MTN completes final payment to NCC!!!


http://www.nse.com.ng/Financial_NewsDocs/26285_MTN_NIGERIA_COMMUNICATIONS_PLC_CORPORATE_ACTIONS_MAY_2019.pdf

calvaryholdings:
Greetings everyone. I've been following this thread for years now, and finally decided to be a member. Just wanted to say a big thank you to everyone here. I've done quite well just following some tips on this thread. You guys are the best. I hope you guys are buying UBA and Zenith Bank at current prices.

I have been here for over a year.
Yet still, I'm in observation mode..
I'm afraid.

Chibuking81:
That's if EFCC fail to do their work, election has finish, next level has commence, this time he must not go free, watch for news of EFCC visit to his house on or before Monday.

Okay sir.

SEC should come up with a new rule, mandating the listed companies to pay 50% and above of their EPs. Company will keep on accumulating retain earning, and after some time they will come up with bad news and the whole earning will disappear. They will borrow company money to themselves using another name, only to come up and write it off as bad debt. It's what a man eat that he carried. This nonsense of paying below 15% from total earning should stop. Any company that earn a little should report what they earn.

Bbbwings:
I have been here for over a year. Yet still, I'm in observation mode.. I'm afraid.

Why if I may ask?

Mcy56:

Now you don dey fear, no full bid again?

In this Buharinomics they is money one cannot afford to loose else Wale can send one to the hospital with serious health complications that medicine cannot solve. let me just be watching it's safer!

stcool:


With Tinubu out of the way... Alot of people would want in now. I cannot assume the shares would be readily available on Monday!

This is a goodnews and something is sure to happen to Oando share price on Monday.

You don't know what you are talking about.The company that is almost bankrupt.Almost all the subsidiaries have been sold.

With the way things are going now,the stock may be placed on technical suspension on Monday.Secondly,this stock will reconstruct their 12B shares as to enable them raise another money to move forward.You should start now to think about this heavy tragedy befalling on shareholders.

Chibuking81:
SEC should come up with a new rule, mandating the listed companies to pay 50% and above of their EPs. Company will keep on accumulating retain earning, and after some time they will come up with bad news and the whole earning will disappear. They will borrow company money to themselves using another name, only to come up and write it off as bad debt. It's what a man eat that he carried. This nonsense of paying below 15% from total earning should stop. Any company that earn a little should report what they earn.

How can when Wale alone pockets 500m as a salary plus the Bleep they are fucking the company on top of shareholders.

chillykelly86:


Note that Q1 PAT is after payment of a fine of 55b(31st March. So, by flat extrapolation, Q2 PAT(after this month end fine) will be 48b, Q3 and Q4 103b each. FY PAT - 302b. Without any fine, full year PAT should be 412b, with EPS of about #20.

I want to sincerely apologize for this erroneous analysis based on very scanty information available at the time and especially so because it sounded authoritative. I categorically state that I would never and never meant to consciously deceive anyone with false information.

If anyone acted based on this information, I am sincerely sorry.

https://www.premiumtimesng.com/business/business-news/332795-investors-react-to-tinubus-suspension-by-sec.html

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Investors react to Tinubu’s suspension by SEC


Jubril Adewale Tinubu [Photo Credit: THISDAYLIVE]
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May 31, 2019Agency Report

Operators on the nation’s bourse on Friday said that suspension of two directors of Oando Plc from public companies for five years would bring sanity to the capital market.

They spoke with the News Agency of Nigeria (NAN) in Lagos in reaction to the outcome of the Securities and Exchange Commission (SEC) forensic audit of Oando Plc.

NAN reports that SEC on Friday barred Wale Tinubu, the company’s Group Chief Executive Officer, and Omamofe Boyo, the Deputy Group Chief Executive Officer, from being directors of a public company for five years.


The commission conveyed the decision in a statement signed by Efe Ebelo, its Head of Corporate Communications,

NAN reports that SEC in March 2018 announced the commencement of audit of Oando Plc’s account.

It said it had appointed Deloite Nigeria to proceed with the forensic audit.

