It has been close to two years since 599 shareholders of Eleme Petrochemical Cooperative and Credit Society of Indorama Petrochemicals last received dividends from the shares they bought from the company.
All efforts to resolve the issue have been unsuccessful leading to pain and anguish for the shareholders who depend on the dividend from the shares for sustenance.
In 2009, the federal government through the National Council on Privatization (NCP) had approved the sale of 10% of its equity shares in Indorama Petrochemicals Ltd, Port Harcourt, Rivers State to the host community and interested staff of Indorama Eleme Petrochemicals Ltd. The 10% equity shares were shared as 7.5% was allotted to the host community while the remaining 2.5% was allotted to the Staff of Indoroma Eleme Petrochemicals.
