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Aremso's Posts

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Investment › Re: MBA Investors Forum by aremso(m): 5:16pm On Oct 06, 2019
Defavourite:
Pls i want to know if after paying 15% ROI, will the company still give you back you capital investment at the end of your contract with them.
U can contact them directly!
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 8:02pm On Oct 05, 2019
PETERiCHY:
2020 is the YEAR of MELTDOWN.

Follow the NEW YEAR EUPHORIA and EXIT with your PORTFOLIO don't be CAUGHT in the CROSSFIRE.

Those that has EARS let them hear what the FUTURE holds....

*ThE OcToPuS*
Peteru! You have come again? No bargain hunter take note again?
I can't understand this again oo!

Octopus
Investment › Re: MBA Investors Forum by aremso(m): 8:16pm On Oct 03, 2019
dogtails:
My question is,If u invest 360k and ur percent is 15% which is like 58k monthly,will u still be paid back ur 360k at the end of the year or howhuhPlease can someone be kind enough to explain to me
According to their explanations, it runs for six months and after the six months u are liberty to either roll over or terminate your investment. But before then, you will have to print your statement of account for that period for them to ascertain that you were not paid twice and when that is done u get your capital back
Investment › Re: MBA Investors Forum by aremso(m): 4:52am On Oct 03, 2019
slimanyd:
Anytime i see these adage of invest what you can afford to loose ,my mind rings bell to the days of mmm. Like mba is also synonymous to mmm. Hmmmnnn
No cross no crown, no risk no reward if one is always afraid of falling the person will never rise. I loose money in 07/08 stock crash loose money in oceanic, bank phb and intercontinental bank. Should I run away from stock ? NO but was not totally active like before but I was still buying the shares, along the way, ventured into DPK(kero) business and I was giving the retailers the product on credit so they can pay me after sales today the rest is story business worth about 3m gone. Fast forward, entrusted my hard earned money into the hand of a guy believed to be trust worthy since I can't do the business of LPG we agreed on the % to be bringing monthly he started well not knowing he had other plans and mind you I was not the only person having money with him, he was taken to kirikiri max prison the rest is story. Should I quit and kill myself over about 7.5m which was sealed by legal back up, NO! I went back to stock and restrategise......moving to 2017 and early 2018 my spirit told me to sell all my stock cos there was bull during that period, I did and to God be the glory I obey my instinct those stocks have not gone back to all the prices I sold them. So I trade in stock just once in a yr and later put my money in tbills. Am from a poverty stricken home and am ready to take legitimate risk to break that poverty chain for the posterity coming after me. I give God all the glory HE alone has helped me to bounce back I loose money in mmm too but the reason was because I did folo folo did not ask what kind of business mmm trade in that generated that returns of 30% for MBA forex am aware they trade in forex mind u I have also trade in forex myself which I loose money so if someone can trade for me, am ready to take that risk. Dangote is taking over naija economy very soon simply cos the guy is a takes risk all the time. NO CROSS, NO CROWN. NO RISK NO REWARD but one should take calculated risk and pay your tithe.
Investment › Re: MBA Investors Forum by aremso(m): 5:31pm On Sep 30, 2019
Just left MBA forex PH office! Tempted to test their water hope I will not burn my fingers oo. They lady over assured me that my money is safe that they are not ponzi that they have offices not only in pH. God pls guide me ooo I can't afford to loose a dime again oo
Jobs/Vacancies › Re: Am Tired...someone Should Help Me Before I Kill Myself. by aremso(m): 6:48pm On Sep 28, 2019
Heineken:
Am seriously suffering. At 31 am still squatting. Am through with my service since 2014 but still no job. Am more than depressed... Am perplexed and am not thinking well. At my age I don't have even 1000 in my account. To eat, I have to visit friends...most times is just only breakfast and water at night. I don't want to die this way.. Am not happy. I applied civil defense. Don't know if anyone can help me.. Or any job.
Guy you are a sleeping billionaire if you can engage your brain positively not yahoo or other negative ways of making it. If you know how to drive, u can drive uber, you can also turn what u have passion for into money making venture the erra of white collar job is gone.
Business › Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by aremso(m): 6:10pm On Sep 28, 2019
adsmaster:
Cc GAZZUZZ

The corolla I drive from my observation does 160km on a 3k fuel(20.6 liter) so going by your 12km per liter then 20.6 liters should cover 247km

Men my corolla dey kill me oh!! I noticed the consumption had to take it back to my partner, we changed all the four coils, plug first then I took it back went to workfoybd out it was still consuming fuel went back told them to scan, according to his mechanic they scanned and it showed that they should service nozzles/injector..i still know it's consuming fuel..

