₦airaland Forum

beejay1:
Good evening, how do I report a registrar who has refused to pay me my outstanding dividend for over 3 months after first contact? Is it CSCS or SEC?

SEC - ultimate regulator for the capital market.

Hopefully, you have written reminders to the registrar after first contact.

KarlTom:
It won't be available today because the listing officially takes place after close of trading...

The listing would be before the gong is hit (market closing ceremony about 2.30pm). The symbol is already in place. Some trades would be executed, most likely at 264 (10%^) and would most likely be closing price. Yes, it won't be freely available because it would close on full bid.

Emeka1441:
true.. what would be your fair entry point if you wanted to purchase power

Guessing and for speculation, a price below N400.

However, I would have a fair/reasonable value for TPower when I see the financials and details of the company.

Emeka1441:
una dey scare me.. we no go see am buy nii?😩😩😩

There's nothing new there. Nothing to be scared about. You wouldn't see it to buy initially, but some others would be able to buy. Ahead of you in the queue or privileged. Demand would outstrip supply in days to come.

You wrote you're new to NGX. I would advise you observe and learn how the market works before panicking and making far-reaching conclusions.

Transcorp Plc. Transcorp Power.

The BOD of Transcorp Plc (TPlc) was already empowered by an AGM resolution in 2022. I guess the BOD meeting last December was to put into action possible strategic plans, sooner than later.

TPlc already had ~52% of TranscorpPowerLtd and 95% of TransAfam (I guess merged to form Transcorp Power Plc (TPPlc). Ordinarily, TPlc should have at least 73% shares of TPPlc, retaining the subsidiary status. By 2022 FYE, TPlc received about N10billion as dividend from the power business. Dividend income would continue to accrue to it in proportion of its shareholding.

The real advantage in TPPlc is the projected share price appreciation. Initially to the erstwhile minority shareholders in TPlc's power businesses; then the early birds who will be privileged to get the stock on NGX to meet listing requirements, in the coming days.

KarlTom:
Possible. Someone's head might roll for such an error...

Man's shocked being a newbie...

😁 He should not be worried. Must have been an error the broker made. He should just be sure he doesn't take any of the costs.

To be certain, he should call them on what he observed. The firm could have just crossed the whole units to their portfolio and sell from there. But I guess trying to cut costs/losses.

KarlTom:
Same question I have been asking.
Could be hackers too...

More likely human error inputting the wrong bid units than hacking. Example, broker keys in the CSCS account number in the volume field instead. Not new.

Looks like they sold directly from your friend's account. He should check his statement so they don't pass any of the costs to him.

thebargainhunte:
The response I got when I tried downloading it.

The NGX disclosure page:

https://ngxgroup.com/exchange/data/corporate-disclosures/#

Click on the disclosure to read the latest. Click on the company to have access to more info about the company.

RSQLPython:
This was savings from salary over the years.

To have saved up to N100m from salaries over the years, your bank account officer should have at least mentioned fixed deposits to you (higher rates than savings account rate) for better returns.

If to say you write N100k, many for fit advice because e for make more brain. Many of us started this shares journey with about 10k or less. Building up gradually.

nwetadinobi042:
I'm new to the stock exchange. Please all I'm asking is if I can use as many brokerage apps as possible with my unique cscs number?

You can use as many brokerage apps as possible but with as many CSCS account numbers as the apps. However, you can have a unique Clearing House Number (CHN) for all, given that all the accounts KYC details are the same.

I have assumed that the apps are from (linked to) Nigeria SEC licenced stockbroking firms.

dangle:
What a loss! Wigwe, his wife and two of his sons including Abimbola Ogunbanjo, NGX and Betaglass Plc chairman were on board the chopper that crashed.

https://www.usatoday.com/story/news/nation/2024/02/10/helicopter-crash-nipton-california-near-nevada/72551755007/

https://saharareporters.com/2024/02/10/update-access-holdings-ceo-herbert-wigwes-wife-two-kids-also-dead-us-helicopter-crash

Sad news to their families, Access group and the finance world here. Access lost their Chairman not long ago.

This life sha.

You are all calculating your returns on investment, which should be primary focus of any investor. However, in finance, certain words/phrases are specifically defined and computed in specific ways. Na grammar. Main thing is how much you're making from how much you invested.😁 Planting. Harvesting. Sowing. Reaping.

essentialone:
Na me dey do am. Volume traded in the past 3 days are: 157,602, 102,800, and 193,200.

