onegentleguy:
On OANDO...

As I stated earlier, a price of N20--25 is feasible though not without "bumps" every now and then as the stock pricing looks to respect technicals.
Pricing of assets in the financial markets does not necessarily respect Newtons 1st law of motion.

Technically, trend remains positive across key time-frames. (DWM)

Week 25-29 will be key. As long as pricing reproduces a W&M candle close above the red line as indicated, the probability of a short term trend reversal would be near zero, so long term holders have nothing to worry about.

Next trading activity (Monday) will likely herald the "battle for survival" as buyers wait around that support zone of btw N10--11.
I'd love to see a bounce to btw N10.35--10.50 post rejection at the low band of support then... and from where it could witness a few days of consolidation before another push up to within and then above that N13.3--14.6 now resistant range.

A close at or above the green line as indicated (ref: N12.10) may result in a bit of hesitation on the part of sellers while buyers will need to markup their bargain next week.

It is well.

lancee:
Access bank .. Ahead of uba now ..Is result coming soon

thebargainhunte:
https://nairametrics.com/2023/09/22/nigeria-secures-13-billion-oil-and-gas-investment-commitment-from-shell-exxonmobil-others-olu-verheijen/

Total, seplat, MRS and oando.

austinkenneth:


Are you aware that in the court-ordered meeting (an EGM actually), a 75% positive vote among those present is what is required to push this kind of decision through? Are you also aware that four shareholders hold 74% of the total shareholding?

That means the entire decision is dependent on what these four majority shareholders decide. That decision is whether to buy you out at N7.07 or higher. Of course they would prefer to buy you out at N7.07.

The other thing is the time of the buy-out. N7.07 today is not N7.07 in six months or 1 year. They would not only buy-out at N7.07, the payment date wouldn't be anything earlier than June 2024 (my guess).

mikeapollo:


What you said are mostly correct.
However, all minority shareholders are to vote at the EGM and decide on whether they agree with the 14 shareholders that went to court and requested for the buyout because those 14 litigants claimed they are embarking on the action on behalf of all minority shareholders. Once their action is rejected by the majority of minority shareholders at the EGM, this particular action/buyout issue is dead. But Oando can then start another fresh buyout process but based on different terms if they still want to delist.
The court is trying to ensure that the 14 shareholders are truly acting in the interest and on behalf of all minority shareholders, as they claim in their writ.

Streetinvestor2:
Still on conoil agm.what does the audit committee members do and the benefits of being a member.

My reason being that one Prof was the one who mobilised this students to the agm.Some old yoruba guys(no disrespect ment) played him to the game.His men whr outside and reached out to this students before they entered the venue and
offered 1000 each and the Prof lost in the voting
The Prof somehow left them to thr fate as how to get back to school after losing. The whole thing was funny. The guy who won has to start making arrangements and bearing the cost to get them back to school.

Streetinvestor2:
Still on conoil agm.what does the audit committee members do and the benefits of being a member. My reason being that one Prof was the one who mobilised this students to the agm.Some old yoruba guys(no disrespect ment) played him to the game.His men whr outside and reached out to this students before they entered the venue and
offered 1000 each and the Prof lost in the voting
The Prof somehow left them to thr fate as how to get back to school after losing. The whole thing was funny. The guy who won has to start making arrangements and bearing the cost to get them back to school.

debeey87:


I watched access bank agm for FY22 and like someone here said in time past, it would appear people to query the board have been pre-arranged. Theirs was transparent to an extent for voting as shareholders who were not present at the venue could vote on motions raised at the meeting if you join virtually. Except shareholders take agm seriously, mismanagement will continue. Shareholders in IB for instance will need to challenge their mgt at meetings on how they make so much revenue but still end up with losses every quarter or bloated operating cost.

Btw, what did the board have to say on why they paid 2.50 out of 7 naira

Streetinvestor2:
Still on conoil agm.what does the audit committee members do and the benefits of being a member.

My reason being that one Prof was the one who mobilised this students to the agm.Some old yoruba guys(no disrespect ment) played him to the game.His men whr outside and reached out to this students before they entered the venue and
offered 1000 each and the Prof lost in the voting
The Prof somehow left them to thr fate as how to get back to school after losing. The whole thing was funny. The guy who won has to start making arrangements and bearing the cost to get them back to school.

