L'IKELEMBA S.A.

Constitution

L’Ikelemba was founded on October 29, 1898 under the regime of the Independent State of Congo with a capital of 500,000 francs represented by 5,000 shares with a capital of 100 francs; in addition, 5,000 dividend shares were created of which 1,000 were attributed to the contributor below. Its registered office was established in the IkelembaThe Ikelemba is a tributary of the Congo River in the Democratic Republic of Congo basin and its administrative headquarters in Brussels. The Ikelemba is a tributary of the Congo River in the Democratic Republic of Congo..

The 5,000 capital shares were subscribed for by:

Messrs. Adolphe Bero for himself and his group, 845 shares; Ernest Meaux, 30 shares; Henri-Louis Lamberts, 1. Jules Mussely, 100 shares; Frédéric De Bontridder, 50 shares; Hector Lamberts, 75 shares; Joseph Mathieu, 75 shares; Jules Borel, 100 shares; Léon Rycx, 250 shares; Count Roger-Philippe-Marie de la Barre D'Erquelinnes, 250 shares; Ernest Martin, 540 shares; Emile Bero, 200 shares; Edouard Bauthier, 150 shares; Arthur Hutereau for himself and his group, 200 shares; Auguste Collet, 200 shares; Mrs. Veuve Prosper Collet née Antoinette Fréchet, 50 shares; Knight Simon de Burbure, 30 shares; Victor De Coen, 115 shares; Albert Vander Stichelen, 10 shares; Albert Leemans, 30 shares; Gustave Ketels, 120 shares; Arthur Bonmariage, 80 shares; Léon-Hubert-Marie Van Cameren, 30 shares; Edouard Jacqmain, 10 shares; Oscar Ricaille, 30 shares; Emile-Justin-Joseph Motte, 90 shares.

The shares were paid up by 20%, the sum of BEF 100,000 was at the disposal of the Company.

The 4,000 dividend shares were distributed among the subscribers to the capital shares in proportion to their subscription (12-(17/11/1898)-4460).

Contribution

Mr. Louis Lambert, owner in Vilvoorde contributed the option to acquire a block of 1,000 hectares in the Ikelemba basin in exchange for 1,000 dividend shares (21-(1899 T1)-97).

First Board of Directors

For the first time the meeting set the number of directors at six:

Messrs. Henri-Louis Lamberto, Roger-Philippe-Marie de la Barre d'Erquelinnes, Adolphe Ber, Auguste Collet, Ernest Martin, Léon Rycx

Object

The establishment of crops and trading posts in Africa and the exploitation of any African or other products. To be able to carry out all commercial or industrial operations, to transform agricultural products into manufactured products, to establish establishments in all countries (12-(17/11/1898)-4460).

Changes in capital, event(s), shareholding(s), dividend(s), quotation, etc.

The first two years were fruitful, the Company harvested +/- 5 tonnes of rubber per month at 10 francs per kg. Fifty hectares were cleared, coffee, cocoa and rubber trees were planted. For the financial years 1899 and 1900, a dividend of 5 francs was paid on the capital shares (21-(1901 T1)-79).

The following years did not produce the expected results.

In 1901, the right to choose 1,000 hectares was transformed into the right to choose three positions, granted on a permanent basis (21-(1902 T1)-67).

In 1903, 100 hectares were cleared and planted, the posts produced one tonne of rubber per month and 6 tonnes of copal were collected in one month.

In 1905, the drop in prices and a loss of 22 tonnes of copal, along the way, led to a loss of 69,500 francs on the 1903 stock made in 1904. The malevolence of the natives prevented the harvest for six months (21(1906 T1)-59).

In 1907, the accumulated loss was amortized by the cancellation of the capital. Creation of a Syndicate of Equateur between the companies exploiting the Ikelemba region in which Ikelemba took a 15.50% stake, this syndicate was dissolved following a loss of 95,000 francs (21-(1908 T1)-556/557) (21-(1909 T1)-53) ;

In 1909, the fall in rubber prices frustrated the Company's plans to find a way out of this situation.

In 1910, the Société Equatoriale Congolaise Lulonga-Ikelemba was created; L’Ikelemba contributed all its assets to Congo. Following this contribution, L’Ikelemba received 300 profit shares from Equatoriale (21-(1912 T1)-57).

In 1923, Société Equatoriale Congolaise Lulonga-Ikelemba revalued its assets, unified its shares, and increased its capital. L’Ikelemba then owned 525 shares of L'Equatoriale (21-(1924 T1)-1254) and 213 shares were sold in 1924 to repay creditors.

Dissolution and liquidation

Having reached the end of its 30-year term, the company was dissolved and put into liquidation on October 9, 1928. There were still the shares of Secli "Société Equatoriale Congolaise Lulonga-Ikelemba", which were partially sold to clear the liabilities of the company and to allocate a first liquidation distribution of 23 francs. The EGM of July 4, 1929 decided to sell the remaining Secli shares at best when the share price improved (21(1930 T1)-540).