₦airaland Forum

Sunrisepebble:
Sorry for my poor language, they were not fighting on twitter. Rather, I saw a video where Wike was talking about how he revoked their land on twitter. I had previously also seen the Minister of Works, Umahi, also having issues with them. If the Minister of Works is having issues with you, then that is your signal to exit. Then luckily I decided to rotate profit into another industrial sector player, Wapco, and the rest is history

OK. I get.
Anyway, it's still a fight.
I just wanted to know if there were other issues on JB I haven't heard of.

Sunrisepebble:
I had to quickly exit all my JB as soon as I saw Wike and co fighting with the MD on Twitter. Thank God I did so before it turned to full offer. It’s a shame really

Any Reason for the fight on twitter?
Is it on the revoked JB land asset?

emmanuelewumi:
I just hope say the attack on Julius Berger is not an indirect attack on Adenuga as he is the majority shareholder

But Adenuga's usually stagnant conoil Just did about 200% YTD.
and even joined the rally from BAT administration last yr..



I would narrow source of the attack down to the Minister of Works if there is any.


Though again a large asset-Land owned by JB was recently revoked by FCT minister for not being developed for 15yrs.
That's where the Judiciary quarters is being built. This may probably seem like an attack.

BabsO2:
Bought (planted) more seeds (Ellahlakes) at N3.40, 3.25 and 3.15 averaging down using proceeds from a stock sale. My driver for this purchase is Our growing population needs more big agricultural businesses. Does Ellah have the management that can deliver results ? I don't really know, time will tell.

You seem set for long term.
I agree with you on inverse proportion of population with food production.

It will eventually deliver..
Management and Major Holders should just allow growth to be as organic and transparent as possible especially at this beginner phase.

Streetinvestor2:
I have two betnaija stock at below 10 and above 10.That does not mean if I see the truth I won't say it about onado. I have more in IB and sugar and says it as I see in them.Not everyone that is hungry. And some people invested because of nse and not this thread.If any stock I will buy will only make it because of this thread.I will never buy such stock. I don't have japaul,unity ,present trantalizer,dogoyaro farm at the present financial because I don't like gambling with my hard earned cash

eee no easy, it's like shooting oneself in the leg
But I have to aknowledge the info-awareness it creates for those in the bus and those about-to; who may not have considered such cons Vs pros in making their decisions.

megawealth01:
The day Oando will enter #200 and above eh. Abuses go plenty for here

Azzin...eee go loud.
But still uncalled for sha.

GeeKudi:
They all have OANDO. Make dem dey play!

i don't know sha.
Buh it doesnt negate his posts.
Just found it amusing.

emmanuelewumi:
I shared information concerning red flags on a financial statement for the purpose of education and future reference, I never tagged any stock nah

This Oga!
Loll.....
na coincidence ba?

yMcy56:
ACCESS
https://doclib.ngxgroup.com/Listings-site/corporate-disclosure-site/Documents/Access_Holdings_-_SCB_Acquisition.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/42649_JULIUS_BERGER_NIGERIA_PLC-STATEMENT_ON_THE_ABUJA-KADUNA-ZARIA-KANO_ROAD_PROJECT_CORPORATE_ACTIONS_NOVEMBER_2024.pdf

Acquirers!!
Be like Aigboje come worse pass Wigwe(RIP)

KarlTom:
Ocean and Oil
Olawale and Omamofe
Over and Out
...

Sunrisepebble:
Pa Emma, you yourself stated that we can make money from stocks without fundamentals, when you used the state of matter metaphor. I dont think anyone buying Oando is looking for fundamentals.

Like I ve said before:

"Investors quoting traders and traders quoting investors".

ositadima1:
Debts and Payables to Oando Group

Oando Group's financial position highlights a diverse range of debts, payables, and obligations owed to the company by various entities. These debts span across subsidiaries, related parties, and external obligations, revealing the intricate financial structure of the group. Below is a detailed analysis:

Key Debtors and Agreements

OES Integrated Services Limited:
As of December 31, 2023, this entity owes Oando a total of ₦12,485,094,736.70. The debt originates from a Convertible Note Purchase Agreement dated October 22, 2018, which was part of a Management Buyout arrangement.

OODP BVI:
OODP BVI owes $2.6 million to Oando Servco Nigeria Limited. This loan, issued on February 10, 2023, was intended for "general corporate purposes."


