₦airaland Forum

megawealth01:
I like Wale's smoothness in speech during AGM. I look forward to it

megawealth01:
So the goal post has been shifted to Q4

Omooloriredade:
Q3 is coming up. Hopefully we see the NAOC acquisition effect in full force. I believe this is the market expectation. Deal completed within the quarter, so it should be included.

I'm not sure why a lot here were waiting so eagerly for the audited 2023 results. Were they expecting a marked improvement from the unaudited one?

The good thing is that audited 2023, Q1 and Q2 have been released and they were .......erm! The market sent the price from N90 to N60.
N55 to N60 seems to be a floor until the next FA event (the release of Q3 result). IF the NAOC acquisition reflects positively, I am (as do many here) inclined to think the SP will go on a run. Ah! I don't know o.

HesInMe:
Oando shareholder here. There is nothing positive about this.

Unless accounting has changed under Professor Wale, accounts receivables (AR) are sales that Oando made to customers and booked as revenue but hasn't collected cash. And there's a (bad) reason why not. It is not good when your customers have problems raising cash to pay you, "asset-rich" or not. And if you want to liquidate those ARs, which fool will stand ready to pay you face value for the privilege of being owed by those "asset-rich" debtors?

And please stop the special-dividend delusion. First, that AR has already been booked as revenue; it is not some new income. Second, a company as indebted as Oando is cannot be paying dividends. At minimum, that would probably violate their debt covenants. Creditors want their money first before you pay shareholders.

So why this weird proposal? I suspect, but do not know for sure, that it's got to do with concerns about recovery of the AR and the arcane, I-am-too-sharp-for-myself deals that Wale & Co have been doing behind the scenes. Instead of writing down the AR, which would negatively hit revenues, they're trying to shuffle the deck. Unless I'm missing something, that can't be good for minority shareholders. Perhaps I should've sold at N90.

yMcy56:
You know the issue with you sometimes is that, you tends to be seeking for convictions often, while you still behave as if you know much about this stock.

Not against keeping open minds, but some of the questions you're raising, you can't get answers here immediately like that.
If you have some info for us, pass it along, we all are seeking more clarifications on the new development but not more complications.

Even those that still come up with their views/info, you continue to ask unending questions.
We can't get all the clarity just in one day.
As more experts are digesting the info, we'll get much better explanations....insiders explanations may also come up.

yMcy56:
On this OANDO matter,
I hope we can all read what the AGM agenda says?? because all these Nsempa twists, I'm not understanding......
**Says those who owe the subsidiaries and would be resolved to pay back with share allotment.....
**Then this will be distributed to shareholders..... minority shareholders probably.

So, what's all these over analysis and big grammar twists all about?
Una don start again o.
If you don't understand, wait till AGM date for clarification, make una no come confuse person with paralysis here. 😁

MadmaxX489:
The receivable is the power plant which Oando share of ownership has a carrying value of 193billion and they are due to receive a buyout in 2025, hence the timing for this resolution. It has nothing to do with NNPC.

GeeKudi:
The effective date is the date of "the passing of this resolution" and not the date of the publication of its proposal.

bovali:
Quite insightful, thanks. Does the closure of register affect any of the resolutions? Or would it be the resolution date of 17/12 for qualification?

megawealth01:
My own is let him continue his games until my gambles enter $1/1 on Oando

megawealth01:
Wale go game us soon

megawealth01:
Is it owing Oando?

GeeKudi:
I think the catch now is to know the entities being referred to in that notice and one would be able to decide if it would be worth it.

In any case, you can be sure that this uncertainty in itself would drive SP up coupled with the Q3 that is rumored to be released before the AGM.

designking:
And when it pack up, that is when you will rejoice?

Let's celebrate every little gains. At least we now have 2 refineries (FG and Private) working and many more to come.

yMcy56:
OANDO
So, Annual General Meeting is coming up on the 17th of December, 2024

Wonder why nobody has mentioned the attached Resolution 3 under the SPECIAL BIZ.....
**Is OANDO planning bonus Issue?
OR, Debt to Equity conversion?

** Either way, it's looking more like positive action coming from the company.... Restructuring is coming!**

** Some receivables owed O&O to be converted to shares and then distribute to shareholders...... Something like Oando shareholders also becoming shareholders in those companies......some kind of additional shares to be distributed to O&O shareholders??
Accounting gurus, over to you o......and don't bother to comment if you're coming with your negative mindset. 😁

https://doclib.ngxgroup.com/Financial_NewsDocs/42646_OANDO_PLC-_NOTICES_OF_ANNUAL_GENERAL_MEETING_(AGM)_-__ANNUAL_GENERAL_MEETING_(AGM)_NOVEMBER_2024.pdf

docdes:
What percentage of those who "go school" is gainfully employed. Op, instead of you to waste your money and time getting a degree from a Nigerian University, go and learn a high-in-demand tech skill. Or, even use d money play 2 odds.

megawealth01:
NNPC Shows Off Sample Of Refined Petroleum Product At Port Harcourt Refinery

https://x.com/nnpclimited/status/1861411167505150320?t=EJ6QGohzHeVnIxDt_1i-mA&s=09[/quote]Mediocrity
We celebrate things that we should be ashamed of. What is the hype about when virtually all OPEC members have functional refineries in their country.
I would not be surprised to hear that the same refinery has collapsed and packed up in few months or days from now.

SocialJustice:
Tinubu broke a major jinx with this though.

Bagwa:
https://doclib.ngxgroup.com/Financial_NewsDocs/42646_OANDO_PLC-_NOTICES_OF_ANNUAL_GENERAL_MEETING_(AGM)_-__ANNUAL_GENERAL_MEETING_(AGM)_NOVEMBER_2024.pdf

Bagwa:
https://doclib.ngxgroup.com/Financial_NewsDocs/42646_OANDO_PLC-_NOTICES_OF_ANNUAL_GENERAL_MEETING_(AGM)_-__ANNUAL_GENERAL_MEETING_(AGM)_NOVEMBER_2024.pdf

Bagwa:
https://doclib.ngxgroup.com/Financial_NewsDocs/42646_OANDO_PLC-_NOTICES_OF_ANNUAL_GENERAL_MEETING_(AGM)_-__ANNUAL_GENERAL_MEETING_(AGM)_NOVEMBER_2024.pdf

Donaldoni:
The refinery will NEVER work if Buhari were still the president!

Basicend:
If NNPCL can get this running consistently. . Then we need to praise Tinubu govt for doing what Buhari and even GEJ and OBJ could not do all these years.

Let stylishly fold our hands and watch what will happen to Dangote's prices. Afterall, he claimed to be doing Nigerians a favor by reducing PMS to N970 few days ago.

I said it before, a monopoly will never emerge in the oil and gas sector. Esp. if Tinubu is still there as president. We are watching. .

Willie2015:
PMB started it ...
BAT finished it....
Its BAT choice to stop it or continue with it...

Macphenson:
Floating the Naira alongside subsidy removal is the most stupid, incompetent, ignorant and foolish economic decision ever made in the history of this Nation.

Willie2015:
/https://nairametrics.com/2024/11/26/port-harcourt-refinery-begins-production-as-truck-loading-commences/

Nice one from BAT

Bagwa:
https://doclib.ngxgroup.com/Financial_NewsDocs/42644_OANDO_PLC-OANDO_PLC_-__CORPORATE_ACTIONS_NOVEMBER_2024.pdf