₦airaland Forum

RichEstate:
Please enlighten me. What's about this move from them?

Its to capitalize unissued shares to increase OS (Outstanding Shares) and working Capital.

I've discussed extensively about VFDGROUP here in the past together with one or two Nsempas that contributed that time.

1. Total outstanding shares (OS) presently is 253,369,820 (in millions)
2. There's now a plan to increase this to N1.263bn+ by capitalizing unissued shares worth N506M to ordinary shares of 50k each
3. If you divide this sum by 50k nominal value, you'll get the number of bonus shares arrived at......for distribution to shareholders.
4. IN SUMMARY: VFD is distributing 1,013,479,280 unissued shares to shareholders who owns 253,369,920 existing shares........
** This brings it to 4 new shares for every existing one held........AND, the new shares will rank in pari passu with existing shares.

** Quite a number of Companies issued bonus in 2022 FYE as well......so nothing strange here...... Except that VFD's bonus is so juicy. If you still have it, then HOLD!
** Qualification Date is 14th June, 2024
** Hope I answered you in my own little way.

megawealth01:
IEI...
My broker just sent me a mail of MANDATORY TAKEOVER...
What's really happening? Any update?

This has been on for over a year self.
Think the delay had been from SEC for whatever reason that led to prolonging it.
* Good they fired those lazy set of team
** If you'd been following discussions on this thread, then you should have been up to date with the IEI MTO saga

If only they keep to their words.

Which kind wahala be this?
Village people Don put hand for champion come put hand for IEI again.

No wonder they posted a big loss in this year's Q1 to pull the price back.Its a pity for #1.60

You're the best. Thanksas always.

yMcy56:
Its to capitalize unissued shares to increase OS (Outstanding Shares) and working Capital.

I've discussed extensively about VFDGROUP here in the past together with one or two Nsempas that contributed that time.

1. Total outstanding shares (OS) presently is 253,369,820 (in millions)
2. There's now a plan to increase this to N1.263bn+ by capitalizing unissued shares worth N506M to ordinary shares of 50k each
3. If you divide this sum by 50k nominal value, you'll get the number of bonus shares arrived at......for distribution to shareholders.
4. IN SUMMARY: VFD is distributing 1,013,479,280 unissued shares to shareholders who owns 253,369,920 existing shares........
** This brings it to 4 new shares for every existing one held........AND, the new shares will rank in pari passu with existing shares.

** Quite a number of Companies issued bonus in 2022 FYE as well......so nothing new here...... Except that VFD's bonus is so juicy. If you still have it, then HOLD!
** Qualification Date is 14th June, 2024
** Hope I answered you in my own little way.

https://nairametrics.com/2024/06/05/fidelity-bank-plc-undertakes-a-n29-6bn-rights-issue-and-n97-5bn-public-offer/

This is supposed to increase Fidelity Banks issued and paid up shares to over 41 billion units and the qualifying recapitalization capital to a little over 260 billion, if I'm not mistaken. Does it mean that they will be considering a merger, license downgrade to National or further capital raise after this to meet up the 500 billion for their current international license?

Please how do i liquidate a share on Afrivest? Tried to since last week and it's still pending even when o did it again.

Mpeace:
If only they keep to their words.

Good news for transcorp power

SonofElElyonRet:
Good news for transcorp power

no wonder there was lots of trading on TRANSPOWER yesterday....let's see what happens

chillykelly86:
https://nairametrics.com/2024/06/05/fidelity-bank-plc-undertakes-a-n29-6bn-rights-issue-and-n97-5bn-public-offer/

This is supposed to increase Fidelity Banks issued and paid up shares to over 41 billion units and the qualifying recapitalization capital to a little over 260 billion, if I'm not mistaken. Does it mean that they will be considering a merger, license downgrade to National or further capital raise after this to meet up the 500 billion for their current international license?

