@harrisoft, the reason why your post is above mine is because i was screaming at my broker to get me solid info on oceanic certs.

she said, they should inform us about the basis of allotment about two weeks before they start posting scertificates, so we should keep all ears to the ground,

infact, lets us encourage bigboylary to use his crystal ball deftly now

we need to ride out this stuff, if not another DANSUGAR or 1st bank is in the works for us,
every N1 gain or loss translates to sth else

@Tmoni

Thank you very much.

I bought Zenith's Bank shares in 2004, and since then i have not recieved any certificate from them, not to mention bonuses, i want to know if any of the shareholders has recieved any thing from them, cause i am starting to smell foul play

@tmoni

The basis of Oceanic Bank share allotment is in today Punch Newspaper

Oceanic's Article

http://businessdayonline.com/National/438.html

Is the SEC going to allow them to keep all of the extra N125B? I thought they said 25% oversubscription only.

easimoni:

Oceanic's Article

http://businessdayonline.com/National/438.html

Is the SEC going to allow them to keep all of the extra N125B? I thought they said 25% oversubscription only.

I would expects sec's rule not to be backdated to include oceanic and co who had their offers way before the rule came into place

Temmie10:

I would expects sec's rule not to be backdated to include oceanic and co who had their offers way before the rule came into place

The SEC stated the rule had always been there. They chose to "re-emphasize" it a couple of weeks ago. I wonder when they'll actually start to apply it.

Anyway, if they keep all of the proceeds, we are looking at a total of 22.2B shares and a forward PE of 40.

@easimoni, I've noticed that most of the insurance companies lost on the stock exchange today, could this be as a result of the recent policy not to release their reserves
Tell me in time so i can deliberate on whether to run for my life right now or stand and fight

sergio:

I bought Zenith's Bank shares in 2004, and since then i have not recieved any certificate from them, not to mention bonuses, i want to know if any of the shareholders has recieved any thing from them, cause i am starting to smell foul play

I got the first certificate in 2004 but none other since then, you should go and question your situation oh.

easimoni:

The SEC stated the rule had always been there. They chose to "re-emphasize" it a couple of weeks ago. I wonder when they'll actually start to apply it.

Anyway, if they keep all of the proceeds, we are looking at a total of 22.2B shares and a forward PE of 40.

If oceanic indeed has 22 billion shares, then its clearly overpriced.
I checked their prospectus again and if they do not beat their ambitous forecasts, they will remain overpriced even after 2008 earnings.
Besides, it would be interesting to see if those who bought the last public offer will partake of dividend/bonus

@ easimoni, ur fsdh report was accurate. university press did a rights issue of 1 for 1. so it doubled their shares outstanding and the trailing eps stands at 0.364. its trailing pe is now 17. still not bad. however, i took a look at longmans figures(in the same sector) and its solid as a rock!!! trailing eps of 1.23 which gives it a current pe of 10. i checked the sec link you gave me and they have not had any offer or rights recently. looks like a good one.

@ easimoni, temmie 10. i read an article about intercontinental this week that caught the eye. from its financial history, its Q1 PAT is only 15% of its earnings for the year. based on this their PAT should be 31 billion . for a stock that has 18.9 billion shares it still yields an eps of 1.68. and a forward pe of 15. doesnt look too shabby ehn??\most analysts put PAT at 22bn cos its Q1 PAT was 4.7 billion.

shigidi:

@ easimoni, your fsdh report was accurate. university press did a rights issue of 1 for 1. so it doubled their shares outstanding and the trailing eps stands at 0.364. its trailing pe is now 17. still not bad. however, i took a look at longmans figures(in the same sector) and its solid as a rock!!! trailing eps of 1.23 which gives it a current pe of 10. i checked the sec link you gave me and they have not had any offer or rights recently. looks like a good one.

Longman appears good but will wait for the Q2 result. Trying to forecast the full year result based on the Q1 result is difficult. Something just does not add up.

shigidi:

@ easimoni, temmie 10. i read an article about intercontinental this week that caught the eye. from its financial history, its Q1 PAT is only 15% of its earnings for the year. based on this their PAT should be 31 billion . for a stock that has 18.9 billion shares it still yields an eps of 1.68. and a forward pe of 15. doesnt look too shabby ehn??\most analysts put PAT at 22bn because its Q1 PAT was 4.7 billion.

Maybe for the long term. Not sure how many convertible loans they have on their books.

Good thing is that Erastus is a core banker!