Trade and Other Receivables

As of June 30, 2024, Oando Group reports ₦1,096,288,198 in trade receivables. These represent outstanding payments from customers for goods or services already provided. This figure underscores a significant portion of the group’s short-term financial assets.

Obligations from Related Parties

Several related entities owe Oando Group varying amounts:

Churchill C-300 Finance Limited: ₦2,388,035,000

XRS II: ₦2,069,077,000

Oando E&P Holdings Limited: ₦7,039,434,000

Oando Equator Holdings: ₦12,782,860,000

Equator Exploration Ltd (BVI): ₦19,578,178,000

Calabar Power Ltd: ₦63,405,340,000

Oando Exploration & Production Limited: ₦33,709,104,000

Oando Petroleum and Natural Gas Limited: ₦67,454,000

Road Bits Limited: ₦392,705,000

XRS I: ₦16,746,000

Lakel Afrik Petroleum: ₦525,000

Bitumen Resources Limited: ₦520,026,000

Oando Resources Limited: ₦50,748,456,000


Impaired Receivables

Certain receivables have been classified as impaired, meaning their recovery is doubtful. For example, Oando Servco Nigeria Limited has impaired its receivables from Oando PLC. These impairments highlight potential financial risks and reduce the expected net receivables.

Other Financial Obligations

Guarantees:
Oando PLC has issued ₦733.3 billion in financial guarantees to third parties. These guarantees represent contingent liabilities, exposing Oando to risk if the guaranteed parties fail to meet their obligations.

Welldone..Though I didn't verify.

How is OandO E&P Holdings limited owing->7bn
and its subsidiary:

OandO E&P Limitd (I suppose) owing->33.7bn.

Shldnt the entire Holding owe more than the individual subsidiary?

I may be wrong sha. Maybe it doesn't work that way.

gamaliel9:
On Seplat..

Does it pay dividend in dollars? If yes, does it mean my dividend mandate should be a domiciliary account [dollar bank account]?

it's converted to Naira and paid to you.

BabsO2:
Now that they have acquired Standard Chartered Bank Angola and Sierra Leone, Standard Chartered Bank Nigeria may be next
Perhaps that may be too big for them or too significant for the Standard Chartered group.

Smaller countries, smaller population, smaller rich people to sustain steep account opening barrier, hence sell-off

With Nigerias size, it probably has enough customers to sustain them.

As a Creditor, buh how do you convert your debt to equity for shareholders when you are also a debtor to other creditors?
How ur creditors go dey look you?

Well, as someone said, they are trying to balance their books first as the receivables has already been booked on paper.

Confusion everywhere..

Agbalowomeri:
With the wealth of experience on this thread, nobody still sabi wetin Wale dey up to Lol

I no even get energy to read am

Omo na the case of: The more you look, the less you see.

Agbalowomeri:
A book should be written on Wale the maradona

No be lie

[quote author=Omooloriredade post=133058198][/quote]Just to add my understanding. I have 2 propositions:

I suppose those debts to be converted to shares by related entities would at best be added to OandO negative equity, hence reduce its negativity or at best turn it to positive rather than a dividend payment.

2)
"Shares distributed to shareholders on pro-rata Basis"
isn't far from a bonus issue




Welldone to your analysis and the possible insights extracted.

-Those lawyers report just dey turn head.


#sidenote
-i bin dey try form OandO from ur LOoooong Monika.
try find an "n" and attach ASAP

yMcy56:
OANDO
So, Annual General Meeting is coming up on the 17th of December, 2024

Wonder why nobody has mentioned the attached Resolution 3 under the SPECIAL BIZ.....
**Is OANDO planning bonus Issue?
OR, Debt to Equity conversion?

** Either way, it's looking more like positive action coming from the company.... Restructuring is coming!**

** Some receivables owed O&O to be converted to shares and then distribute to shareholders...... Something like Oando shareholders also becoming shareholders in those companies......some kind of additional shares to be distributed to O&O shareholders??
Accounting gurus, over to you o......and don't bother to comment if you're coming with your negative mindset. 😁

https://doclib.ngxgroup.com/Financial_NewsDocs/42646_OANDO_PLC-_NOTICES_OF_ANNUAL_GENERAL_MEETING_(AGM)_-__ANNUAL_GENERAL_MEETING_(AGM)_NOVEMBER_2024.pdf

Pro-rata sounds more like a bonus issue thing.