Gazzuzz what do I do next?
Is your both o2 sensors working? If they are then check the exhaust to be sure is not leaking and the catalist are still there!
Investment › Re: Treasury Bills In Nigeria by aremso(m): 6:05pm On Sep 28, 2019
emmanuelewumi:
D



Can you get an old house of 20 million in surul
Very possible but be ready to demolish and build your taste
Business › Re: If You Are Uber Partner In Lagos, Please Share Your Experience Here by aremso(m): 9:30am On Sep 28, 2019
Good morning all, please am new on this thread I want to know the average delivery amount per week, month and year. I have mind of going into it by giving it to a driver, kindly help in giving out these information.
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 9:39am On Sep 26, 2019
maishai:
2 years ago #100 for total that pays #12 div consitently is a bargain..........Im really constrained by free cash, this is a stock to buy and wait for pdp to come back to power...Buhari adminstration does not favor fuel marketers
So it must favour them at the detriment of the poor masses or for our own selfish intrest cos we want to buy oil stocks?
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 2:43pm On Sep 24, 2019
PETERiCHY:
END of MONTH book balancing don't be caught in the CROSSFIRE! cool

*ThE OcToPuS*
Trust you! You must find one name to give am.


Octopus
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 1:23pm On Sep 20, 2019
veecovee:
Pls folks as you are doing any type of business, make sure you are at peace with God and man. And lead a life of holiness and righteousness.

What I see and read daily these days fear me. I feel that any thing could happen any time.

I have some money in this market, yes, but if I miss rapture the money is no longer mine cause I m ready to die than receive the number "666"
May God not let us miss the rapture cos that is our final hope
Investment › Re: Treasury Bills In Nigeria by aremso(m): 7:56am On Sep 18, 2019
RealityShot:
oga.. If you say "Uber" again,
I will know you do not "listen".


How can you be planning to start a business with 100% of your capitalhuh?

Please use your degree to go and get a teaching job now.
You clearly have very low risk appetite and a little laziness in you (like me.. Lol).

God bless you for this, you have made my day!

No need for heart attack from driver wahala.

The job will give you pocket money, while you can keep your investment growing with the interests.

NOW, if you are still interested in business, after getting the job,
Then use the next Tbills interest ONLY to learn about the business and start it PART-TIME.

FOR EXAMPLE:
you get 120k interest.
Use 25k to study/pay for training on Okirika business
Use 50k to buy a bail
Use 12k to pay advance for floor space (or sell ON-THE-GO)
use 8k to pay your salesperson first month salary... Lol...

Here is the catch... If s/he can't make enough profit in the first month, you will be able to pay s/he for the next 3 months without fear.

After THAT TIME you should know if you are going to continue to support the business from your job....
LOL...

Business no easy OH... Never use more that 50% of your capital to start a new business (especially in NIGERIA).

GOOD luck.
Technology Market › Re: USA Used Dell E6420 Core I5 For Sale. by aremso(m): 3:50pm On Sep 15, 2019
chidiogo123:
chat me on WhatsApp.
08032966258
Technology Market › Re: USA Used Dell E6420 Core I5 For Sale. by aremso(m): 3:34pm On Sep 15, 2019
chidiogo123:
WhatsApp: http:///2348172568455
Rather too expensive @ 65k
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 2:49pm On Sep 15, 2019
PETERiCHY:
School RESUMPTION date was Monday Sept 9 and we took position on Friday Sept 6 which is the last day for SEPT SCHOOL FEES PAYMENT.

You know say na Bottom Pot dey sweet pass grin
Oga peter you have been going back and forth since PMB assume presidency. Make u maintain one lane ooo octopus
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 3:34pm On Sep 11, 2019
Rejoice04:
Good day house.

Please how can I reclaim my Gtb bonus shares? I sold my shares 2010, I didn't know the bonus shares that I received before selling my shares is still valid so I misplaced the bonus shares certificate.

