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Nairaland Forum / Nairaland / General / Investment / SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist (8236 Views)
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SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by FreeStuffsNG: 11:07am On Mar 20 |
The Securities and Exchange Commission (SEC) has rejected the request by the majority shareholder of PZ Cussons Nigeria Plc to acquire the stocks of the firm held by other shareholders at N23 per share. https://businesspost.ng/economy/sec-rejects-pz-cussons-request-to-buy-minority-stake-at-n23-per-share/#google_vignette 15 Likes 2 Shares
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Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by FreeStuffsNG: 11:07am On Mar 20 |
According to a quote by Nairametrics “Any amount below N100 per share is completely unacceptable to the Nigeria shareholders and will be resisted appropriately.” This explains why the share price of PZ is currently trading even above the offer price of N23. Same reason Oando shareholders rejected the N7.07 offer by Oando's OODP majority investor. Now that SEC is protecting the interests of the minority shareholders, Oando shareholders should not demand anything less than N500 niyen. God bless Nigeria for ever! Check my signature for free stuffs! 30 Likes |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by ClassicMan202(m): 11:26am On Mar 20 |
First to comment 😄 PZ too wan Japa? Nobody is going anywhere..... We must all face balablu together Werey wey dey disguise 4 Likes 1 Share
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Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Curdlebug(m): 11:26am On Mar 20 |
But country hard |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by othermen: 11:27am On Mar 20 |
Ok |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Duelee: 11:27am On Mar 20 |
In the other news: I'm presently buying LinkedIn accounts. WhatsApp 09..025-70..33-66 |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Ekakamba: 11:28am On Mar 20 |
Considering the prevailing economic conditions, it is advisable for PZ to raise the price they are offering to minority shareholders per share. They should consider offering between 50 to 80 naira per share. 10 Likes |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Moyinoluwa35(f): 11:29am On Mar 20 |
Hm |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by superlanny(m): 11:29am On Mar 20 |
I was expecting this , PZ is not a viable company again and after posting those massive losses last month I knew the end was coming near. Nigeria is hell for investors and at the moment is like throwing money into fire, PZ is deep in debt and not making profits so why should SEC grant their request of majority shareholders to rip the minority by buying up their shares for cheap. If they want to go private, they must pay through their noses.lol It’s sad but I can predict PZ packing up and leaving soon if nothing changes in their current predicament. Unfortunately, thousands of jobs will be lost. 9 Likes 1 Share |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Preferito(m): 11:30am On Mar 20 |
Anyone who has something to say should come and buy this space 2 Likes |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Ajens1991: 11:33am On Mar 20 |
Good investment decision. No shareholder can invest in a firm where they cannot make profit. 2 Likes |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Godswillu(m): 11:35am On Mar 20 |
My fear now is that they can declare bankruptcy since they have been making loss and the minority shareholders may not get any Kobo let both PZ and SEC reach an agreement so both parties can benefit 4 Likes |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Ekaette1621990: 11:37am On Mar 20 |
A killer hen a killi hen and a hen a turn a head and face the plucker. I laugh in Swahili 😂😂😂😂😂😂😂😂😂 |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by LordIsaac(m): 11:39am On Mar 20 |
PART of the reasons why they are folding up is because the corrupt money and unregulated business environment they were hitherto enjoying is no longer feasible. Before you crucify me, check the word PART again! 2 Likes |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Pipapi1: 11:43am On Mar 20 |
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Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Validated: 11:50am On Mar 20 |
FreeStuffsNG: What if PZ Holding (Nigeria) declares bankruptcy? The ordinary shareholders will get nada. In financial management, there is what is called "a bird in hand" theory. Imagine that SEC approved N17 in Sep 2023, would it not be more valuable than N23 of today? All Nigeria shareholders should hold Tinubu accountable for their monumental losses. If another president was in AsoRock, Naira would not be so badly deprecited by over 400% as seen with Tinubu. A failure will also look for who to blame! 4 Likes 1 Share |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Skillsnigeria: 11:52am On Mar 20 |
