SEC to Inaugurate E-dividend Payments This Month
( 02.01.08 )


Source: Punch

The Securities and Exchange Commission has said that the guidelines for the implementation of the electronic-dividend payment will be inaugurated this month.

The Head of Media, SEC, Mr. Lanre Oloyi, who said this during a telephone interview with our correspondent on Tuesday, added that the commission was also working on the implementation of e-bonus for shareholders in the country.

E-dividends and e-bonus refer to the payment of dividends and bonuses through a direct credit by electronic means into the shareholders? nominated accounts.

After such payments, the registrars will send confirmation letters to the respective shareholders.

SEC had said that the present means of paying dividends had led to many problems due to its inefficiency.

According to Oloyi, the Nigerian Inter-Bank Settlement System will operate the e-dividend payment.

He said, "SEC believes that the implementation of the e-dividend payment in the country will make the Nigerian capital market investors? first choice. It will also help to attract foreign investors."

On the delay in the issuance of share certificates to investors, Oloyi revealed that the commission planned to carry out investigations on registrars, with a view to determining those creating the delay.

"We have been holding discussions with various stakeholders in the industry so that the process of issuing certificates will be fast-tracked and the problems associated with it addressed finally," he said.

The commission's guidelines on public offers stipulates that the issuance of share certificates should commence 15 days after the allotment of shares

Investors had alleged that some quoted companies and registrars still took several months to issue share certificates.

A fall out of this, they said, was the hinderance of investors from trading on their shares for capital gains.

Oloyi added that SEC had also instructed all issuing houses to allot all the proceeds from public offers within six weeks.

"We believe that compliance by all stakeholders remains the way out," he said.

Meanwhile, attempts by SEC and the Central Bank of Nigeria to streamline the process of verification of the source of funds invested in public offers, have not been very fruitful.

please what is happening about first inland bank public offer. is it ideal ti invest .5m in it?

@ All,

I think those of us who have not received our Oceanic certificates should write to SEC reporting them and test the efficacy of their compliance on allotment and issuance of certificates.

Who supports moi.

help !!

my stockbrokers bought afro-oil , 60k without my approval , he said it will be a good one ! it is ok or i should just demand my money back , \kindly help

When did your stockbroker buy AFROIL and at what price?

Is this the regular arrangement between you both, that shares can be bought on your account at your stockbroker's discretion?

Did you ask what it will be a good one meant?

.

@ All,

Can this bullish trend be sustained.

FCMB up to 20+ presently while Oceanic losing steam oh.

Thanks , i had some free money and i gave them order to buy beta glass and ag leventis during the xmas holiday . only for them to call me this morning that their trader made a stupid mistake and bought afroil for me , it miust be at 11 naira , last trading day , dec 31st i think , that do i want it or they shoulod just sell it off, then she said , afroil oil might be a good one for me , may be it will appreciate more , initially i said outright No , but later told her i will be there soon , i said she should hold on . i thought i should contact my people on niaraland first , ,

Gudchoice link=topic=31554.msg#msg date=:

@ Man Jiro - thanks for the heads up on the torrent download. Will be trying Metastock.

@ all - tried uploading the NSE.cvs file into Apistock , but I keep getting an error message;

This starts from 12560 - 14015 as you can see below.

Data error in line 14014 of file F:\Documents and Settings\Bleep\My Documents\NSE.csv.
Data error in line 14015 of file F:\Documents and Settings\Bleep\My Documents\NSE.csv.

I have the same problem you have and if u happen to find a solution please do post it, thx.

koksieboy:

Man Jiro,

I don't know a direct download link for Metastock but you can download via torrent on www.isohunt.com but you need to careful as the iso image may have malicious contents.


what's your conact in Scotland?

I have tried to download metastock v10 from this link "http://www.isohunt.com/torrents/?ihq=metastock+v10". Unfortunately my anti-virus has flagged it as containing a few trojans. Scary!!!!.

Does anyone know a link where I can download a clean non-trial 'metastock v10' pleaseeeee

richieade:

I have the same problem you have and if u happen to find a solution please do post it, thx.