The commission in the statement also directed resignation of the affected board members, and called on the company to convene an extra-ordinary general meeting on or before July 1, to appoint new directors.

Commenting on the development, Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., said that the suspension would send a signal to other managing directors and executives in the market.

Mr Omordion said that the outcome of the forensic audit showed that SEC could bite and not only bark.

He said that the investing public had been calling for change in the company’s management for a long time.

According to Mr Omordion, there will be santiy in the company when the new management takes over in July.

“Other companies and their directors will sit up, seeing how Oando management and its directors ended up.

“SEC decision will further boost corporate governance and transparency in qouted companies and increase investors’ confidence,” Mr Omordion told NAN.

Shehu Mikail, National President, Constance Shareholders Association of Nigeria, also expressed satisfaction at the commission’s decision.

Mr Mikali said that the ban would instill transparency and corporate governance in the nation’s capital market.

The shareholder activist said that the outcome showed that nobody was above the law in the market.

He said that some companies had collapsed due to lack of transparency and corporate governance.

(NAN)

Chibuking81:
https://nairametrics.com/2016/06/07/oando-gets-n94-6billion-restructuring-loan-from-10-nigerian-banks/

https://nairametrics.com/2016/04/04/fidelity-bank-confirms-its-113-million-to-oando-is-about-to-go-bad/

Business NewsCompanies
These 10 Nigerian Banks Just Bailed Out Oando
By Nairametrics - June 7, 2016


Nigeria’s Oil and Gas giant, Oando has announced that it has secured a N94.6 billion ($475 mln) restructuring loan facility from 10 domestic banks as part of its plans to restructure its finances and return to profitability this year. This is a huge deal for a company that reported losses of over N180 billion in 2014 and another N45.6 billion in the first 9 months of 2015.

The banks that have decided to take another huge bet on Oando are as follows; Access Bank, Diamond Bank, Ecobank, FCMB, Fidelity Bank, Stanbic IBTC Bank, UBA , Union Bank and Zenith Bank.

The facility is said to be a five-year term loan, paying Nigerian interbank rate plus 2 percentage points with a three-year moratorium on principal. This basically means Oando will not be paying principal for three years and will only service interests.

Here is the press release issued by the bank

Hope this ten banks are save?

Ordinary N94b and you are asking hope Nigerian banks are safe?

For many years running, Nigerian banks had been getting paid, restructuring the loans for them, taking impairments on their loan book as NPL, even calling on CBN to intervene at a point which caused OANDO to sell some assets.

You can't owe bank and they will not get their money back. Banks must have tied the loans to a physical assets.

By the way, were not the person that alerted the members here that OANDO seem to have finished paying their debts to Nigerian banks and if it was cleared to buy the stock?

Deepsuk, oya see one of them here.

chillykelly86:


I want to sincerely apologize for this erroneous analysis based on very scanty information available at the time and especially so because it sounded authoritative. I categorically state that I would never and never meant to consciously deceive anyone with false information.

If anyone acted based on this information, I am sincerely sorry.

I corrected you but you did "I too know". So I left you na. Una eyes don dey clear one by one.

locodemy:


You don't know what you are talking about.The company that is almost bankrupt.Almost all the subsidiaries have been sold.

With the way things are going now,the stock may be placed on technical suspension on Monday.Secondly,this stock will reconstruct their 12B shares as to enable them raise another money to move forward.You should start now to think about this heavy tragedy befalling on shareholders.

They must definitely raise more money via rights

A new management will be constituted to manage the company. I pity the "shellholders".

stcool:


In this Buharinomics they is money one cannot afford to loose else Wale can send one to the hospital with serious health complications that medicine cannot solve. let me just be watching it's safer!

Today FA has won over TA.

Price and volume action isn't all that one needs in the market. FA tells you the health of the company first and foremost. And no matter how tempting the price action gets, strict FA will not go in for it.

And to think that MSCI has Oando in their portfolio says alot about the stock picker.