Hmmm |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Onewazobia(m): 11:53am On Mar 20 |
ClassicMan202: Oga please ooo, which one be this? |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by adioolayi(m): 11:54am On Mar 20 |
Nice one by SEC They don catch them... Pose a massive lose Year On Year and force down share rates... Then make move to buy the dips from every other shareholders... The company will rebound with massive profits..shares go up and resell ..to make mad profits Tricky wisdom 6 Likes |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Dbegining: 11:54am On Mar 20 |
That first to comment guy is just saying nonsense. Cause before you talk about protecting the image of a share holder, the question is how much did they buy the shares? And what us the valuation of the company now? Fr a company that is winding down, the value can't be too high. This is just a move by the govt to prevent that company from leaving, by force. And they dont sit to think about what other prospective investors will think about this move. PS: the company has already declared that they are moving out of Nigeria since January. 2 Likes |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Babaken(m): 11:56am On Mar 20 |
PZ that increase their product every week. |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Onewazobia(m): 11:58am On Mar 20 |
LordIsaac: Possibly but please what's the word "PART" mean? |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by wman(m): 12:03pm On Mar 20 |
Good. The offered share price is too low. |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by FreeStuffsNG: 12:04pm On Mar 20 |
Validated:Smh. It's obvious that you are not knowledgeable on this subject. PZ has been rumoured to be planning to delist for at least 3 years now and how you want to link it to an administration of less than a year indicate that you are ignorant. I will not enlighten you on this subject because you can't still and won't be able to comprehend my explanation. if you desire to know why PZ can't declare bankruptcy and the chance of doing so is near zero, download their latest audited result and get an experienced accountant or Stockbroker to educate you on it. PZ has been sitting on huge pile of cash for donkey years. 8 Likes |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by miqos02(m): 12:06pm On Mar 20 |
Godswillu:don't forget they have assets that can be sold 1 Like |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Atarakpa: 12:11pm On Mar 20 |
superlanny:tell me what I don't know. How do you the company is in debt. For sake of clarification the company is not owning any Nigeria bank. |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by mikeapollo: 12:47pm On Mar 20 |
Validated: The majority shareholders would also lose and get nada if PZ should declare bankruptcy! Are they willing to take that risk? So the offer price should be reasonable if they are offering to buy out the minority shareholders because the company is not folding up. They will still overcome the present losses and start making profits in future. I am particularly happy that SEC took this decision on PZ, as it is a very good precedence that would enable them make the same decision against Oando that wants to do something similar. We all should encourage the SEC to be bold and not allow some majority shareholders to manipulate and cheat minority shares (and the larger stock market) just because we have a very useless and clueless president like Tinubu who issues policy directives recklessly before thinking thoroughly about the implications and impact on the people! 1 Like |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Hanndye: 12:54pm On Mar 20 |
Who come be like say hin done enter one chance now? |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by CountinBlessins(m): 12:59pm On Mar 20 |
FreeStuffsNG: There you go again 🙄 , opening your mouth about a topic that you are not equipped to understand mentally. Why not relax and hangout In the romance section? 2 Likes |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by heniford2: 1:21pm On Mar 20 |
Doing business in Nigeria now not easy at all. 1 Like |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by olisaEze(m): 1:27pm On Mar 20 |
If you don’t let them leave, they’ll abandon the country with useless shares in the hands of shareholders. In the ten months of the bricklayer of Lagos’ admin, almost all the big pharma has run away with the middle class. Oil companies nko, dey run far enter water like they can’t stand the gross incompetence & corrupt ineptitude on display. Nine yrs of APC and Nigeria is now keeping ranks with Afghanistan & Somalia. There’s no sugarcoating it, the ronu Yorubas have totally destroyed this nation! This isn’t tribalism but the facts on ground. 4 Likes 1 Share |
Re: SEC Declines PZ Cussons’s Request To Buy Other Shareholders And Delist by Obierika(m): 1:31pm On Mar 20 |
adioolayi: They're not the only ones who posted losses. Any company that had a sizeable forex loan also posted huge losses due to the devaluation of the Naira |
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