4dchairman:
''Recent events have made it clear that a false and defamatory statement posted on Twitter or in a blog is not immune from legal action. If a tweet or blog post is defamatory, untrue and cannot be defended, the maker of the statement can be liable for defamation and for substantial damages. ''- See more at: http://kernelmag.dailydot.com/comment/opinion/3656/twitter-and-libel-a-legal-primer/#sthash.lCu7Sf8C.dpuf

I've read this unfortunate response.

1. You cannot bring a case against Wale based on American law since Nigeria does not operate under such American premises and the company in question is not domiciled in the United States.

2. You're yet to provide evidence that Wale physically typed the alleged tweet or actually instructed his social media rep to do so.

3. By evoking the necessary legal instruments, Sept 1 can be interpreted in a thousand and one ways. As I've typed before, no year was stated, so it could easily be considered a forward-looking statement. Infact, can you confirm that Sept 1 means September 1?

Who gets into a contract which states "Sept 1" as a date for the performance of anything?

Your emotions are written all over this and it's sure going to take more than your personal interests for any judge under any jurisdiction to even entertain your matter.

4dchairman:
Still awaiting the approval of NSE.

Thank you Chairman. I just want to be alert make the thing no pass me by.

Good day my senior investors, I don't know if anyone is seeing what I am seeing in transcorp. Elumelu wants to make serious money from transcorp by trying to go 4 another IPO for transcorp hotel and list it as a different entity

Ugoobuz: Good day my senior investors, I don't know if anyone is seeing what I am seeing in transcorp. Elumelu wants to make serious money from transcorp by trying to go 4 another IPO for transcorp hotel and list it as a different entity

Good day sir.

No we don't see this sir. Please explain further...

just like he did in ubacapital and afriprudential which were subsidiaries of uba bank

sir I believe this will explain better!


owners of the prestigious Transcorp Hiltons Hotel, Abuja, plans to float an initial
public offering of N8 billion and subsequently list its shares as a separate entity on the Nigerian Stock
Exchange (NSE), according to sources in the know of the plan.
Transcorp Hotels Plc is a subsidiary of Transnational Corporation of Nigeria (Transcorp) Plc, a quoted
conglomerate with interests in agriculture, hotel and tourism, oil and gas and power. Transcorp’s share price
rose by 5.41 per cent on Monday at the NSE to close at N6.43 per share.
According to the plan, Transcorp Hotels would issue 800 million ordinary shares of 50 kobo each at a price
of N10 per share, pricing its IPO higher than the market value of its parent company.
Transcorp holds 88 per cent majority equity stake in Transcorp Hotels through Capital Leisure and
Hospitality Limited. The remaining 12 per cent is owned by the Federal Government of Nigeria.
The net proceeds of the IPO, according to sources, would be used to finance the expansion plan of the hotel
and tourism company as well as support its balance sheet.
Transcorp had recently signed a new deal with Hilton Worldwide to build a new premier hotel in the up-
market suburb of Ikoyi, Lagos.
The proposed Transcorp Hilton Lagos, a full service, 350-room hotel on Glover Road, Ikoyi, will be the Hilton
Group’s second hotel in Nigeria by Transcorp, following the award-winning Transcorp Hilton Hotel Abuja,
which is one of the leaders in Hilton’s global network. The new hotel will be jointly owned by Transnational
Hotels and Tourism Services Ltd, a hospitality subsidiary of Transcorp and Tony Elumelu’s Heirs Holdings.
Heirs Holdings holds the majority stake in Transcorp.
Speaking at the official signing of the management contract at Heirs Holdings’ office in Lagos, Chairman,
Heirs Holdings, Mr. Tony Elumelu said the agreement marked another milestone in the long-standing
partnership with Hilton Worldwide.
According to him, the Ikoyi development, along with the extensive refurbishment and upgrade of the group’s
existing hotels in Calabar and Abuja, demonstrates Heirs Holdings’ commitment to driving growth in real
estate and hospitality, a strategic sector for Nigeria’s economic development.
“The new Transcorp Hilton Lagos will not only present an additional world-class venue for the increasing
numbers of investors, businessmen and tourists to Nigeria, but is creating much-needed jobs for our
citizens, enabling their social and economic development,” Elumelu said.
Transcorp plans to draw on the growing profiles of its subsidiaries to consolidate its improving
fundamentals. Interim report and accounts of Transcorp for the six-month period ended June 30, 2014 had
shown that turnover rose by 177 per cent while group operating profit and pre-tax profit jumped by 145 per
cent and 122 per cent respectively.
The report showed that turnover doubled to N21.2 billion in June 2014 as against N7.67 billion recorded in
comparable period of 2013. Gross profit rose from N5.99 billion in first half 2013 to N14.96 billion in first half
2014. Operating profit for half year 2014 was N9.75 billion as against N3.99 billion in comparable period of
2013. Group profit before tax doubled to N8.02 billion in 2014 compared with N3.61 billion in corresponding
period of 2013. After taxes, net profit rose from N2.48 billion in 2013 to N6.89 billion in 2014.
The improved bottom-line underlined stronger returns with earnings per share rising from 5.53 kobo to 11.30
kobo. Transcorp paid a dividend per share of 5.0 kobo for the 2013 business year, its first dividend since
inception.
Elumelu had noted that the principal cause of asset growth for the group and company was its acquisition of
the Ugheli Power Plant, Nigeria’s largest generating facility and where its influence has already seen a
doubling of capacity.
“I believe that we will build on the solid foundation laid over the last couple of years to begin an era of
steady and increasing dividend payment to our shareholders,” Elumelu said.
He noted that following Transcorp’s takeover of the Ugheli power plant, power output has more than doubled
at the plant from 160 megawatts on handover date to 360 megawatts currently pointing out that the goal of
the new board is to increase output at the plant to 700 megawatts by December 2014 by embarking on an
extensive rehabilitation programme.

