₦airaland Forum

OANDO? Filling stations? Your fear is fuelled by outdated info. Oando no longer operate downstream.

Joyful365:
This oando you are hyping is like Union Bank and unity bank. OandO value is based on political patronage. God save the stock if Tinubu losses in 2027. Meanwhile the business seems to be declining in real life. Most of their filling stations around our location has been bought or rebranded to NNPC. I won't be surprised if the stock hovers around + or - 20% of its current value pending when Tinubu's chances in 2027 is certified

LOL. Been dey think say na only me dey see am, lol.

nosa2:
This one just dey e own world dey talk e nonsense. Internet Sha!!!

Are they actually saboteurs in the real sense of it. I think the issue is that they don't just believe in your struggle. Nigeria is an awkward conglomeration of diametrically varying ideologies, beliefs, ethnicities and cultures which eternally fuels mutual suspicion among the various groups. No matter how articulate you are in presenting whatever you feel strongly about, you may never succeed in selling it to folks who by default, read motives into your presentation. So, forget it. There can never be a sweeping protest or "revolution" in Nigeria.

RodgersAkpafu:
That is not my point

I don't support violence

My point is simple

Uprisings or any revolt or even protest will be crushed because therr are so many saboteur in waiting ready to snitch

Its common sense

Anyone who speaks against govt

You will see almost immediately ppl coming to their defense no matter how egregious

o di kwa risky mehn! Very very

Ddll:
What’s going on with ELLAH LAKES? Is it making a rebound abi eye dey pain me?

Don't mind him. If anyone is going to mock Ellah Lake, it shouldn't be someone associated with OANDO. How is oando different from ellah?
Both are traded on the hope of an immediate better future which may or may never materialize.

emmaodet:
Na wa ooooo
I didn't know Ellah is part of the people referred to in the Bible.
My Honourable prophet.

He said investment income cash flow and not net worth. I think it makes sense.

rmx:
For a year ?
That’s just 1.2m a month . Wow

Or its monthly

I saw it. Serious Monkey Hiunting. I hnope those buying it won't regret it.

bastardson:
If you see custodian moving, it’s as a result of a guy on Twitter.

The mental stress of doing this?

ositadima1:
Yes, don’t go and dump your Oando, ooo. I think a possible loophole may be to reinvest the amount in the same year and then sell at a small loss — maybe around 4% (Or less).

Shoudn't be less than N154.30 (official closing price on 30th July) if the rules will apply.

IYGEAL:
Waiting for their MTO offer.

I'm equally eager to know!

Some volumes have been exchanging hands in recent days without any serious price movement.

crownprince2017:
What is like to be the implications now that the transaction has finally gone through?

WAPCO

https://www.holcim.com/media/media-releases/nigeria-divestment?utm_source=chatgpt.com

https://www.tipranks.com/news/company-announcements/holcim-completes-divestment-of-nigerian-business?utm_source=chatgpt.com#google_vignette

https://www.globalcement.com/news/item/19187-holcim-completes-us-1bn-divestment-of-lafarge-africa-stake-to-huaxin-cement?utm_source=chatgpt.com

Okay. What to expect now? I have been observing the volumes going down for days now.

Sunrisepebble:
Finalized

What would you have done differently at the time he took over? Majority of Nigerians voted for the those immediate decisions he took when he took over. They endorsed those decisions by giving majority votes to all candidates who campaigned on those points. Candidates like Sowore etc who campaigned agaisnt those steps got little to no vote.
We can play politics of "he is not my candidate and so I must always antagonize him" but on a forum of supposedly enlightened folks like this, one who expect some truthful submissions devoid of such partisanship. Tinubu has shown leadership, he has demonstrated uncommon courage and put his political career on the line to prevent Nigeria from going down. Personally, I have no reason to look for any other person to vote for.

megawealth01:
But na common man dey suffer am

Same pleasant surprise here. I have been very busy all day that I coudln't even check my phone until few minutes ago and I saw the alert sms notification.

awesomeJ:
I didn't even know I qualified, waking up to see it, I almost thought it was a mistake. 😁

Isn't this what they've been doing with Japaul on a large scale since forever?

ositadima1:
I was thinking that someone could easily act as a market maker for some of these penny stocks. I could pick one solid stock, establish a line (when i grow up), and absorb any supply below that line while selling 4–5% above it—essentially providing liquidity. I believe some whales are already doing this on the NGX, judging from the charts.

As long as it is not illegal, just follow the money and be smart with it. Don't be guilt tripped into losing opportunities.

Not just this. There is a state owned palm plantation with refining facility that is up for sale by the Cross River state government.