Thanks
Go to data max registrar for gtb, they will attend to all your concerns
Investment › Re: Treasury Bills In Nigeria by aremso(m): 4:45pm On Sep 10, 2019
Saltwater:
Abeg what time of the day do mature TBill get credited. Assuming my tbill is to mature on 12th September, when will I likely get credited.
U will be credited before COB latest if there is no network issue
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 9:14pm On Sep 07, 2019
bigjay01:
Regret ke? Me na loooong term I de dooo ooo. What of all the divs I have collected since? My UBA holdings is sitting on a very +ve position.

My old man is 83, he still has a lot of shares bought in the 70s.

I can preach a very good sermon on long term holding grin grin
But in my own view the personal bailing out and re entering at lower prices would still accumulate more wealth than you even with all the dividend. Just my own opinion though cos I have practically done both
Career › Re: Oando Sacks 100 Workers by aremso(m): 7:24pm On Sep 04, 2019
bluskyee:
Among all forms of stupidity self-deceit crowns it all. I guess by now you are running a full fledge business with equity that fell from the sky? Bro you are not conversing with a nonentity.
Ride on prof, everyone go dey alright las las.
Career › Re: Oando Sacks 100 Workers by aremso(m): 7:44pm On Sep 03, 2019
bluskyee:
what emprical alternative solution did kiyosaki provide? Abi when them born you capital follow commot from your mama V.J?
Oga think and grow rich, you have capital already sitting inside you. I met a Chinese friend some yrs back and he said the best thing that has happened to him is to come and work in Nigeria that there is money everywhere and here we are we can't see it but ever ready to complain till eternity
Career › Re: Oando Sacks 100 Workers by aremso(m): 7:40pm On Sep 03, 2019
[quote author= post=81887981]This is why it is always good to have something to fall back on at times like this.

Morals : BE YOUR OWN BOSS![/quote]The Best comment of the month but many will still be running rat race!
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 10:04am On Sep 02, 2019
TraDeRR:
Trump is NOT our problem.. President Muhammadu Buhari IS and IS the problem of Nigeria..
Trump is making America great again. What is your president doing with Nigeria ?
Trump wants the best for his people hence his conference call with ceo’s of top banks in America concerning the fall in stock market..
The ceos were open to him and told him the trade war with China is the major cause..
They advised him and knowing the kind of person he is (one who wants to always be on the winning side, quick to blow his own trumpet and likes to compare his administration with the past administrations) THE TRADE WAR IS OVER..

Nigeria problem dey Aso rock abi na Aso Villa
Then why is Buffet sitting on billions of cash not investing it if Trump is not the problem and trade war is over
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 1:35pm On Sep 01, 2019
Chibuking81:
Time will correct it, on or before final year result UBA will likely visit #10. But within this period they might see #6.5, but the possibility of coming down to 5.40 below is high. Just see what happened to Zenith bank and its passengers, they didn't wait for the qualification or mark down before taken 100 meter race in bailing out.

The way am seen it, ASI will likely visit 25,000 or below within this year, but one thing is certain, it must rise again before final year result.
I don jump from fence to the tree oo waiting for ASI @25k
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 1:32pm On Sep 01, 2019
Godlylifeoneart:
@Respected Agbalowomeri. I respect your view and strategy, but we need to consider the worst scenario in which case, the market depression persists. I factored this in my opinion. If you get N5, 000,000 loan @ 21% per annum, the interest rate will be N1, 050,000.
If you invest all in Zenith equity @ N18. 00You get the about 277,777 units, You wait for zenith dividend in 2020 N2. 50 +/- 0.5.kobo, The return on investment will give you maximum N694,000 to N834, 000. Excluding witholding tax.
You then pay N1M+ to bank.
AT this present stalemate, a single tweet by trumph is enough to send all the strong bourses in the world flat, not to mention our teething NSE that Buhari is not interested in its progress. My view remain unchanged. I am a risk taker but would not like to take loans on paper assets, rather I can take loans for day to day biz, assets acquisition,.
Jim Ovia can cease to be on good book of JUBRIL AL Sudan Buhari tomorrow, and the whole zenith will suffer for it.
In a pro investment economy, one can take bigger risk but not in Nigeria... We are just too unpredictable.
CBN can wake up tomorrow and pass a directive 2020 that will forbid all financial institutions from paying dividends. It has happened before.
This and lot more make it a bigger risk for investors in NSE.
Do you think there is something we knew that the Foreign investors do not know that made them to be dumping Nigeria equities enmass, despite some of the companies reporting good mid year stellar performances?

