Abuja International Hotels Limited (LE MERIDIAN)

Company Profile

Abuja International Hotels Limited (“AIHL”) was incorporated on 25^th November 1980 with registration number 36217. It is a private limited liability company and its main objects are to carry on the business of hotel, restaurant, café, tavern, beer-house, refreshment rooms and lodging housekeepers.

Prior to the re-capitalization of the foreign loan, the authorized and fully issued share capital of the Company was N100, 000,000 (One Hundred Million Naira) divided into 100,000,000 million ordinary shares of N1.00 each of which 37,250,000 ordinary shares were fully paid up as follows:

Shareholders                                                 Shares held                Percentage

1. Federal Capital Development Authority 23,200,000                    62.3
2. National Insurance Corporation of Nigeria 7,000,000                     18.8
3. Nigeria Industrial Development Bank 3,300,000                     9.0
4. UNIC Insurance Plc 1,750,000                     4.7
5. Crusader Insurance Plc. 500,000                        1.3
6. NPA Pension Funds 500,000                        1.3
7. American International Insurance Plc 500,000                        1.3
8. Plateau investment Company Limited 300,000                        0.8
9. Niger Insurance Plc 200,000                        0.5

Total                                       37,250,000                100

The Federal Government’s interests are held by the first three shareholders with a total of 33,500,000 ordinary shares representing 33.5% of the issued share capital and 89.9% of the paid up capital of the Company.

Following the recent capitalization of the US$141.399million being owed to Algamene Bank of Netherlands at N102.55 to US$1, the authorized and fully paid share capital have been increased to N14, 537,250,000, hence the existing shareholding structure as follows:

S/N	Shareholders	New Holding	%
1	Federal Capital Development Authority	23,200,000	0.160
2	National Insurance Corporation of Nigeria	7,000,000	0.048
3	Nigeria Industrial Development Bank	3,300,000	0.023
4	UNIC Insurance Plc.	1,750,000	0.012
5	Crusader Insurance Plc.	500,000	0.003
6	NPA Pension Funds	500,000	0.003
7	American International Insurance Plc.	500,000	0.003
8	Plateau Investment Company Ltd.	300,000	0.002
9	Niger Insurance Plc.	200,000	0.001
10	MOFI	14,500,000,000	99.740
		14,537,250,000	100.000

Note:  Amounts already paid and future maturities of principal / interest, all totaling US$40.132million, have not been capitalized.

Location

The Hotel is situated on Plot 908 Tafawa Balewa Way, Garki Abuja in the heart of the Central Business District of Abuja municipality at a close proximity to various government parastatals such as the Revenue Mobilization Allocations Fiscal Commission, the Women Center, the Radio House, the ongoing Central Bank of Nigeria Headquarters and the Federal Capital Development Authority (“FCDA”) secretariat. From the roof top of the Sofitel Hotel a panoramic view of the Abuja municipality is presented.

Existing Structure

The Hotel is a 14-floor structure arranged on plan as a C-Shaped structure and appears to be rhombic in shape, complete with a Plant House and a 451 No. Lavish car parking space on 2 wings surrounding the building. Access into the Hotel is through two gates located along Tafawa Balewa Road. The left-side gate provides access to the main reception area whilst the right- side gate provides access to the Ballroom/conference Hall and the presidential wing. Each of the gates provides independent entrance and exit facilities. Construction is of reinforced concrete columns and beam framework with sandcrete fillings and curtain walls. The design, construction and finishing despite the long time i.e over 20 years still appears relevant to modern expectations.

General details of accommodation

Basement (Level 98)

Plant Rooms, Linen Store, Laundry, Cellars, Storages etc.

Ground Floor (Level 99)

Stores, Freezers, Squash courts, Plant rooms, food stores, kitchens, changing rooms, restaurants, ball room/conference facilities etc.

Upper Ground Floor (Level 00)

Changing rooms, Sauna, Rest rooms, Administrative rentable office, gym etc.  Table 3

Floor (Level)	Guest Room	Business Suites	Luxury Suites	Presidential Suites
2	36	–	4	–
3	36	–	4	–
4	52	4	2	–
5	52	1	2	1
6	52	1	2	1
7	48	2	2	1
8	48	2	5	1
9	52	5	–	–
10	52	5	–	–
11	52	5	–	–
12	52	5	–	–
Total	532	30	18	4

13^TH  Floor:-Lift Motors and Machines Room 1

Categories of Hotel Room Accommodation

The Hotel room accommodation is designed and categorized into different units namely:

• Presidential Suites
• Luxury Suites
• Business Suites
• Guest Rooms

The details of a typical unit of each are as follows:

A: –Presidential Suites

• Lavish sitting room
• Guest WC/WHB
• Guest bedroom from 1 to 3 rooms
• Servant room
• Servant wc/shower
• Extensive lobbies
• Lavish ensuite wc/bath/bidet

B: –Luxury Suites

• Sitting room
• Guest bedroom ranging from 1 bedroom to 2 rooms
• Guest wc/wub
• Lavish ensuite wc/bath/bidet

C: –Business Suite

• Living room
• Guest room
• Single wc/whb

D: –Guest Room

• Single room
• WC/Bath

External Developments

Landscaping

The entire landscape of the Hotel premises is in good structural condition..

Lawn Tennis Court

The lawn tennis court is in good structural condition.

Swimming Pool

The swimming pool is located at the centre of the main Hotel complex. Access is directly from level OO or alternatively from the right wing car park and from the lawn tennis court.

The swimming pool consists of 3 segments namely:

• Adult pool
• Children pool
• Shower pool
• Car Parking

The site is developed into 2 different areas for parking purposes with a total capacity for about 451 parking spaces.

Toilets (General, Guest Rooms, Kitchen Units Etc.)

The toilets are generally in an excellent state with high quality ceramic tiles in perfect conditions.

Fixed Assets

The Hotel Property: The property on which the hotel is built at Plot 903 Tafawa Balewa Way, Area 11, Garki, Abuja is covered by Certificate of Occupancy No. FCT/ABU/MISC. 3723 and Registered as No. FC35 at Page 35 in Volume 5 at the Lands Registry, Abuja. The Company has an un-expired term of 78 years on the property.

Other Facilities include:

• –           3 (three) Specialized restaurants & a dining area
• –           2 (two) bars & one discotheque
• –           2 (two) meeting rooms and a big conference room
• –           swimming pool
• –           3 (three) tennis court
• –           3 (three) Squash court
• –           Sauna Cabins with showers
• –           Lettable offices on 2 floors