SonofElElyonRet:
AI Overview



+1
Newly Built Palm Oil Refinery With Jetty – Luxury Villas ...
A palm oil refinery in Calabar, Cross River State, is currently for sale. The refinery is a 400-metric-ton-per-day vegetable oil physical refinery and fractionation plant, situated on a 7.8-hectare waterfront site with a jetty. It has significant storage capacity for crude palm oil and refined products. The property is located in the Odukpani Local Government Area, adjacent to the TINAPA Business Resort.
Here are some key details about the refinery:
Capacity: 400 metric tons per day.
Location: Waterfront site in Calabar, Cross River State, with a dedicated jetty.
Storage: 20,000 tons of crude palm oil, 11,000 tons of refined products, and 1,400 tons of intermediate products.
Land Size: 7.8 hectares.
Title: Certificate of Occupancy (C of O).
Price: $25,000,000 USD.
Status: The refinery is brand new and not encumbered.
Other Features: The property includes a dedicated jetty with customs facilities and is accessible by road.
The refinery is being advertised for sale by various real estate companies and individuals, according to posts on property listing sites and social media platforms.

The Cross River palm oil company is actively receiving bids. I don't know if this is what Ellah is gunning for but the company is up for sale.

SonofElElyonRet:
The thought crossed my mind but it seems highly unlikely that Ellah wouldn't know that Presco would be interested in the asset and would be ridiculous to think that Ellah would hope to beat Presco to an asset belonging to the latter's chairman

He is buying already. Same thing he did with OANDO.

You missed out on a stock, rather than waiting for the next window to get in, you constitute yourself to a nui.sance on the thread.

SonofElElyonRet:
EDU the new Ellah convert
We hereby rename him "EDUELLAHECHO

Ain't disputing this at all. I'm just correcting the notion that there was some cash exchange in the retrieval of those shares. There was none as per info. The shares were forfeited by debtors who couldn't pay cash to settle their debts to OANDO and I think the debtors are even entities related to Wale (maybe I should put allegedly on this?)

mikeapollo:
The fact still remains that they could have sold the shares to some institutional investors (or Oando directors) instead of redistributing same to shareholders, especially at a time when the company needed the funds badly.

He only probably referred to the paper value of the redistributed units.

KarlTom:
I quoted OJT from the AGM...

Listen to the AGM from 2h1m28s:
- OandO had $930m equity
- $550m plus $85m was I quote "handed back to shareholders"
- Leaving about $350 equity

The bolded was the narrative we were fed with initially. I want to believe that the statement of the GCEO should supersede that one...

Apologies to KarlTom. I think I directed my previous post to him instead of you.

OANDO did not pay any shareholder to retrieve the redistributed shares. According to info, the shares were retrieved from some OANDO debtors in lieu of cash settlement of their debts to OANDO.

mikeapollo:
Exactly!
Most people are ignorant and don't appreciate how some of the negative balances in the accounts came about.
Imagine Oando never had to refund $635m to the two shareholders! They would have needed less loans and saved billions in finance costs, and the value would have been much higher today.
I am envisaging it will hit N100 after the capital raise and N150-N200 by 2027, God granting us life.

I'm not sure your assertion on the distributed shares is correct. They were retrived from company debtors, who incidentally, were also shareholders of the company in lieu of cash settlements. The shares were not paid for by OANDO.

KarlTom:
Two major shareholders $635m ($550m + $85m)

Honestly, OandO tried.

Most companies would rather sell that volume of shares to another investor than distribute it to shareholders...
(

They have just turned evrything into a black market
The more you look, the less you see

Phlinx:
I said this time discrepancy (you are seeing 11.50am but the market trading at 11:58am) is intentional!!

Those who may have bids on the queue in insurance stocks at top prices, I hope they are watching what is going on on the bid-offer table.

10% everyday will not continue forever.

I see.

KarlTom:
Here's the excerpts of the AGM transcript:

(2:02:09 to 2:02:46)

"...shareholders funds which we suffered to them. [Um] accordingly we are able [and now] to raise capital and we're not raising capital at five naira a share which we would have done assuming we had done it last year. we're [doing by] raising capital today at over 50 naira a share which is a 10 times increase in the overall capitalization of the company as well as effectively 10 times increase in the value of the shareholding which individual shareholders hold [um] in the company thus reducing the dilution effect... "

On this OANDO, I really wish to do this because I have a feeling it might soon fly but Wale literally said at the AGM the capital raise will be at 50.

yMcy56:
😁
Let me dash you one rotten tomato again......
Pick some Oando and keep...
*Corrected 😁

** Hope you can see Ellah lekos firing in market....

In the next few days, they will force the price down below 3 to buy back the volumes they released to the market today and they keep the cycle going. It is a massive jijo set up.

Loco and his WhatsApp group cannot match them.

SonofElElyonRet:
Always stopping sub 4

A deliberate effort to keep the price below #3 probably till they are ready, but this forceful suppression of the price has been going on since forever.

SonofElElyonRet:
Looking like Japaul themselves are not doing anything to move the price. Maybe they are going to do something just before they commence their Capital raise

May not be available again until probably 25-30

crownprince2017:
Despite harsh warnings by oga nosa yesterday.

You go buy dogoyaro company.