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What Happens To My Bank Phb Shares? - Investment - Nairaland

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What Happens To My Bank Phb Shares? by divalishis: 8:16pm On Aug 08, 2011
Please, does anyone know what happens to my Bank PHB shares? I don't understand what is happening o!
Re: What Happens To My Bank Phb Shares? by Nobody: 8:18pm On Aug 08, 2011
;d
Re: What Happens To My Bank Phb Shares? by Nobody: 8:19pm On Aug 08, 2011
;d smiley
Re: What Happens To My Bank Phb Shares? by Nobody: 8:21pm On Aug 08, 2011
figure it out youself,its a demand and supply issue here,investors will not demand for does shares any more ,and once there is know demand the price goes down.
Re: What Happens To My Bank Phb Shares? by divalishis: 8:28pm On Aug 08, 2011
embarassed lipsrsealed cry
Sniff sniff!!!
But seriously, this is bad! If it's safe, I guess I'll just let the shares be. Maybe someday they'll be valuable again??
Its better than selling them cos right now, they're waaaay waaaaay waaaaay lower than the amount I bought them!
Sigh angry undecided embarassed
Re: What Happens To My Bank Phb Shares? by Nobody: 9:02pm On Aug 08, 2011
nobody will buy it and it will take a very longtime to sell plus commission you have to pay,i think what will happen is ,once the merge then ,then you will know were your shares belong,it will be a change of name,maybe for evey 3 unit ,it may equal one depending on the arrangment
Re: What Happens To My Bank Phb Shares? by walcolm(m): 9:29am On Aug 09, 2011
divalishis:

Please, does anyone know what happens to my Bank PHB shares? I don't understand what is happening o!
BankPhb does not exist anymore. the bank that used to be bankPhb is now named Keystone(not sure which is which) but the important thing is that it is OWNED 100% by AMCON

so u dont have bankPHB shares again. it gone, zilch
Re: What Happens To My Bank Phb Shares? by Nobody: 10:30am On Aug 09, 2011
walcolm:

BankPhb does not exist anymore. the bank that used to be bankPhb is now named Keystone(not sure which is which) but the important thing is that it is OWNED 100% by AMCON

so u dont have bankPHB shares again. it gone, zilch
I really pity those who left their funds there out of hope it will bounce back, its so disheartening. I wonder why the deadline was brought forward a whole month without notice
Re: What Happens To My Bank Phb Shares? by ashiri1: 12:09pm On Aug 09, 2011
divalishis:

embarassed lipsrsealed cry
Sniff sniff!!!
But seriously, this is bad! If it's safe, I guess I'll just let the shares be. Maybe someday they'll be valuable again??
Its better than selling them cos right now, they're waaaay waaaaay waaaaay lower than the amount I bought them!
Sigh angry undecided embarassed



The only reasonable post so far.
The rest lack indepth knowledge of the fin system.
Re: What Happens To My Bank Phb Shares? by Nobody: 12:21pm On Aug 09, 2011
^^^
Please enlighten me
Re: What Happens To My Bank Phb Shares? by ashiri1: 12:22pm On Aug 09, 2011
blink182:

^^^
Please enlighten me

Who ?
Re: What Happens To My Bank Phb Shares? by dinvesta: 12:29pm On Aug 09, 2011
I believe ashes are much , much , much ; in fact, way over, more valuable than those shares. You should thank God the Coy is a Plc. If not you would have been liable for all the debts they owe. shocked shocked
Re: What Happens To My Bank Phb Shares? by Nobody: 12:31pm On Aug 09, 2011
dinvesta:

I believe ashes are much , much , much ; in fact, way over, more valuable than those shares. You should thank God the Coy is a Plc. If not you would have been liable for all the debts they owe. shocked shocked
LOL

ashiri1:

Who ?
You my friend, tell me what you think has happened to the shares
Re: What Happens To My Bank Phb Shares? by ashiri1: 12:33pm On Aug 09, 2011
blink182:

LOL
You my friend, tell me what you think has happened to the shares

Common respect red-skirt you no get!!!
I no go tell u! go call police! u pay me for consultancy? cheesy cheesy
Re: What Happens To My Bank Phb Shares? by omaojo1: 12:40pm On Aug 09, 2011
Phb is dead and so are those shares.
ashiri1:



The only reasonable post so far.
The rest lack indepth knowledge of the fin system.

Continue displaying ur ignorance. Which someday? There is nothing like phb again so how would owning a share in it be possible.

The coy is dead and what we now have is a new ltd coy called Keystone bank ltd.

What was NSE and SEC's immediate action on the N3? Indefinate full suspension.

Arrangements are presently underway to delist the shares of the N3.

Thank God they are plcs else, the shareholders would have been responsible for the negative reserves the N3 died with.
Re: What Happens To My Bank Phb Shares? by superior1: 12:44pm On Aug 09, 2011
@ OP it remains a paper without monetary value for life. pele o
Re: What Happens To My Bank Phb Shares? by mrjingles(m): 12:45pm On Aug 09, 2011
Ashiri u must be a comedian! The bank has been NATIONALISED! PHB is now none-existent  and the shares are now NONE-EXISTENT! 100% total absolute wipe out! The guy owns nothing! an inflated balloon has more value than those "shares"
Re: What Happens To My Bank Phb Shares? by ashiri1: 12:46pm On Aug 09, 2011
omaojo1:

Phb is dead and so are those shares.Continue displaying your ignorance. Which someday? There is nothing like phb again so how would owning a share in it be possible.