I also have a misconception about Nigeria banks, there could be more to this their loans offer beside being forced by CBN to give out loans forcefully. One must know what to do with the loan apart from investing it in paper assets. I can see many people being trapped in the debt rat race. If I can access N5M loan with payment plan of 12 months with potential interest rate of 21%/yr.it means I can as well afford to invest N500k or less monthly and average excellently in the face of worsen market depression.
BY now, we do not need a crystal ball analyst to tell us that NSE will be static for the remaining part of 2019.
The government has not come out with a clear cut stimulus package or a good news that will stimulate the economy and productivity.
Bubu is only interested in closing borders.
FPI are exiting the market like never before. ($1b) exited in June and july.
We do not know if bubu policy will persists.
Vat has been returned on investments in NSE.
The next agenda for a directionless government will be increase VATs rate.
The chairman of FIRS was reportedly quizzed for dwindling tax returns.
We are all in the next level boat.
The breweries industry was dealt a tactical blow by bubu policy simply because the Muslims don't promote investment in alcohol. He imposed a heavy excise duty on them which severely eroded their profits. It is now a crime to manufacture alcohol in Nigeria. Expect more dumping of Equities in the breweries.
U have spoken my mind!
Investment › Re: Treasury Bills In Nigeria by aremso(m): 8:03pm On Aug 31, 2019
How much will one loose if one wants to terminate a tb of 15m at 12.85% for 250 days which matures on 13th of DEC. Kindly help sirs
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 5:31pm On Aug 30, 2019
Mpeace:
I think even at current price, zenith still has the best final dividend return to all of UBA, GTB, ACCESS and any other bank.
Agreed! I will rather do zenith 80% then others 20%
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 5:38pm On Aug 28, 2019
Mcy56:
Oga Aremso, the link to that document is here already, no need for this long epistle again.
No vex o.
OK ma
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 5:21pm On Aug 28, 2019
Forte Oil Releases Document On Take Over Offer -
investadvocate.com.ng Aug 28, 2019 3:31 PM



Background to the Take-Over Offer

On 24 June 2019, Ignite Investments acquired 970,166,694 Ordinary Shares representing a 74.02% equity stake in Forte Oil from Zenon Petroleum & Gas Limited (“Zenon Petroleum”), Thames Investment Incorporated (“Thames Investment”) and Femi Otedola, for a cash consideration of N66.25 per share. The acquisition was consummated following the execution of a share purchase agreement between Ignite Investments, Zenon Petroleum, Thames Investment and Femi Otedola, and the approval of the SEC and The NSE. The trade was executed on the The NSE on 19 June 2019 and the shares were credited to the CSCS account of Ignite Investment on 24 June 2019 in line with the T+3 settlement period.



In accordance with Section 131(1) of the ISA and Rules 445 – 448 of the SEC Rules and Regulations (as amended), Ignite Investments is required to make a Take-Over Offer to all the other shareholders of Forte Oil. Consequently, on 19 June 2019, the Board of Ignite Investments granted approval for a Take-Over Offer to be made to all Qualifying Shareholders, for the acquisition of the Offer Shares. A copy of the Board Resolution of Ignite Investments approving the Take-Over Offer is set out on page 20.

Pursuant to Part XII of the ISA, Ignite Investments is allowed to make an Offer for all or a portion of the shares of the other shareholders of Forte Oil. Ignite Investments desires to acquire up to 500,000 Ordinary Shares representing 0.04% of the total issued and fully paid up share capital of Forte Oil.

The Take-Over Offer, the terms of which are set out below, has been authorised and registered by the SEC.

Please read carefully Clause 5.9 on page 14, which sets out the procedures for acceptance of the Offer. Your attention is drawn, in particular, to the conditions and further terms of the Offer set out in Appendix I of this document and in the Acceptance Form.

