₦airaland Forum

MadmaxX489:
The receivable is the power plant which Oando share of ownership has a carrying value of 193billion and they are due to receive a buyout in 2025, hence the timing for this resolution. It has nothing to do with NNPC.

BabsO2:
Maybe not mago mago but giving something back to long suffering shareholders. As he cannot deliver dividends right now he wants to share some other goodies perhaps

mikeapollo:
Okay, thanks.
So what is the effect of the closure of register of members from Nov 27 to Nov 29?

MadmaxX489:
The receivable is the power plant which Oando share of ownership has a carrying value of 193billion and they are due to receive a buyout in 2025, hence the timing for this resolution. It has nothing to do with NNPC.

MadmaxX489:
The receivable is the power plant which Oando share of ownership has a carrying value of 193billion and they are due to receive a buyout in 2025, hence the timing for this resolution. It has nothing to do with NNPC.

yMcy56:
On this OANDO matter,
I hope we can all read what the AGM agenda says?? because all these Nsempa twists, I'm not understanding......
**Says those who owe the subsidiaries and would be resolved to pay back with share allotment.....
**Then this will be distributed to shareholders..... minority shareholders probably.

So, what's all these over analysis and big grammar twists all about?
Una don start again o.
If you don't understand, wait till AGM date for clarification, make una no come confuse person with paralysis here. 😁

yMcy56:
On this OANDO matter,
I hope we can all read what the AGM agenda says?? because all these Nsempa twists, I'm not understanding......
**Says those who owe the subsidiaries and would be resolved to pay back with share allotment.....
**Then this will be distributed to shareholders..... minority shareholders probably.

So, what's all these over analysis and big grammar twists all about?
Una don start again o.
If you don't understand, wait till AGM date for clarification, make una no come confuse person with paralysis here. 😁

mikeapollo:
Even, you too, you are not very sure of what it is exactly. Hence, it is good we keep an open mind and listen to as many plausible explanations or possibilities as possible. It will help all of us at the end of the day.
We cannot just close the topic when we do not know what it is exactly.
Oando seems to taking some far reaching actions to turn a new leaf; those actions will be subjected to analysis, whether we like it or not.
We all go survive the paralysis like we did when Oando was selling at N5

yMcy56:
On this OANDO matter,
I hope we can all read what the AGM agenda says?? because all these Nsempa twists, I'm not understanding......
**Says those who owe the subsidiaries and would be resolved to pay back with share allotment.....
**Then this will be distributed to shareholders..... minority shareholders probably, as form of some bonus shares possibly.

So, what's all these over analysis and big grammar twists all about?
Una don start again o.
If you don't understand, wait till AGM date for clarification, make una no come confuse person with paralysis here. 😁

MadmaxX489:
The receivable is the power plant which Oando share of ownership has a carrying value of 193billion and they are due to receive a buyout in 2025, hence the timing for this resolution. It has nothing to do with NNPC.

robobo:
Mcy let call a spade a spade. There is no paralysis. it is Oando in its usual characteristics and antecedent that is muddling up the water.
........ if Oando really want its shareholders to make informed decision then ALL NECESSARY information should be made known on the same date that the AGM meeting is being called (i.e. at least 2 weeks prior to the meeting)

robobo:
Mcy let call a spade a spade. There is no paralysis. it is Oando in its usual characteristics and antecedent that is muddling up the water. Good Corporate Governance dictate that more information (than this) should be made available for a key decision that require voting. its like blindfolding person to a voting center meanwhile the ballot paper had been designed such that the choice the organiser want is covering 99% of the ballot paper, what is the probability that the blind folded person would thumb print the remaining 1% space. In addition making any further information available on the AGM date is like putting a gun on the head of the voters. if Oando really want its shareholders to make informed decision then ALL NECESSARY information should be made known on the same date that the AGM meeting is being called (i.e. at least 2 weeks prior to the meeting).

