₦airaland Forum

seems OANDO shares has been suspended from trading Today till they release 2023 Audited result...please verify ooo

Streetinvestor2:
Oand I knew you will default on 23 results but it should not exceed this October month

The three stages of death are DOUBT, PITY, and ACCEPTANCE. We are at the 3rd stage.

How do you know this, market markers view?

Princkez:
seems OANDO shares has been suspended from trading Today till they release 2023 Audited result...please verify ooo

Sec board is suspended...

TsarZed:
How do you know this, market markers view?

Redoil:
in the game of the jungle only the animal with big mouth eat first and throw crombs to the rest.

the bigger and biggest boys in the game where able to access and sell theirs first. Send a formal and stong complaint to SEC so as to avoid such in future

I support this. And, I can confirm that the guys at SEC can be very firm in handling issues like this. Get them involved.

Princkez:
seems OANDO shares has been suspended from trading Today till they release 2023 Audited result...please verify ooo

Our Nigerian market regulators are not that brave.

HOW TRUE IS THIS
OTIFICATION OF SUSPENSION OF TRADING IN THE SHARES OF OANDO PLC

Trading of Oando Plc. shares has today 24th October 2024 been suspended for not filing their Audited Financial Statements for the year ended 31st December 2023. In accordance with the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing.

Very true, my broker just sent to me also

Redoil:
HOW TRUE IS THIS
OTIFICATION OF SUSPENSION OF TRADING IN THE SHARES OF OANDO PLC

Trading of Oando Plc. shares has today 24th October 2024 been suspended for not filing their Audited Financial Statements for the year ended 31st December 2023. In accordance with the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing.

BabsO2:
On its way we pray

They will be suspended

Redoil:
HOW TRUE IS THIS
OTIFICATION OF SUSPENSION OF TRADING IN THE SHARES OF OANDO PLC

Trading of Oando Plc. shares has today 24th October 2024 been suspended for not filing their Audited Financial Statements for the year ended 31st December 2023. In accordance with the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing.

So fast. How many people are trapped now? The demigod will soon release his boys here but newbies will be alright

GeeKudi:
I support this. And, I can confirm that the guys at SEC can be very firm in handling issues like this. Get them involved.

They are the ones manipulating it they can turn 1 million to 20 million within 1 month and most people in this forum will never know just them.
e.g. whenever result is out they will see it first and make the first move get the first 10 - 20% and dump it later on the investing public

MARKET BULLETIN


24 October 2024 NGXREG/IRD/MB79/24/10/24


Notification of Suspension of Trading in the Shares of Oando Plc

Trading License Holders and the investing public are hereby notified that pursuant to the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which states that:

“If an Issuer fails to file the relevant accounts by the expiration of the Cure Period , The Exchange will:
a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period;
b) Suspend trading in the Issuer’s securities; and
c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension”,
trading in the shares of Oando Plc has been suspended from the facilities of Nigerian Exchange Limited (NGX or The Exchange) effective today, Thursday, 24 October 2024 for not filing their Audited Financial Statements for the year ended 31 December 2023.

In accordance with the Default Filing Rules set forth above, the suspension of trading in the shares of Oando Plc shall be lifted upon the submission of the relevant financial statements.

.


Godstime Iwenekhai
Head, Issuer Regulation Department

The losses are bad but foreign investors still seem to be buying

yMcy56:
Lol.
The irony of it is that lots of accumulation has been ongoing in NB for the past few days/weeks now.....
In yesterday's market alone, over 37M units were crossed/picked up @N28
The volume accumulations has been much recently, maybe it's the parent company mopping or a new investor, we don't know yet.

NB: Not any form of advice anyway, just observation.

Raider76:
Our Nigerian market regulators are not that brave.

I take it back. They are brave.

Check again

Raider76:
Our Nigerian market regulators are not that brave.

From Apel

Princkez:
seems OANDO shares has been suspended from trading Today till they release 2023 Audited result...please verify ooo

It is bad for Oando to delay or default in releasing its results, but that does not mean that its shares would be suspended from trading just immediately. Tedies.
The unaudited reports for FY2023 had already been published, so technically only HY2024 is outstanding.

I am not making excuses for Oando, they must be held responsible for these delays and investor uncertainty.
However, sometimes, an inefficient external audit firm can also cause delays in finalizing the audited accounts thereby creating problems for the company.
My own organization is a victim of such inefficient external auditors. We used to finalize our accounts within 1 month after our financial year. We have done this for more than 15 years. A new external auditor (one of the Big 4) took over, they offered and agreed to prepare the accounts, but it took them almost 3 years to finalize the accounts for FY2020, because they were experiencing a lot of staff turnover (Japa).
We are currently finalizing our accounts for FY2021 and in arrears for accounts for FY2022 and FY2023, something that was never heard of before the new auditors took over. The previous auditors ( a Big 4 too) were far more efficient than the new one.

But Oando needs to be more up and doing with their audited accounts. These delays have serious implications for many stakeholders, especially investors

Bagwa:
MARKET BULLETIN


24 October 2024 NGXREG/IRD/MB79/24/10/24


Notification of Suspension of Trading in the Shares of Oando Plc

Trading License Holders and the investing public are hereby notified that pursuant to the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which states that:

“If an Issuer fails to file the relevant accounts by the expiration of the Cure Period , The Exchange will:
a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period;
b) Suspend trading in the Issuer’s securities; and
c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension”,
trading in the shares of Oando Plc has been suspended from the facilities of Nigerian Exchange Limited (NGX or The Exchange) effective today, Thursday, 24 October 2024 for not filing their Audited Financial Statements for the year ended 31 December 2023.

In accordance with the Default Filing Rules set forth above, the suspension of trading in the shares of Oando Plc shall be lifted upon the submission of the relevant financial statements.

