passwelle:

Bros wey dey shine teeth, God saved you o, Access bank just got suspended, till January.Cos of the rights issue coming up.

nitrogen: Bros wey dey shine teeth, God saved you o, Access bank just got suspended, till January.Cos of the rights issue coming up.

As in hen my brother, as I see 45m units on offer today in pre-market, I bow.

passwelle:
As in hen my brother, as I see 45m units on offer today in pre-market, I bow.

Smart asss.

I remember all those volume correlations on this stock with Wapic. A disconnect happened sometime in late July/early August and Access carried on from there...

Dexterax:

Smart asss.

I remember all those volume correlations on this stock with Wapic. A disconnect happened sometime in late July/early August and Access carried on from there...

Its good to be smart, the guy correct!

The suspension is as a result of insider trading/manipulations done on the share's price by some bad guys in past 10 days and has nothing to do with the rights issue perse. @Passwelle - you kept on monitoring the situation and informing us on this thread.

The practice is unethical, criminal intentions and manipulations that could lead to loss of funds alas INVESTORS. It's synonymous to what OLOLO did for so many banks way back. Cowboys have returned in full force in banking. This is what SANUSI did when he flushed them out (Majority kicked against it) BUT the situation is no more the same with the entrant of this new man @ the Helms of affair in the APEX bank

Aks: The suspension is as a result of insider trading/manipulations done on the share's price by some bad guys in past 10 days and has nothing to do with the rights issue perse. @Passwelle - you kept on monitoring the situation and informing us on this thread.

It is a result of the rights sir.

This is the message from the exchange.

September 15, 2014
The Nigerian Stock Exchange Approves Technical Suspension of the Shares of Access Bank Plc

The Nigerian Stock Exchange has granted anticipatory approval for the shares of Access Bank Plc (“the Bank”) to be placed on Technical Suspension. The approval follows the application made by the Bank to The Nigerian Stock Exchange.

The Bank will hold an Extraordinary General Meeting on Monday, October 13, 2014 to seek its shareholders’ authorization for the Board of Directors to raise additional equity capital in the sum of up to NGN 68 billion by way of a Rights Issue.

The Board believes that the Technical Suspension is in the overall interest of the Bank’s shareholders and will preserve shareholders’ value, on account of the proposed corporate action. The Technical Suspension will be lifted on January 27, 2015 and the normal trading activities will resume on January 28, 2015.

Is this market not a joke?

Aks: The suspension is as a result of insider trading/manipulations done on the share's price by some bad guys in past 10 days and has nothing to do with the rights issue perse. @Passwelle - you kept on monitoring the situation and informing us on this thread.

Sure, dont mind those guys, meanwhile NSE will make it seem as if it isn't about manipulations.

People's cash will be tied down till Janauary? Nawa o!

nitrogen: Its good to be smart, the guy correct!

My Oga, I no dey greedy shikena. The JIJO dey sweet my body small, but 3 strikes was good enough for me.

@ALL: monitoring the activity on Access bank would not have been possible without iTrade. The platform na correct!

omaojo1:
It is a result of the rights sir.
Is this market not a joke?

My Oga, that is the official take. Did Diamond not do rights recently?

omaojo1:

It is a result of the rights sir.

This is the message from the exchange.

September 15, 2014
The Nigerian Stock Exchange Approves Technical Suspension of the Shares of Access Bank Plc

The Nigerian Stock Exchange has granted anticipatory approval for the shares of Access Bank Plc (“the Bank”) to be placed on Technical Suspension. The approval follows the application made by the Bank to The Nigerian Stock Exchange.

The Bank will hold an Extraordinary General Meeting on Monday, October 13, 2014 to seek its shareholders’ authorization for the Board of Directors to raise additional equity capital in the sum of up to NGN 68 billion by way of a Rights Issue.

The Board believes that the Technical Suspension is in the overall interest of the Bank’s shareholders and will preserve shareholders’ value, on account of the proposed corporate action. The Technical Suspension will be lifted on January 27, 2015 and the normal trading activities will resume on January 28, 2015.

Is this market not a joke?

Anticipatory Approval!! what a Joke!!

@Omaojo1 - you no too well that it's coined in an official language But i've de-mystified the reason behind it. This is a right issue that has not been approved by shareholders and the last thing to do is coming first via suspension. You'll see more of these infractions when AIG finally assumed office as NSE president

Aks: @Omaojo1 - you no too well that it's coined in an official language But i've de-mystified the reason behind it. This is a right issue that has not been approved by shareholders and the last thing to do is coming first via suspension. You'll see more of these infractions when AIG finally assumed office as NSE president

is this an infraction

passwelle:
My Oga, that is the official take. Did Diamond not do rights recently?

It is this underground play by some powers that I was trying to point out to the other guy over the weekend and he was arguing amiss. This is daylight robbery to say the least. i hope it does not hold.

I was telling someone on this forum the other day that this market is run by vested interest and it their interest that will always hold. Forget Onyema, Forget Arumah, what you have are not regulators that protect the interest of the unsuspecting investor on the street.

paulcube:

1. I actually read Mercy's take on IEI..... and the advice I gave was it was best to get a contact in CBN to give a true state of affairs. Someone in CBN can easily unmask everything that seems masked. It won't be an official finding though.

