SOCIETE EQUATORIALE CONGOLAISE (IKELEMBA) S.A.
Constitution
The Société Equatoriale Congolaise (Ikelemba) was created on 28 April 1898, the capital of 400,000 francs was represented by 800 preference shares of 500 francs, in addition, 800 ordinary shares was created. The registered office was established in Antwerp.
The 800 preference shares were subscribed by the following comparators:
Mr. Louis Coetermans, 60 shares; Mr. Jean-Corneille De Groof, 100 shares; Viscount Armand de Nieulant et de Pottelsberghe, 60 shares; Mr. Louis De Ridder, 60 shares; Mr. Carlo Elsen, 50 shares; Mr. Elsen-Cateaux, 50 shares; Mr. Frédéric Jacobs, 50 shares; Mr. Henri Jacobs, 60 shares; Mr. Jules Mussely, 30 shares; Mr Albert Peers de Nieuwburgh, 20 shares; Mr. Charles Pelgrims, 30 shares; S.A. des Produits Végétaux du Haut-Kassaï, 50 shares; Mr. Alfred Roose, 100 shares; Mr. Arthur Roose, 30 shares; Mr. Louis Van den Abeele 10; Mr. Guillaume Van de Putte, 60 shares.
On subscription, 10% of the capital was paid up, i.e. 40,000 francs paid into the company's account.
The ordinary shares, except for the 80 shares handed over to Mr. Henri Jacobs, i.e. the remaining 720 ordinary shares, were distributed among the subscribers of the 800 preference shares in proportion to their subscription.
First Board of Directors
The number of directors was set at six, but appointed only five incumbents:
Louis Coetermans, Viscount Armand de Nieulant and de Pottelsberghe, Louis De Ridder, Carlo Elsen and Alfred Roose.
Contribution(s)
Viscount Armand de Nieulant et de Pottelsbergh contributed to the company, free of charge, the concession he had obtained from the EIC in the IkelembaThe Ikelemba is a tributary of the Congo River in the Democratic Republic of Congo basin (Equateur Congo district).
Mr. Henri Jacobs contributed to the company the plans, works, tests and preparatory studies which served as a basis for the constitution of the company and of which those appearing before him stated that they had been made aware, as well as the commercial relations which he had established in the Congo. In consideration for this contribution, he was allocated 80 common shares.
Object
Planting, cultivation, and exploitation of natural products from the Congo. To be able to carry out, within the widest possible limits, all commercial, industrial or financial operations of any kind and to establish for this purpose establishments, factories, headquarters of operations and trading posts both in Europe and in Congo and other countries.
To this end, to make all acquisitions and resales of concessions or movable or immovable property necessary or useful to its trade or industry, or to obtain the enjoyment and operation thereof by way of lease or otherwise. May also create or participate in the creation of companies having, in whole or in part, a purpose like his own, or simply take an interest in them (12-(18/05/1898)-2159).
Changes in capital, event(s), shareholding(s), dividend(s), quotation, etc.
In 1902, the company had its central factoring factory in Mondjo and several others in the Ikelemba basin; in addition, it bought the factoring factory in Irebu, opposite the mouth of the Ubanghi, from an American mission, where it carried out retail trade and operated a hotel business. The cultivation of coffee, cocoa, rubber, tea, and vanilla gave the best hopes (21-(1902 T1)-729/730).
In 1907, it took part in the creation of a Syndicate of Ecuador between the companies exploiting the region of Ikelemba in which the Equatorial Congolese took a 33% stake, this syndicate was dissolved following a loss of 95,000 francs (21-(1908 T1)-1289).
For the first three years, the company distributed a dividend of:
Financial years: 1899 1900 1901
Preferred shares fully paid 25 100 55
Common shares 0 75 30
Dissolution and liquidation
The company was dissolved and put into liquidation on April 26, 1909 (21-(1910 T1)-803). On July 12, 1910, the company in liquidation contributed to the Equatorial Society Lulonga-Ikelemba all the assets including a concession of one thousand hectares in Mondjo, a steamer, dugout canoes, trading posts and plantations, the Irebu trading post was not part of the contribution and was rented for 5,000 francs a year (21-(1911 T1)-989). For this contribution, it received 700 shares from the Equatorial Society Lulonga-Ikelemba.
In the 1912 balance sheet, the shares of Société Equatoriale Lulonga-Ikelemba were no longer shown and a loss of more than 580,000 francs was recorded (21-(1913 T1)-1014).
The liquidation was closed on 3 October 1913 (12-(19/10/1913)-7107).