DrAwo:
http://www.nse.com.ng/Financial_NewsDocs/30931_UNITED_CAPITAL_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FO.pdf

We have lift off...

opening salvo!

PETERiCHY:


UACN dividend just landed 3.17pm no withholding tax on mine.

BARGAIN HUNTERS TAKE NOTE

Check well o. They collected their 10% WHT from mine

Insightful...

https://www.unitedcapitalplcgroup.com/wp-content/uploads/2020/06/Nigeria-H2_2020-Outlook_Up-in-the-Air-.pdf

onegentleguy:


Let me help u.
The way to this is to apply the concept of the TIME VALUE FOR MONEY to know if ur better off collecting the bank loan. There are 2 key lines to verify this:
The 1st scenario is where u work for ur money while the 2nd is where u allow ur money to work for u.

SCENARIO 1;
The 1st thing u need to ask urself is; would that amount I'd receive from the bank/loan firm today be worth what I'd give back in 3 yrs?
Put differently, is the N708,508 I get today really worth the N947,880 i'll pay back in 3 yrs?
The idea is to look to ensure that u got a better VALUE from the "weight" btw the funds borrowed and the interest paid at maturity. That "weight" draws from the risk-reward margin.
Hence, we need estimate the PRESENT VALUE(PV) of that future value(N947,880) u'll pay to the firm at maturity, then compare it to what they're offering u now to see if its truly a worthy move.

...

Reminds me of ENG 212 (Engineering Economics.) @ FUTO 30yrs ago

megamart247:


Also pity those buying wapco and japaul with hope of rising.they are both falling knives

Must you comment?

Wetin Adamu no go see 4 gate!

http://www.nse.com.ng/Financial_NewsDocs/30603_ACCESS_BANK_PLC._CORPORATE_ACTIONS_JUNE_2020.pdf

HW is buying,

When he sold we shouted insider trading, cried wolf and saw imaginary red flags! Now he is buying, I hope we all start complaining

thesilentone:


The bolded


What did we learn from today's UK briefing?

Prime Minister Boris Johnson led today’s government press conference.

He was accompanied by the government's chief scientific adviser, Sir Patrick Vallance, and Peter Horby, professor of emerging infectious diseases and global health at the University of Oxford.

The government says that it has adequate supplies of a drug, dexamethasone, that has shown success in saving the lives of people who become seriously ill from coronavirus, including enough for any second peak of cases
The drug does not have an effect on patients who do not have breathing difficulties, but reduces the risk of death for those who require oxygen or ventilation
Treating eight intensive care coronavirus patients with the drug will cost £40 and on average save one life
Sir Patrick emphasised that the drug does not stop people catching the disease or going into hospital, so does not lessen the need for social distancing
Doctors can prescribe the drug from today, as it is already in stock in hospitals and can be quickly manufactured

Source: BBC

Didn't he mention that the success rate was about 35%

Dupeodus:


The game of the AIICO majority shareholders and managers is clear. They want to seize the rest of the company from minority shareholders. The rights issue is unnecessary. They do not need the capital. However, they will divide the unsubscribed shares among themselves because many minority shareholders may not be able to pick up the rights or forced to sell a portion of what they currently have to pickup their rights. Either way, they win. After all of these, they will reflect the true state of the company in their financials. Why the regulators will allow them to get away with this is mind boggling. From the point of view of a minority holder though, AIICO is a very low risk enterprise with currently a pe ratio of about 1.7 even if you base it on 11.3 billion shares including the private placement shares. This has not factored in any growth for 2020. The rights issue will further dilute this but it takes the pe ratio to 4.25 at 2019 earnings level. Growth will reduce this ratio further. It explains why they want to corner this company.

One might just buy their Rights on the floor if the bleeding continues till Thursday/ Friday


in anycase,
Have you explored the possibility of articulating your thoughts on media like nairametrics, proshare etc? Would they give it the time of the day?

Would there be any scope for litigation from AIICO?

onegentleguy:


U aren't missing anything bro.

Look at that part in bold...
Going by that extrapolation, an increase in EM by a factor of 0.63 will add an additional 52k to EPS and peg its 2020 projected estimate to approx N1.35.

Is this feasible? ...I think so.
Why? Look at AIICOs INSURANCE MARGIN, COMBINED RATIO and select key CF INDICES(CGPR in view).

