A REPORT ON THE STAC ALUMNI HOSTEL PROJECT (AKA STAC VILLA PROJECT) - PowerPoint Presentation

A REPORT ON THE STAC ALUMNI HOSTEL PROJECT (AKA STAC VILLA PROJECT) PRESENTED AT THE ANNUAL GENERAL MEETING STAFARE 2017 On Saturday, 11th November, 2017

PROPOSED HOSTEL IN VIEW

HIGHLIGHTSIntroduction Committee MembersTerms of Reference Overview of the Project Advantages of Investing in the ProjectInvestment PlanFuture Projection List of InvestorsChallengesDrawings

INTRODUCTIONThis report tends to give details of the setup of the building committee, the overview of the project, the list of investors and the future prospects. We hope that at the end of this report, those who have invested will be happy with the efforts thus far while those yet to key in will see reasons why they should invest in this life time investment.

COMMITTEE MEMBERS1. Francis Adedipe – Chairman2. Edwina Bosah – General Secretary3. Adeolu Olatunji – Engineer (Elect) 4. Ayodeji Olaifa – Barrister 5. Adeleke Joseph – Engineer (Structure)6. Peter Agbesinu – Financial Expert 7. Mrs. Francisca Ogunlade – Financial Expert 8. Mrs. Adeola Ajewole - Information Expert

Terms of Reference 1Liase with the NEC for documents from the professionals (Architect, Quantity Surveyor and Site Engineers)Give estimate for the cost of the building (Hostel) in respect to the Quantity Surveyors reportGive the number of Alumni members to be part of the investment and the amount each interested alumni is to invest. Estimate the cost of hostel rentage around the hostel site. Estimate the number of years it will take the investors to get the return of their investment.Plan for the process to be used to share dividend during the annual STAFARE.Give a constant report to the NEC At the conclusion of the first phase of the project, a new terms of reference was given to help in the complete execution of the project and hand over, it includes:

Terms of Reference IIConstant Publicity of the hostel project on our communication channels to encourage members to invest. Keep records of members who invested and post regularly online number of units already purchased. Check the Building Account regularly to update records of investors so as to be in synchronism with the NEC Financial Secretary.Liase with the developer to commence clearing and foundation laying by November 1st 2017 so as to bless the Land during STAFARE 2017. Liase with the NEC Financial Secretary for the disbursement of funds to the developer as soon as he needs it and as approved by the committee. Keep records of the disbursed funds.Supervise the developer in the course of the building project. Hand over the completed hostel project to the NEC with a compiled handover note.

OVERVIEW OF THE PROJECTThe estimated cost of the Building project is Thirty Million Naira (N30,000,000.00) as quoted by the Quantity Surveyor and agreed by the envisaged developer.Number of rooms for both the ground and first floor is 20 roomsEstimated cost of rooms around Tanke is N100,000.00 but we estimated using N75,000 as suggested by the committee in an arithmetic progression. First Three Years N75,000 per room N1.5million = N4.5million Three to Eight Years N100,000 per room N2million = N10million Eight to Fifteen Years N125,000 per room N2.5million = N17.5million Total = N32million Therefore at 14 years we shall break even, but if we go through the standard of N100,000 rentage, within 12 years we break even. The building project was carefully analysed to ensure a maximum profitability is realised at the end. The summary of the analysis include:

Yearly Maintenance Charge is estimated to be 5% of generated revenue which is estimated to be N1.6million for the total period. It is observed that for the first five years they might be no much maintenance, hence such money is saved in the building account for future exigencies.It is noted that the agency fee and agreement is been collected by Landlords around the area which is usually 10%, we shall limit ours to 5% which will be collected by the estate agent/lawyer contracted to manage the property as his fee, its hopefully going to be a practicing alumni member. If the 5% is in excess or as agreed by the investors, or probably increased, such excess will be shared between the building account and the General STAC Alumni account, to be determined at AGM.

ADVANTAGES OF INVESTING IN THIS PROJECTThis project is owned by all investors for life, it is neither a turnkey project nor a BOT project (Build, Operate and Transfer). So once you have invested it becomes yours for life.In case of death of any investor, his/her yearly dividend shall be transferred to his/her next of kin which shall be indicated in the form being filled. The Investment is not transferred to the second generation; it is for alumni members and immediate family. i.e If a husband is an Investor and the next of Kin is wife, when wife dies the investment goes to any of the children (First Generation) as agreed by the immediate family, and will continue to rotate among the children (First Generation) and cannot be transferred to the Investors grandchild (Second Generation). When it comes to this stage, the quota of the dividend for this investor shall now be transferred to the Alumni. For an investor without Wife/husband or Children, if he dies, such dividend shall be transferred to parents if still alive, if not the quota is transferred to the alumni body except otherwise stated by the investor before death.

For priest and Religious who partake in this investment, they shall continue to receive their quota of dividend until death, after death, their yearly dividend shall be sent to their congregation or diocese on the date of their remembrance as a charity to them to mark his/her remembrance. Dividend shall be shared during Annual AGM Upon Completion of this project by us members of the committee, it shall be handed over to NEC who in turn has said will be handed over to the STAMCOS Ltd for management purposes.

INVESTMENT PLAN This building project has been tailored to involve a lot of members of the alumni body and it is agreed that each unit of investment will cost: Two Hundred Thousand Naira (N200,000) only, hence investors are free to purchase as many units as possible but to a maximum of 10 units. Instalment payments will be allowed according to the number of units purchased on a monthly basis.

FUTURE PROJECTIONFirst Three Years N75,000 per room 1.5million = N4.5millionThree to Eight Years N100,000 per room N2million = N10millionEight to Fifteen Years N125,000 per room N2.5million = N17.5million

LIST OF INVESTORSS/NNAME NO. OF UNITS PURCHASED 1ST INSTALMENT PAYMMENT 1 STAC ALUMNI BODY 2 4 00,000 2 FRANCIS ADEDIPE 2 100,000 3 MARY ZINSU 1 100,000 4 OKOKA DARLINGTON 1 100,000 5 PATRICK HINMILKALU OLANREWAJU 5 100,000 6 MRS. JUDITH UMUAGO 1 200,000 7 MR. PETER AGBESINU 5 4 00,000 8 MRS. TOBY IDAM 1 100,000 9 ONWUATUEGWU MICHAEL ONYEKACHI 2 NIL 10 EZENWA BEATRICE NKOLIKA2200,00011OKE TOLUWASE CLETUS1100,00012AFOLABI ELIZABETH2NIL13ENDALYN ISICHEI 1NIL TOTAL261,800,000 For the 27 units, at the complete instalment payment, we will have N5,200,000.00

CHALLENGES Low turn out on subscription of members to this investment plan has actually hampered our progress in the effective commencement of the project. Once we get 50% subscription, we shall commence immediately.

RECOMMENDATIONSMore Publicity on the investment.All National and Zonal Executives as well as members of the BOT should be encouraged to subscribe to this project.We suggest that if members of the alumni body are not willing to invest, we can open it to external bodies to invest so as to ensure we complete the project before the commencement of next session.We have the following recommendations to the National Executives as well as the general house:

DO YOU FEEL IMPRESSED WITH THIS PROJECT? MORE INVESTORS ARE STILL NEEDED YOU CAN BE PART OF THE INVESTORS BY REGISTERING ON: www.stacalumni.com/building-project

GROUND FLOOR PLAN

SIDE VIEW

ROOF PLAN

PROPOSED STAC VILLA

WHY NO INVEST TODAY AND SECURE YOUR TOMORROW?VISIT....www.stacalumni.com/building-projectTHANK YOUMr. Francis Adedipe Chairman Building Committee