Ugoobuz: just like he did in ubacapital and afriprudential which were subsidiaries of uba bank

There is big difference between a spin off where current investors get shares and an IPO..

With this IPO, current transcorp shareholders can only hope the monies are spent well ... it might be frittered on 'bogus' projects/ambition

Ugoobuz: just like he did in ubacapital and afriprudential which were subsidiaries of uba bank

Pls explain further..something must be fishy.

Dragonking:

Pls explain further..something must be fishy.

I agree. Besides, Tony Elumelu shouldn't be allowed to just make money off the naive investing public.

@Ugoobuz, how do we proceed to stop him?

My Oga, I might b wrong in my thinking... this new shares of transcorp hotel is a different entity that will b listed differently when completed. my worry is the #10 price wen the parent entity that has 88 percent equity sells below #7, let it not b the case of caverton that did IPO in 2008 for #8 and can't get to that price after listing and we should also not forget how long it took transcorp the parent company to trade above its IPO price.

Dexterax:

I've read this unfortunate response.

1. You cannot bring a case against Wale based on American law since Nigeria does not operate under such American premises and the company in question is not domiciled in the United States.

2. You're yet to provide evidence that Wale physically typed the alleged tweet or actually instructed his social media rep to do so.

3. By evoking the necessary legal instruments, Sept 1 can be interpreted in a thousand and one ways. As I've typed before, no year was stated, so it could easily be considered a forward-looking statement. Infact, can you confirm that Sept 1 means September 1?

Who gets into a contract which states "Sept 1" as a date for the performance of anything?

Your emotions are written all over this and it's sure going to take more than your personal interests for any judge under any jurisdiction to even entertain your matter.

"Any person who knowingly accesses any computer or network and inputs, alters, deletes or suppresses
any data resulting in inauthentic data with the intention that such inauthentic data will be considered or
acted upon as if it were authentic or genuine, regardless of whether or not such data is directly readable
or intelligible, commits an offence and is liable on conviction to imprisonment for a term of not less than three years or to a fine of not less than N7,000,000.00 or to both fine and imprisonment." CYBERCRIME LAW,SECTION 1,PART 3,PARAGRAPH 11
Definition of data-things known or assumed as facts, making the basis of reasoning or calculation.
Concerning the bolded,you can pick a subtle word.