That said, I also share in ur concerns.
The company's RED FLAG has always surrounded around its MANAGEMENT !!
...it isn't about management competence but about shenanigans.

The question in every investors mind will be; how can one look in on REWARD discounting RISK going forward?
Q2, 2020 financial print will give a clue.
Ideally, unless there's a positive direction with the part in italics, it'll be best to seek to exit before Q3.

Regards

Hence, my porting calls

bigjay01:




edit

after Rights, the O/S will be

11,330,204,480 (currently) + 4,357,779,954 (5 for 13 Rights)
=15,687,975,434

If the Rights qualify for bonus in Sept, (probably will, hence the shilt of the closure date to Sept. The Rights will probably have been listed by then), then the O/S will be

15,687,975,434*1.2 (1 for 5)
=18,825,570,521B

This has a massive bearing on the 'per share' metrics appeal of AIICO

BTW,
NEM O/S is 5,280,502,913
CUSTODYINS O/S is 5,881,864,195

Porting calls?

Mind you she had an EPS of 83k at the end of 2019. This laudable achievement was based on an O/S of ~6,930,204,000. Since then (19/02/20), the O/S has increased by a factor of 0.63 (63%) by the addition of 4.4B shares from Leapfrog.

In the very least, I as a shareholder, expect the money from LF to enhance their earnings by at least a factor of .63. Otherwise, their EPS will drop at the end of 2020.

Now, add the rights and bonus shares. I am looking at a massive drop in EPS for 2020.

#PortingCalls?

Am I missing anything? If I am, I'll stand corrected!

RichEstate:
Good morning great people. To whom it may concern.

bigjay01:


...

[s]Potential 29B O/S after all these shenanigans

This chic is fast losing her beauty (aka appeal)[/s]

edit

after Rights, the O/S will be

11,330,204,480 (currently) + 4,357,779,954 (5 for 13 Rights)
=15,687,975,434

If the Rights qualify for bonus in Sept, (probably will, hence the shilt of the closure date to Sept. The Rights will probably have been listed by then), then the O/S will be

15,687,975,434*1.2 (1 for 5)
=18,825,570,521B

This has a massive bearing on the 'per share' metrics appeal of AIICO

BTW,
NEM O/S is 5,280,502,913
CUSTODYINS O/S is 5,881,864,195

Porting calls?

http://www.nse.com.ng/Listings-site/corporate-disclosure-site/Documents/Market%20Bulletin%20-%20AIICO%20Insurance%20Plc%20Proposed%20Rights%20Issue.pdf

Potential 29B O/S after all these shenanigans

This chic is fast losing her beauty (aka appeal)

AIICO doing +10%

emmanuelewumi:



...

Same thing is happening with a company with 3% free float, dividend yield of 4.3% and dividend payout ratio of 100%. The core Investor will reduce his 97% total holdings to about 90% in order to comply with NSE directive, but he will do everything possible to sell at a high premium.

B
U
A

emmanuelewumi:




Abi oo, you don't invest based on hope if the figures are going south and the auditors expressed their doubts about the continuity and sustainability of the business

Could it be that Acces Bank 'seized' the dredgers for the majority of 2019, causing them to generate the paltry 800m? If this is the case, would the dredgers have generated a healthier revenue otherwise?

SirBen90:

I don't like owing school fees

Pay and free urself na.

BTW, if you fail to pass the NSE course, you'd have pay school fees a second time before you are allowed to resit.

Skymoore1004:
Guys I just joined this thread from US stock market. I would have started from page one but omo that’s almost 5k pages to go through.

Please no vex, can someone suggest the top Nigerians stock to buy and how many shares will be sufficient to see gain? Is the NSE booming at all like the US market? I am willing to buy stock of up to 200k if need be.

Please advise, thank you in advance

USD or N? (inclined to believe it is the former)

If I was starting out today, and I know what I know now, my focus will be on the Zenith, GTBs of the xchange.

Alhaji's companies do generally come good eventually.

I would avoid the pennies like a plague.

I am a long term investor so I focus more on fundamentals.

Be ready to take responsibility for your decisions.

ojeysky:


You need to provide more clarity. 200k japaul will be different from 200k nestle both in stock and amount

Marketapprentic:


In Peter's voice. This is a company that once traded at #7.
We are journeying back to #3 then take a rest.