Chibuking81:
https://nairametrics.com/2016/06/07/oando-gets-n94-6billion-restructuring-loan-from-10-nigerian-banks/

https://nairametrics.com/2016/04/04/fidelity-bank-confirms-its-113-million-to-oando-is-about-to-go-bad/

Business NewsCompanies
These 10 Nigerian Banks Just Bailed Out Oando
By Nairametrics - June 7, 2016


Nigeria’s Oil and Gas giant, Oando has announced that it has secured a N94.6 billion ($475 mln) restructuring loan facility from 10 domestic banks as part of its plans to restructure its finances and return to profitability this year. This is a huge deal for a company that reported losses of over N180 billion in 2014 and another N45.6 billion in the first 9 months of 2015.

The banks that have decided to take another huge bet on Oando are as follows; Access Bank, Diamond Bank, Ecobank, FCMB, Fidelity Bank, Stanbic IBTC Bank, UBA , Union Bank and Zenith Bank.

The facility is said to be a five-year term loan, paying Nigerian interbank rate plus 2 percentage points with a three-year moratorium on principal. This basically means Oando will not be paying principal for three years and will only service interests.

Here is the press release issued by the bank

Hope this ten banks are save?

And GTB wasn't amongst these banks. This shows that GTB has a strong risk department.

RabbiDoracle:


They must definitely raise more money via rights

A new management will be constituted to manage the company. I pity the "shellholders".

And you are still heavy in Oando? If am not mistaken, you are one of their diehard investors.

RabbiDoracle:


Ordinary N94b and you are asking hope Nigerian banks are safe?

For many years running, Nigerian banks had been getting paid, restructuring the loans for them, taking impairments on their loan book as NPL, even calling on CBN to intervene at a point which caused OANDO to sell some assets.

You can't owe bank and they will not get their money back. Banks must have tied the loans to a physical assets.

By the way, were not the person that alerted the members here that OANDO seem to have finished paying their debts to Nigerian banks and if it was cleared to buy the stock?

Deepsuk, oya see one of them here.

RabbiDoracle:


And GTB wasn't amongst these banks. This shows that GTB has a strong risk department.

Since 90 billion is ordinary as you said, the bank that involve were also having strong risk department, because the money is just ordinary as you view it "You can't owe bank and they will not get their money back. Banks must have tied the loans to a physical assets."

Everyone calm down..

This was how oando started last year and did 100% in less than 4mth afterwards..dis was how diamond started as well and so on.

I will be happy if it can be place on suspension and new management shd come in , float a right issue at 7-9 naira ..


if i see oando at 3.5 i will buy as long as with the new management.

tritritri:
Everyone calm down..

This was how oando started last year and did 100% in less than 4mth afterwards..dis was how diamond started as well and so on.

I will be happy if it can be place on suspension and new management shd come in , float a right issue at 7-9 naira ..


if i see oando at 3.5 i will buy as long as with the new management.

With sanction of scam group the Masters of stock manipulation, do you think that manipulation in stock will still go on, most especially now the auditor has open their mess, and knowing fully well that bouncing back will take number of years, you think at 7/9 that people will pick their offer?

Chibuking81:

With sanction of scam group the Masters of stock manipulation, do you think that manipulation in stock will still go on, most especially now the auditor has open their mess, and knowing fully well that bouncing back will take number of years, you think at 7/9 that people will pick their offer?

The suspension alone will take a whole year.For them to stand as a company on the absence of Wale,there will be a total clean up which will last for one or two years.They will now talk of fund raising which will lead them to reconstruct their existing shares.Chai.......This one is a very looooooooooooong thing oooooooooo.

locodemy:


The suspension alone will take a whole year.For them to stand as a company on the absence of Wale,there will be a total clean up which will last for one or two years.They will now talk of fund raising which will lead them to reconstruct their existing shares.Chai.......This one is a very looooooooooooong thing oooooooooo.

Let watch on how it will end. Locodemy how did your trade of oando ended last year...did u hold on till it went F Bid.?

tritritri:



Let watch on how it will end. Locodemy how did your trade of oando ended last year...did u hold on till it went F Bid.?

Sold on full bid without profit.

RabbiDoracle:


I corrected you but you did "I too know". So I left you na. Una eyes don dey clear one by one.

