Update: 2020-08-17 14:03
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SOCIETE ISANGI S.A.

Constitution

The Isangi Company was incorporated on June 17, 1899 with a capital of one million francs divided into 2,000 preferred shares of 500 francs each; in addition, 2,000 ordinary shares without designation of value were created. The registered office was established in Antwerp

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Capital subscription 

Of the 2,000 preference shares, 1,200 shares were allocated as consideration for the contribution described below, the remaining 800 shares were subscribed for by: 

Messrs. Adolphe Baron de Stein, 480 shares; Edouard Bunge, 60 shares; Alexis Mols, 60 shares; Adolphe Baron de Stein for a group and for himself, 60 shares; Fuchs and De Decker, 20 shares; Gaston Outshoorn, 20 shares; Emile Cahen, 20 shares; Tony De Bruyn, 20 shares; Pauline Stein, 20 shares; Jules Thiriar, 10 shares; Henri Nauwelaerts, 10 shares; Joseph Nauwelaerts, 10 shares; Alfred Madoux, 10 shares. 
Each subscriber paid one tenth of the amount of his or her subscription.

Contribution(s) 

The S.A. d'Agriculture et de Plantations au Congo contributed to the Société Isangi 20,000 hectares that it owned in Haut-Congo (Aruwimi district), the posts that it created, the land on which it received permission to harvest rubber and collect ivory, and the goods imported into the Congo that were in its various establishments. 
In consideration for these contributions, S.A. d'Agriculture et de Plantations au Congo was granted 1,200 fully paid up preferred shares and 600 common shares.
Mr. Adolphe Baron de Stein received 1,000 common shares not intended to be shared among the subscribers of preferred shares, who could dispose of them according to special agreements.

First Board of Directors 

For the first time the Board of Directors was set at 6 members: 

Adolphe Baron de Stein, Edouard Bunge, Adolphe Franck, Alexis Mols, Jules Ancion, Sigmund Sinauer.
Commissioners: Messrs Gustave Buysschaert, Léon Schellekens.

Object 

To carry out, within the widest possible limits, all commercial operations of imports and exports, industrial mining, forestry, agricultural and other industrial operations in Africa.
To have the right to make, for this purpose, all acquisitions, and resales of concessions or movable or immovable property, useful or necessary for its trade or industry.
To have the power, under the approval of the General Assembly, to merge with other companies.
Create or participate in the creation of companies having all or part of the same corporate purpose. (12-(06/07/1899)-3170).

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

From July 1904 until the end of 1926, the Isangi estate was exploited by the company ABIR in return for a royalty of 5% of all ABIR's income. In addition to this fee, ABIR paid 22 annual instalments of 13,000 francs for the use of the buildings (21-(1912 T1) -1482/83). 

In 1911, following the merger of ABIR and Antwerp, the Isangi Company received 1,000 shares out of the 17,000 shares representing the capital of the Compagnie du Congo Belge. The Isangi Company also received a sum of 143,000 francs for discounting the annual instalments of 13,000 francs owed to it by ABIR.

From then on, the activity of the Isangi Company was limited to the management of its portfolio. 

On 9 December of the same year, the capital was reduced to 700,000 francs by reducing the nominal value of the 800 preference shares originally subscribed for cash, and by reimbursing 150 francs to the 1,200 fully paid-up preference shares belonging to the Société d'Agriculture et de Plantations au Congo. The nominal value of the preference shares was reduced to 350 francs. 

On 22 July 1918, the Isangi Company decided to reduce the capital to 200,000 francs by giving 500 shares of the Compagnie du Congo Belge to the 1,200 fully paid-up preference shares held by the Société d'Agriculture et de Plantations au Congo, the nominal value of the shares was reduced to 100 francs; on the same day the capital was reduced to 50,000 francs by distributing the remaining 500 shares of the Compagnie du Congo Belge to the 2,000 preference shares, the distribution was made on the basis of one Compagnie du Congo Belge share for every 4 preference shares. The nominal value of the preference shares, after this last distribution, was fixed at 25 francs (21-(1920 T1) -1380). 

In 1926, the Isangi Company, concerned about the end of the concession, considered that it was more interesting to negotiate the transfer of this property (21-(1927 T1) -1080). In the same year, the concession of the Isangi Company was transferred to the Compagnie du Lomami et du Lualaba (21-(1930 T2) -1228).

Dividends

Exercices clos en

Actions priv.FB

 Actions ord.FB

1900

55

30

1901

25

0

1902

40

15

1903

50

25

1904

50

 25

1905

37,50

12,50

1906 à 09

0

0

1910

5

0

Dissolution and liquidation 

On May 30, 1927, the E.G.A. decided to dissolve the company and put it into liquidation. (12-(16/06/1927) -8299); the liquidation was completed on 16 September 1927 (12-(05/10/1927) -11891).
It was allocated as a single distribution: 25 francs to the preference shares as a capital repayment, 41.50 francs as a dividend and 41.50 francs as a dividend to the ordinary shares (21-(1927 T3) -1029).

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