₦airaland Forum

mikeapollo:
Actually, Wale mentioned that cash was paid to former shareholders, and this had been confirmed years ago at previous AGM and in press releases

That’s a different shareholder that was bought off to forestall him brouhaha escalating. And that shareholders name was reported in published annual reports. This current share distribution is a different shareholder that took money from O&O group and didn’t or couldn’t refund the money but rather relinquished shareholding.

emmanuelewumi:
If used for FUGAZ the cheapest bank will sell for over N100

Bank shareholder funds face a higher risk to erosion from ops than other stocks. But with the way MTN and DANGSUGAR SHF turned negative between quarters each business need to valued differently by analysts. I know you know but just trying to have a laugh

Streetinvestor2:
Why use that metrics on this sector. Use it on the banking sector and see how it is not realistic. Do for access bank with gtbank

I think banks a different kind of account and risks. I guess that's why accounting standards have been upped for them as well as for other companies too. Plus for the Banks central banks also do their own audit and checks on top of auditor audits. Looking at TOE and the way he executing UBA capital raising as he is heavily impacted. It should suggest that banks are currently under-priced by the NGX. Also looking at the first and 2nd GTB capital raise it is clear good banks are underpriced. For those not following closely the N44 GT capital raise last year was not fully subscribed. Yet they got a successful LSE capital raise at nearly double that price.

emmanuelewumi:
Since it is not yet profitable why dont you use Price/ Sale.

Compare the revenue to market capitalization. Average Price/Sale ratio in the sector is currently 3.5

You know it has not entered maturity for price to sale now. But price to book doable at a discounted rate for risk of earnings not materializing. The discount rate to use is the call of the investor.

mikeapollo:
Again, he explained that Oando experienced negative equity balance because they had to refund to a former shareholder the equivalent of over $500m, otherwise there wouldn't have been negative shareholders fund.
The shares returned (by the former shareholders) are the ones now being redistributed to exisitng shareholders.

Wale is doing well for distributing the shares to shareholders instead of using it for capital raise. Pray he succeeds with the turnaround and continue to be good to shareholders going forwards by streaming dividends that he talked about at the 2023 November shareholders meeting.

Streetinvestor2:
I want to engage since u even bring out numbers.
Since u talked about eps.
Pls what do u see as possibility using 3 tonnes capacity of mill at full operation can give in future to eps based on Os in 1-5 yrs

It's easier using book value per share to estimate a fair value for ELLAH lakes which I already did at current book value earlier this week. With the way PRESCO book value jumped between 2024FY and 2025Q2 I will not be surprised to see a jump in ELLAH BVPS at the end of July. EPS will follow thereafter this is my speculative bet on ELLAH. And it seems market is supporting this bet with the way ELLAH share price is rising. Time will tell.

.

megawealth01:
I'm not telling you to do same joor. This is the first time I am saying this strategy in public and I have my reasons

My left over ELLAH alone is FORTUNE on its own. I'm intentionally INTENTIONAL in this GAME 🎯

Easy 9 digit naira left over

SonofElElyonRet:
Yes bro.. you are disciplined. Make I still leave my own.. I'm dreaming big. Na N3.30 I kuku enter

I think you should be fine. Those of us that took some insurance (took some profit) are finding the insurance relatively expensive with the way ELLAH is charging ahead. As we are not currently multiplying as fast as we could if we did not take a dime of profit. We can console ourselves of not being too greedy

chimex38:
I want to believe Ellah lakes can't do magic to reflect the current price in the forthcoming Financial statement. But I also want to believe they will produce an improved, modernized and worth presenting financial result. Compared to last year.


Remember, results are compared Y-on-Y and Q-on-Q.
FY2025 should be better than FY 2024 in percentage.

It's possible ELLAH will come up with higher book value per share as they could revalue their biological assets. And that could be a driver for the sharp share price rise. In my post earlier this week i showed how PRESCO book value has been rising sharply even between 2024 full year and 2025Q2 perhaps since ELLAH used presco seeds their book value will just start shooting up followed by shooting up in earnings per share in years ahead.

nosa2:
The price I am willing to pay is based on the valuation of the company not the listed price.

Valuations are dynamic.
2025Q2 book value for PRESCO is N230.
2024 Audited was N133
2023 was N74
2022 was N34

Oil Palm Biological Assets are just multiplying at the rate of growth of seedlings.

