₦airaland Forum

locodemy:
mpeace.can you see the work of numbers in prestige and AIico reflecting on their prices now.

union diac at 31 Kobo is a fair price.lets move it to 20/25kobo to make it attractive for money making.

mendes911:
Please don't take all these post personal. It's not necessary though.

MonkeyHunter:
Guilty conscience dey kill me so Bros a couple of questions for you?

1)Who asked you to help push the share price of First Aluminium to 70k - N1?
2)Is asking that you check the financials before taking a decision an invitation to buy the shares or is it an invitation to make an informed decision?
3)Is giving my interpretation of their financials commendable or an act to be condemned?
4)Has my theory that the company is need of recapitalization due to their interest expense been validated or not?
5)Will the management attempt a takeover of the company if they thought the shares are overvalued or that the company was not viable?

Now over to an analysis of the Takeover Bid.

It is clear that the Mgt is trying to be clever by half and steal the company from minority share holders. They see that the shares are grossly undervalued and that they can win any vote in which they partake in so why not vote to compel the minority shareholders to sell their shares at a grossly undervalued price. The Net Asset value per share from their 2017 annual report is about N2.45. This is what each share gets if you sell off all the assets (at book value N9,884,593,000) and pay of all the liabilities (at market value N4,721,675,000) then share the remained of the proceed (N5,162,918,000) between the shareholders (2,110,359,242 shares). This should at least be one of the the benchmark prices used in setting the takeover price in a sane society.

I am not sure that the claim by Nairametrics that the rules says that the price of a take over should be the maximum value of the shares in the last 6 months is totally correct.A fair value for the shares is determined using different approaches and offered to the shareholders. From experience the price is usually at some premium to the market price as specified by the acquiring company. Also there is a procedure for dissenting share holders to apply to court within a time frame for the fair value of the shares to be determined which is what they will be paid. This procedure is specified in section 146 and 147 of the Investments and Securities Act of 2007 as shown below

[b]147 (1)This section applies where a dissenting offeree makes an election under paragraph (b)
of subsection (3) of section 146 of this Act.
(2) The offeror may, within twenty days after he had paid the money or transferred the other consideration under subsection (6) of this section apply to the court to fix the fairvalue of shares of the dissenting offeree.
(3) If an offeror fails to apply to the court under subsection (2) of this section, a dissenting offeree may apply to the court for the same purpose within a further period of twenty days.
(4) A dissenting offeree shall not be required to give securities for costs in an application made under subsection (2) or (3) of this section.
(5) Where an application is made under subsection (2) or (3) of this section-
(a) all dissenting offerees who made an election under paragraph (b) of subsection (3) of section 146 of this Act shall be joined as parties and bound by the decision of the court; and
(b) the offeror shall notify each affected dissenting offeree of the date and place of the application and of his right to appear and be heard in person or by counsel.
(6) Upon an application to the court under subsection (2) or (3) of this section, the court shall fix a fair value for the shares of all dissenting offerees who made an election under paragraph (b) of subsection (3) of section 146 of this Act.
(7) The court may, in its discretion, appoint one or more than one independent valuer to assist the court in fixing a fair value for the shares of a dissenting offeree.
( The final order of the court shall be made against the offeror in favour of each dissenting offeree who made an election under paragraph (b) of subsection (3) of section 146 of this Act and for the amount for his shares as fixed by the court.
(9) The court may, in connection with proceedings under this section, make an order, if it thinks fit and, without limiting the generality of the foregoing may :-

(a) by order, fix the amount of money or other consideration that is required to be held in trust under subsection (6) of section 146 of this Act;
(b) order that money or other consideration be held in trust by a person other than the offeree company; or
(c) allow interest at the current bank rate on the amount payable to each dissenting offeree
from the date he sends to the offeree company his share certificates under subsection (5) of section 146 of this Bill until the date of payment. (10) Where the amount of money or other consideration fixed by the court under paragraph (a) of subsection (9) of this section exceeds that held on trust pursuant to any payment or transfer already made under subsection (6) of section 146 of this Bill by the offeror, the offeror shall :-
(a) make to the offeree company any payment or transfer necessary to comply with the order, and subsection (6) of section 146 of this Act shall apply in relation to the amount so paid or transferred; or
(b) if the court made an order under paragraph (b) of subsection (9) of this section, make that payment or transfer to the other person by whom the money or consideration is to be held in trust.
(11) Where the court makes an order under paragraph (b) of subsection (9) of this section-
(a) the order of the court shall operate to divest the offeree company of the money or other consideration subject to the trust and to vest it in the person named in the order on the like trust; and
(b) Subsection (6) of section 146 of this Act shall apply to money or other consideration paid or transferred pursuant to paragraph (b) of subsection (1) of this section to that person.





[/b]

Krisuba:
Please is trading on strike too?

Infinitisi:
What is the likelihood they will go the MTO route?