bovali:
If you pay attention, you would know they have been on it for a while. We are just quick to forget. Current market cap is 250bn but Etuh, Danjuma acquire Notore Chemical for $150m (262.5bn at 1750). https://businessday.ng/news/article/etuh-danjuma-acquire-notore-chemical-for-150m/

All this after eroding shareholder equity.

true..eee tey wey ee start.
be like I forget.

listed companies go soon enter sub 100.

tayejay:
https://nairametrics.com/2024/11/26/notore-chemical-announces-kwararafa-africas-offer-to-acquire-shares-held-by-minority-shareholders/

haaa. Na delist ?

phadriz:
T-gain 😂

Sahara reporters na
#Table-shakers from inception.
Trust them by half..

lol... @T-gain.
Buh na until ee trickle down to the masses and we begin buy Petrol for ₦500 and even below sef. Then a full gain is complete..

Finance has proven not to be the issue over time but the will power to face the daunting challenges as they occur without giving up so as not to let the initial investment to keep it running be a waste.


Same thing is applicable and needed in the power sector.
A state of emergency with sustained and continues funding and will-power to keep driving its improvement until we reach at least a milestone(MW production OR improved transmission & distribution lines OR automate faults in lines, OR achieve about 90-95% metering of the populace, etc )

mikeapollo:
Not an achievement for BAT.
The contract/project for the repairs and overhaul of the PH refinery started long ago, under Buhari's administration.
You cannot be giving undue credit to any BAT

BAT may not deserve all the credit.
But he sure deserves the Will power to complete it spearheaded by Kyari.

Mpeace:
Anything pipeline is not good for business.
They will just do some illegal connections on those pipelines and that is food for the boys.

Sadly true.
But I read somewhere that DR has an agreement to transport Refined product through pipes as well with one Pinnacle company.

A direct connection from DR to proposed kaduna depot by Raider76 ain't bad.
Cost reduction, faster reach from South to North than through trucks n sea.
But again ur counter point is sadly inevitable in this country.

Toluway:
Sand is categorized as solid mineral

Shey Silicon dioxide?

If you watch and listen to this documentary as well read some YouTube comments beneath it, you will see the Indian case is much more terrible.
A penal code 498A does this damage.


https://www.youtube.com/watch?v=vKRAkw5RUdw

Sunrisepebble:
Average exchange rate of 160= N80,000. WoW. Honestly the future belongs to the risk takers. There is a post I ran across on twitter over the weekend, it was an individual who bought $30 worth of bitcoin every single day for the last 7-8 years. It came at a cost of $80k dollars but his portfolio is now worth $1m+

Sunrisepebble:
Average exchange rate of 160= N80,000. WoW. Honestly the future belongs to the risk takers. There is a post I ran across on twitter over the weekend, it was an individual who bought $30 worth of bitcoin every single day for the last 7-8 years. It came at a cost of $80k dollars but his portfolio is now worth $1m+

I think its easily possible for non-african based.
I won't think he/she is based in Nigeria.

But for a Nigerian-based, it looks easy on paper.
That amount of money within those years might be directly proportional to one's
BP level considering:
The FG clamp down, wallet hacks, limited-to-no Naira options in some wallets and exchanges,etc.


And if it's a Nigerian in Nigeria, he/she must really have the faith & grace to achieve such feat without BP pills.💪

BabsO2:
Excessive interest rate is simply a ponzi that helps no government / economy.

I think in economics there needs to be a cap on interest rate beyond which it self destructs the economy. I think anything above 20% is in the destructive range for monetary policy . Ideally it shouldn’t exceed single digit. Once 9% is reached other restrictive policies are needed. But current CBN governor calls that unorthodox polices

I tend to agree.
We're gradually heading to Zimbabwe level slowly.

Zagee:
The funny thing is I was first introduced to it back in 2014. I had scholarship money then and I just imagined what would have been if I plugged 70% of my total scholarship inflow into that programme.😂😂
Innocent me.

Other self development you have, you wouldn't have had it.
Unless you were naturally disciplined.
Youthful exuberance would have taken over.
You for even quit school😁.
Theres usually an unwritten or unseen trade-off with nature to these assumptions.

BabsO2:
You mean it was as cheap as N500 in 2012-13. Some will really be very very rich in it by now

sorry, i mean 1Btc less than $500 not naira₦

BabsO2:
You mean it was as cheap as N500 in 2012-13. Some will really be very very rich in it by now

sorry i mean less than $500 Not naira₦