Soon, e go catch fire.

You boldly own up to manipulating a stock? Even though it's a faceless forum, you can easily be fished out.

Find out what happened years ago in AP. FO. AD. EA. and consequences (slap on the wrist because of persons involved).

Selah.

Laso09:
People might be looking at time factor.
DS shareholders will have their share automatically converted to DF while those in NASCON might have to wait for theirs to be listed which might take some time.

Not really. Nascon first becomes DS, then all become DF same day.

Nascon (and most probably DS) would release their audited financials by end of February. The court order to sanction the merger would come in and I suspect they could include the sanction as a resolution to be passed at the next AGM (if allowable). Deal likely consummated Q2. Patience. We wait.

Locotrader:
Okay, now I understand but Wale is smarter than you.
Knowing well the 2023 results will be okay, Wale will only release his 2022 calamity in this 2024 and as the case lingers, the 2023 results will also linger.Cant you see we are in for a long thing if we continue to rely on 2023 result?

Audited 2022 and 2023 FS would likely be released together. This year. AGM for both years held same day.

Mankind2024:
Bra, there is no excuse for the daylight robbery executed by GSK.
Delisting, but continuing business via 3rd party is a technical language.
This simply means, the real estate and other immovable assets belongs to the majority shareholders.
The minority shareholders only got paid out via cash and cash equivalent.
Lawyers and business language always create the scene of "the more you look, the less u see"
A kind of Technical abracadabra. I scanned the internet for relevant information, the cash paid as GLAXOSMITH-DIV_48 from GRDS/GSK SOA 48:WEMA was from cash and retained earnings, this technicality is new.
Just ask, where is the profit from the 3rd party business going to?
GSK DELISTED BUT WOULD NOW CONTINUE MARKETING AND SELLING OF THEIR PRODUCTS VIA A 3RD PARTY VENTURE"
There was a catch here.
We pray Wale would not use same technicality.
Already, the statement is now showing the group vs the parent company, the extent of the group relationship with the parents is not known to SEC talkless of minority self investors.
Overall, there is a remarkable improvement in corporate filling.

The real estate and immovable assets have been transferred as Held for Sale (Note 15) and to be disposed asap. Proceeds will be available for distribution to ALL shareholders after taking care of liabilities.
Now, I think it's a win-win for ALL shareholders. The majority shareholders had to forgo part of amount owed them (N2b) so as to 'pacify' minority shareholders with early cash distribution (N17.42). But they will now pay themselves outstanding amounts GSK Nigeria owed them (~N13b). I think those close to the asset disposal deals might be able to buy those assets at good rates since GSK is trying to dispose as soon as possible.

The 3rd party company will now import GSK products for sale/distribution in Nigeria. The 3rd party firm might likely be owned by Nigerians. This was what played out when CIBA left Nigeria. Nigerians (mainly former staff/management) formed a company to exclusively represent them here. GSK I think just wants to avoid the intricacies/risks/headaches of operating directly in Nigeria. Let the local firm take the wahala. You want their products, you get an LC from your bank (or agreed terms), they ship out, you take care of all the running around to get and sell their product. You pay them as agreed. No be their business with wetin dollar be, etc. It's a valid business model.

I am not standing in for them. Just stating it as it is.

Wale and Oando are on another level. Lol.

Hedgefunds:
Sale of real estate asset.

They had/have no real asset sale of 4B in the financials. I can't see it.

Hedgefunds:

how did you come up with 0.77k ........

0.77k from almost 4B naira real estate and others asset ...na...that robbery

~77k = (Q42023 Retained Earnings balance divided by shares issued)

Where did you get your 4B?

Demaxl:
How do i get into stock exchange as a beginner?
I am a student and I want to get into the market

Would be cool if you can start investing early, even as a student. Many people didn't have that opportunity.
First, get to know more about the capital market. KNOWLEDGE first. It is primarily for long-term investments. Marathon-like. However, if you learn some more skills on the flow, you can also play on the short-term end like trading but I will advise first focus on the long-term.

Open a stockbroking account. Go with those that have online platforms. Invest regularly (say monthly/bi-monthly/quarterly), as much as you can afford to invest for the long-term without affecting your primary/immediate goal of education. Reinvest your earnings as much as possible. I think some firms accept as low as N5,000 to be invested.

Know that it's not a get-rich-quick scheme. Sometimes, you could have good returns fast, sometimes you could lose value too. Patience.