I was having a look at basically three stocks, i dont know why, but i am having a feeling of buying them. Crusader Insurance, Evans Medical and vitafoam. Does anyone consider this a very stong buy at all?,


Does anyone know how i can get annual report (year 2000-2005) and 5-year summary (2000 - 2005) for this two companies:
1. NEM Insurance Co. PLC
2. United Nigerian Textiles.


I sure will appreciate your comments,

gbengaijot:

I was having a look at basically three stocks, i don't know why, but i am having a feeling of buying them. Crusader Insurance, Evans Medical and vitafoam. Does anyone consider this a very stong buy at all?,


Does anyone know how i can get annual report (year 2000-2005) and 5-year summary (2000 - 2005) for this two companies:
1. NEM Insurance Co. PLC
2. United Nigerian Textiles.


I sure will appreciate your comments,

Well, if you buy UNTL, then you msut be ready for a long wait. it is a loss making company and things will not change soon.

On NEM, price is falling. They merged with Vigilante hope this will bring about a change for good in their fortunes. Not sure what the outstanding shares number is.

shigidi:

@ easimoni, your fsdh report was accurate. university press did a rights issue of 1 for 1. so it doubled their shares outstanding and the trailing eps stands at 0.364. its trailing pe is now 17. still not bad. however, i took a look at longmans figures(in the same sector) and its solid as a rock!!! trailing eps of 1.23 which gives it a current pe of 10. i checked the sec link you gave me and they have not had any offer or rights recently. looks like a good one.

I  looked at my Longman results. In 2006, the FY PAT was N204M. In the 1st 6 months of 2007, it's been only N21M but that's higher than the 1st 6 months of 2006 (17.5M). It seems Longman made 91+% of it's profits in the last 6 months of the yr and has to do the same thing to match last yrs results. I suggest you try to find last yr's financials to see if there was some EI that was added to PAT in the 3  or 4Q last yr. Maybe there was and people have discounted the price because of it.

I know it seems we throw stones at any good idea (I certainly feel that way), but it prevents us from making huge mistakes that would seem obvious in hindsight. Let me know what you think/find.

gbengaijot:

I was having a look at basically three stocks, i don't know why, but i am having a feeling of buying them. Crusader Insurance, Evans Medical and vitafoam. Does anyone consider this a very stong buy at all?,

Crusader is a strong buy.

@easimoni and wanajo, please do comment on Evans medical, crusader, and vitafoam.

I need those annual reports for school projects. If anyone has links, do post them on here

easimoni:

I  looked at my Longman results. In 2006, the FY PAT was N204M. In the 1st 6 months of 2007, it's been only N21M but that's higher than the 1st 6 months of 2006 (17.5M). It seems Longman made 91+% of it's profits in the last 6 months of the yr and has to do the same thing to match last years results. I suggest you try to find last yr's financials to see if there was some EI that was added to PAT in the 3  or 4Q last yr. Maybe there was and people have discounted the price because of it.

I know it seems we throw stones at any good idea (I certainly feel that way), but it prevents us from making huge mistakes that would seem obvious in hindsight. Let me know what you think/find.

thats been the trend for the past five years according to cashcraft. their Q4 profit always seems to account for more than 70% of its entire revenue. maybe their jobs are seasonal. will look into it but i think it may be good to wait for half year results for this current year.

BTW, easimoni, i wnated to ask you about ur analysis of berger paints .its trailing pe is not 14 but 18. its half year result last year was 45million. divided by 217.7 million shares gives half year eps of 0.2 and full year of 0.4. it is this years eps that should give eps of 0.6. and PAT of 14.

heard oceanic want to absorb shares to get up to 22 billion.
wouldnt be too worried though. i would expect the price to fall to about 26-28 based on this news. wont be too bad to pick up some then for the long term

gbengaijot:

@easimoni and wanajo, please do comment on Evans medical, crusader, and vitafoam.

I need those annual reports for school projects. If anyone has links, do post them on here

I tend to go for the 'best' in each sector.

Will rather go for May and baker instead of Evans

Not sold on any insurance stock for now. The uncertainty is too much. No one knows the number of oustanding shares with all the offers, rights and mergers. So many behind the scenes move that makes calaculation difficult.

Vitafoam is not bad. result normally comes out in February. Facing a lot of competition with dwindling margins.

