₦airaland Forum

I was in Abuja few years ago and stayed in a lovely and affordable apartment for 3 nights. Frankly speaking I never thought it was possible to find a short stay apartment that was similar in confort to what I am used to here in California and within budget. I am now hunting for a quality and affordable short stay apartment in Ikeja GRA and wished someone had posted some pictures. I have plenty of pictures but can't post them now, later. The apartment has a mini bus that we rented for pennies relatively. The rooms were neat and well maintained with quality furniture and decorations. We stayed in a model designed as a townhouse with living room downstairs and two bedrooms upstairs. The kitchen was just ok. Real quiet, secure and two giant generators. Internet was very slow then. Very ideal for families visiting Nigeria.
Name: Ideal Holiday Home 09- 2340977 or 09-2342661. Price range from 20 - 30,000 per night
Please recommend a quality and affordable hotel/apartment in Ikeja GRA Lagos.

@Rasputtin
I am interested. I need more details. Please send your broker's details? please email me , ymenow99 @ yahoo dot com

Union Diagnostics:
I have been waiting for my Union Diagnostics certificate but none was forthcoming so I decided to call.  After so many trails, I got to speak with a lady who brutally informed me that I was only allotted about 10% of original units.  I ordered 135,000 units and was allotted 25000.  This is pitiful I could not say a word.  

If you have gotten your certificate, please attest.  I read somewhere that they had full allotment and now I suspect fraud in my case.  I am so disappointed.  Could I have gotten so few because I used a different broker than CashCraft?

They informed me that my money and certificate was sent to my broker.  My broker has not received anything from them.  Now I am in a Chicken and Egg situation.  I have been noticing that slowly the Nigeria market (stock brokers, registrars and coys) are introducing the Nigerian factor into stock investment and I am worried.  Here are the phone numbers:
1-7614209
1-7908906
1-2799880

@omoba
I beg no forget your brother o.  Please email the thing to me at ymenow99@yahoo.com.  I congratulate you for your kindness and dedication to replying all these emails.  Bravo!!!

Urgent ,  Who has connection?
I have a banker friend who in a short time would be traveling to Nigeria with some Millionaire Investors.  These White American investors specialize in housing development.  They were supposed to be traveling to Niger Delta to meet with one of the deputy Governors.

Problem:
The investors are cautiously worried about Niger Delta; although they have hired some body guards to accompany them.

My friend has not done good homework as to possible outcome of the journey and the caliber of this deputy governor (had to always worry about 419 elites). I deduced this from quick discussions with him.

Not sure about excellent hotel accommodation in the Niger Delta.

It looks like the travel plan is now set on stone as it took time to organize.  I had proposed to my friend to cancel the trip and do some serious networking to establish good connection before the trip.

Question and help
If you were to introduce some foreign investors to Nigeria; what would your plan look like?

I suggested he may need to make some contact with highly placed economic movers and checkers in Nigeria.   Example, Soludo’s teams, FCT administrator, Lagos state Governor, Oil and Gas Team and etc. 
Please I need your advice and if possible please send contact information.  Please send information to ymenow44@yahoo.com

richieade:
My bad with the name mixup, I was told spring mortgage but I think they mean sprigbank mortgage. The guy offering it specifically said PP and will be listed soon!!!

Spring Mortgage PP on began November 5th and ended December 17th, 2007.  Form the news article in Business week, the shares are about to be listed with SEC.

Spring Mortgage applies for listing on NSE
07 January, 2008 04:40:00 Chuka Uroko
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Future View Financial Services Limited and Spring Capital Markets Limited, both issuing houses to Spring Mortgage’s private placement offer, will soon submit an application at NSE for the listing.
BusinessDay checks revealed that, with the permission of the council of NSE, the shares would be listed in the first quarter of 2008, which will bring the number of quoted mortgage institutions in the country to two.

Efforts, it was learnt that efforts were being made to take Spring Mortgage to the stock exchange after the close of the ongoing private placement offer to enable investors recoup their funds in good time. It is expected that investors would make 100 per cent return on investment (ROI) on listing.

Spring Mortgage Limited, in a bid to meet the N2.0 billion minimum capital base requirement for operators in the primary mortgage sector commenced a placement offer on November 5, 2007 to raise N3.48 billion. The company is offering for subscription 2.9 million units of ordinary shares of N1.0 each from its 3.0 billion units authorised share capital.

Net proceeds of the placement offer is meant to be invested in three major areas which are; upgrading of IT infrastructure, representing 25 per cent or N836.85 million of the net proceeds; branch expansion, 20 per cent or N669.48 million and N1.84million or 55 per cent of the net proceeds earmarked to boost working capital.

There are indications that the placement offer will record a reasonable oversubscription owing to the interest of the Cross River State government to own a substantial stake in the company.

Business Day checks also showed that the move by the government to own equity in the company was necessitated by the working relationship which both parties are about entering into.

Our source also disclosed that the company was about signing an agreement with the state government to provide affordable housing units for citizens of the state in Calabar. "This contract agreement is also expected to boost the earning capacity of the company and help it deliver on its promises to investors", the source added.

Spring Mortgage Limited is an indigenous pt, and property management.

While the company delivers on its core competence of providing excellent mortgage finance and property management solutions to help its customers achieve their dreams of acquiring their own properties, it also provides a range of consumer finance services focused on empowering people to reach their life’s goals.

The company’s community of corporate and individual customers, real estate partners and investors has come to rely heavily on it because they know that the company is more than just a mortgage bank.

