Mills55:
What is going on in FBNH? Since last year one is yet to receive the paltry dividend the approved. When other banks are getting ready to pay interim.

They are compounding them.
#joking

emmanuelewumi:



I hope shareholders will reject this and insist on a minimum of N100


Flour Mill is the first company on NGX to attain a revenue of ove N1 Trillion. Unfortunately the net margin is usually lower than 2% and a return on equity of about 5%.

Exactly, ₦100+
Interesting ....First ₦1Trillion Revenue company
Then poor yield as dividend Y-0-Y.

I believe they still constitute majority of the Minority holders.

Agbalowomeri:
MPR to 27.25
CRR to 50%

Banks over to you

https://www.thecable.ng/cbn-to-supply-n1-4trn-to-increase-liquidity-in-banks-says-cardoso/amp/

How person wan take balance this two news released in 24hrs?

The more I look, the less I see

Agbalowomeri:


Person rent part of his house give. He turned around and says he is not doing again. Wetin Una still dey wait for bayi. As long as he has 51% of the shares, Una no get say abi are you a chosen?😂

Lol..
How did PZ minority holders achieve their wants?

They didn't eventually buyout minority n delisted as they had wanted.

KarlTom:
Sadly this was all premeditated...

The last throw of the dice rests with the 'authentic holders' and I sincerely hope they will turn up and outrightly reject this scheme.

Going by SEC rules, ₦70 is a generous buyout (highest CP in last 6months was ₦46) but faithful shareholders deserve more.

Sadly,
I believe aside being majority Shareholders, and complying with the 20% free float, I assume FloorMill indirectly controls 80-90% of the free float, given the rigidity of the share price and less liquidity.

The "Authentic Shareholders" as you stated will be far less in number with less voting power if any.
(my opinion, not a fact)

And sadly you are right, ₦70 buyout price will appear generous given the historic 6months price.

megawealth01:


Na 70 they go pay gaskia

Shareholders association for NAIJA na cruise

Bitter truth..

Streetinvestor2:
The corruption in this country is taking different level.People even lucky see #70. How about me that got tired of holding for many yrs and complaining and decided to sell at #35or less if I am not wrong. The management of that company are like International breweries. they are cooperate thieves .It is entities like this that are destroying nse image

Companies are learning exit strategies from one another. when balance sheets and earnings are set, then they exit for themselves..

yMcy56:

Very ridiculous amount for a whole Flour Mills!

Only if them get PZ kind of shareholders for the AGM.

Mpeace:
Have they disclosed the amount to be paid to each shareholder? I don't think the scheme document has been sent. The might pay higher than 70

@Sunrisepebble was right and spot on.. and we sincerely thank him/her for the insider insights.

Read line 3 of the Court Ordered Meeting below..
₦70 buyout price

yMcy56:
FLOUR MILLS

https://doclib.ngxgroup.com/Financial_NewsDocs/42176_FLOUR_MILLS_OF_NIGERIA_PLC-_NOTICES_OF_COURT_ORDER_MEETING_(COM)_-__COURT_ORDER_MEETING_(COM)_SEPTEMBER_2024.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/FMN_-_PRESS_RELEASE_ON_SCHEME_OF_ARRANGEMENT.pdf

After staying Static last year's between at 30-35 during the Great Bull run of 2023.

Now Managing just only 60-70% wrt inflation and buyout info, suddenly wants to delist at ₦70..

Flourmill has been grossly undervalued in the stock market cuz of their low dividend payout rate.

Now na to disappear at 70?..
They are bigger than this, even with the OS

Verdict: Unfair

KarlTom:
CAVERTON

https://doclib.ngxgroup.com/Financial_NewsDocs/CAVERTON_DISCREPANCIES_IN_UNAUDITED_FINANCIAL_STATEMENT.pdf

I guess this was the reason for today's dip

Na wa o..
One of the rare reasons Audited statements should be more considered..
But no one will want to miss out on key entry price why waiting for audited..
Cuz 9 times out of 10, companies audited results are always in harmony with unaudited.

Buh who be carverton interal auditors sef?

flyinnizam:
It's been long I posted things like this but i am partially back. If you are an animal right activist and you eat cow, goat, fish etc please rest o.

As an animal activist, what do you eat then?
At least varieties of protein?

zendi:

Follow follow is allowed.

How many acquisitions eterna do wey 'im dey run follow Oando upandan?

I think Eterna's rise was more in anticipation of lifting petrol from DR that was previously expected in August. Having obtained Major distributorship licence from the Refinery early this yr in January..

Until now that NNPC has just become the sole off takers..


Well let's see what happens in the market this last quarter of the yr.

Probably reason for UBA's uptick alongside positive result expectation.
https://www.thisdaylive.com/index.php/2024/09/23/elumelu-heads-fg-disaster-relief-fund/

Omooloriredade:


You could take the above to the bank until the meeting at the farm happened. Apparently, CBO still has more shares to offload but rather than let it drag on for too long (tight band above N3), arranged an investor presentation with stockbrokers only. How is that even allowed? Next trading day after meeting, SP starts to climb with huge volumes. It's not dumping. Ellah Lakes is attempting to meet free float requirement by distributing its shares. CBO and Brokers will determine how the stock trades until there is significant news. They believe it's cheap due to its higher Net Asset Value per share. Na them sabi.

Roll call of attendees below. Did anyone's face look familiar? Would someone be kind enough to find out the Private placement price please?

