₦airaland Forum

It appears the divestment is real and likely FO's infancy stage may after all an ADVANCE stage. Anywhere time will tell.

http://www.oandoplc.com/wp-content/uploads/Notice-of-37th-Annual-general-Meeting.pdf

I don't get it - OANDO PLC. Bid at 26.2 (200,000 units) yet the highest offer price is 25.20. Is this normal

passwelle: Yet again, I am surprised

You need not be surprised. Is simple, company that have retained profit in the past (reserve) can dip hand into that account and pay far more than their current year's EPS. This also happens when a company has determined that going forward the company is better positioned to generate more profit than in the past (sometimes new business).

Hmmmm.... BABA already on the slide nearly 5% down.

myjoy08: Don't forget that we have 24 hours in a day!

24 hours does not apply here except Oando wants to deliberately incur a fine from NSE. The truth is that the result was not released on 1st September as promised. I WILL NOT BE SURPRISE TO SEE A PUBLICATION TOMORROW ALLEGING THAT THE 1ST SEPTEMBER DATE WAS NOT FROM THE SOURCE (WT). Account was hacked...... Getting sick of ALL these. Is it that people don't care?

OANDO consistently inconsistent?? When a company is unpredictable you are investing at your own risk (even at higher risk). I think I have got enough dose of this cowboy lifestyle of WT. Am I missing something, market has closed, has anyone seen the Oando result?

passwelle: Unaudited though, but EPS of 75k for H1, on a stock of c. 4.00 with only 1.3 billion OS is quite promising
All devoid of noise making, now thats Audacious!

Please don't be carried away by the EPS only. There are more questions than answers on this report. WHY THE STEEP DECLINE IN REVENUE? Did they find a new magic in cost savings? Are they cash trapped that there were businesses they could not do? Top and Bottom lines should be considered. EPS .75K is good but does not tell the whole story.

presiade: MorganCapital's itrade platform is sick!!!

I HAVE GIVEN UP ON THEM. Is only a matter of time they will know technology is not all in this business. One good thing about this kind of technology is the ability to replicate it. Already my other broker is in the process of launching real-time trade. Once every other broker has it the only edge will be customer service - customer satisfaction. Till then let them.........

[quote author=mercylicious][/quote]I guess you mean OANDO Marketing which OANDO PLC fling 49% years back. That will be a good one, now the linkage is becoming clearer with Otedola and Dangote friends again the Lekki refinery will have no problem with distribution.

passwelle: Methinks the above is just semantics.
OER is listed on the TSX in Canada while Oando Plc is listed on the NSE and the JSE in South Africa.
Oando Plc owns >95% of OER. The loss or gains of OER will be borne in the same proportion.

Point of my post was that of a paradigm shift in the current leadership and management styles in OANDO PLC & OER which to me is the same and one as currently constituted. If the style is wrong in OANDO then having >95% holding in OER will mean both will see things in the same perspectives. PERIOD!
The proposal for reducing OANDO PLC stake in OER to 75% is a good one, but who takes that 20% is more important. OANDO PLC and OER at this time needs fresh independent minds in the board and mgt teams to cut some of the current excesses. Effectiveness and efficiency are not the same and not mutually exclusive, but complementary.

myjoy08: Sister Mercy, ass i said the patient dog will surely eat the fattest bone. I can authoritatively say that Oando will surely make many people smile (Not far at all at all). And any investment right now in Oando will never go wrong as usual. Please this is not a recommendation to buy or sell. Do your due diligence. I have a few recommendation of stock if only some people can take a look at it... Happy weekend to you all. Once again, be patient!

Bros, I agree with you that OANDO presents a lot of opportunities. However, looking at the OER report I feel a lot is not right with the mgt. Check the explanations for the Losses, they are mostly as a result of one delay or the other. Take for instance one of the projects was budgeted for $12.2million and as at Q2 2014 they have blown up $20million and another place no budget yet $5million was incurred. As someone like me with project mgt bias is either they lack the competency for scope definition, estimation, requirement collection or there is a deliberate attempt to short changed the system which is not to the interest of the shareholders. First thing first, with this size of asset, OANDO PLC & OER to move forward in translating the potentials to results there is need for a balance in the mgt.

Diamond Bank Rights issue. Has anyone received his/her rights circular?

I have visited the Centurion’s website severally without any indication of the adoption of the modern best practices as employed by First Registrars (OANDO rights) and African Prudential (Transcorp Rights).
The rights is closing on the 26th of August yet none is talking about reaching investors that are not resident in Lagos or outside Nigeria (courtesy of snail speed postal services).

Is there anything am not getting right? Is Centurion incompetent or this is a game plan to deny some of us the opportunity to take up our rights?
Thinking along game plan, it seems to me the bank needs this money, however, the discount between the rights price and the market price is not that wonderful so I quickly dismissed that fact that Centurion is working for some vested interest.

Incompetent – yes I think they are, my interactions with their staff reveals one thing, people that lack proper customer care.
Of more worrisome is the bank itself though results has shown great improvement. In my review of the bank, I consider it rather too conservative, not liberal when it comes to rewarding shareholders. A bank that has not paid dividends for years made an EPS of N1.68 and can only think of N.30k for their shareholders. Don’t forget this is a bank that sold for over N20 in 2007/2008.

Did the bank really intended paying out that dividends or just another way to cajole the shareholders into the rights?

After reading through the rights circular I have followed-up with some research on the company’s exposures to Geometrics. Over N42Billion in loan to the company through Diamond bank’s DMD. With controversies raging with the Enugu Distribution Company and Geometrics over ownership of Aba plant. I understand currently the matter is in the court though the president is said to have intervened. What happens if Geometrics loses the case and the N42Billion loan? Remember the Aba power plant is yet to be commissioned.

One of the dailies this week reported of the interest of the bank’s MD in 2015 Abia governorship. How will this affect the issue of continuity bearing in mind that the bank just renewed his appointment for another two or three years.

Am kind of confused. Is this really worth the pain of pursuing the registrars?

JUST THINKING A LOUD. #KK5050

BnSITL, Greetings to you all. After months of peeping and nodding my head on the wealth of experience on this thread, I have decided to become full member. I have enjoyed all the posts, the good the bad and the ugly. Indeed we are BnSitL. Hoping to contribute my quota. Wishing you all a bullish days ahead! #kk5050