The formular i used to pull in data into NSE.csv from the master excel workbook returned #N/A because the data I was looking for did not exist in the master workbook, I copied the whole stuff result and pasted it into a text editor and manually deleted all lines with #N/A, copied the results back over the original NSE.csv, rows shifted up (as is expected, no problem), hence less rows. This is not a problem at all.

pumping777 has already answred this query, you should only be worried if a consecutive read error from row 1 to the end occurs. A quick inpection of the offending rows of NSE.csv should tell if theres error or not.

bigjay01:

I have tried to download metastock v10 from this link "http://www.isohunt.com/torrents/?ihq=metastock+v10". Unfortunately my anti-virus has flagged it as containing a few trojans. Scary!!!!.

Does anyone know a link where I can download a clean non-trial 'metastock v10' pleaseeeee

That's my point exactly, almost all iso you get from torrents have malicious content. However, there are ways to beat such scary tricks.

For anyone using NSE.csv, find attached NSE2.csv for 24/12/07 to 02/02/08, import it and individual securities will be updated with extra info

@ tiwantiwa: this is sticky; but mistakes happen. They ought to have informed you immediately. If you'll be paying the transaction costs, BUY and SELL, that's about N33K for 60K units bought at 11 and sold at 11.06 (closing price today); meaning: when they asked for your permission to sell it all off, did they not mean you'll be paying these costs? AFROIL breakeven price (2.355% and 2.6475% for BUY and SELL respectively) will be about N11.60; anything below this price, you lose some. If they sold at N11.06, this transaction would've cost you N30k.

Technically, AFROIL appears to be pulling back already; i have no access to data to evaluate fundamentals. It's your call; your stockbroker made that mistake at a crucial time; doesn't sound neat.
.

bigjay01:

For anyone using NSE.csv, find attached NSE2.csv for 24/12/07 to 02/02/08, copy and paste to the bottom of NSE.csv and reimport

And where is the attached NSE2 file?
OK seen. I apologise

ololufemi:

@ All,

I think those of us who have not received our Oceanic certificates should write to SEC reporting them and test the efficacy of their compliance on allotment and issuance of certificates.

Who supports moi.

am with u on this. I have made a decision to withdraw my P.O applications except the ones i find truly promising.The opportunities lost to PO s is becoming greater as the excess-demand(oversubscription) for P.Os are almost a certainty.The secondary market is not spared either as the DEMAND for most stocks is pushing prices north .The market seems to be changing fast.  i undertand better why some peeps dont do P.Os.

koksieboy:

That's my point exactly, almost all iso you get from torrents have malicious content. However, there are ways to beat such scary tricks.

@ Koksieboy,

You know that before you install a software you got online, it saves the setup file unto your desktop, or C drive. Can you check if you still have the file?

If you do, please put it in a zip file and send to me: I know the size will be more than 200 kb. My mail is man4jiro@yahoo.co.uk

ololufemi:

@ All,

I think those of us who have not received our Oceanic certificates should write to SEC reporting them and test the efficacy of their compliance on allotment and issuance of certificates.

Who supports moi.

I support you. I was at Oceanic Registrar this afternoon, the story I was told is that the certificates has been posted, but if you bought above 50K Units you should write down your name and phone number, that you will be contacted. I tire oh. My post office box is just opposite their office at Falomo and is taking ages for them to cross over and drop mine.

bigjay01:

The formular i used to pull in data into NSE.csv from the master excel workbook returned #N/A because the data I was looking for did not exist in the master workbook, I copied the whole stuff result and pasted it into a text editor and manually deleted all lines with #N/A, copied the results back over the original NSE.csv, rows shifted up (as is expected, no problem), hence less rows. This is not a problem at all.

pumping777 has already answred this query, you should only be worried if a consecutive read error from row 1 to the end occurs. A quick inpection of the offending rows of NSE.csv should tell if theres error or not.

Aptistock downloader does not download a line if one of the data in the 8 columns is missing e.g if the data you have for 02/01/2008 is missing open or close price. It will not import correctly. It treats each symbol for a date as an entity. FSDH data frequently does not have low price: Aptistock will not like this. Zenith is consistent in having all the data.

If you have data with input missing, you would have to sort: depending on how you sort, the missing data will be arranged at the top or bottom. You can then delete.