I bought Zenith's Bank shares in 2004, and since then i have not recieved any certificate from them, not to mention bonuses, i want to know if any of the shareholders has recieved any thing from them, cause i am starting to smell foul play  


Attn Sergio!!
Just a few questions?
Which adddress did you use to buy the IPO?
Have you changed address since then?
If the answers to the above are negative then there sure is something wrong with your zenith,  I had received my certificate and at least one dividend payment.  Call the registrars using this:

Zenith Registrars Limited
1, Prince Ade Odedina Street
Victoria Island Extension
Lagos, Nigeria

Tel: 234-1-2708930-4

E-mail: enquiry@zenithregistrars.com



Act quickly because I more than smell foul

did any1 notice that access didnt gain 5% today. that was really quick. is the momentum done already??

shigidi:

did anyone notice that access didnt gain 5% today. that was really quick. is the momentum done already??

I hope not. But if it is done, it will return sooner rather than later.

shigidi:

thats been the trend for the past five years according to cashcraft. their Q4 profit always seems to account for more than 70% of its entire revenue. maybe their jobs are seasonal. will look into it but i think it may be good to wait for half year results for this current year.

Okay then!

BTW I have the half yr;

LONGMAN NIGERIA PLC 6 mths, June 2007
Turnover 664.60 570.00 16.6%
PBT 30.70 25.80 19.0%
Tax 9.80 8.20 19.5%
PAT 20.80 17.50 18.9%

Normally I charge, but because na you

shigidi:

did anyone notice that access didnt gain 5% today. that was really quick. is the momentum done already??

Yes, momentum is over. No money to jerk up the price!!!!

shigidi:

thats been the trend for the past five years according to cashcraft. their Q4 profit always seems to account for more than 70% of its entire revenue. maybe their jobs are seasonal. will look into it but i think it may be good to wait for half year results for this current year.

A lot is due to the academic calendar. Most sales done at the beginning of a new session. But the gap is still so wide!!!

Guys i think it is too early to panic on oceanic. There is time to ride it to a profitable end. Unfortunately this ride is for people who bought in the secondary market. I also bought in the primary and later picked some a few months ago.

Dont forgt that intercontinentals outstanding shares rose astronomically when they listed thier shares but did not impact price that much. It is even on an upward movement now

gbengaijot:

I was having a look at basically three stocks, i don't know why, but i am having a feeling of buying them. Crusader Insurance, Evans Medical and vitafoam. Does anyone consider this a very stong buy at all?,


Does anyone know how i can get annual report (year 2000-2005) and 5-year summary (2000 - 2005) for this two companies:
1. NEM Insurance Co. PLC
2. United Nigerian Textiles.


I sure will appreciate your comments,

Bobs PLEASE never invest based on your feelings but some knowledge of the business your are interested in investing. For instance UNTL can yield some profit but when you look at the loose borders in the country (making importation of textiles easy) and other issues like no power for production, it a no go for me no matter how many of our leaders Etteh and co wear textiles (presuming that from the pics i see of her what she wears are UNTL products)

Summarily of the three mentioned Crusader has better prospects of growth.
Vitafoam is ok but if they dont work hard new guys like mouka foam etc are going to get a larger market share,

Cheers

wanaj0:

Yes, momentum is over. No money to jerk up the price!!!!

I also think that investors are growing weary of banking stocks coupled with the emergence of better/poorer banking stock results to make for good comparison. My observation is that there are other bargins out there so why tie money down in Access.

@sergio

After the PO of Zenith, they had an issue with the registrar stuff cos initially it was First Registrars that were in charge b4 Zenith Sec came on. During this period there were a lot of mix-ups. Even myself I didnt get my certificate, so I went through the rigour of filling an indemnity form thereby nullifying the former cert.
Avice is u go th Zenith Sec. GEES has provided the address.
Let me ask U, have u ben reciving dividends. Sort urself out at the registrars
No Bonus issues since then until this year June , they gave1 for 4.
Goodluck

@all

Seriously thinking of changing my brokers. Infact I am changing them. Asked them to sell some of my Zenith and for 2 weeks they were giving me crappy stories about no buyers. Bull, t

Need some advice on Crossworld securities, Cash Craft and Marina Securities, I have received recommendations on these three but what I need 2 know is how much is of security is required to open an account with them as the case might be.

Please house furnish me with the required info

@ All

As i open my crystal ball i see before me IKEJA HOTEL PLC and i bought heavily into it THAT is why am still smiling non stop.To be informed is to be transformed

@Tmoni,
shine your eyez well well hammer your broker for more details

@NBA,
I call Vetiva on Friday 4617521 and it was always busy i beg you get another fast line to reach them.