The Take-Over Offer

Ignite Investments holds 970,166,694 Ordinary Shares representing 74.02% equity stake in Forte Oil as at 24 June 2019. Ignite Investments hereby offers to purchase, subject to the terms and conditions described herein, all or part of such Qualifying Shareholder’s registered holding of Ordinary Shares (as registered to such Qualifying Shareholder in the Register of Members of Forte Oil on the Qualification Date) subject to the following:

a) Under the Offer, Ignite Investments shall only acquire the Offer Shares of up to 500,000 Ordinary Shares at the Offer Price of N=66.25 per share (free of all commissions) in cash from Qualifying Shareholders so that its aggregate interest in Forte Oil would be 74.06% of the issued and paid up capital of Forte Oil; and
b) Notwithstanding the above, if the total number of Ordinary Shares comprised in acceptances or deemed acceptances from Qualifying Shareholders exceeds 500,000, then acceptances shall be scaled back so that Ignite Investments shall only be obliged to purchase a pro-rated quantity of Ordinary Shares from each such Qualifying Shareholder, being a number equal to:
In the event that this calculation results in a fractional number of shares to be acquired from a Qualifying Shareholder, such number would be rounded down to the nearest whole number.

The Offer is intended to enable all Qualifying Shareholders to participate, should they choose to do so. Qualifying Shareholders who accept the Offer will not be obligated to pay brokerage fees or commissions or any transfer fees or charges on their acceptance of the Take-Over Offer to the Offeror or the Registrar. However, Qualifying Shareholders are cautioned to consult with their own brokers or other intermediaries to determine whether any fees or commissions are payable to their brokers or other intermediaries in connection with a deposit of Forte Oil shares pursuant to the Offer.

The Offer Shares will be acquired pursuant to the Take-Over Offer free from all liens, equitable charges, encumbrances, rights of pre-emption and other third party rights of any nature whatsoever and together with all the rights now or hereafter attaching thereto, including, without limitation, voting rights and the right to receive and retain all dividends, distributions (if any) declared and any adjustment shares issued as a consequence of any corporate action made or paid after the date of this document.

The Take-Over Offer will be open for acceptance from 8:00 a.m. on [●] until the Offer Closure Time, being 5:00 p.m. on [●].

Consideration and Payment for Offer Shares

Ignite Investments will pay a cash consideration of N=66.25 per share to Qualifying Shareholders who accept the Take-Over Offer and validly deposit their shares.

The Offer provides an opportunity for Qualifying Shareholders who wish to sell their shares to receive cash consideration of N=66.25 per share.

The total consideration will be funded from existing cash resources held by or available to Ignite Investments. Ignite Investments has sufficient liquidity to fund the Offer.

Ignite Investments estimates that if it acquires all of the Ordinary Shares stated under the Offer, the total amount required for the purchase of the Ordinary Shares will be N=33,125,000.00.

Acceptance Conditions

Ignite Investments shall not be obliged to take up, purchase or pay for, any Forte Oil shares tendered by a Qualifying Shareholder under the Take-Over Offer (such shares being the “Relevant Forte Oil shares”) unless all of the following conditions are satisfied or waived by Ignite Investments at or prior to the Offer Closure Time:

The Offer shall have been validly accepted or deemed to be validly accepted in accordance with Clause 5.10 on page 14 and the Qualifying Shareholder(s) shall not have exercised their right of withdrawal in respect of one or more Ordinary Shares as at the Offer Closure Time;
The absence of pending or threatened material litigation, investigations or other matters in respect of the Relevant Forte Oil shares;
The representations and warranties of the Qualifying Shareholders set out on the Acceptance Form on pages 23 to 24 are true and accurate in all respects; and
The Relevant Forte Oil shares tendered are not subject to any charge, lien or other encumbrances.
Eligibility

This document is being sent to all Qualifying Shareholders. Qualifying Shareholders who prior to their receipt of this document have sold or otherwise transferred all of their shares in Forte Oil are requested to forward this document to the transferee, or to the agent through whom the shares were sold, for transmission to the transferee.

The Take-Over Offer is open to the Qualifying Shareholders who may participate in the Take-Over Offer by depositing and not withdrawing some or all the Offer Shares held by them (with respect to the withdrawal, this can only occur within ten days after the date of the Take-Over Offer). Offer Shares would be deemed to have been deposited pursuant to the Take-Over Offer if a duly completed Acceptance Form and accompanying documents have been received by the Registrars before the Offer Closure Time.