The Management/Board of Oando know this, they are just not doing the right thing, which points to the fact that nothing much has changed.

Selah

yMcy56:
... insiders explanations may also come up.

Princkez:
meanwhile all offers @#62 was cleared at 2.30pm...we move

yMcy56:
Alright sir.
I believed the shareholders to attend the meeting aren't dumb anyway.
They'll seek for clarification as well.

yMcy56:
You know the issue with you sometimes is that, you tends to be seeking for convictions often, while you still behave as if you know much about this stock.

Not against keeping open minds, but some of the questions you're raising, you can't get answers here immediately like that.
If you have some info for us, pass it along, we all are seeking more clarifications on the new development but not more complications.

Even those that still come up with their views/info, you continue to ask unending questions.
We can't get all the clarity just in one day.
As more experts are digesting the info, we'll get much better explanations....insiders explanations may also come up.

robobo:
They are not dumb but a gun is being put to their head how much of intellect can be use in such a case

I opened my statement with lets call a spade a spade for a reason


n.b no matter how it goes i stand to make substantial gain by virtue of positioning but that doesnt mean we should not speak the truth. This is not a good corporate governance practice

megawealth01:
Wale sabi corporate governance practice?

robobo:
we dey think say hin don repent. But a leopard ...............................

lolllllllllllllllllllllllllllllll

Omooloriredade:
Positive:

1. If the related entities are Asset rich but just suffering a temporary cash crunch.
2. Deal is done at favourable valuation for Oando shareholders i.e entity shares are not overpriced at conversion.
3. OODP (Wale and Boyo) will not be voting. Outcome lies solely in the hands of minority holders (same as the delisting in case anyone didn't know that).
4. Huge positive - converting trade receivables to shares in an asset rich company and transferring same to existing shareholders could be the company rewarding existing shareholders. Basically, the company is proposing to pay out a portion of its income to shareholders. A dividend of some sort. In a way, Question #4 could be a blessing even though Oando still needs to address its huge debt too.
5. Qualification date for this distribution is the date the resolution is passed. Note this one. 17/12.
6. The directors might be seeing light at the end of the tunnel, hence their decision to go this route. Otherwise, it shouldn't be the near-term course of action. Settle your own gbese first before thinking of rewarding shareholders (that is if it's a reward o. It might well be a curse especially if it could have been better spent for the overall good of the company and to reap the reward latter).

Disclaimer - My 2 kobo. My post could be grossly misleading so please DYOR. Not a recommendation to buy or sell Oando.

robobo:
There is nothing being gave back. The companies are already owned by Oando Plc, so which debt is supposedly being settled (with shares) between two companies owned by same shareholders??

Except he is unbundling (like Afriprud and UCAP a la UBA) which is a business that goes beyond AGM

Abeggiiiiiiiiii nextttttttttttttttttttttttt

HesInMe:
Oando shareholder here. There is nothing positive about this.

Unless accounting has changed under Professor Wale, accounts receivables (AR) are sales that Oando made to customers and booked as revenue but hasn't collected cash. And there's a (bad) reason why not. It is not good when your customers have problems raising cash to pay you, "asset-rich" or not. And if you want to liquidate those ARs, which fool will stand ready to pay you face value for the privilege of being owed by those "asset-rich" debtors?

And please stop the special-dividend delusion. First, that AR has already been booked as revenue; it is not some new income. Second, a company as indebted as Oando is cannot be paying dividends. At minimum, that would probably violate their debt covenants. Creditors want their money first before you pay shareholders.

So why this weird proposal? I suspect, but do not know for sure, that it's got to do with concerns about recovery of the AR and the arcane, I-am-too-sharp-for-myself deals that Wale & Co have been doing behind the scenes. Instead of writing down the AR, which would negatively hit revenues, they're trying to shuffle the deck. Unless I'm missing something, that can't be good for minority shareholders. Perhaps I should've sold at N90.

robobo:
They are not dumb but a gun is being put to their head how much of intellect can be use in such a case

I opened my statement with lets call a spade a spade for a reason


n.b no matter how it goes i stand to make substantial gain by virtue of positioning but that doesnt mean we should not speak the truth. This is not a good corporate governance practice

HesInMe:
Oando shareholder here. There is nothing positive about this.