@ Bigjay

I think the NA you got is because when ever you save a file as CSV, all cell formating is lost. You could do the linking between two excel sheets and all you would have to do is copy from the excel and paste into the csv

@ Pumping777
When i was creating my original data, I just did copy and paste: merging cells in different sheets is a little bit tricky, more so when the number of rows is not fixed. You can copy data in 24 sheets into your clip board. Once you click paste all, everything gets pasted

Man Jiro:

@ Koksieboy,

You know that before you install a software you got online, it saves the setup file unto your desktop, or C drive. Can you check if you still have the file?

If you do, please put it in a zip file and send to me: I know the size will be more than 200 kb. My mail is man4jiro@yahoo.co.uk

I've sent u an email

Man Jiro:

Aptistock downloader does not download a line if one of the data in the 8 columns is missing e.g if the data you have for 02/01/2008 is missing open or close price. It will not import correctly. It treats each symbol for a date as an entity. FSDH data frequently does not have low price: Aptistock will not like this. Zenith is consistent in having all the data.

If you have data with input missing, you would have to sort: depending on how you sort, the missing data will be arranged at the top or bottom. You can then delete.

@ Bigjay

I think the NA you got is because when ever you save a file as CSV, all cell formating is lost. You could do the linking between two excel sheets and all you would have to do is copy from the excel and paste into the csv

@ Pumping777
When i was creating my original data, I just did copy and paste: merging cells in different sheets is a little bit tricky, more so when the number of rows is not fixed. You can copy data in 24 sheets into your clip board. Once you click paste all, everything gets pasted

I get data from Zenith, sometimes they miss data for some securities on certain days, (eg ACADEMY is missing from the list for 27-12). there is no way of knowing until you run vlookup of the imported price list. Excel puts #N/A in the cell 'cos it cant find it. This is not a problem if it one security on one day 'cos you can get the data frm some other source. It becomes a problem it there are several securities over several days

koksieboy:

I've sent u an email

Could you please send me the metastock installation and stuff to jazzyjay6789 at hotmail dot com. thanks

@Guys

Diamond bank is taking off, why doesnt it get as much publicity as other banking stocks. Anyway bought during the GDR @16.5 and have asked it to be converted to ordinary shares.

@Manc

Looks like nobody interested in Transcorp anymore.

The registrars are Afribank.
They have recently moved from the island to lagos Mainland.
Google them for phone number.

Recent news that Nitel will not be leasing out the exchanges seems like another bad news from an incompetent organisation but I think it is actually good news. It means they don't have to lease them out as a solution has been found for the capital injection.

Don't sell unless you're desperate for the cash.

Happy hunting.

Samstone4

@ololufemi,

Is this your mail?. teetall2002@yahoo.com

bigjay01:

@Guys

Diamond bank is taking off, why doesnt it get as much publicity as other banking stocks. Anyway bought during the GDR @16.5 and have asked it to be converted to ordinary shares.

guys,has anyone got info on this DIAMOND GDR.have'nt heard anything since it was concluded.pls help!

hispy99:

@Pumping

I am thinking of having a 2nd broker too.  What's the min requirement for BGL? 

My broker confirms the minimum for BGL To be N2.5M.

son5070:

guys,has anyone got info on this DIAMOND GDR.have'nt heard anything since it was concluded.please help!

The shares are expected to be credited this January. The shares are already listed.

pumping777:

The shares are expected to be credited this January. The shares are already listed.

Thanks Pumping! Any news on over-subscription?

son5070:

Thanks Pumping! Any news on over-subscription?

The listed shares were more than the shares on offer (even without considering those that opted not to convert to ordinary shares) so I believe it was over-subscribed. However, I did not ask if monies will be returned.

wow even NGC is at N27.30 today, craziness, my broker was able to get some more last friday at N24.99 in addition to the N16 I got in Oct
Crusader at N7.08, haba!
Diamond is finally taking off as well
lets keep watching

pumping777:

The listed shares were more than the shares on offer (even without considering those that opted not to convert to ordinary shares) so I believe it was over-subscribed. However, I did not ask if monies will be returned.

Thanks Man! i appreciate

Naijadr:

wow even NGC is at N27.30 today, craziness, my broker was able to get some more last friday at N24.99 in addition to the N16 I got in Oct
Crusader at N7.08, haba!
Diamond is finally taking off as well
lets keep watching

Congrats