Dividends and Distributions

Subject to the terms and conditions of the Take-Over Offer above in Clause 5.4, by accepting the Take-Over Offer and depositing Offer Shares in accordance with the procedures described herein, a Qualifying Shareholder agrees to sell, assign and transfer to Ignite Investments all rights, benefits, title and interest in all the Offer Shares deposited pursuant to the Take-Over Offer including any and all dividends and distributions which may be declared on or in respect of the deposited Offer Shares after the Offer Closure Time.

Rights of Withdrawal

Qualifying Shareholders may withdraw some or all of the Offer Shares they deposited pursuant to the Take-Over Offer at any time until [●], i.e. 10 days after the opening date of the Take-Over Offer. Qualifying shareholders who wish to withdraw their Offer Shares must submit a written notification which should be delivered to the Registrars before 5:00 p.m. on [●].

Over-Subscription of the Take-Over Offer and Scaling Back

Following the Offer Closure Time, if the total number of Ordinary Shares comprised in acceptances or deemed acceptances from Qualifying Shareholders exceeds 500,000, then acceptances shall be scaled back so that Ignite Investments shall only be obliged to purchase a pro-rated quantity of Ordinary Shares at the Offer Price from each such Qualifying Shareholder being a number equal to:

Any excess Forte Oil shares will be returned by the Registrars to Qualifying Shareholders on a pro-rata basis to the number of Forte Oil shares deposited under the Take-Over Offer. In the event that the pro-rata calculation results in a fractional number of shares to be acquired from a Qualifying Shareholder, such number of shares would be rounded down to the nearest whole number.

Acceptance / Action to Be Taken

Qualifying Shareholders should read this clause in conjunction with Appendix I to this document. Qualifying Shareholders who hold their ordinary Shares in certificated form must dematerialize their shares via their stockbroker in order to be eligible to participate in the Take-Over Offer. The instructions on the Acceptance Form are deemed to form part of the terms of the Offer.

If you have any queries as to how to complete the Acceptance Form or require additional Acceptance Forms, please contact Veritas Registrars Limited, who is acting as the Registrars to the Offer, or Stanbic IBTC Stockbrokers Limited, who is acting as the Stockbrokers to the Offer, at their respective registered addresses set forth on page 10 of this document.

If you wish to accept the Offer in respect of Forte Oil shares, please return the Acceptance Form duly completed and signed and accompanied with the stamp and signature of your stockbroker, to the Registrars at the address stated on the Acceptance Form with the statement of your CSCS account as soon as possible, and in any event so as to ensure that the documents arrive not later than the Offer Closure Time.

Qualifying shareholders with corporate accounts will be required to present a copy of the board resolution authorising the verification of the CSCS statement and a signature mandate card in addition to their Acceptance Form. After settlement of the instruction, you will not be able to access the Forte Oil shares deposited in CSCS for any transaction or charging purposes.

Acceptances to the Offer may be delivered by post / mail, by hand (during normal business hours) or by such other method of delivery as you may determine. The method of delivery is at your selection and risk. No acknowledgement of receipt of documents will be given by or on behalf of Ignite Investments. The instructions printed on the Acceptance Form are deemed to form part of the terms of the Offer.

Neither Ignite Investments nor any of its appointed agents or advisers will accept or bear liability for any loss, howsoever arising, whether as a result of any fraudulent transfer of shares, forged / stolen share certificates, or any other fraudulent means, or as a result of delay, or failure to deliver an Acceptance Form or share certificate or CSCS Statements, or any other document required by or in connection with this document and the Acceptance Form before the Offer Closure Time.

Validity of Acceptance

Ignite Investments reserves the right, in its absolute discretion, to treat as valid in whole or in part any Acceptance of the Offer which is not entirely in order or which is not accompanied by the relevant CSCS statement and / or other documents of title. In that event, no payment will be made until after the relevant share certificate(s) and / or other documents of title or indemnities reasonably satisfactory to Ignite Investments have been received.

Qualifying Shareholders who hold Forte Oil’s shares in uncertificated form and wish to accept the Offer should note that only a duly completed Acceptance Form, with the statement of a CSCS account held by the Qualifying Shareholder attached to it, will be a valid Acceptance of the Offer if it is sent to the Registrars on or before the Offer Closure Time.