Ugoobuz: My Oga, I might b wrong in my thinking... this new shares of transcorp hotel is a different entity that will b listed differently when completed. my worry is the #10 price wen the parent entity that has 88 percent equity sells below #7, let it not b the case of caverton that did IPO in 2008 for #8 and can't get to that price after listing and we should also not forget how long it took transcorp the parent company to trade above its IPO price.

Sir the Transcorp IPO was at #7.50, It hasnt traded above it in a long while.
As Dexterax pointed out, what is the way forward to stop him?

4dchairman:
"Any person who knowingly accesses any computer or network and inputs, alters, deletes or suppresses
any data resulting in inauthentic data with the intention that such inauthentic data will be considered or
acted upon as if it were authentic or genuine, regardless of whether or not such data is directly readable
or intelligible, commits an offence and is liable on conviction to imprisonment for a term of not less than three years or to a fine of not less than N7,000,000.00 or to both fine and imprisonment." CYBERCRIME LAW,SECTION 1,PART 3,PARAGRAPH 11
Definition of data-things known or assumed as facts, making the basis of reasoning or calculation.
Concerning the bolded,you can pick a subtle word.

Good.

Therefore, the onus is on you, Mr. Chairman, to determine who this PERSON is and provide sufficient and conclusive evidence backing your claims. If you cannot do this, kindly desist from building castles in Spain.

Ugoobuz: My Oga, I might b wrong in my thinking... this new shares of transcorp hotel is a different entity that will b listed differently when completed. my worry is the #10 price wen the parent entity that has 88 percent equity sells below #7, let it not b the case of caverton that did IPO in 2008 for #8 and can't get to that price after listing and we should also not forget how long it took transcorp the parent company to trade above its IPO price.

If you believe the IPO price is overvalued you can buy post listing. Not all IPO performed badly as in the case of Seplat.

passwelle:
Sir the Transcorp IPO was at #7.50, It hasnt traded above it in a long while.
As Dexterax pointed out, what is the way forward to stop him?

Or since we may not be able to stop him.. How do we profit from this Monkey Hunting??

Ugoobuz: My Oga, I might b wrong in my thinking... this new shares of transcorp hotel is a different entity that will b listed differently when completed. my worry is the #10 price wen the parent entity that has 88 percent equity sells below #7, let it not b the case of caverton that did IPO in 2008 for #8 and can't get to that price after listing and we should also not forget how long it took transcorp the parent company to trade above its IPO price.

In the present arrangement, shareholders of Transcorp plc have no business with monitoring the price of Transcorp Hotels plc after it has been successfully listed. Their concern should be the sound management of this subsidiary such that it translates to incease in profit margins of the parent company. Those planning to buy the IPO will be saddled with the task of keeping vigil for the price on the NSE.

In other news,Transcorp is following on the heels of Oando- a very complex company structure.

Dexterax:

Good.

Therefore, the onus is on you, Mr. Chairman, to determine who this PERSON is and provide sufficient and conclusive evidence backing your claims. If you cannot do this, kindly desist from building castles in Spain.

Still calculating the cost implication of the legal war vis a vis more acquisition of more shares of "RANCH plc"

@dexterax honestly we can't stop him sir. I am only trying to clear my doubts here. I am thinking that they are using this pet company to further push the price of transcorp above 10 naira as he(Elumelu) said. thanks bro for reminding me the IPO price of this coy.oneluv!

Ugoobuz: @dexterax honestly we can't stop him sir. I am only trying to clear my doubts here. I am thinking that they are using this pet company to further push the price of transcorp above 10 naira as he(Elumelu) said. thanks bro for reminding me the IPO price of this coy.oneluv!

Stop fire! Na to look at the whole picture see how person go fit profit from am. Make I just dey observe first.