2. For the COP deal, due to the various financial engineering involved in the acquisition, I will not doubt it is 50% debt and 50% equity. Nobody can! All I can say is that we know the guys that provided the debt component to the transaction, and the full facts will come out when their audited 2014 results are released or when they come to the market for rights issue. We won't find anything tangible in the audited 2013 result.

3. I agree with you and I am aware that price is not the only component used, but in this instance, I can tell you that Fidelity bid less than Heritage bank.

ihedioramma: IS it most to come to the market?

I don't understand your question..... I don't want to respond wrongly...

Engaging in this monkey biz has gone hi-tec. Companies just implement decisions on behalf of shareholders at will, to the detriment of the investors. SEC, are you there so? Na wa o.

Aks: @Omaojo1 - you no too well that it's coined in an official language But i've de-mystified the reason behind it. This is a right issue that has not been approved by shareholders and the last thing to do is coming first via suspension. You'll see more of these infractions when AIG finally assumed office as NSE president

I was only submitting the official position. And for your info, it not because of any manipulation. There is nothing wrong in closing the price that way. CSL does it for FCMB, we do it for one coy, so go demystify further.

The bottom line is that, these guys will always do what they want. When you say it is manipulation in the price, is it SEC or the NSE that will investigate them? Onyema and Oteh answer sir with pleasure before these guys.

paulcube:

I don't understand your question..... I don't want to respond wrongly...

In your best interest and for the sake of your own togetherness, kindly ignore his comment sir.

Dexterax: It is clear that the next decade will see an increase in the business of financial engineering and the floating of cash shells (in good time, some cash shells will even be listed on the NSE!)

Gird your loins peeps...a storm's coming!

*You may also interpret this to mean an upswing in the number of forward-looking paragraphs*

This poster was referring to things like this. Expect more. Please when is the result of Oando coming out? That is the next in line.

Aks: @Omaojo1 - you no too well that it's coined in an official language But i've de-mystified the reason behind it. This is a right issue that has not been approved by shareholders and the last thing to do is coming first via suspension. You'll see more of these infractions when AIG finally assumed office as NSE president

Bruv you see that highlighted word? Expand your set of meanings of it. Also consider that various members possess various voting rights.

An example:

If oxygen comes out for an approval of a Rights Issue tomorrow and they get "shareholders' approval", how would you interpret this approval and the real source of the approval considering the general public discontent with their methods?

Dexterax:
In your best interest and for the sake of your own togetherness, kindly ignore his comment sir.

@Dexterax@omaojo1 - Bottom line is Due process was not followed

Before investing in Nigerian stocks, person go need to do due diligence on the country first before doing due diligence on the market (NSE) and finally on the stocks in the market

passwelle:
My Oga, that is the official take. Did Diamond not do rights recently?

The know what they are doing. That is why foreign investors will never take us serious.

Dexterax:
Bruv you see that highlighted word? Expand your set of meanings of it. Also consider that various members possess various voting rights.
An example:
If oxygen comes out for an approval of a Rights Issue tomorrow and they get "shareholders' approval", how would you interpret this approval and the real source of the approval considering the general public discontent with their methods?

Was told they've borrowed the proceeds of the rights in advance already. As for the date of the rights, NO RESULT, NO RIGHTS.

Aks: @Dexterax@omaojo1 - Bottom line is Due process was not followed

Yes, but with these guys, any process is due process so long as it doesn't run counter to their interest.

Aks: @Dexterax@omaojo1 - Bottom line is Due process was not followed

I'll stretch that bottomline further bruv:

Consider an unfortunate situation where the umpire in a tennis match has become the biggest fan of one of the tennis players in an ongoing competition and also acts accordingly, producing unfair game characteristics.

omaojo1:
Was told they've borrowed the proceeds of the rights in advance already. As for the date of the rights, NO RESULT, NO RIGHTS.

Hehehe...well I hope their net present value calculations don't misfire.

Elai147: Before investing in Nigerian stocks, person go need to do due diligence on the country first before doing due diligence on the market (NSE) and finally on the stocks in the market

ETI

E be like say all man don confuse self

omaojo1:

It is a result of the rights sir.

This is the message from the exchange.

September 15, 2014
The Nigerian Stock Exchange Approves Technical Suspension of the Shares of Access Bank Plc

The Nigerian Stock Exchange has granted anticipatory approval for the shares of Access Bank Plc (“the Bank”) to be placed on Technical Suspension. The approval follows the application made by the Bank to The Nigerian Stock Exchange.

The Bank will hold an Extraordinary General Meeting on Monday, October 13, 2014 to seek its shareholders’ authorization for the Board of Directors to raise additional equity capital in the sum of up to NGN 68 billion by way of a Rights Issue.

The Board believes that the Technical Suspension is in the overall interest of the Bank’s shareholders and will preserve shareholders’ value, on account of the proposed corporate action. The Technical Suspension will be lifted on January 27, 2015 and the normal trading activities will resume on January 28, 2015.

Is this market not a joke?

I thought the era of TS during funds raising was a thing of the past? There is more to The TS than fund raising. 2007/2008 era is back again?

Offer this & offer that, not for me and my household. Not anymore!

Fool me once, shame on you. Fool me twice ...