samguru:

What am hearing about honeywell PLC is not palatable ooooo. e

yMcy56:

Shey on top this 5.5B again? Na wa oh.

One thing we should know is that FBNH's boardroom politics extends here..........and Honeywell is a means for the rival group to keep getting to Otudeko.

Recall that Otudeko sacrificed selling Honeywell in order to keep holding on to his position in First Bank...

Since rival group couldn't easily get him to back off First Bank, they'll use every means to get to him........

They are instigating Ecobank against him......... But case is even still at Supreme court....

Otudeko also has strong ally, rival group will still likely not succeed getting to him thru Honeywell too.....

I no know book or know anything ooooooo......but we keep watching as the billionaires' drama unfolds.......

**One thing I suspected here is:. If at all FMN backs off, OLAM may step in**........just speculations oh.

yMcy56:

Shey on top this 5.5B again? Na wa oh.

One thing we should know is that FBNH's boardroom politics extends here..........and Honeywell is a means for the rival group to keep getting to Otudeko.

Recall that Otudeko sacrificed selling Honeywell in order to keep holding on to his position in First Bank...

Since rival group couldn't easily get him to back off First Bank, they'll use every means to get to him........

They are instigating Ecobank against him......... But case is even still at Supreme court....

Otudeko also has strong ally, rival group will still likely not succeed getting to him thru Honeywell too.....

I no know book or know anything ooooooo......but we keep watching as the billionaires' drama unfolds.......

**One thing I suspected here is:. If at all FMN backs off, OLAM may step in**........just speculations oh.

samguru:
Come and see Otudeko's sympathizer
Tell me how much Otudeko give you for this

yMcy56:

Lol.
All of them na onigbese nah.........who dey sympathize with any?

But that man is strong and get strong mind, see as only him is making all of them to be jumping upandan.........

OLAM seems to be eyeing Honeywell before, so IF they spoil his plan with FMN, he fit invite them..........like I said it's just pure speculations.

emmanuelewumi:
Otudeko is out of the equation, CBN and FBNH are the ones running this show. FMN was actually begged to come into the deal and CBN will give them all the support.

Have you forgotten that Honeywell and Otudeko could not meet up with the deadlines given to them by FBNH as per the liquidation of their debts.

If there is excess after the deal, Otudeko might get something but I doubt if there will be an excess. His collateral is less than his debts

yMcy56:

Ok sir, thanks for giving more insight.
.....but I sha know all these have political undertone, we see how it goes....

barrlabs975:


sorry i couldn’t find the contact, can you dm or should i write my number may be you give me a call and or we will do whatsap .. hope you don't get offended

MysTeerioz:
?

emmanuelewumi:
The money is just N5.5 billion, should not be a major issue

yMcy56:

Boss, the debt HW is owing Ecobank is even N3.5B......not N5.5B.
Correct me if I'm wrong sir.

https://www.thisdaylive.com/index.php/2020/12/14/honeywell-drags-ecobank-to-supreme-court-over-alleged-n3-5bn-debt/

E be like say Oba Otudeko owe me some change after all these o........if/when everything ends well.

emmanuelewumi:



It is a complex case.

Honeywell said N3.5 billion, Ecobank said N5.5 billion. Read up about the case on Proshare.

The bank gave Honeywell a deadline to pay up and did not pay up, I guess there were penalties for that which Honeywell did not include in their debt but the bank included the penalties

yMcy56:

Boss, the debt HW is owing Ecobank is even N3.5B......not N5.5B.
Correct me if I'm wrong sir.

https://www.thisdaylive.com/index.php/2020/12/14/honeywell-drags-ecobank-to-supreme-court-over-alleged-n3-5bn-debt/

E be like say Oba Otudeko owe me some change after all these o........if/when everything ends well.

Marketapprentic:

It is even N2billion(and it is being contested) and not N3.5 billion.

yMcy56:

Proshare's news can be outdated sometimes.
One article circulating around now was even dated as far back as 2016.
Honeywell claimed it complied with the terms of the payment and debt liquidated already......... already dragged Ecobank to Supreme Court.

Why can't Ecobank wait for the final judgement from the highest court but was quick to jump out when FMN came in? Can Ecobank take over an asset over mere N3.5M?

One of the reasons I said this case has political undertone.

If eventually Ecobank erred in all these, I expect Honeywell or FMN to sue them for damages..........because the negative effect they created has caused a lot of damages, even loss of share value/revenue to shareholders.

samguru:
If you are in Honeywell Flourmills PLC bus, just come down or jump out of the vehicle now.

emmanuelewumi:


Those in a WhatsApp group I belong to knew when I sold 95%. I started buying at N8.00 and stopped buy during the right offer in 2017 at around N40

I can't stand dividend reduction, dividend stoppage, earnings reduction or losses by a company, it means the dividends are not safe.
How does one join the WhatsApp group?

I sold 98% of my UBA shares in 2020 when the company drastically reduced its dividend, l used the fund to buy 2050 FGN bond at about 13.5% yield

yMcy56:
GTCO..............25.40
ZENITH.….......24.45
Difference:...0.95!!!!!

Zenith getting so close.........is overtaking going to take place here OR GTCo will still prove it's still the leader in the sector??

Justcul:


For the sake of newbies getting into the stock market.. It is actually not wise to compare stock prices but market capitalization of companies..

According to my personal watch list on bloomberg.com, you can see that, at current prices, Zenith is more expensive compared to gtbank..

Please invest wisely!

emmanuelewumi:



Can you share the metrics used to arrive at this conclusion?


Five years ago, GTB sold for N24 while Zenith sold for N14.

At that price GTB gave a dividend yield of about 10%, while Zenith gave a dividend yield of 17%.

The margin between both stocks was N10 which has now reduced to less than N2.00.

Both stocks paid a total dividend per share of N14 in 5 years.

N2.50
N2.80
N2.80
N2.80
N3.10.

At their current price on 25th December 2021.

N1 million invested in Zenith Bank shares in 2016, would have returned 170% capital appreciation and dividends inclusive

While N1 million invested in GTB shares would returned a total of about 60% based on its current price

yMcy56:
GTCO..............25.40
ZENITH.….......24.45
Difference:...0.95!!!!!

Zenith getting so close.........is overtaking going to take place here OR GTCo will still prove it's still the leader in the sector??

IYGEAL:


This was how RIOT Blockchain and MARAthon Digital were going. MARA trailed RIOT with a gap of about 10 dollars or more, until it caught and overtook it - its fundamentals had always been better.

Looks like Zenith will overtake GTCO soon.

Justcul:


For the sake of newbies getting into the stock market.. It is actually not wise to compare stock prices but market capitalization of companies..

According to my personal watch list on bloomberg.com, you can see that, at current prices, Zenith is more expensive compared to gtbank..

Please invest wisely!