The coy is dead and what we now have is a new ltd coy called Keystone bank ltd.

What was NSE and SEC's immediate action on the N3? Indefinate full suspension.

Arrangements are presently underway to delist the shares of the N3.

Thank God they are plcs else, the shareholders would have been responsible for the negative reserves the N3 died with.

Time would prove u wrong. keep ur fingas xed
Re: What Happens To My Bank Phb Shares? by omaojo1: 12:46pm On Aug 09, 2011
superior1:

@ OP it remains a paper without monetary value for life. pele o
Gbam.
ashiri1:

Common respect red-skirt you no get!!!
I no go tell u! go call police! u pay me for consultancy? cheesy cheesy
In Nigeria it is very possible, this is consulting ignorance 101.
Re: What Happens To My Bank Phb Shares? by Nobody: 12:51pm On Aug 09, 2011
ashiri1:

Common respect red-skirt you no get!!!
I no go tell u! go call police! u pay me for consultancy? cheesy cheesy
Bros, you must consult for free today, I no go gree o



omaojo1:

Phb is dead and so are those shares.Continue displaying your ignorance. Which someday? There is nothing like phb again so how would owning a share in it be possible.

The coy is dead and what we now have is a new ltd coy called Keystone bank ltd.

What was NSE and SEC's immediate action on the N3? Indefinate full suspension.

Arrangements are presently underway to delist the shares of the N3.

Thank God they are plcs else, the shareholders would have been responsible for the negative reserves the N3 died with.
This is what I know but he sounded convincing and wanted to be open. I do not see how one can own shares of a non existent entity. I believe that's the reason the announcement was made on friday night and the shares put on indefinite suspension to prevent a massive bullish run and panic from taking place when trading resumed on monday thereby dipping the all share index further grin
Re: What Happens To My Bank Phb Shares? by strangest(m): 12:53pm On Aug 09, 2011
camon, are you guys advising the OP, to use his certificates as toilet papers, na person investment una dey ridicule OOO
Re: What Happens To My Bank Phb Shares? by omaojo1: 12:55pm On Aug 09, 2011
blink182:

Bros, you must consult for free today, I no go gree o

This is what I know but he sounded convincing and wanted to be open. I do not see how one can own shares of a non existent entity. I believe that's the reason the announcement was made on friday night and the shares put on indefinite suspension to prevent a massive bullish run and panic from taking place when trading resumed on monday thereby dipping the all share index further grin
Una don kill me with laugh ooooooooooooooo.
Re: What Happens To My Bank Phb Shares? by omaojo1: 12:56pm On Aug 09, 2011
blink182:

Bros, you must consult for free today, I no go gree o

This is what I know but he sounded convincing and wanted to be open. I do not see how one can own shares of a non existent entity. I believe that's the reason the announcement was made on friday night and the shares put on indefinite suspension to prevent a massive bullish run and panic from taking place when trading resumed on monday thereby dipping the all share index further grin
Una don kill me with laugh ooooooooooooooo.
Re: What Happens To My Bank Phb Shares? by ashiri1: 12:56pm On Aug 09, 2011
blink182:

Bros, you must consult for free today, I no go gree o


This is what I know but he sounded convincing and wanted to be open. I do not see how one can own shares of a non existent entity. I believe that's the reason the announcement was made on friday night and the shares put on indefinite suspension to prevent a massive bullish run and panic from taking place when trading resumed on monday thereby dipping the all share index further grin

What happened to the shares of all state trust bank, Citizen bank etc would still apply but with time and consultation. Though the value would dip. The bridge banks are only entities for preparation of the coys for a recap and better standing. The interest of the old shareholders will be protected minutely. This is the best and last i will say. Let time prove me wrong
Re: What Happens To My Bank Phb Shares? by Nobody: 12:57pm On Aug 09, 2011
ashiri1:

Time would prove u wrong. keep your fingas xed
I sorry for you. Hahahahahaha. . . .pele


omaojo1:

Gbam.In Nigeria it is very possible, this is consulting ignorance 101.
Lol. . . . its not everyday you see such specialized consultants



strangest:

camon, are you guys advising the OP, to use his certificates as toilet papers,  na person investment una dey ridicule OOO
No he should frame it in his sitting room
Re: What Happens To My Bank Phb Shares? by Nobody: 12:59pm On Aug 09, 2011
ashiri1:

Time would prove u wrong. keep your fingas xed
I sorry for you. Hahahahahaha. . . .pele


omaojo1:

Gbam.In Nigeria it is very possible, this is consulting ignorance 101.
Lol. . . . its not everyday you see such specialized consultants



strangest:

camon, are you guys advising the OP, to use his certificates as toilet papers,  na person investment una dey ridicule OOO
No he should frame it in his sitting room



ashiri1:

What happened to the shares of all state trust bank, Citizen bank etc would still apply but with time and consultation. Though the value would dip. The bridge banks are only entities for preparation of the coys for a recap and better standing. The interest of the old shareholders will be protected minutely. This is the best and last i will say. Let time prove me wrong
I see some sense but if it should deep further than what it was, we should be expecting 0.09 price
Re: What Happens To My Bank Phb Shares? by omaojo1: 1:12pm On Aug 09, 2011
ashiri1:

What happened to the shares of all state trust bank, Citizen bank etc would still apply but with time and consultation. Though the value would dip. The bridge banks are only entities for preparation of the coys for a recap and better standing. The interest of the old shareholders will be protected minutely. This is the best and last i will say. Let time prove me wrong
Now ask for education.

