₦airaland Forum

timesuploaded:
They are not fighting a guerrilla warfare. This is nor 2006. When the real war starts you will understand. Mark my word, Israel will be invaded by Hezbollah. Keep your eyes on the news

And where are the Hezbollah Fighters?

Hezbollah keep hiding and shooting missiles, they should come out and fight Isreal man for man

KarlTom:
This same OandO will likely close on FULL BID

Abi full-Offer

megawealth01:
Yeah... The market is being careful

Wahala be like

I think today is MPC meeting

Bagwa:
Japaul done deal take position before it will scares

Whats the deal?

megawealth01:
Pls explain sir so I can be guided

Amidst controversial N140 billion purchase, NNPC halts takeover of OVH

The Nigerian National Petroleum Company Limited (NNPC Ltd) has said it is unable to complete the acquisition of OVH Energy Marketing Limited‘s downstream assets.

The declaration is contained in a letter dated 17 January, addressed to the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and signed by the managing director of NNPC Retail Limited, Huub Stokman.

The letter is titled, ‘Notification of inability to complete OVH Energy Marketing Limited terminal, plants and depot takeover and intent to apply for operating licenses’.

The NNPC Ltd had in its latest financial statements said it paid cash amounting to $325.09 million (N140.559 billion) for the acquisition of Oando-branded retail stations and a reception jetty in Apapa, among other facilities.

However, in its letter, the NNPC Ltd said it has become evident that it cannot complete the merger deal.

The company said it intends to apply for operating licenses for the facilities under OVH Energy Marketing Limited.

“We appreciate the ongoing collaboration and support from the National Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in facilitating the acquisition of OVH Energy Marketing Limited.

Background

The NNPC Ltd had in October 2022, announced the acquisition of OVH Energy Marketing Limited’s downstream assets. By this acquisition, OVH Energy would be merged with NNPC Retail, a subsidiary of NNPC Ltd.

The assets acquired from the company, which operates Oando filling stations, also include a reception jetty with 240,000 metric tonnes monthly capacity and eight liquefied petroleum gas plants, three lube blending plants, three aviation depots, and 12 warehouses.

But in June 2023, PREMIUM TIMES’ investigation on the acquisition exposed the secret deals and the complicated ownership structure that left managerial control of NNPC Retail in the hands of OVH Energy Marketing.

The report also exposed how OVH Energy Marketing only had about 94 stations and how over 100 stations were leased.

In addition, the report highlighted how Mr Stokman, an expatriate and former Chief Executive Officer of OVH Energy, emerged as the new Managing Director of NNPC Retail, a development that further compounded the structure of NNPC Retail.

megawealth01:
Na nnpc I dey wait for oooooo

I would rather buy Dangote fertilizer and refinery, than NNPC.

NNPCL is filled with redflag.

megawealth01:
Dangote's statement during the AGM could be the factor

I suspect he and his cronies might be buying.

Mpeace:
Thats cos sugar is way way cheaper than salt at the moment. Once sugar comes to salt price region, things would start looking different.

Salt is cheaper than Sugar.
Salt -N36.30
Sugar - N42.75

DANGSUGAR on full bid
NASCON on full offer

Crazy Market

yMcy56:
True
He said he disagreed with SEC and that (what transpires) wasn't a discussion for then......
Meanwhile old SEC team sacked and new team inaugurated by BAT. May likely revisit the issue.

Link to the AGM....
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://m.youtube.com/watch%3Fv%3Dk3Cl3wtWkRk&ved=2ahUKEwjo86bd2eyFAxVSVkEAHQmKCUsQz40FegQIERAI&usg=AOvVaw1mGjoLYPdoZkM6gszE5h1R

I think NASCON and Sugar shouldn't have released the suspension info before this AGM.

The AGM gave a clear picture

crownprince2017:
On presco matter, I will just say thank you sir Emma for the pointer.
This is just a wake up call for what is about to happen in Ellahlakes, farming they mint money everywhere in the world and will mint more in Nigeria where food is the obvious problem.

It all depends on the management Ellahlake, FTN Cocoa and Livestock feeds have been badly managed over the years.

Presco and Okomu have solid management.

Dangote sugar Agm yesterday 30 April 2024. Dangote says he disagrees with SEC on the Rice issue. It appears SEC wants the Mills to start production before it can approve . He also said the jigawa mill will soon be commissioned any time from now and that they will represent their documents to SEC. He said the jigawa mill is 5time the lagos mill and they should produce up to 30% of national processing capacity. So it appears Rice would be part of the second presentation to SEC.

Locotrader:
Monday May 13 to May 27 are dates for closure.
Qualification date 10 May.

Seems the registrar African prudentials will credt these shares within the both dates.They are always fast in doing things.

No. credit day is not known yet.

Locotrader:
Na waoh

https://doclib.ngxgroup.com/Financial_NewsDocs/41009_CHAMS_HOLDING_COMPANY_PLC-_QUARTER_1_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_APRIL_2024.pdf

The result is not bad.

