₦airaland Forum

megawealth01:
Wale said "distribution" na Wale I follow nobi any other person. He even said he go dey share us billions yearly

You dey follow Wale ke?
I still feel like I am dreaming!
It is the same Wale ooooo ...... the same Guy man, Cowboy, Gangster, Rambo man, Game player, etc.
Be careful ooo....that is my sincere advice if you still wan to follow am

Raider76:
Thanks Sis. I new that the bonus isn't going to cause any dilution as no new shares will be created. Just wanted to pin the guy who made the post saying it is "dilutive". Some people like making careless and emotional statements that lead others to lose money.

In fairness, I think the word ''bonus'' being used by people is the cause of the confusion.
The word ''bonus'' ordinarily would mean a dilution; the reason the company itself has been using the term ''share redistribution'', and has avoided using the word ''bonus''.
Share redistribution simply means that pre-existing shares are being withdrawn from some shareholder(s) and redistributed to other shareholders, therefore no increment in the total number of shares.
However, the recipients of the redistributed shares will have higher percentage stake in the ownership going forward.

ProphetUtuocha:
I won't say much:
Those who have ears
Let them hear
A new season has come
A new Oando is born
A heavy wind is coming
These are rare opportunities!

Thanks for not keeping the good news about Oando to yourself.
But we are still expecting the new gem that you promised to reveal sometime ago

HesInMe:
Thanks. Source, please?

The full details was read by one of the independent directors at the AGM

HesInMe:
Win-win ke? If I owe you $1 million, and instead I offer to pay you either a) $1 million in cash, or b) $1 million equivalent in Oando shares at today's valuation (as bonus shares, which are dilutive) which option would you choose?

How is this even legal?

Would you prefer they write off the debts and incur a huge loss in the P&L which would not be of any benefit to shareholders?
Apparently, the debtors have been unable to pay.

What is being proposed by Oando is a compromise which could work to shareholders' advantage if the forfeited shares are appropriately valued and the share price on the NGX rise after the redistribution .
Whether it is legal or not may also depend on the nature and terms of the original transaction between the related parties e.g. if the loan was given for the purchase of the shares etc

BabsO2:
Wale should push the Auditors and Accountants to do better and not lag too much behind SEPLAT and ARADEL in reporting. In this new beginning no no to delayed reporting. If Seplat Audited comes in March. Oando should deliver its own latest April and not June please.

Like play, like play, Wale seems to be winning our hearts gradually, one by one.
I said it sometime ago, that Wale would be careful to have some good reputation in the eye of the public, at least Oando shareholders.
It would be too bad for him to have a very bad reputation at a time when his uncle too is having a very terrible reputation as T-Pain, with all the backlash because of the common surname, Tinubu!

megawealth01:
My joy in this whole thing is that Wale said that he isn't delisting Oando...

In the days ahead Mr Time will do the needful?

WALE should go and sin no more?

Wale has also tried by ensuring that Oando is now compliant and up-to-date as regards NGX/SEC requirements for filing of quarterly results. Hopefully, we should have the unaudited accounts for Q4 2024 by Mar/Apr 2025 and the audited version by Jun 2025.

Agbalowomeri:
E reach Oando turn, bonus becomes calculus

Lol
Na true you talk oooo!
Endless abracadabra for Oando

BabsO2:


He should please position Oando to beat SEPLAT in having the biggest Assets while delivering to Oando Plc shareholders more equitably.

I also laugh the same way you laugh!
Wale has just converted the number one ''unbeliever''!
His reward awaits him in Heaven for winning a soul; a soul that would make Heaven and also make more money from Oando shares!

Mpeace:
Are you saying that they will not create additional shares for that purpose? If yes, then thats awesome for oando shareholders

It is just me guessing and thinking aloud.
But even if they create new shares and common shareholders still control 65% of the outstanding shares, then it means only 35% would be available for the promoters and related entities.

BabsO2:
Is this a form of restitution from O&O to Oando plc shareholders?
A sign of new good beginnings

I think some directors or related entities that hold Oando shares and still owe the company money but are unable to pay cash for the debt. Hence they have chosen to forfeit their shares as partial or full settlement..
I just hope those shares were valued appropriately, otherwise the receiving shareholders could still be shortchanged.

The result of this exercise would mean a reduction in Wale, his fellow promoters and related entities' controlling interests from 58% to about 35% (i.e. if none of the 65% common shareholdings belong to them in any way)

GeeKudi:
But, there is a clue already. The current 42% of common shareholders will increase to about 65%.

Please can anyone verify this for me:

I did some rough estimates of the possible ratio for the bonus redistribution by Oando, based on the numbers provided above i.e. current 42% common shareholders to increase to about 65% after the exercise.

It seems the bonus could be in the ratio 1:2 (i.e. 1 new share for every two shares previously held).

Please the finance and mathematics gurus should help confirm

NSEstudent:
Nigerian banks should be able to transact with them using the prevalent rates. I suppose they just need authorization and a gateway for that to happen.

These international banks would only accept convertible currencies like USD or EUR.
So how would Nigerian banks pay them if there are no domiciliary accounts in operation in Nigeria?