If Ellah currently has a book value of N6 from last quarter you can project what that book value will be in a year or two if their palms have started fruiting. Presco's market price is about x6 its book value. That should help you with projected market value for Ellah if things go well as planned. If I use x4 current book value then Ellah is a N24 stock some months ago

Word of Caution:
OKOMU book values have not risen like that of PRESCO, Perhaps PRESCO has a larger stock of trees at that are maturing while OKOMO has older stock of trees in steady state growth.

mikeapollo:
You have not explained how the jet engine would enhance the operations and improve profitability of Oando.

Are you joking those are metaphors to represent the turnaround taking full shape with positive shareholder funds milestone etc. I have not downloaded the AGM and EGM videos for watching. But someone mentioned yesterday that Wale talked about resuming dividend payments at a time ahead.

Umehj88:
The mill

This ELLAH mill is looking bigger than 3 tonnes o. No wonder the price is flying higher and higher.

mikeapollo:
Jet engine ke?
What kind of jet engine and what is the relevance or potential impact if overhaul is successful?

Once the turbine blade that is showing a crack forming in the X-ray is replaced successfully it’s a smooth ride to 3 digits. But will a replacement blade be found? By the time a replacement blade is found, market will even start upward price adjustment.

Oando jet engine undergoing overhaul. Waiting for Q3 results to take off if overhaul is successful.

Stockhunter:
Flesh and blood did not reveal this to you.. 😊

Very very heavy funds in Linkassure in the last five trades in strategic accumulation. No TA can say when they will stop, only the strategic buyer has the say. N2.5 or N5 bus stop. Only the strategic buyer makes that call.

SohSoh:
Ladies and Gentlemen of this NGX Forum....please join me as i take ... Mr crown prince too school ....

My Personal Advice AFTER YOU SEE THIS PLEASE GO N BUY ELLAH LAKES AND LET ME CONTINUE TO GBAS GBOS THE ELLAH LAKES EVERY MALLAM TO THEIR KETTLE ... the stock price went up well over 200% so make i just dey yan and misyan

Investor wey no dey read....

1 : Picture 1 attched :: This news article here from 2018 is an overview of Ellah Lakes, its business and competitors.

Ellah Lakes claimed to have been in the oil business since 2018... It is stated here in n the news.. but I'm not going to focus on that.


Competitors Listed : Everest Farms Limited : pictured attached produces or product from Everest Farms.


Point 2/3 :: in 2022 Ellah Lakes took over Ada rice from Enugu state Govt, no pictures or produce of the rice... from Them ... Picture attched Rice by Lagos State Govt... cos should know if Enugu produced the rice. . The then governor would have wanted press to cover it...


Point 3:: in May 2019 Ellah lakes took over Telluria Farms.... a company they claimed is into Palm oil production...

But in 2024 Ellah Lakes declared zero revenue.....

I'll stop here the matter too much .... see after you see this PLEASE GO N BUY ELLAH LAKES.... EVERY MALLAM TO THEIR KETTLE

Before Thomas Edison got the combination to give us the first light bulb it literally took him a thousand steps/trials. Many new ventures spring up but all do not succeed. Also Elon Musk's Tesla was not his first Entrepreneurial venture. So YES Chuka and or the Leadership of Ellah may have had some false low ambition and high ambition starts. With persistence they could hit it real big. However they need to improve their bookkeeping practices going forward. That's my take. With PRESCO and OKOMU they now have a charted course to learn from with respect to exploitation of Oil Palms. Wish Ellah good success.

Umehj88:
Is this the mill

And a glimpse of our oil palm plantation next to the mill.

SonofElElyonRet:
I'm approaching 4x
Let the controversy continue

I am on more than x4 too on Ellah. Offload + unboard

Locotrader:
Japaul did not allow you to rejoice with us the insurers.

I am also praying for you @ that Japaul

Oando needs prayers for the party to start again, this time for the three digit milestone.

Locotrader:
Universal arrived N1.
If this stock will meet up with recapitalization,should do nothing less than N5.

This means insurance sector will dominate till the end of this year.

Cheers to all in various boats.

Una go buy venza and build Duplex very soon

Buy the latest venza, it’s hybrid, sleek portable and beautiful. Not those old fuel guzzlers o .

