Adeniyi A.:

...or banged with InvertedHammer

Paentera: I marvel when I read about the sort of comments of those on this thread. I am certain 99% of those who bought the shares did not read the prospectus or learn about the risks involved in buying an IPO. All they knew was that DAAR communications was selling shares and shares were a fast way of making money.

Many did not do any form of detailed research about the company or get professional help to learn about its past financial results therefore were unable to make informed decisions about the IPO. Investing is serious business, all the finer points should be analysed however we use our hearts to invest as a result of sentiments and get bitten. Like someone pointed out earlier - IPOs take time to mature and are usually hold or long term stocks. Last time I checked, DAAR Communications was still listed and any shareholder has a right to go to their registered office to ask for a copy of their latest audited financial records - something they have to file with SEC & CAC.

If you have proof showing that you can confirm that the business is run as a scam or you are not being paid your due while the management are living large, then you can invite the authorities or sue the company to the court of law.

adconline: If you bought DAAR shares, you have yourself to blame cos this coy had been insolvent as far back as 1998. They were unable to pay their creditors then.

Paentera: I marvel when I read about the sort of comments of those on this thread. I am certain 99% of those who bought the shares did not read the prospectus or learn about the risks involved in buying an IPO. All they knew was that DAAR communications was selling shares and shares were a fast way of making money.

Many did not do any form of detailed research about the company or get professional help to learn about its past financial results therefore were unable to make informed decisions about the IPO. Investing is serious business, all the finer points should be analysed however we use our hearts to invest as a result of sentiments and get bitten. Like someone pointed out earlier - IPOs take time to mature and are usually hold or long term stocks. Last time I checked, DAAR Communications was still listed and any shareholder has a right to go to their registered office to ask for a copy of their latest audited financial records - something they have to file with SEC & CAC.

If you have proof showing that you can confirm that the business is run as a scam or you are not being paid your due while the management are living large, then you can invite the authorities or sue the company to the court of law.

Omexonomy: to a lesser extent you are right. They hit the market at 5naira by hiding information, cooking thier finnancial report to make it look good and juicy and no AGM since 2008, six months later it turned into .50kobo. Is this not deliberate fraud or not.

ypzilanti:

In a correct country, Dokpesi would be cooling his heels in a jail cell.

rubyno: Did You Buy Shares From DAAR Communications?

Pls fellow Nairalanders,

I bought shares from Daar Communications since 2008 and got the certificate thereafter but nothing else (I mean no kobo received as dividend).

Anybody with same experience here? Is it normal or something is wrong?

I need advice.

mancol: I'm equally a victim. Bought 4000 units but got a certificate for only 2000 units worth of my subscription and didn't get a refund till date. Worst is that I can't even ask my broker or make mention of it to someone. Am just too ashamed and confused of went wrong. No news, no AGM, just nothing to show that the shares exists. Seriously planning of a legal action someday.

Omexonomy: then why did sec allow thier IPO under the able leadership of prof. Okere onyuku This is the biggest kwestion of the millinium.

vanstanzy: I don't want to say the company is hounded by MISMANAGEMENT. But where the Management keep employing his brothers and

sisters, no matter whether experienced or not (U know who am referring to!), the company couldn't possibly stand the

test of time.

Lesson 1: Consider the board members and employees of a company before buying into it.

Ashmark: Thank you very much for bringing up this issue.I bought the shares too in 2008 and since then have not recieved anything,not even a certificate.The only thing that I have is the teller that was used to make the payment.Hope my case is not worst?

Omexonomy: The owner of daar dupe the public big time they came to the market at 5 naira per unit after a six months everything fell to .50kobo per unit and upon that they are still oweing fidelity bank roughly six billion with no hope of paying back. All this was done under the watchfull eye of sec, nse under the able chairmanship of prof. Ndi Okereke
Let us hope that something might be done about it under the new sec boss.

chinig: No AGM for †ђξ shareholder. No dividends paid to the shareholders.and they go about opening new stations and paying exotic cars. Can't anything be done!

Risto:
Abeg una own good, shey u have certificate to show that u bought their shares? mine is worse, i dont even have anything, all i have is my teller and photocopy of the application forms when purchasing the shares.
Can anybody even gimme the name of the Registrar DAAR communications used? cos all i have is my teller and photocopy of the application forms when purchasing the shares. i have not heard from DAAR communications or their registrars ever since.
i dont even have a share certificate....Same with my wife.
PLEASE HELP!!!!