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Starcomms & Cadbury Plc Updates.

Starcomms Plc blazes the trail on the telecommunication sub sector.

Starcomms Plc, a telecommunications outfit, was commercially launched in 1999 and its deployment of the world class CDMA technology in 2002 has exponentially taken the company to its current position of over 1,000,000 customers in Lagos, Kano, Maiduguri, Port-Harcourt, Ibadan, Abuja, Aba,Onitsha, Asaba, Kaduna, Zaria and Benin. In 2002 the company introduced a revolutionary marketing strategy aimed at permanently changing the fixed/wireless industry for the better. The strategy focused on the need to improve customer service quality and network performance.

The company took additional strides as the leading PTO in December 2003 when it deployed an Intelligent Network technology in Nigeria. History was made in December 2003 when Starcomms introduced its Intelligent Network, the next generation of wireless services, in Kano, Nigeria. Starcomms has maintained a distinct business approach that combines technological novelty and excellence with good customer orientation and a unique branding concept that stands it out amongst pairs. The company, which is managed by a team of professionals led by the Chief Executive Officer, Mr. Maher Qubain, holds strategic alliances with Qualcomm, CDG, Huawei, Hisense, Harris, Haier, LG and Nera to provide cutting edge technological equipments to deliver on its service promise.

Starcomms made its debut in the telecommunications sub sector of the Nigerian Stock Exchange last week by listing a total of 6.9 billion ordinary shares of 50 kobo each at N13.65 per share by way of introduction.

Cadbury Plc placed on full suspension

Recent developments have revealed that the last has not been heard of the Cadbury Plc’s financial misstatement saga that was uncovered about two years ago, involving its former Managing Director, Financial Controller and some other principal officers. The Investment and Securities Tribunal, last week enforced a full suspension sanction on the company’s shares. This sanction was initially intended by the Securities and Exchange Commission, but countered by the Nigerian Stock Exchange for lack of a legal backing. However, the Investment and Securities Tribunal, a court of competent jurisdiction on investment matters has imposed the penalty, leaving the Nigerian Stock Exchange with no other option but to consent.

Nevertheless, Cadbury Plc has stated that ever since the misstatement matters came into the limelight, the company had consistently cooperated with the regulators, and would continue to search for justice through the law courts.

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