Mpeace:
I think that makes it a good buy. For this reason:
"For retail investors, the situation could most likely lead to a mandatory tender offer (MTO). Under NSE rules, the tender offer would be at the highest price in the last six months before the MTO was announced. This would most likely be in the region of N0.55 per share."
Culled from the quoted site.

fxuser:
Sterln bank
- (putting the yeye MM volume behaviour aside)
- SP breaking into month 4 high
- monthly macd above zero line
- monthly RSI holding above 50
- SP breaking back above 50dma & 200dma
- even d 50 dma is curving back to break above d 200dma
- weekly MACD breaking above the sig line
- BB squeeze with price breaking above the mid line
- daily macd rising above the zero line join ehn ehn . .
and be be lo


#JustObserving

onegentleguy:
My dear leave those Ogas.
People need to ALWAYS read btw the lines. I know a lot of them who are keen to buy, and are looking out for a price drop.
So u should expect that their views will be inclined in that direction. ...we know this things.

CAVERTON is NOT down. Price is still at the opening band of N1.93. No intraday day band yet. (high or low)
I am already very 'weaponized' to ACCUMULATE MORE if price drops. ...I WISH it does, 'cause whatever happens we are still very much in sweet zone given our average entry price.

People WILL LOOK out for this stock at a far higher premium, BUT will not find it !!

currentprice:
that is the main concern, if they have this kind superb numbers why taking them much time to release. even with Audit

currentprice:
if the result is true. then the bank is the cheapest on nse

kolaish:
EPS 41K AS AGAINST 31K. Not bad as envisaged.

Chibuking81:
https://www.premiumtimesng.com/business/business-news/285181-nse-suspends-trading-on-skye-bank-shares.html
Change of ownership is not complete bye bye Janet. Suspension of Skye bank share trading on the floor of the exchange is not the end of the road, once the suspension is lifted, their share will only go down, maybe to around 40kobo - 20kobo before picking up again, this time under Polaris Bank.

When Intercontinental and Oceanic bank was acquired, both their shareholders forms part of the shareholders of their new bank.
But come to think of it, who is the owner of the newly Polaris Bank? Nigeria government and its politics.

wanaj0:
FA also look at facts behind the figures.

Without seeing the results of betnaija I could see that they are doing well.

veecovee:
It's ok ... just that too much of everything is bETTER...

Olohunjedalo:
What’s the fate of Skye bank share holders now please

Mcy56:
This your subject get as e be.
Are the three witches Fidelity, FCMB and Skye?

Mcy56:
Lol. It is well. Im just pulling your legs.
Notwithstanding however, never say never in NSE. Since banks have joined politics with their operations, we should expect more of the scenario. It's a pity.
Sir Chibuking81 was right in some of his comments above. Its politics playing itsrlf out.
Imagine 19 aspirants jostling for governorship seat in Borno under APC alone, PDP getting ready to give them a good fight as well. Don't you see that wahala dey?
It is well o.

Yayira:
E never reach oo.

Agbalowomeri:
Eku skye bear market o

Caverton to the skye straight

Yayira:
Strong buy on Skye bank.. technical indicators on Investing.
The news never reach them.
Ok

Yayira:
They are far better oo.. let’s just give them time.. at least you’ll not wake up one day and see their obituaries..
All these ones selling assets up and down [i]na money for burial them dey gather so.[/i]

dipoolowoo:
Yes, and the Sept 8, 2018 post of Coolcash1, "Skye might be fully nationalized soon as recovery and repositioning efforts by the CBN appointed management have failed in turning the bank around...Most of their debtors seem to be stronger and influential than the management."

Yayira:
Actually No long term investment in dead stocks for now you should be saying.. and also the ones dead and trying to resurrect.. No go close..
Skye bank was on life support we all knew that but choose to gamble our money because of greed and fast %%%..
Someone once said why will he buy big caps that can not give him fast 20% ? Well this is one of the reason why we should always go for good fundamental stock and always follow up with them.. any moment their results go missing, you go missing with your money too.

I want to use this opportunity to thank CP
Cp for asking me what I’m doing in Skye banksnd Wema..after that comment, l login and sold my 366 million units @ 50, receiving an haircut of 900k... you spoke sense into me.
God bless you..
900k is better than 2.7 million.

Lol nowadays I’m missing the old CP that’s why I’m always @ you. Please bring back the old CP with real talks (FA and FP)


Hmmmm people are wicked they released 2 year results and promised to release the rest when in fact they knew the bank is gone.. MY GOD !!!

dipoolowoo:
On Sept 7, 2018, a member of this group posted a link, https://zerodha.com/varsity/, on this platform.

My advice to the NSEMPA family is to take time to go through the link, especially new investors here, to have a better understanding of the stock market and the red flags to watch out for. Even gurus can check it out, you might learn something new.

It is really unfortunate that minority shareholders at the stock market are used like pawns in the game of chess.

Northeastern:
You people should help us drag FBNH to our region, me and my household are waiting at 5.

At least if I buy there and it gets to 3 I'll be losing only 40%. I can sleep with my eyes closed with that.

Yayira:
Why diamond when wema is still there ? Abeg make understand oo..

mendes911:
Have you not heard of "damaged beyond repair"? The new management tried but the rot and sink hole cannot be repaired. And they gave in.