Mpeace:
The fact that dangsugar has not issued any statement yet, might imply that there might be further developments or discussions.

The new merger might be between NASCON and DANSUGER.

Streetinvestor2:
14 sugar for imaginary rice.Way all those way dey post link give me,lol
I remain a street investor

Them wan do us 419

The suspension is due to the comments and recommendation of the Securities and Exchange Commission (“SEC”) centered around the current non-operational status of Dangote Rice Limited.

So the company has closed down yet they want to merge it with active business.

Krismas:
bring it on. israel is about to disappear from that area for good

Na mouth una get

That's not new.
Most wealthy People belong to cults.

yMcy56:
Meanwhile, F.u.g.a.z. no dey gree for anybody

The resistance of GT and ZEE to keep moving is high....

GT exited the pullback already!
ACCESS not doing badly since market opens....
UBA exited the earlier red...

OANDO self no dey gree for anybody.....
CHAMS on full bid @2.11....

CHAMS on full bid
This company in another .....

BuchyD:
For many month you mean...... 3 months na still child's play for where conoil dey

Na true o.
CONOIL sabi lockup wela

yMcy56:
Lol. It's a stock for long termers.
If you see a good trader in this, then the person must be sound in TA and must Target the mvmt period closely.

Yes

yMcy56:
What about Betaglass, Notore, Berger, DANGCEM, JBERGER, etc.

Someone was complaining about not been able to exit SEPLAT recently. Some of these big caps too can trap for many days. They have their movement periods too........

So, let's not continue to focus on Penny Stocks alone......and be quick to tag it and try to make it seems that someone is MH it to trap people.

The same Multiverse @13 is actually N1.30k if we consider the pre-construction period.
It was trading @0.20k/0.24k before the 1:10 (1 for every 10 held) reconstruction took place

When it comes to big caps illiquidity, Conoil is Baba.
Conoil can trap you for a month.
Any positive news Full-Bidd
Any negative news Full-Offer

Locotrader:
I blame myself for not taking position in the illiquid Transcorp hotels. from #7 to #100.
Village people is using this illiquid stocks to deny alot of people success stories.

With this illiquid stocks, I still respond to emergencies

Transcorp hotels usually allow buying and selling sometime.
Just monitor the movement.

yMcy56:
Let's correct one notion here: Hope you know illiquidity is not peculiar to penny stocks alone!

Could remember being somehow trapped in MRS at N12 with my tashere units and had to sell it off @13 or so due to illiquidity but today, that same MRS is trading at circa 100!

While you're very correct about illiquid stocks trapping, we should at the same time always have reasons for buying it.

What's the news surrounding it? What is FA saying? How does TA view it? Are you for short, medium or long term? Is result approaching and there's expectations of dividend payment, which will in turn increase activities in the stock, whereby you can exit conveniently? Is there any buyout/MTO/Merger news yet to be made public? Is there any special positive things driving it? Etc.

Now even if you buy it, what's your Plan B?
For instance, people were holding on to Sugar and Salt, not because of the financials but because of the Merger news in view.

If you notice that I didn't even mention JULI all thru.....it was because we don't know what's driving the share price.... someone somewhere was just using less than 200k daily to manipulate the share price.

So, you see, it's not enough to follow herds mentality but also do your DD if you know how to do it and don't be greedy with it.

PZ rose up to 40 and I'm sure some people would still be holding unto it, believing it will touch 100, later they may come to complain about being trapped as well.

CONOIL is the King of illiquidity.

She deliberately gave him up

Cosmicwill:
I'm new to NSE investment. I bought Dancem at 763.70 with all I the money had now it's 686.70 made losses already. I understand It might rise or fall but the challenge now is that I want to sell it and the broker I used, Trove can't sell as they said there is no buy order yet. what do I do?

You are new on NGX and you went to buy DANCEM @763.70 why?🤔

We have warned several times to buy Nigeria only with registered SEC brokers.

Trove, Bamboo and co aren't brokers

Princkez:
Dear Sir/Ma,

We are delighted to announce that the Facts Behind the Listing and Closing Gong Ceremony of Transcorp Power Plc to commemorate the Listing by Introduction of 7,500,000,000 Ordinary Shares of 50 kobo each at N240.00 per share on Nigerian Exchange Limited is scheduled for Monday, 04 March 2024

Please see details of the event:

Date: Monday, 04 March 2024
Time: 2:00 PM - 3:35 PM (WAT)
Venue: 8th Floor (Trading Floor) and 20th Floor (Event Center)

This document is classified as: DC3 - Authorised Use Only – CONFIDENTIAL

Regards,

Broker Dealer Regulation Department
NGX Regulation Limited
Nigerian Exchange Group House
2 - 4 Customs Street
Marina, Lagos
Nigeria.

Transcorp Power Plc listing.
It means Transcorp Power Plc is separate from Transcorp .

Uncle Tony don play us

Revenue up 22%
Operating profit up 5%
Finance income up 87%

But

Exchange loss N740b up 804%

CBN

I love Putin's Knowledge of History.

Ukrian is an Artificial state