No mind them, they entered before thinking of what they are buying. Among the reasons folks are buying are FOMO and halo effect, even at that, sentiments and wishful thinking don't push prices up, real money does. Most of the FPIs in our market come through or have some connection with the SA market, yet folks believe those FPIs will leave MTN SA and come and buy MTNN. Some even said PFAs will buy, really, PFAs buy MTNN?

The stellar 2018 profit of 145.69 billion yielded and EPS of 357.87 using the issued shares of 407,090,263 units. With the present outstanding shares of 20,354,513,050 units, the 145.69 billion profit will only yield an EPS of 7.16. Meanwhile, Dangcem that is trading around 200 has a FYE 2018 EPS of 22.83, its EPS is 3.2 times that of MTN meaning it should be trading around 435. Using the same logic, Zenith's EPS of 6.15 is 86% that of MTNN so it should be trading at 0.86*136.50 = 117.25.

Bottom line is, just as 435 and 117 looks unreal for Dangcem and Zenith, so is the current price of MTNN. While many other factors determine where stock prices trade, a methodical investor will not touch MTNN at this price.

lancee:








You said it all..many shareholders lost their hard earned money

Myself inclusive having bought it at 97.50 in 2004 Public offer.

Jejebabaa:

Myself inclusive having bought it at 97.50 in 2004 Public offer.

I remember buying some units at this price too; that should be around 2004/5
Where the certificate dey sef, person don suffer for this market o

locodemy:


The suspension alone will take a whole year.For them to stand as a company on the absence of Wale,there will be a total clean up which will last for one or two years.They will now talk of fund raising which will lead them to reconstruct their existing shares.Chai.......This one is a very looooooooooooong thing oooooooooo.

There is no suspension that is going to last two years. I don't know if the fortunes of the company will change, but I know that the share price will not suffer, any negative reaction will be fleeting.

The exit of Wale will pave the way for the Volpi and Mangal to take charge. Even though Volpi's interest is indirect, the initial plan was to take over the company before that small girl ruined herself thinking she was doing Gwarzo. I am not sure what the free float is but I guess it is around 30%, that would not pose a challenge when it is time to increase their stake from the market.

Jejebabaa:

Myself inclusive having bought it at 97.50 in 2004 Public offer.

Why didn't you sell when it rallied to 280+ in 2008. Or did you sell before then?

Agbalowomeri:


I remember buying some units at this price too; that should be around 2004/5
Where the certificate dey sef, person don suffer for this market o

Person don suffer for this market no be lie. I still have the photocopy of the certificate with me. Anytime i remember the price i bought and the rate at which i ran to the bank that day to buy before closure, water runaway me eye oo.

Northeastern:


There is no suspension that is going to last two years. I don't know if the fortunes of the company will change, but I know that the share price will not suffer, any negative reaction will be fleeting.

The exit of Wale will pave the way for the Volpi and Mangal to take charge. Even though Volpi's interest is indirect, the initial plan was to take over the company before that small girl ruined herself thinking she was doing Gwarzo. I am not sure what the free float is but I guess it is around 30%, that would not pose a challenge when it is time to increase their stake from the market.

I see NSE delisting Oando, not suspension. If you go back to SEC preliminary investigation report which preceded the forensic audit, you would notice the recommended sanctuary for all the infractions was delisting.
Note that SEC's publication says it would make recommendations to NSE.

The best thing for oando shareholders not is outright sale. ie acquisition.

modgba:
Oando Describes SEC Sanction Invalid, Mulls Legal Action
https://businesspost.ng/2019/05/31/oando-describes-sec-sanction-invalid-mulls-legal-action/

Abi werey ni bobo Wale yi ni.

Abeg EFCC should go and pick him and his gang on Monday....

Mpeace:
I see NSE delisting Oando, not suspension.

Who is NSE? Oga, you don't have regulators here so no go there.

As things stand, it is Oando that will delist NSE. No one is delisting any company.

Northeastern:


Why didn't you sell when it rallied to 280+ in 2008. Or did you sell before then?

Till date, i am yet to sell. Still in my portfolio as a remembrance of my stupidity.