R.T. Briscoe, Plc.

R.T. Briscoe (Nigeria) PLC (“Briscoe”) was incorporated in Nigeria on 9th March, 1957, as a Private Limited Liability Company and became a wholly owned subsidiary of the East Asiatic Company Ltd. A/S (“EAC”) of Copenhagen, Denmark in 1961. The Company became a public Company in 1973 and the shares were listed for quotation on the Nigerian Stock Exchange in 1974. In August 2002, Asset and Resource Management Company Limited (“ARM”), an Investment Management Services Company acquired the majority shareholding in Briscoe from the EAC group. The Company started its business activities in Nigeria with the importation of building materials and some English trucks under an agency arrangement brokered by its parent Company. Since 1957, when Briscoe was incorporated, the Company has witnessed tremendous growth and has diversified its area of operations to include the sales and service of motor vehicles and technical equipment. Briscoe has since 1957 under the trade name “Briscoe Motors” been a dealer of Toyota vehicles in Nigeria. Briscoe became a dealer of Volvo cars in 1970 through a concessionaire Agreement dated June 18th and July 9th 1970. Between 1970 and August 1992, Briscoe served as the exclusive dealer for Volvo vehicles in Nigeria with sales and service outlets in various parts of the country until the Agreement was mutually terminated by both parties. In 2005, Briscoe expanded its product portfolio and was appointed a dealer of the Ford Motor Company for the marketing, sales and service of the Ford range of vehicles. The Ford dealership is conducted under the trade name – Briscoe-Ford. Presently, Briscoe is engaged in the marketing, sales and servicing of Toyota motor vehicles under the trade name BRISCOEmotors as one of the 8 authorised dealers of Toyota Nigeria Limited. In 2005, BriscoeFord was appointed distributor in Nigeria for the sales and servicing of the Ford range of vehicles. A Division of the Company, BriscoeTechnical, markets and services materials handling equipment, industrial compressors, mining and drilling equipment as well as generating sets. Briscoe Properties is involved in facilities management, property development, project management and estate management services. Briscoe Schneider a newly introduced division markets electrical components. Briscoe has its head office at Matori, Lagos and branch offices at Ikeja, Victoria Island, Lekki, Kano, Port Harcourt and Abuja. The Toyota and Ford dealerships are operated from separate facilities, each of which comprise offices, parts and workshop service facilities. There is a special workshop at Matori and showroom for the Atlas Copco activities. The facilities at the head office are on 3 floors and presently about a third of the office space is rented out to another Company. The Company has a staff strength of 169.