Frangel:


OODP already filed a cross petition upon which the court gave order for a Scheme of Arrangement to buy out all minority shareholders.

I will advise you read up this Oando transaction details available in the public domain via their NGX filings.

On NGX website, search for Oando, go through their corporate disclosures.

thebargainhunte:
https://nairametrics.com/2023/09/22/nigeria-secures-13-billion-oil-and-gas-investment-commitment-from-shell-exxonmobil-others-olu-verheijen/

Total, seplat, MRS and oando.

vacanci:



"Consequently, we confirm that Oando has applied for the SEC’s ‘No Objection’ to the Scheme. Please note that the effectiveness of the Scheme is subject to the approval of the shareholders of Oando at the Court-Ordered Meeting of the Company, as well as the sanction of the Federal High Court. The terms and conditions of the Transaction will be provided in the Scheme Document which will be dispatched to all shareholders following the receipt of an order from the Federal High Court to convene a Court-Ordered Meeting. If the conditions of the Transaction are satisfied and same is sanctioned by the Federal High Court, the Company will be delisted from NGX and JSE and re-registered as a private company.

https://www.oandoplc.com/press_release/oando-plc-announces-proposed-scheme-of-arrangement/

Frangel:


Correct.

But before that, this:

https://doclib.ngxgroup.com/Financial_NewsDocs/36201_OANDO_PLC-OANDO_PLC__CORPORATE_ACTIONS_JUNE_2022.pdf

essentialone:


The qualification date is 26 September, while the payment date is 6 October.

Frangel:


Correct.

But before that, this:

https://doclib.ngxgroup.com/Financial_NewsDocs/36201_OANDO_PLC-OANDO_PLC__CORPORATE_ACTIONS_JUNE_2022.pdf

Frangel:


Correct.

But before that, this:

https://doclib.ngxgroup.com/Financial_NewsDocs/36201_OANDO_PLC-OANDO_PLC__CORPORATE_ACTIONS_JUNE_2022.pdf

2cato:
What about lasaco and mansard should I keep them or sell

mikeapollo:


This is clearly stated in the last paragraph:

Today, OODP has a shareholding of 57.37% in Oando PLC and the above-mentioned minority
shareholders 42.63% shareholding. This action precipitated by the petition from certain Oando
minority shareholders, if approved by all the minority shareholders at the court-ordered meeting
will result in a voluntary delisting of the Company’s shareholding on the NGX in accordance with
its guidelines for delisting of securities .

Frangel:


OODP already filed a cross petition upon which the court gave order for a Scheme of Arrangement to buy out all minority shareholders.

I will advise you read up this Oando transaction details available in the public domain via their NGX filings.

On NGX website, search for Oando, go through their corporate disclosures.

Iamblessed85:


So the court case of october 10 is just to apprise the court of the status of the scheme of arrangement and not a sanctioning of the move. At what point will the shareholders decide whether or not to agree to the decision? I think in this case, it’s the minority shareholders that count and not the majority.

austinkenneth:
.

mikeapollo:


The cross petition filed by Oando and the Court's order for a Scheme of Arrangement do not take away the right of the minority shareholders to vote and decide whether to accept or reject the action of the 14 shareholders.
The minority shareholders will still vote at the EGM to decide the fate of the 14 litigant shareholders before anything else can happen.

mikeapollo:


This is clearly stated in the last paragraph:

Today, OODP has a shareholding of 57.37% in Oando PLC and the above-mentioned minority
shareholders 42.63% shareholding. This action precipitated by the petition from certain Oando
minority shareholders, if approved by all the minority shareholders at the court-ordered meeting
will result in a voluntary delisting of the Company’s shareholding on the NGX in accordance with
its guidelines for delisting of securities .

mikeapollo:


The cross petition filed by Oando and the Court's order for a Scheme of Arrangement do not take away the right of the minority shareholders to vote and decide whether to accept or reject the action of the 14 shareholders.
The minority shareholders will still vote at the EGM to decide the fate of the 14 litigant shareholders before anything else can happen.

Frangel:


The court order/transaction is no longer on the 14 litigant shareholders (who started it) but on the cross petition by OODP.

austinkenneth:
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Frangel:


The court order/transaction is no longer on the 14 litigant shareholders (who started it) but on the cross petition by OODP.