Capital Bancorp Limited is offering a Rights Issue of 1 for 1 to its existing shareholders. The offer opens today and it is expected to close on November 30, 2010. This Rights Issue is being undertaken to recapitalize the Company and shore up shareholders’ funds as well as reposition the Company to face the challenges of the emerging business environment. Proceeds of the Offer will be used to upgrade the Company’s existing Information Technology platform, pay off existing bank facilities and augment working capital requirement.

Capital Bancorp Limited held her 21st Annual General Meeting at The Lagos Resource Centre, 9, Anifowose Street, Victoria Island on Thursday, August 5, 2010 at 11am.

The Report of the Directors and Audited Financial Statements together with the Auditor’s Report for year ended March 31, 2009, were received and approved by the shareholders at the meeting. The increase of the Authorised share capital of the Company from N250,000,000.00 (Two hundred and fifty million naira) to N500,000,000.00 (Five hundred million naira), and Rights

Issue of 1 for 1 as proposed by the Directors, to be issued to the existing shareholders later in the year were approved as part of the special business at the meeting by shareholders.

Capital Bancorp Limited held a 3-day Retreat for its staff tagged “Effective Team Performance” between April 30 and May 1, 2010, at Royal Cedar Hotel, Ajah, Lagos. The objective of the Retreat was to refocus and reposition the Company. The Retreat also carved a Vision Statement, Mission Statement and Core Values for the Company. Another phase of the Retreat has been scheduled for June 26 to 27, 2010.

Capital Bancorp Limited had its maiden customers’ forum yesterday December 10, 2009, at the Lagoon Restaurant, Victoria Island, Lagos. The forum according to the Chairman of the Company, Mr. Olutola Mobolurin (the Pioneer Managing Director), was to thank the customers for their continuous patronage and confidence in the Company over the years. He also used the occasion to re-introduce the product and service offerings of the Company. Clients were able to interact with their various Account Officers. In his closing remark, the Managing Director of the Company, Mr. Aigboje Higo, thanked everyone for honouring the invitation and assured them of better services.

The Pioneer Managing Director of the Capital Bancorp Limited, Mr. Olutola Mobolurin, is now the Chairman, while Mr. Aigboje Higo has been appointed the new Managing Director of the Company both effective from May 1, 2009. Until his appointment, Aigboje was the Managing Director of Pensions Alliance Limited. He is a seasoned Investment Banker and Authorised Dealing Clerk of The Nigerian Stock Exchange. He holds B.B.A in International Business from Howard University and MBA from American University, both in Washington D.C, USA.

Capital Bancorp Limited has moved to 9/11 McCarthy Street, Onikan, Lagos.
All correspondence should be forwarded to the above stated address.

There have been significant improvements to the company’s website.
Users can now view/access
Ø Daily market data such as pricelist, top gainers and losers.
Ø 30 Day price trend, trades and volume trend by clicking on the company name from the pricelist.
Ø Daily financial news.
Ø Download daily market update using Adobe reader.
Ø Download CBL monthly newsletter using Adobe reader
Ø Download the application form for any on-going public offer.

Further improvements are underway. Clients are encouraged to visit the site regularly.

Crusader Insurance (Nigeria) Plc has been rated ‘A’ by Agusto & Company Rating Agency in the current Insurance Report. According to the report, Crusader has one of the largest investment portfolios amongst insurance companies in Nigeria, based on the 2005 Insurance Survey. The report also credited Crusader with good cash flow and liquidity, as well as adequate reserves for the level of risks the Company bears.

The Securities and Exchange Commission (SEC) has approved Crusader Insurance (Nigeria) Plc’s acquisition of Golden Insurance Company Limited, Refuge Insurance Company Limited and Royal Trust Assurance Limited.

Crusader Insurance (Nigeria) Plc was on 28th February, 2007 issued two new licenses by the National Insurance Commission (NAICOM) to operate a new Life Insurance company (Crusader Life Insurance Limited) and a Non-Life Insurance company (Crusader Insurance (Nigeria) Plc).

Shareholders of Crusader Insurance (Nigeria) Plc approved the Company’s merger with Admiral Insurance Company Limited at a Court-Ordered Meeting held at Federal Palace Hotel, Victoria Island, Lagos on 26th February, 2007. Shareholders of Admiral similarly approved the merger at a separate Court-Ordered Meeting held at Imperial Chinese Restaurant, Victoria Island the same day.

Shareholders of Capital Bancorp Limited successfully held their 18th Annual General Meeting on Tuesday, 20th February, 2007 at Golden Gate Restaurant, Ikoyi, Lagos. A dividend of 5kobo per Ordinary Share was approved and paid to Shareholders for the financial year ended 31st March, 2006.