Citizens Bank was the consolidation vehicle for the old Spring bank plc. When the consolidation deal went thru, the shares of the 6 banks that merged were restructured based on some agreed criteria. It was a case of diff banks coming together to meet the 25b naira minimum cap base requirement.

In the case of all states, it was purchased by ecobank.

In the two cases above, the coys were not as the n3 and the resultin entities were not plcs.

The tall and short is this: there were no shareholders as those banks were carrying negative reserves. Technically speaking, the value of those shares were supposed to be in negative to the tune of the negative reserves the respective banks carried b4 their demise.
Re: What Happens To My Bank Phb Shares? by Ufeolorun(m): 1:17pm On Aug 09, 2011
As an ordinary share holder you have  right to the  residual interest in the company, IF ANY.(its universal ).I  think the govt agency  is just acting as a lender to help  protect public deposit and jobs, act as administrator to steer  the bank back to profitability and probably agree on how government funds used would be paid back(see General motors(GM), then hand it back to the shareholders.
Your shares might still be valuable in the long-run.

THE CHANGE OF NAMES IS SOMEHOW VERY CONFUSING,WHY THROW AWAY A WHOLE BRAND THATS NOT  SIGNIFICANTLY IMPAIRED.

MY TAKE wink
Re: What Happens To My Bank Phb Shares? by Nobody: 1:18pm On Aug 09, 2011
omaojo1:

Now ask for education.

Citizens Bank was the consolidation vehicle for the old Spring bank plc. When the consolidation deal went thru, the shares of the 6 banks that merged were restructured based on some agreed criteria. It was a case of diff banks coming together to meet the 25b naira minimum cap base requirement.

In the case of all states, it was purchased by ecobank.

In the two cases above, the coys were not as the n3 and the resultin entities were not plcs.

The tall and short is this: there were no shareholders as those banks were carrying negative reserves. Technically speaking, the value of those shares were supposed to be in negative to the tune of the negative reserves the respective banks carried b4 their demise.
Now this is in depth knowledge
Re: What Happens To My Bank Phb Shares? by blank(f): 1:26pm On Aug 09, 2011
Worthless pieces of paper. The paper is even more valuable than the shares itself. Before NSE put a halt on trading, the value had crashed to N4.97. Go and buy fullscap paper from the mallams and see how much they will charge u.

Continue to wait for NDIC to pay u. They have not finished thinking of how they will pay the depositors billions of deposits, its an investor they will now pay. U took a gamble and a risk and it didn't pay off. The bank is now owned by FGN. Nothing for u.
Re: What Happens To My Bank Phb Shares? by Nobody: 1:29pm On Aug 09, 2011
Ufeolorun:

As an ordinary share holder you have  right to the  residual interest in the company, IF ANY.(its universal ).I  think the govt agency  is just acting as a lender to help  protect public deposit and jobs, act as administrator to steer  the bank back to profitability and probably agree on how government funds used would be paid back(see General motors(GM), then hand it back to the shareholders.
Your shares might still be valuable in the long-run.

THE CHANGE OF NAMES IS SOMEHOW VERY CONFUSING,WHY THROW AWAY A WHOLE BRAND THATS NOT  SIGNIFICANTLY IMPAIRED.

MY TAKE wink

You've said it yourself. This is nigeria not Uk or USA. Every country is dynamic in how it chooses to solve their problem. It was clearly stated that the nationalization of the banks brought to an end the banking meltdown in nigeria. Those banks are history, no coming back.


blank:

Worthless pieces of paper. The paper is even more valuable than the shares itself. Before NSE put a halt on trading, the value had crashed to N4.97. Go and buy fullscap paper from the mallams and see how much they will charge u.

Continue to wait for NDIC to pay u. They have not finished thinking of how they will pay the depositors billions of deposits, its an investor they will now pay. U took a gamble and a risk and it didn't pay off. The bank is now owned by FGN. Nothing for u.
Neat truth but some people are giving themselves hope
Re: What Happens To My Bank Phb Shares? by blank(f): 1:32pm On Aug 09, 2011
U guys don't seem to understand. The bridge bank is a 3 yr project at the end of which they either get a buyer or they liquidate the bank. U guys are still talking of All States etc that were taken over by other banks and not govt. When a government nationalises anything, have you ever heard of them paying shareholders? Please, read up on Economics or just google "what does nationalisation mean". This is a form of nationalization called expropriation.

No hope.

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