Streetinvestor2:
You be bad guy.why didn't you ever post this kind French here all this time.People no go happy with you way buy #16 and above from this forum, lol. I argued 10 % WHT here because the payment was mentioned as buy out and not sharing of retained earnings which could pass as dividend

Lol. Oga, I posted it here. You did not agree with it and argued against it. Na night school I go, I nor sabi french. Lol.

Streetinvestor2:
@frangel.how did you get this information. It was never mentioned here that it was retained earnings that they wanted to share.I for no wait

Hahaha. It's not privileged info. All in the documents they released on NGX. My interpretation therefrom based on training and experience. I be finance person sha.

Streetinvestor2:
This is much better explanation. I was made to believe it was buy out by the parent company. Did they have this kind cash in thr retained earnings. So what happens to thr other assets in nigeria

No, it's not buy-out but winding down. GSK Nigeria would no longer exist. I hinted the possibility of WHT on the payment when I saw the details of the transaction they released to NGX.

They had about N8billion retained earnings as at 2022, add the N2b the majority shareholders forgave and part of the profit for 2023. Gave them the ability to pay about N11b to minority shareholders from cash balance of about N26b.

They still have about N930million retained profit left. Add possible profit from sale of assets. That's why I wrote you could get up to 77k more after 54k capital return per share (Share Capital + Share Premium).

Streetinvestor2:
Gsk don play me street. Why is the payment bearing div 48 with 10% WHT.They never said they are paying us dividend. It said buy out at #17.42

Something I could have sold at even #17.00

It is not a buy out. GSK is winding down and sharing their value to shareholders. What you received was from Retained Earnings over the years, distributable as dividends, subject to WHT if not earned during pioneer period.

Nor worry, from the 2023 FS, you will get another 54k (Capital return, no WHT) and 77k or more (subject to WHT).

KarlTom:
Wawu

The FGN do not need to do any borrowing of pension funds considering the amount of funds trapped as 'forgotten' dividends.
Sadly many people bought shares for their children and died without proper documentation or handover...

The FG has been making moves to have access to the unclaimed dividends, but slowed by some resistance. Presently, it's in the plan to "borrow" part of unclaimed dividends of about 4 years, but will make them available when the owners show up. I'm wondering what the business FG has with profits of enterprises after collecting taxes? The best entity to keep the unclaimed dividends should be the entity that generated the profits=dividends in the first place.

BullBearMkt:
What? Is that the new rule? That dividends older than 12 years is gone?

Yes. Has been so for many years.

Streetinvestor2:
.It could be recovered bad loans with interest written off in all this previous yrrs since it is no dollars revaluation.

Recoveries are captured under Other Operating Income. Note 12.

That item on note 10 is opaque. About 64% of it arose in Q4. Hopefully, the audited reported will throw more light.

Hustle1:
This is probably the last time UACN will end the year below N50 share price ......

Please note that the very impressive numbers is largely as a result of profit from sale of PPE. Note 5.

ositadima1:
You're right, I was trying to convey the same point. After accounting for depreciation and amortization (which I found under administrative expenses), the free cash flow comes out to around 796 million naira. That translates to approximately 40 kobo per share.

They can borrow or shift payment date to a later date in the year when cash position has improved. All depend on what the board is seeing and wants to do, anyways.

Hogwarthtrades:
That's one of the use of Retained Earnings.The company can afford it. N2 dividend seem highly probabie vs 2.50. heck , they may splurge considering Capital expenditure seem low this period. Who knows?

Based on Retained Earnings, they are allowed to pay up to N5. But dividend payout is by cash.

emmanuelewumi:
With EPS of N3.11k, Nahco should be able to pay a dividend of N2.50k

They can. However, my challenge is looking at their cash position of less than N1bn at YE, can they afford to pay dividend of about N5b without borrowing or shifting the payment date later in the year when they would have generated good cash from operations. They made some significant/strategic cash investments in 2023. Impressive results by the way.

DrAwo:
Let me give you an assignment.

Use a calculator to and divide the stated profit for the period by the total outstanding shares (check note 14 for the figure) and tell us what the EPS should be...

Don't believe everything you see in the financial statements hook, line and sinker...

Companies are not immune from making mistakes in their FS.

😁

ositadima1:
I noticed that the income statements in these unaudited financial statements are lacking deductions for amortization and depreciation. I think the final audited EPS will be lower once these non-cash expenses are included.

They are deducted. Usually mapped under admin expenses. As a standard, you can't arrived at your operating profit without providing for depreciation and amortization.