I know Ellah Lakes directors opted for a portion of their salary in shares. Bullish!!! Quite a positive except that Mr Chuka is on a very FAT salary for a company with little to no revenue. Anyway, the future appears bright so can be overlooked.

Disclaimer - Not a buy or sell recommendation.

Insights..Welldone Sir

KarlTom:
The bolded is a requirement of International Commercial Banking License (not expressly Tier 1)...

Well, you guyz may be right..

I just thought going international n meeting up the Capital base is a strong enough reason for a shift..

I guess to be in the cadre of Too-Big-To-Fail, , their books, deposits, growth and future expansions will have to justify it in the long term, just as Access did..

Ginalex:
Fidelity and FCMB are tier 2

Well, I think it depends on the Metric used..
So we can be both right and wrong..

They both have the highest type of Banking license issued by CBN.(international Licence)

Their Cash Adequacy Ratio and other requirements, CRR are same standard as the FUGAZ..

they are both required to meet up with the ₦500bn Capital base requirements as the Tier 1.

They are also subjected to International Monetary rules of CBN as per having a foreign base.

But in terms of performance, Retained Earnings, Systemic importance for the Nation, Capacity of Loan disbursement to Big manufacturers, No of foreign presence n remittances, customer base, brand, etc..
They are probably in Tier 2 as you stated.

jonnysessy:


What qualifies a bank to enter Tier -1 status ?

Foreign presence I suppose.

Fidelity recently acquired the UK branch of Union Bank just last year.
FUGAZ + Fidelity and FCMB are Tier 1..
(I stand to be corrected though)

ndept:
You are hereby given a fine of 1,000 units of Seplat for negligence of duty

..And the dividend in Naira taken away from him ASAP to be replaced with the Dollar Equivalent ;
What nonsense!

Month/Week of the Fsss
#observation.
Firstbank✔️
FCMB✔️
Fidelity✔️
Flourmill✔️
Fidson✔️
FTNCocoa ❌

Again, just an observation

BabsO2:
Though UBA is currently more underpriced than Zenith or GTCO, its CBN mandated capital raise need to be priced closer to Zenith for several reasons.

In 2007 the public offer prices for the banks were
UBA N35.00 (rights was N34)
Zenith N38.90 (rights was N36.90)
FB N33.00 (rights was N31)
ACCESS N14.90
Fidelity N8:00
FCMB N14:00

2023 FY and 2024Q1 Book Values per share
UBA N57.37 & N73.81
Zenith N73.95 & N90.61
FB N47.88 & N52.53
ACCESS N42.34 & N **(looks lower than many quote)
Fidelity N13.67 & N14.6
FCMB N19.4 & N 22.62

Looking at earnings per share UBA, Access, Zenith and GTCO are competing strongly with Zenith in the lead and UBA attempting to drag position with GTCO. But I guess investors will place premiums on consistent dividend payout and growth. Zenith and GTCO are leading here.

Thanks for the blast from the past

Harvestock01:


Dreams do come true.

Some Dreams

megawealth01:
Wordless statement

Lol... On point...QED.

bovali:

Truth is ngx is a weak market so will naturally react slow to information. I use a combination of TA and FA. I don’t look at fundamentals until I see good Technicals in play to support it.

I think NGX reacts to News Informations quickly (SA).
But probably slow in Academic info in financials(FA) as you stated.

@Bovali...Gracias

KarlTom:
Can't recall who complained about this earlier, but the Corporate Disclosure is back

https://ngxgroup.com/exchange/data/corporate-disclosures/

I think he was referring to dividend disclosure or sth in that line.

Afonja44:
There is no human being after Jesus Christ dead or alive greater than Michael Jackson.

Many non-footballing nations don't know CR7.
If MJ was here his social media followership would be roughly 5 billion.

Fixed!!
5billion is an understatement sef.
Even Animals will be following him.

Kojochyke:
Sorry my child, before handsets came to Nigeria, every home knew MJ. Without social media, every kid tried dancing like him. We had his cassettes, even when there was no CDs.
Social media helped the likes of Ronaldo, thats why they brag with the followers. Mark you, one person can even have up to 5 social media accounts, and all of them can be following the same celebrity. But they will all count as 5 different followers.

For example, fewer people knew abt football icons like Platini, Haaland's dad, etc, until this current age of internet where they can easily be checked out and followed.

MJ was on virtually every lip and home without internet.

Kapish?

Fixed

arantess:

As in eh

I remember people fainting and some fans dying literally for MJ.
Ambulances dey rush people go hospital because MJ scream on top stage.

No internet then oo

Chaiii

Fixed!..
Songs melts the heart
Soccer is more or less physical.

Mind always rules the Body.

Libkid:
It's obvious you are delirious when I saw your epistle comparing MJ with Celine Dion and Westlife. Before his death, MJ had fans all over world and guess what there was no internet. My grand ma God bless her memory, knew MJ. She died at the age of 99. Ever seen anyone comparing Ronaldo, Maradona and Pele with MJ in terms of popularity, cos it's insane.

Fixed

arantess:

As in eh

I remember people fainting and some fans dying literally for MJ.
Ambulances dey rush people go hospital because MJ scream on top stage.

No internet then oo

Chaiii

Fixed!

Itulah:


Here's your answer.
Did you see CR7 name on the list?


Top 10 also attached

Fixed!!
Even GenZ AI know the fact😁