BARGAIN HUNGERS TAKE NOTE

It is ok to dream, so no wahalla!

onegentleguy:
IMPORTANT NOTICE

I have been reliably informed that the UBA group has decided to make an early bond redemption on its fixed rate subordinated note(1st series), which was initially due for maturity in Dec, 2021.
...the early call date has been slated for June 30th 2020.

In retrospect, the bank will pay off all holders of the said bond their principal plus stipulated accrued interest(prorated @ 16.45% coupon rate) on the 30th of June and call off the bond series.
...thereafter, there shall no longer be any outstanding left of the series and it shall longer qualify to be re-issued.
The option for an early call was clearly stated in the bond prospectus, and so should not come as any surprise to the holders.

This is a great move from UBA.
2 clear benefits for the bank;

1) Conservation and growth of its capital through reduced CoF.
This is absolutely necessary given the decelerating yield environment in recent times at the back of the strain on the Naira from macro-economic challenges.
...in retrospect, the bank is looking to ensure that it can reproduce more from every Naira investment by pruning down attached cost.

2) To ensure that the banks recent growth trajectory is maintained and shielded from current global realities to avoid a dislocation in earnings and/or pressure in AsY/AsQ.

So the move makes a lot of sense. ...it also highlights the degree of the banks financial strength.

It is well.

Reliable on this top one kwa?

It is in the public domain na
https://vrs.africaprudential.com/l?d=hCpqyfYgTkmWAF_Y_dzmzvX5IFg93GNp7vS9EkcYeDILoHt2pADu_YWj4vda6boGRJlBowVaWBIX20QOyi045A,,

locodemy:


Will he because he bought at March low erase his 20% profit just like that?

20% at four different stocks,that's cool 80%.

He should open his eyes wide and watch.
Next week is Salah and from all indications, negative news abound in Nigeria and economy.

Oh boy we are talking %ages. So 20% in 1 million places na still 20%. Do the maths na. Na night school I go abeg.

TLAX:


You and the site are wrong on the BVPS as well. Correct figure is N39.76 as at Q3.

It pays to calculate yourself or get confirmation figure from another source if you want to adopt an analysts figure.

Correct!
(=82,092,899,000/2,190,382,819)

Godlylifeoneart:



Bra, I beg to differ.
The info on dz site has been my main guide.
This same info what was I used for Ardova whetit was down to year low.
Take the positive from their analysis.
Especially, the BVPS.
The financial report would not tell you the BVPS.
Not everyone got the dedication to be calculating bvps.
Moreover, the site tend to update companies information regularly.

A decent thing would be to edit the original post. We all make mistakes sometimes. The after action when the mistake is pointed out is the differentiator.

Godlylifeoneart:



As at yesterday, this info is available on easykobo.com

Very informative site

EasyKobo is not superior to NSE na!

Oya make I ask you, which one do you believe?

The forces of your submissions are always very palpable. I feel very sorry for those that take every analysis here as gospel!

pluto09:



Where did you get EPS of 4.46 and PE of 3.81 for Guinness.?
The EPS for Guinness as at q3 2020 is 62 kobo.

You beat me to this question. I was gonna pose same to him

AIICO CEO keeps buying

http://www.nse.com.ng/Financial_NewsDocs/30105_AIICO_INSURANCE_PLC._CORPORATE_ACTIONS_MAY_2020.pdf

Mcy56:

Maybe before the merger with diamond......UBA is not its mate now.....
My opinion oooo.

Access' Archilles heel is cost overun. Imagine if they can convert 20% of their gross earning to the bottom line

1kinggy:


60 stocks? All Nigerian or Foreign included?

I have 50+

rebekah2011:
The workers union is totally irresponsible to expect that their members would be paid as if all is normal. I do not like why it is difficult for companies to inform the market on the steps they have taken to remain afloat during this pandemic. It cannot be business as usual.

They must be living in cloud cuckoo land.
Even in this part of the world where there is semblance of sanity, my CEO has taken a 20% pay cut, we are conceding 5%.

http://www.nse.com.ng/Financial_NewsDocs/30087_AIICO_INSURANCE_PLC._CORPORATE_ACTIONS_MAY_2020.pdf

show of confidence?