NSEstudent:
As for paying for imports, AliExpress and its senior bro, AliBaba are apparently accepting naira via Opay and Globus respectively. Not a problem. But how would Nigerians in Nigeria get paid by foreign companies?


We will resort to opening foreign accounts and receiving those funds in dollars, only converting when we want to spend.

I am talking about international currency clearing systems with global banks like HSBC, Deutsche Bank, JPMorgan Chase, Wells Fargo & Co. (WFC) & Co. etc.

LegendHero:
Jagaban the strong man.

He got the network across the world. He has been friend with John Mahama from way back.

Needless talk! Please let us hear word!
Previous Ghanaian presidents have always visited previous Nigerian presidents on several, multiple occasions, even at the time when Tinubu was doing drugs in USA!

Willie2015:
How do you pay for international transactions if there is no Dom acct ?

Are the banks ready to remit dollar and debit my account in Naira...?

We like to implement laws in Nigeria without first building the operational framework ...

Exactly!
They are talking as if Nigeria is mostly export-oriented country like China or Russia.
As long as we depend on imports. the seller will always dictate the currency of transaction.

Agbalowomeri:
It will work

That provides a legal ground for prosecution

I expect dom accounts to be outlawed by the same bill

It is a good idea but the usefulness or practicability may be limited because the naira is not a convertible currency in the international markets.
How would you pay for imports and online purchases if they outlaw domiciliary accounts.
Stop going too far. Nigeria is not China or Russia

designking:
Make Oando hurry up return back to ₦30/₦40 so that we can load more for a long term hold.

For now, forget about Oando doing ₦100. It will oscillate between ₦45 - ₦65 which is ₦20 possible takeout each cycle.

Na clowns full this Oando management. They are not serious for a mega oil Corporation. They should learn from Seplat and Aradel.

Go revise your notes. Oando has hit N73 already.
The news about the bonus and other prospects seem to sound good to investors.

megawealth01:
It's #70+ at the moment oooo

When people digest the news from Wale eh 😘

Oando hitting N73 already

Princkez:
I think so...they opted for cash distribution instead ,amount is still unknown

Is this about Oando?
If yes, why would shareholders opt for cash payment when the company is struggling with cashflow?
Why not bonus shares and then sell the shares for profit?

megawealth01:
Welcome to a new OANDO according to Oga Wale. It's a new DAWN of prosperity and possibilities

Miracles are not impossible for God!
Megawealth and Wale in sync! Incredible

megawealth01:
MERITRADE

Thanks

megawealth01:
See madness... Una don dey rush my gambles

Which portal provides these info on the market?

megawealth01:
To qualify for the redistribution, I think today is the qualification date?

Yes, but it is strange why there is no mention of the ratio. Could it be because they are not yet sure of the possible outcome of the options under consideration?

GeeKudi:
But what was pushing the people selling before?

It's so difficult to understand the behaviour of the market sometimes.

Most people (and media houses) just compare the percent difference between the current year quarterly profits (Q3 2024; N76b) and prior year profits (Q3 2023; N110b), and take their investment decisions based on the 44.7% drop.
They hardly take time to go through other details.

megawealth01:
Something that should enter full bid when people digest all Wale said with full chest

Never say never!
I am beginning to see some new, latter-day ''Wale converts''!
There is no one and nothing that God cannot change!

Princkez:
OANDO will do full bid today...

How, why?
Please give some context or reason.

megawealth01:
According to WALE. OANDO is no longer delisting...

I just hope he has truly repented. His response today is civil and feels like he has repented?

Lol
Can he be trusted by you and I?
Do we believe him?
He must tell us where and when he was finally delivered from his old ways, before we take him serious!
But I am excited by the latter-day renewed interest in Oando by the big guys here on NL ( I no mention name ooo.)

Raider76:
Wale said categorically there is not intention of taking Oando private.

Make una listen well and attentively ooo.
Some of us are not able to follow the webinar so we will be relying on feedback from you (before we are able to watch the vide clips later on)

designking:
Make Oando hurry up return back to ₦30/₦40 so that we can load more for a long term hold.

For now, forget about Oando doing ₦100. It will oscillate between ₦45 - ₦65 which is ₦20 possible takeout each cycle.

Na clowns full this Oando management. They are not serious for a mega oil Corporation. They should learn from Seplat and Aradel.

Lol.
A similar pull back happened when the Q2 results were published. The price may fall lower but it will rise again. Everyone who is currently disappointed with Oando, still understands that it has the potential to achieve N100 and above if there should be one good results for Q4 2024 or Q1 2025.

bovali:
On this oando agm, all I’ll say is some of these shareholders are weapons fashioned against the company. Rather than hold management accountable they’re doing eye service

Thanks and God bless you my sister!
These Oando shareholders at the AGM are just too hypocritical for my liking. They did similar thing at the previous AGM. Seems like they were either planted by the management or seeking some favours from them
I regret not being able to attend.

Sunrisepebble:
I was looking for quick Jijo. I don’t have as much faith as some of you do in Wale but I’ll keep my units for now

Lol.
There will always be opportunities for Jijo.
The price has started falling. You can wait and buy when it falls to your preferred or comfort level and sell again when it rises.
Oando has good potential but its journey to full recovery will not be an easy ride .