₦airaland Forum

Intendy:
http://nse.com.ng/Financial_NewsDocs/13125_UACN_-_2015_AUDITED_ACCOUNTS_FINANCIAL_STATEMENTS_APRIL_2016.pdf

UAC OF NIGERIA PLC
Closure of Register Year Ended 31 December 2015

Proposed Dividend 100 Kobo per share

Proposed Bonus Nil

Closure Date16th -20th May 2016

AGM Date 8th June 2016

Payment Date 9th June 2016

AGM Venue To be advised

Which kain case UACN get, that made the company to spend N151 million on legal exoenses.



IT expenses went up from N210 million in 2014 to N272 million in 2015.

N1.27 billion was used for vehicle maintence and fuel in 2015, this figure may go up by 40% in 2016.

N922 million was spent on electricity and power in 2014, but went down to N876 million in 2015. I observed that the ac in my favourite Mr Biggs is not usually on whenever they are on generator, and in most cases they have a timetable for when the generator can be used.

The marketing and advert expense of N1.18 billion ought to have a positive impact on the revenue and bottomline.

Distribution expense went up from N620 million in 2014 to N667 million in 2015.

manie:
Yet Tony and co earned hundreds of millions if not billions as management and technical service fee, management earned incentive fees of over N900 million, Directors earned N544 million, CEO earned N94 million, Bank charges of N180 million which is different from loan payment, write-off of fixed income investment domiciled with BGL N377 million, repairs and maintenance N727 million, electricty and diesel cost N907 million,travels and hotel accomodation N407 million, staff cost N1.88 billion, other operating expenses like security, PR, subscription N710 million. TOTAL ADMINISTRATIVE AND GENERAL EXPENSES WAS N9.6 billion.


Yet they did not deem it fit to pay a dividend of as little as 1k per share to shareholders which would have cost them a total of about N387 million. This amount is less than the N544 million spent on 8 directors of the company and just
...........................................................................................................................................................................................



I can see Transcorp is trying to cut cost in the area of remuneration, but they need to do more. The CEO earned N192 million in 2014, but was reduced to N94 million in 2015, the chairman in person of Tony earned about N134 million in 2014 which was reduced to N43 million in 2015.




Management should please remember the shareholders, now that the company will soon approach them for the injection of more funds into the company.

NB, i do not own Transcorp shares.

@ Mercy, this is the comment that was deleted and also earned me a ban.

mercylicious:
Reason is autospambot. If you post about 3 post concurrentlyin a short time you will be banned.
I was banned sometime last week and decided to serve my ban cos I was getting so addicted to the forum.

I made a post, no more no less.

mercylicious:
We just de do kalo kalo for NSE.
Most of the results we see are not true. The board and d mgt decides how much they want to declare. Some can make hug money and declare less, some can make small and declare big, then reduce the payout. Don't forgetting the financial engineering by coys.

That is why what I use in authenticating any result is the dividend declared and paid, mind you some companies used to take bank loans in order to pay dividend.

manie:
NSE and SEC needs to work hard in prevent exploitation of investors by top management of quoted company.

Moderators also need to accomodate divergent views on this section, I see no reason why my comments were deleted and why I was banned from making further comments since morning.

manie:
These are my thoughts on Transcorp, the figures quoted can be found in the 2015 annual report.

The post was deleted by the moderators in the morning, but thank God for the super moderator in person of Seun osewa.

NSE and SEC needs to work hard in prevent exploitation of investors by top management of quoted company.

manie:
Yet Tony and co earned hundreds of millions if not billions as management and technical service fee, management earned incentive fees of over N900 million, Directors earned N544 million, CEO earned N94 million, Bank charges of N180 million which is different from loan payment, write-off of fixed income investment domiciled with BGL N377 million, repairs and maintenance N727 million, electricty and diesel cost N907 million,travels and hotel accomodation N407 million, staff cost N1.88 billion, other operating expenses like security, PR, subscription N710 million. TOTAL ADMINISTRATIVE AND GENERAL EXPENSES WAS N9.6 billion.


Yet they did not deem it fit to pay a dividend of as little as 1k per share to shareholders which would have cost them a total of about N387 million. This amount is less than the N544 million spent on 8 directors of the company and just
...........................................................................................................................................................................................



I can see Transcorp is trying to cut cost in the area of remuneration, but they need to do more. The CEO earned N192 million in 2014, but was reduced to N94 million in 2015, the chairman in person of Tony earned about N134 million in 2014 which was reduced to N43 million in 2015.




Management should please remember the shareholders, now that the company will soon approach them for the injection of more funds into the company.

NB, i do not own Transcorp shares.

These are my thoughts on Transcorp, the figures quoted can be found in the 2015 annual report.

The post was deleted by the moderators in the morning, but thank God for the super moderator in person of Seun Osewa.

Mfunkynation:
pls how do c trancorpps kasala... no dividends?