Unless accounting has changed under Professor Wale, accounts receivables (AR) are sales that Oando made to customers and booked as revenue but hasn't collected cash. And there's a (bad) reason why not. It is not good when your customers have problems raising cash to pay you, "asset-rich" or not. And if you want to liquidate those ARs, which fool will stand ready to pay you face value for the privilege of being owed by those "asset-rich" debtors?

And please stop the special-dividend delusion. First, that AR has already been booked as revenue; it is not some new income. Second, a company as indebted as Oando is cannot be paying dividends. At minimum, that would probably violate their debt covenants. Creditors want their money first before you pay shareholders.

So why this weird proposal? I suspect, but do not know for sure, that it's got to do with concerns about recovery of the AR and the arcane, I-am-too-sharp-for-myself deals that Wale & Co have been doing behind the scenes. Instead of writing down the AR, which would negatively hit revenues, they're trying to shuffle the deck. Unless I'm missing something, that can't be good for minority shareholders. Perhaps I should've sold at N90.

HesInMe:
Oando shareholder here. There is nothing positive about this.

Unless accounting has changed under Professor Wale, accounts receivables (AR) are sales that Oando made to customers and booked as revenue but hasn't collected cash. And there's a (bad) reason why not. It is not good when your customers have problems raising cash to pay you, "asset-rich" or not. And if you want to liquidate those ARs, which fool will stand ready to pay you face value for the privilege of being owed by those "asset-rich" debtors?

And please stop the special-dividend delusion. First, that AR has already been booked as revenue; it is not some new income. Second, a company as indebted as Oando is cannot be paying dividends. At minimum, that would probably violate their debt covenants. Creditors want their money first before you pay shareholders.

So why this weird proposal? I suspect, but do not know for sure, that it's got to do with concerns about recovery of the AR and the arcane, I-am-too-sharp-for-myself deals that Wale & Co have been doing behind the scenes. Instead of writing down the AR, which would negatively hit revenues, they're trying to shuffle the deck. Unless I'm missing something, that can't be good for minority shareholders. Perhaps I should've sold at N90.

HesInMe:
Oando shareholder here. There is nothing positive about this.

Unless accounting has changed under Professor Wale, accounts receivables (AR) are sales that Oando made to customers and booked as revenue but hasn't collected cash. And there's a (bad) reason why not. It is not good when your customers have problems raising cash to pay you, "asset-rich" or not. And if you want to liquidate those ARs, which fool will stand ready to pay you face value for the privilege of being owed by those "asset-rich" debtors?

And please stop the special-dividend delusion. First, that AR has already been booked as revenue; it is not some new income. Second, a company as indebted as Oando is cannot be paying dividends. At minimum, that would probably violate their debt covenants. Creditors want their money first before you pay shareholders.

So why this weird proposal? I suspect, but do not know for sure, that it's got to do with concerns about recovery of the AR and the arcane, I-am-too-sharp-for-myself deals that Wale & Co have been doing behind the scenes. Instead of writing down the AR, which would negatively hit revenues, they're trying to shuffle the deck. Unless I'm missing something, that can't be good for minority shareholders. Perhaps I should've sold at N90.

BabsO2:
Please share the grievance at the AGM politely. All for the better.

Princkez:
but why didn't you sell then sir

robobo:
Which grievance am i sharing at the AGM. A management/board full of ivy league trained lawyers/accountants/ management experts does not know basic/rudimentary corporate governance practice. That would be an insult on their education.


Abeggiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii. Nextttttttttttttttttttttttttttttttttttttttttttt