The service level that has endeared customers to the bank is in line with the company’s mission of providing innovative and affordable mortgage solutions in every neighbourhood. Spring mortgage has a vision of becoming the leading provider of world-class mortgage finance services in Africa and a core purpose of providing mortgages that would empower/enable its customers have residences and investments that would create social stability, thus ensuring capacity development, under terms that would meet world best standards.


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easimoni:
So Japual wants to swallow 400% oversubscription? Is the 2.7B shares you quoted above the hybrid offer or inclusive of it? Either way 400%  oversub will be diffcult to handle in the long-term. Still months away from listing so short-termers need not worry, esp if they decide to issue a bonus. PO buyers wil def not benefit from the bonus sha!


Omoba, thanks for the Wema update. I need am!

I would think it was just additional.  This was the message:
JAPAUL OIL & MARITIME SERVICES PLC: PROPOSED PLACING OF 2,657,835,300 ORDINARY SHARES OF 50 KOBO AT N3.95 PER SHARE:
CONSENT LETTER THAT JAPAUL OIL & MARITIME SERVICES PLC SHOULD RETAIN EXCESS APPLICATION MONIES AS DEPOSIT FOR SHARES
1, hereby consent that Japaul Oil & Maritime Services Plc should retain my excess application monies in respect of the just concluded Offer for Subscription as deposit for shares in view of the proposed placing of 2,657,835,300 Ordinary shares of 50kobo each at N3.95 kobo per share.

Below is the text I just received from my broker,   I know the content may affect some of you.  You may need to take quick action as the consent is about to expire.  Please contact your stock broker for the consent letter.

Gurus in the house, How does additional 2,657,835,300 units affect Japaul in the short and long run?
,

Please find attached draft of a Consent Letter regarding Japaul Excess monies - the Offer was over-subsribed by about 400%. As you may be aware, the  Allotment proposal for Japaul Hybrid offer has been approved by SEC and full allotment was granted to only applicants within the range of  1,000 - 50,000 units, while those that applied for units from 50,001 and above will be given partial allotment. However the joint Lead Issuing Houses have structured an arrangement to ensure that applicants that partial allotees get full allotment via a supplementary private placement and which exercise has already been approved by SEC.
So should you prefer not to receive return money payments, kindly execute and return to us  the attached Consent letter so that you can benefit from this opportunity.

Please ensure that your Consent Letter gets to us on or before Tuesday Feb.5th, 2008, as no letters will be treated after this date.

easimoni:
Iwerebor, long time! Welcome back.Are they? Wema's been on net offer since the day it went on TS. More people are trying to sell than are trying to buy. If you wan't to buy, contact me; I have more units for sale than I have hairs on my head    Not that it means much since I'm balding (or is it thinning?  )
Anyway, contact me jooooooooooooo!

I am interested.  Please email your asking price to ymenow99@yahoo.com.  I truly appreciate great contributions to this forum.

Urgent Help Request!!!!
The Zenith offer is almost at hand and I have not received my Right Circular.  I will be damed if I miss out on my rights Offer.  I know someone suggested visiting Zenith Registrar, but I am outside Nigeria.  Please Nairalanders,  any suggestions, ideas?
Please could some upload a copy for the benefit those in my predicament.  I have sent an email to Zenith but can't count on miracles at this time. 
I know if I don't get help here, there is no help elsewhere.
 

Merry Christmas fellow Nairalanders!
I have very urgent question about Costain Rights Issue. I have not received an invitation for the Rights Issue and the deadline is fast approaching. I am scared I might not receive the form on time and I’m beginning to think that Costain pople may have intended it that way. Please fellow Nairalanders what should I do to obtain the form? The Holiday season is at hand and almost impossible to contact Costain and I am outside Nigeria. I was very unlucky to have bought the stock at high of 20 naira and looking for ways to narrow down my losses.
Some kind NSM member had uploaded the blank Rights Offer form but upon filling the form I noticed that it should have been addressed to a particular share holder stating number of shares offered.
Question:
Is it possible for me to use this form (not addressed to me). I know the offer is for 13 shares for every 4 share already acquired. So, I know my total rights offer.

GURUS in the house and students, please help this desperate brother.
Best wishes for the Christmas and Happy New year. May our pockets never run empty! Nairalandars una too much!

I have to admit… I am one of those silent listeners and have in last few months grown addicted this forum. Before going any futher, I have to commend Seun for providing us with this forum and also to the wonderful GURUS in the house for their relentless and selfless efforts in educating newbies like some us. This forum is a true attestment to Nigeria hidden greateness.

For those of us still confused on how to download from Megaupload here are my findings. I have Windows Vista with IE and the Megaupload toolbar did not automatically display after entering the 3 digit ID. If your Browser does not automatically display the download toolbar after entering the 3 digit ID, you may want to visit this link to download a Registry file that will update you registry with necessary params to enable the toolbar…… http://www.megaupload-tips-tricks-hacks..com/

To install the registry, click on Start >>> Accessories>>>Command Prompt>>type Regedit and >>Enter. Select File >>> import. Locate and select the downloaded Registry file. Close Explorer and re-open again and you should be ready to go.

You could also double click on the registry file to install without going through the Regedit from the Command Prompt. However, I am always cautious about any registry update and prefers to it the hard way where I have control. Be careful, you could ruin your computer registry!
Please realize that you could also download the toolbar from Megaupload but I learn it came with spyware. Your choice…,

I have been reading and enjoying expertise investment analysis from this wonderful forum. This is just a synopsis of Nigeria potential and what we came become. Kudos to you all!
I puchased Wapic Insurance and Intercontinental Bank stocks sometime in September 2006. I have not received my stock certificate. Does any one know about the certificate whereabout?