E R AT I N G R E S U LT S U M M A R Y
	G R O U P	C O M P A N Y
	2022	2021	2022	2021
	N'000	N'000	N'000	N'000
Turnover	5,066,147	3,324,752	51,983	283,396
Cost of Sales	(4,061,357)	(2,579,071)	(74,510)	(219,263)
Gross Profit	1,004,789	745,681	(22,527)	64,132
Loss/Profit After Tax	(375.240)	(359,916))	(145,480)	35,217
EPS	(6.93)	(6.39)	(3.1)	0.75

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5. SHARE CAPITAL HISTORY

Year		Authorized	Issued Share Capital	Consideration
Increase		Cumulative	Increase	Cumulative
1985	100,000		100,000	100,000	100,000	Cash
2004	99,900,000		100,000,000	0	100,000	Cash
2005	200,000,000		300,000,000	0	100,000	Cash
2006	0		300,000,000	99,900,000	100,000,000	Cash
2007	2,200,000,000		2,500,000,000	72,106,000	172,106,000	Cash
2007	2,500,000,000		5,000,000,000	172,106,000	344,212,000	Cash
2007	0		5,000,000,000	1,376, 848, 000	1,721,060,000	4 for 1 Bonus
2008	0		5,000,000,000	2,000,000,000	3,721,060,000	Cash
2008	0		5,000,000,000	975,000,000	4,696,060,000	Cash
2009	0		5,000,000,000	0	4,696,060,000	Cash
2010	0		5,000,000,000	0	4,696,060,000	Cash
2011	0		5,000,000,000	0	4,696,060,000	Cash
2012	0		5,000,000,000	0	4,696,060,000	Cash
2013	0		5,000,000,000	0	4,696,060,000	Cash
2014	0		5,000,000,000	0	4,696,060,000	Cash
2015	0		5,000,000,000	0	4,696,060,000	Cash
2016	0		5,000,000,000	0	4,696,060,000	Cash
2017	0		5,000,000,000	0	4,696,060,000	Cash
2018	0		5,000,000,000	0	4,696,060,000	Cash
2019	0		5,000,000,000	0	4,696,060,000	Cash
2020
0		5,000,000,000	0	4,696,060,000	Cash
2021
0		5,000,000,000	0	4,696,060,000	Cash
2022
0		5,000,000,000	0	4,696,060,000	Cash

6. DIRECTORS WHO SERVED DURING THE YEAR

The following Directors served during the year under review:

Name	Designation
Sir Demola Aladekomo	Chairman
Mr. Gavin Young	Group Managing Director
Dr. Mohammed Santuraki	Independent Non-Executive Director
Alhaji Yusufu Modibbo	Non-Executive Director
Pastor Ituah Ighodalo	Independent Non-Executive Director
Mr. Tomiwa Aladekomo	Non-Executive Director
Mrs. Olamojiba Bakare	Independent Non-Executive Director
Mr. Segun Oloketuyi	Non-Executive Director
Mrs. Mayowa Olaniyan	Non-Executive Director
Sir Abiola Ayobola	Non-Executive Director
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