Yet Tony and co earned hundreds of millions if not billions as management and technical service fee, management earned incentive fees of over N900 million, Directors earned N544 million, CEO earned N94 million, Bank charges of N180 million which is different from loan payment, write-off of fixed income investment domiciled with BGL N377 million, repairs and maintenance N727 million, electricty and diesel cost N907 million,travels and hotel accomodation N407 million, staff cost N1.88 billion, other operating expenses like security, PR, subscription N710 million. TOTAL ADMINISTRATIVE AND GENERAL EXPENSES WAS N9.6 billion.


Yet they did not deem it fit to pay a dividend of as little as 1k per share to shareholders which would have cost them a total of about N387 million. This amount is less than the N544 million spent on 8 directors of the company and just
...........................................................................................................................................................................................



I can see Transcorp is trying to cut cost in the area of remuneration, but they need to do more. The CEO earned N192 million in 2014, but was reduced to N94 million in 2015, the chairman in person of Tony earned about N134 million in 2014 which was reduced to N43 million in 2015.




Management should please remember the shareholders, now that the company will soon approach them for the injection of more funds into the company.

NB, i do not own Transcorp shares.

ufotty2001:
Someone should please tell us abt transcorp.. I can't download.
.

You can read some of my views on SMN


http://www.stockmarketnigeria.com/forums/conglomerate-stocks/419-transcorp-185.html#post275172




The company is another Oando in the making.

mercylicious:
E be like say oando is back to profitability.
EPs of 10k.

The result is for the subsidiary of Oando, and not that of the main Oando.

EDUECO:
The seller would get the dividend since the shares was sold to the buyer on closure of register day or date(because the seller held the shares throughout the qualification date,that is,March 22 for Afriprud).

The seller will get the dividend provided if the stock was sold at ex-dividend price.

Godisfaithful:
Sir, the seller gets the dividend.

The buyer gets the dividend.

Money is good.

ETHIX:
Op I hope your username does not have anything to do with your name. As it implies it means suffering is good. You need to detach your personality away from that name to avoid further unpleasant experience.

Thanks

Iyadara means Mothers are good.

marsoden:
My sister, RESIGN. You don't need a plan B to resign, except you don't know your worth. If the blame is heaped on you, everytime, even when you're not wrong, it's not worth it then working there. Its just means that you're not being appreciated. Walk out one day, and see if your boss won't want you back. As an architect, there are a thousand and one jobs out there waiting for you.

She should plan her exit, I hope she has experience in project management. I am not an Architect, but I have more than 7 years experience building and supervising construction of residential houses, I can tell you that professionals in the construction and building sector are very few. The lady should try and get practical site experience, if she does not have any.

IYADARA:
I am an architect ...he blames me for every little mistakes in all designs, even the one he commits, he will always ask me why I wud print designs with mistake, adesigns that someone else worked on, anytime he tells me to print and he sees mistake, the blame my brother still comes to me..... I am always the bad person,...... When client complains, even without asking who worked on the design, he assumes I am responsible,.......

He finds every little opportunity to insult me..... He makes me feel the salary he is paying me isn't worth my productivity.....

If that is the case I will advice you to start working on a plan B. Building/Construction sector of the economy is very lucrative for Builders, Architects, Lawyers, Quantity surveyors, Civil engineers and even artisans etc who know their onions.

ScofieldBello:
I salute your courage sir.
Only few Nigerians can do this!
*THE MOMENT YOU HAVE PLAN B, YOU ALREADY ARE A PESSIMIST*

Keep the courage up. It shall be well sooner than you ever thought.

Does that mean we still have employees who do not have Plan B, Plan C and even Plan D in Nigeria?

Mpyaw:
hmmmmmmmm...... you did not mention polytechnic which is capital intensive

On a serious note the guy bit more than he could chew, having up to 60 secondary schools and lacking the necessary organisational structure is not the right the to do. Although I learnt about 4 of the schools are approved. Instead of diversifying into higher education through his polytechnic, he should have streamlined his schools into 20 appproved secondary schools.

Chrisland started about 40 years ago and they have a total of about 10 standard primary and secondary schools in the group. Chrisland is so buoyant that the school can afford to employ a Canadian Professor of Education, the Prof is the director of Studies at Chrisland Educational Organisation.

https://www.nairaland.com/3009645/education-ends-certificate-continuos-learning





Prof. Abioye Isaac

“Academic excellence is overrated! Did I just say that? Oh, yes, I said it.
Being top of your class does not necessarily guarantee that you will be at the top of life.
You could graduate as the best student in Finance but it doesn’t mean you will make more money than everybody else.
The best graduating Law student does not necessarily become the best lawyer.
The fact is life requires more than the ability to understand a concept, memorize it and reproduce it in an exam.
School rewards people for their memory. Life rewards people for their imagination.
School rewards caution, life rewards daring.
School hails those who live by the rules. Life exalts those who break the rules and set new ones. So do I mean people shouldn’t study hard in school? Oh, no, you should. But don’t sacrifice every other thing on the altar of First Class. Don’t limit yourself to the classroom. Do something practical.

Take a leadership position.

Start a business and fail. That’s a better Entrepreneurship 101.

Join or start a club.