Why now, which TA signal is sensing this. Let every bag in the NSE portfolio rise well well joor

KarlTom:
This insurance rally will fizzle out as early as tomorrow...

Every mallam to his kettle

toyeoye:
Market is open and while the insurance stocks have hit the ground running, Oando is retracing...

Big 9% down now. The food cooking is no more on fire, turning cold

Agbalowomeri:
I knew that was the game plan all along. Otherwise, which one be tranche 1 tranche 2 Lol when all the shares are available for distribution

Since they cannot pay interim and final dividend to reward shareholders, they are rewarding shareholders with growth in their shareholding pending when interim and final dividend will start gushing in.

Dangote port coming to Olokola

GeeKudi:
From the press release by Oando following the H1 report:

"We are pleased to announce that the distribution process has now received all necessary regulatory approvals, including clearance from the Securities and Exchange Commission (SEC). With these approvals secured, Oando confirms that the Tranche 1 distribution is expected to be completed on or before August 8, 2025."

Received tranche 1 in CSCS.

SAK:
CI leasing just keeping going down.

I think CILEASING is consolidating at +/- N7. To me the business in in great health. Profit takers and those that need money will pull down the price from time to time till new data show clearly its earnings level has risen to new levels. With a book value of N15 even with the diluted shares which some are selling (pulling down price), I think the business should be good for the medium term with a market price trending towards its book value as a minimum.

I think the market is watching how debt and profitability will play out going forward.

### 📉 Debt Situation at C & I Leasing (CILEASING)
CILEASING’s **Total Debt to EBITDA ratio** currently stands at **6.0x**, which is relatively high. For context:
- The **industry average** in the same sector is around **3.8x**, with a median of **2.4x**.
- This places CILEASING in the **top quartile for leverage**, meaning it’s more indebted than most of its peers.

This level of debt suggests the company is **highly leveraged**, and while not necessarily alarming, it does mean they’re more exposed to interest rate fluctuations and refinancing risks.

### 💸 Finance Costs vs Profitability
Here’s the catch:
- With a **high debt load**, **finance costs** (interest payments) can eat into profits — especially if earnings don’t grow fast enough to offset them.
- In 2024, CILEASING reported **₦36.74 billion in gross earnings** and **₦1.6 billion in profit after tax**, which shows they’re still profitable.
- However, the **thin margin** between earnings and profit suggests that rising finance costs could **erode profitability** if not managed carefully.

### 🧠 What to Watch Going Forward
- **Interest Rate Trends**: If rates rise, finance costs will increase.
- **EBITDA Growth**: If earnings grow faster than debt, the ratio improves.
- **Debt Restructuring or Paydown**: Any moves to reduce debt would be a positive signal.

crownprince2017:
If you are serious about your money, try to do findings beyond social networks, go see where it's happening.

The board might want to eat deep into the company but surely they have the result you can not see on the Internet.

If you are truly investing for the long term I can assure you that u re sitting on a gold mine based on what I know.

Note: I still don't know what they want to use the 250b for, at least for now.
I believed most of it will come from private placement.

It indeed looks like they just need shareholders for the approval and are not looking up to them to source for the money as the money looks like it’s round the corner to just. They seem more interested in PP and not rights. That is the feeling I get. Whoever provides such funds will likely know what they doing.

ndept:
Gbam. You hit the nail smartly on the head. Even, majority of those complaining here about insider trading will do worse if they are in the position of those they are accusing of insider trading now.

Please tell me, from where do they think the Elumelu wife and family got their information from before accumulating transcorp shares when it was trading around N1? If not from the CEO himself. Is that not an indirect way of Insider trading?

That’s a wrong example of insider trading as such trading were fully reported for us all to see and make whatever meaning we want to make of it. By either joining in buying or watching like a spectator. Also such trading is often restricted to periods after the results have been released while trading is not permitted for them while results are being compiled and vetted.

Bbbwings:
Anybody sabi FCMB. Why the stock no move like other banks.

The last PO weight is too heavy. Too much dilution. Poor PE. However with recent bank share price rallies perhaps its PE is relatively not poor again. However the its last PO brought too much dilution.

Umehj88:
.

Nah inside the premises I dey I only post what I see. The other one didnt have a compound just front view

They need to spend some money to pave out that water puddle

mikeapollo:
Another clever, plausible perspective

The N50 you estimated is also plausible in event of a poor not exciting H1. This low market price related valuation may end being used