Mpeace: I don't know whats pushing me, but I think its time for me to double my stake in Oando. Not just for the awaited result, but for the immediate subsequent one(ie 3rd qtr)

4dchairman: Still calculating the cost implication of the legal war vis a vis more acquisition of more shares of "RANCH plc"

Keep in mind the future dilution of your holdings Sirs. Everyone cites the astronomical rise in share price of FO after it found its footing and predict same for Oxygen. Others even compare it to Seplat on the basis of similar volume of produced hydrocarbons. Well, Seplat has OS of just over 500m while FO has OS of just over 1b. Yours truly already has OS of 8b, with more to come shortly.

passwelle:

Keep in mind the future dilution of your holdings Sirs. Everyone cites the astronomical rise in share price of FO after it found its footing and predict same for Oxygen. Others even compare it to Seplat on the basis of similar volume of produced hydrocarbons. Well, Seplat has OS of just over 500m while FO has OS of just over 1b. Yours truly already has OS of 8b, with more to come shortly.

From the above facts, my conservative valuation of OANDO is 40 NGN,so the stock is still undervalued.

kotlass:

In the present arrangement, shareholders of Transcorp plc have no business with monitoring the price of Transcorp Hotels plc after it has been successfully listed. Their concern should be the sound management of this subsidiary such that it translates to incease in profit margins of the parent company. Those planning to buy the IPO will be saddled with the task of keeping vigil for the price on the NSE.

In other news,Transcorp is following on the heels of Oando- a very complex company structure.

we already know that transcorp hotel is coming to float an ipo of 800 000 000 unit of it shares, is there anyone with the idea of what the os will be? And what fraction of it belongs to heirs holdings and what amount is heirs contributing separately?

currentprice:

am yet to see any comment by current price. only shining double 32.

chykeking: Bsntl. Oando right issue @#15. What's d implication?

were did you get the news from?. myjoy08 and born 2be rich, how true is this?

ihedioramma: were did you get the news from?. myjoy08 and born 2be rich, how true is this?

Sir, i personally don't know where the issue of right is coming from talking of the price @ 15 Naira. I will assume is a self-wishes. Though, as far as i'm a little privilege to ve some information, Oando might come for right issue but NOT ANYTIME SOON!!!

myjoy08:

Sir, i personally don't know where the issue of right is coming from talking of the price @ 15 Naira. I will assume is a self-wishes. Though, as far as i'm a little privilege to ve some information, Oando might come for right issue but NOT ANYTIME SOON!!!

OK, may be he or she is talking about fo . how is the market going now?

myjoy08:

Sir, i personally don't know where the issue of right is coming from talking of the price @ 15 Naira. I will assume is a self-wishes. Though, as far as i'm a little privilege to ve some information, Oando might come for right issue but NOT ANYTIME SOON!!!

OK, may be he or she is talking about fort oil . how is the market going now?

paulcube:
There is big difference between a spin off where current investors get shares and an IPO..
With this IPO, current transcorp shareholders can only hope the monies are spent well ... it might be frittered on 'bogus' projects/ambition

I concur with your point BUT i still think this kind of arrangement should not hold waters in our clime. It's complicated and can be said to be Carved out/Divestiture strategy. The complication arise from the fact that the HOTEL still belong to the Parent company (Transcorp) and i can't rationalise the floating of IPO @ N10 while parent company is trading @ N6+. Nothing wey persin no go c for this NSE market via the Cowboys.

When the board of directors decides to divest a unit, it is generally because of pressure from stock market analysts. A company may unbundle a high-value unit, when it wishes to “cash in” some capital but still retain links with the unit. This typically happens when the parent’s performance is declining, its leverage is high and a need for external financing arises. In such a case, the parent tends to sell the unit via a public offering, but remains in possession of a substantial part of the equity of the divested (carved-out) company - FT.COM

Just passing by

Mercy u been see that MOJO?

Agbalowomeri: Just passing by

Mercy u been see that MOJO?

who liked this post?

na only d person see am.