.


Godstime Iwenekhai
Head, Issuer Regulation Department

The fake prophet and his second M handle what say thou...lol.No wahala we bought at good margin of safety. I petty some traders way fit dey trapped till this year end for manipulation of results. They attack once you mention O like thr life is tired to it.

Abeg oga Emma I still they wait for answers or anyone that is true value investor here

Ding !!!

Redoil:
HOW TRUE IS THIS
OTIFICATION OF SUSPENSION OF TRADING IN THE SHARES OF OANDO PLC

Trading of Oando Plc. shares has today 24th October 2024 been suspended for not filing their Audited Financial Statements for the year ended 31st December 2023. In accordance with the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing.

Glad I sold majority of my shares yesterday. I knew something like this will happen

Be like say...
We go buy Aradel for
N300...

Mpeace:
Some pple don dey get BP as them dey wait for oando.
E no easy to hold that stock.
Thats why they say oando is not for everyone.
If you no get mind abeg buy amlodipine for ur BP.


May the result favour all of una wey dey inside.

The cost of Amlodipine is up by over 120%.

But we have made enough paper profit that we can continue to buy our High Blood Pressure drugs even if the cost price is more than 500% because we have made more than that from the stock

emmanuelewumi:
From Apel

If this is true, then Wale and Oando must be held accountable. This is totally unacceptable and bad.
If they made a loss, they should just report it. They are not the first to make a loss.
All this shenanigans must stop

Streetinvestor2:
@oga Emma. Pls what do you think should be the ideal cash flow from the total value of a portfolio at the beginning of the year in percentage .This is without any stock appreciation or depreciation that could happen within the same yr on the portfolio
Trying to use it to really gauge my portfolio balancing I have been doing

Pls I need inputs on this from value investors. This will hape me shape more of my decision on my portfolio balancing..thanks

You made a valid point.
However, we must not spare the rod else we spoil the child.
OandO is in the spotlight for many reasons and I fully support this action.

@Raider76 [like many] was already doubting. This gives a feeling of 'the untouchables'.

Let's support every action that will make the field a level playing ground...

mikeapollo:
It is bad for Oando to delay or default in releasing its results, but that does not mean that its shares would be suspended from trading just immediately. The NGX does not necessarily operate this way.
There are other administrative penalties and remedies.
The unaudited reports for FY2023 had already been published, so technically only HY2024 is outstanding.

I am not making excuses for Oando, they must be held responsible for these delays and investor uncertainty.
However, sometimes, an inefficient external audit firm can also cause delays in finalizing the audited accounts thereby creating problems for the company.
My own organization is a victim of such inefficient external auditors. We used to finalize our accounts within 1 month after our financial year. We have done this for more than 15 years. A new external auditor (one of the Big 4) took over, they offered and agreed to prepare the accounts, but it took them almost 3 years to finalize the accounts for FY2020, because they were experiencing a lot of staff turnover (Japa).
We are currently finalizing our accounts for FY2021 and in arrears for accounts for FY2022 and FY2023, something that was never heard of before the new auditors took over. The previous auditors ( a Big 4 too) were far more efficient than the new one.

But Oando needs to be more up and doing with their audited accounts. These delays have serious implications for many stakeholders, especially investors

Streetinvestor2:
@oga Emma. Pls what do you think should be the ideal cash flow from the total value of a portfolio at the beginning of the year in percentage .This is without any stock appreciation or depreciation that could happen within the same yr on the portfolio
Trying to use it to really gauge my portfolio balancing I have been doing

7% to 10% if you have strictly stocks in your portfolio, if you have mixture of stocks and fixed income in the portfolio, you can get 12% and above

mikeapollo:
If this is true, then Wale and Oando must be held accountable. This is totally unacceptable and bad.
If they made a loss, they should just report it. They are not the first to make a loss.
All this shenanigans must stop

How long have you been in this market?


Have you been investing for 15 years and above?


Na today

Bagwa:
MARKET BULLETIN


24 October 2024 NGXREG/IRD/MB79/24/10/24


Notification of Suspension of Trading in the Shares of Oando Plc

Trading License Holders and the investing public are hereby notified that pursuant to the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which states that:

“If an Issuer fails to file the relevant accounts by the expiration of the Cure Period , The Exchange will:
a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period;
b) Suspend trading in the Issuer’s securities; and
c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension”,
trading in the shares of Oando Plc has been suspended from the facilities of Nigerian Exchange Limited (NGX or The Exchange) effective today, Thursday, 24 October 2024 for not filing their Audited Financial Statements for the year ended 31 December 2023.

In accordance with the Default Filing Rules set forth above, the suspension of trading in the shares of Oando Plc shall be lifted upon the submission of the relevant financial statements.


Godstime Iwenekhai
Head, Issuer Regulation Department

Wale and Oando must be held accountable for this! It is unacceptable and bad.
If the delay is caused by the auditors, then they must fire the auditors immediately . If they made a loss, they should just publish the loss. They are not the first company to make a loss!

mikeapollo:
If this is true, then Wale and Oando must be held accountable. This is totally unacceptable and bad.
If they made a loss, they should just report it. They are not the first to make a loss.
All this shenanigans must stop

Oga. Those people don't believe they are accountable to anyone. Will not be surprised if this starts another round of delisting fears.

emmanuelewumi:
7% to 10% if you have strictly stocks in your portfolio, if you have mixture of stocks and fixed income in the portfolio, you can get 12% and above

OK thanks. I have been using 20% to do the maths and it has not been looking feasible for only stock portfolio

Una no dey give recommendations for this forum oo
Naso so oando everywhere

Newbies fit lost
Con lost again

Undead, where are you?

You need to change your name to Lazarus o!