If they're in the N500b league, then this may be only the beginning of the capital raising.
They may source for the remaining money thro international avenues.
They have until 2026.

yMcy56:
This has been on for over a year self.
Think the delay had been from SEC for whatever reason that led to prolonging it.
* Good they fired those lazy set of team
** If you'd been following discussions on this thread, then you should have been up to date with the IEI MTO saga

Thanks sis. Just noticing it

Pls as regards IEI takeover, what will happen to my shares if i do not accept the offer?

Ding

Ding!

It's a MTO. I don't think you have options....

Palomadove:
Pls as regards IEI takeover, what will happen to my shares if i do not accept the offer?

Palomadove:
Pls as regards IEI takeover, what will happen to my shares if i do not accept the offer?

You must accept by fire

KarlTom:
It's a MTO. I don't think you have options....

Wow...thank you

SonofElElyonRet:
You must accept by fire

Haba
Thank you

Palomadove:
Pls as regards IEI takeover, what will happen to my shares if i do not accept the offer?

Most people replying you are actually ill-informed of the workings of an MTO especially with respect to IEI.

The MTO will stand only if shareholders give up at least 90% of the 634,212,476 IEI shares Norrenberger is seeking to buy. If by the end of the deadline, they are able to get at least 90%, the remaining 10% shares of those who did not accept the offer will be taken forcefully.

But if at the end of the deadline, shareholders did not give up at least 90%, Norrenberger will have to make another bid with a better price. So the onus now lies on those holding IEI shares.

The market says otherwise...

SonofElElyonRet:
Good news for transcorp power

megawealth01:
Shell Assets Acquisition: Aradel assures shareholders enormous benefits

https://tribuneonlineng.com/shell-assets-acquisition-aradel-assures-shareholders-enormous-benefits/

Dividend landed.

IF the share price should rise considerably in the next couple of days, we might see a widespread refusal.
However, the shareholders structure will determine if they would make or fall short of the 90% quota...

222Martins:
Most people replying you are actually ill-informed of the workings of an MTO especially with respect to IEI.

The MTO will stand only if shareholders give up at least 90% of the 634,212,476 IEI shares Norrenberger is seeking to buy. If by the end of the deadline, they are able to get at least 90%, the remaining 10% shares of those who did not accept the offer will be taken forcefully.

But if at the end of the deadline, shareholders did not give up at least 90%, Norrenberger will have to make another bid with a better price. So the onus now lies on those holding IEI shares.

KarlTom:
IF the share price should rise considerably in the next couple of days, we might see a widespread refusal.
However, the shareholders structure will determine if they would make or fall short of the 90% quota...

How will it rise.will you buy above 1.60

It has been a while we heard from emma wumi,

ojesymsym:
It has been a while we heard from emma wumi,

Kindly reach out to him via the NSE WhatsApp group

How? Una get whatsapp group? Make una add me to the group na

How do I join ?

Meerahbel:
Kindly reach out to him via the NSE WhatsApp group

Fidelity Public offer #9.75k
Right issue #9.25k

June 20th to July 29th, 2024

ojesymsym:
How? Una get whatsapp group? Make una add me to the group na

How do I join ?

Send him a DM with your number

For those interested in INTBREW RI, I learnt the ticker is live on ARM: RR24INTBREW.

...

RichEstate:
Fidelity Public offer #9.75k
Right issue #9.25k

June 20th to July 29th, 2024

RichEstate:
You're the best. Thanksas always.

You're welcome.

Believed you know how these things works.....
* Think long term
* Bonus Issue: 4 new shares for every 1 held
* After Qualification Date, it will be marked down
* Just keep some funds aside to average it down to enjoy maximum gain on it in the medium to long term....by the time the bonus is added to your portfolio
* Wish us all the best.

Locotrader:
Which kind wahala be this?
Village people Don put hand for champion come put hand for IEI again.

No wonder they posted a big loss in this year's Q1 to pull the price back.Its a pity for #1.60

This takeover happened years back I use iei pensions and was sent a mail then that it's now norrenbeger pension that's the name we receive pensions now