Contest an election and lose. It will teach something Political Science 101 will not teach you.

Attend a seminar.

Read books outside the scope of your course.

Go on missions and win a soul for eternal rewards…
Do something you believe in!

Think less of becoming an excellent student but think more of becoming an excellent person. Make the world ur classroom!”

EDUECO:
To me,equity investment is a very serious business
,you have to be alert at all times! If you know that N50,000 can become N500million in 10 years,then you would become conscious of every move.

It is very rare to turn N50,000 to N500 million within 10 years, except if you build your own company and then have an IPO using inflated valuation methods to scam gullible investors.

N50,000 that gives a consitent return of 100% for 10 years will give roughly N50 million and this type of return is not sustainable for 5 years talkless of 10 years.

EDUECO:
To me,equity investment is a very serious business
,you have to be alert at all times! If you know that N50,000 can become N500million in 10 years,then you would become conscious of every move.

N500 million can also become N50,000 in 10 years.

skydude:
No holiday for us,we are to resume on the 29th,i really wonder what going on,i no send this man to go collect loan of 311 million,i wonder why UBA gave him such a reckless loan,

Sunnypar you wan carry comouter way them no get,infact the owner of the school built the whole system in a trickish way,that why we don't have access to him,but I know deriz God,
If you want to confirm my statement Google UBA debtors and you would see living stone owned by Mr, ******* on the number 10 list

He tried by reducing his debt, the exposure was higher than N311 million when the debtors list was initially published about 8 months ago. I hope he is not also exposed to Skye Bank because he banks with them.


UBA did not give him N300 million just like that, he must have collected 500k, N1 million, N5 million, N10 million, N50 million in the past which he paid back as at when due. You can not grow your business without getting funds from friends, family and financiers, there are school owners who have grown there businesses to the level of getting loans running into billions of Naira. A female school owner got about N2 billion from FBN for the expansion of her school about 8 years ago which she had liquidated.

Your boss started as a Kerege school owner in 1999 although 95% of his schools are still below standard, but the so-called kerege school business was able to finance his Post graduate and Phd programmes in UK, his problem with the current loan saga is due to his dabbling into politics which did not favour him after spending millions of Naira.

luvinhubby:
So the airlines should retain their workers amidst dwindling revenue caused by Buhari's clueless economic policies?

I sympathise with the affected workers but the airlines are not to be blamed.

The workers MUST not be sacked, they should be asked to work for free.

jauntty:
IF i SELL my Afriprud now, will I still get dividends?

You will not get the dividend.

skydude:
Finally living stone paid us for February but guess what it half payment,this is really very risky oo,please all those seeking for jobs ensure you know how prompt the school pay before you jump in before you follow keke Napep go Kaduna

When will they pay March salary?

[quote author=oluchingorji post=43988458]It’s seems PSquare has finally settle the bitterness between them. Both Peter Okoye and Paul Okoye took to their instagram page and captioned: That it took our stupidity to realize that FAMILY comes first, We are VERY SORRY. @peterpsquare @judeengees #dembeonenobetwo @rudeboypsquare

source (https://www.instagram.com/p/BDOxmQSSsLP/?taken-by=peterpsquare)


via (http://www.adelove.com/p-square-apologize-to-fans/)


....
[/quote

DUNKA:
manie please for the NASD OTC do I need a different CSCS account to buy and sell there or will my regular CSCS suffice?

You will need a new CSCS? Find out if your stockbroker is registered with NASD. I do my NASD transactions through United Capital and CSL.

Rotentina:
800k......?? Too costly......mine with the cost of bricks at that level is not up to 450k.....!!!

That is why expeience and knowledge comes in, must people over-pay for their first houses but by the time they are building their second houses they must have learnt some tricks and become knowledgeable.

iamlarry99:
I have budget of 3m maximum, building to be located in somewhere around mowe or ikorodu

3 million should fly at least 90% completed and habitable if you have knowledge and experience in building

Rotentina:
I bought the bricks at the rate of #180 as at 2014, and I bought 2000 pcs........!!! But as at today, it goes for 230 per one.

I spent roughly 150k from foundation to the level and I spent 260k for the roofing, I spent 60k on the ceiling, yet to finish, and 40k on the flooring, yet to finish. I spent roughly 15k on the electrical (I did the wiring myself) roughly 885k and I AM HAPPILY SLEEPING THERE WITH MY FAMILY, no more under the threat of Landlord.

I am sure the house is not in Lagos, because the cost of building is high in Lagos. You did not include the cost of the land. Have you done the plumbing, floor tiles and the necessary finishing.

sukkot:
bros you be real MVP. i like the house. looks very british. cute house. bros how much did it cost to build that house ? if you are not comfortable telling me its OK.

Between N2 million to N2.5 should be able to complete that house with moderate finishing.

megainvest:
Very true. But I will diversify after I do some JIJO with the funds.

You may then try using 60% of the fund for your JIJO, the worst thing that can happen to a trader/investor is to bet 100% of your fund in the stockmarket hoping and praying for stock prices to go up in order to make money.