Ignite Investments shall not be under any duty to give notification of any defect or irregularity in any acceptance or the procedures for the acceptance of the Take-Over Offer nor will it incur any liability for failure to give such notification. Ignite Investments will not be bound by the Acceptance Forms received by the Registrars after the Offer Closure Time.

Settlement

Qualifying Shareholders who wish to accept the Offer must provide their active, complete and accurate bank account details on their Acceptance Form as payments for the accepted Forte Oil shares would be made by direct electronic transfer to the bank accounts of the respective Qualifying Shareholders.

Qualifying Shareholders who accept the Offer, will not be required to pay brokerage fees or commissions to Ignite Investments or the Registrars. However, Qualifying Shareholders are cautioned to consult with their own brokers or other intermediaries to determine whether any fees or commissions are payable to their brokers or other intermediaries in connection with a deposit of Forte Oil shares pursuant to the Offer.

In the event that the Offer is over-subscribed, and acceptances are scaled back in accordance with Clause 5.8 on page 13, Qualifying Shareholders should note that this may have timing implications and the settlement period may be subject to change or adjustment by the SEC.

Taxation

The taxation consequences of the Take-Over Offer will depend on the jurisdiction in which the Qualifying Shareholders are resident for tax purposes. Under current Nigerian tax legislation, participation in the Take-Over Offer should not give rise to any chargeable capital gains tax. However, this statement is not intended to be, and should not be construed to be, legal or tax advice to any particular shareholder. Qualifying Shareholders who are in doubt about their taxation position, or who are subject to taxation in a jurisdiction outside Nigeria, are strongly advised to consult their own professional advisers without delay as to the consequences of the Take-Over Offer in view of their own circumstances.

Plans for Employees

The Take-Over Offer is not expected to result in any changes to the terms and conditions of employment of the employees of Forte Oil. Where any employee does not wish to continue in the employment of Forte Oil after the Take-Over Offer has been concluded, such employee will be entitled to obtain the full terminal benefits due under his / her existing contract of service.

Deceased Shareholders

If any Qualifying Shareholder is deceased and his / her Ordinary Shares is in certificated form, the administrators of the estate / executors of the deceased’s may accept the Take-Over Offer by dematerialising such shares via their stockbroker in order to participate in the Take-Over Offer. The Acceptance Form duly signed and completed, with copies of the death certificate and a valid letter of Administration and any other document that Ignite Investments may require, should be submitted on or before the Offer Closure Time.

Foreign Jurisdictions

The Take-Over Offer is being made in Nigeria in accordance with Part XII of the ISA. Non-resident Qualifying Shareholders are advised that the legality of making the Take-Over Offer to persons resident outside Nigeria may be affected by the laws of the jurisdiction in which they reside. Non-resident Qualifying Shareholders are therefore required to inform themselves about any applicable legal requirements they are obliged to observe in their countries of residence, as the Take-Over Offer is not being made either directly or indirectly to any shareholder who is resident in a jurisdiction where it is illegal for the Take-Over Offer to be made or accepted or in which the Take-Over Offer would in any manner breach the requirements of such jurisdiction.

Further Information

Your attention is drawn to the copy of the Board Resolution of Ignite Investments approving the Take-Over Offer, contained on page 20, and which forms part of this document. Ignite Investments confirms its acquisition of the Offer Shares will not result in any variation in the total emoluments receivable by its directors.
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 11:23am On Aug 28, 2019
lancee:
I THINK ITS 30TH AUG
Many thanks, was thinking is 29th
Investment › Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 11:19am On Aug 28, 2019
Mcy56:
E kuu market o.
4.50 gang in UACN una wehdon o. 10M gang in Transcorp dey traffic. grin
Pls when is zenith dividend qualification?
Investment › Re: Treasury Bills In Nigeria by aremso(m): 11:24pm On Aug 23, 2019
Tumbulum:
A guy comes from a family who owns an airline and he personally owns 20 trucks. Going by your estimate he makes like 3 to 5 million in a week and then this guy is lamenting that he spent 250k in one night having a nice time with his friends. Sometimes I ask myself some important question. To what end is the continues accumulation of wealth when we are not even sure the day the breath of life will cease.
It is only death that can put an end to human pursuit.

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