₦airaland Forum

Omooloriredade:
Q3 is coming up. Hopefully we see the NAOC acquisition effect in full force. I believe this is the market expectation. Deal completed within the quarter, so it should be included.

I'm not sure why a lot here were waiting so eagerly for the audited 2023 results. Were they expecting a marked improvement from the unaudited one?

The good thing is that audited 2023, Q1 and Q2 have been released and they were .......erm! The market sent the price from N90 to N60.
N55 to N60 seems to be a floor until the next FA event (the release of Q3 result). IF the NAOC acquisition reflects positively, I am (as do many here) inclined to think the SP will go on a run. Ah! I don't know o.

mikeapollo:
I don't think the NAOC acquisition will play a huge role in Oando's results for Q3 2024. The deal was finalized towards the end of August, so September 2024 is the only full month that will reflect in Q3 2024.
Q4 2024 should provide a better view of the impact from NAOC acquisition.

mikeapollo:
I don't think the NAOC acquisition will play a huge role in Oando's results for Q3 2024. The deal was finalized towards the end of August, so September 2024 is the only full month that will reflect in Q3 2024.
Q4 2024 should provide a better view of the impact from NAOC acquisition.

yMcy56:
OANDO
So, Annual General Meeting is coming up on the 17th of December, 2024

Wonder why nobody has mentioned the attached Resolution 3 under the SPECIAL BIZ.....
**Is OANDO planning bonus Issue?
OR, Debt to Equity conversion?

** Either way, it's looking more like positive action coming from the company.... Restructuring is coming!**

** Some receivables owed O&O to be converted to shares and then distribute to shareholders...... Something like Oando shareholders also becoming shareholders in those companies......some kind of additional shares to be distributed to O&O shareholders??
Accounting gurus, over to you o......and don't bother to comment if you're coming with your negative mindset. 😁

https://doclib.ngxgroup.com/Financial_NewsDocs/42646_OANDO_PLC-_NOTICES_OF_ANNUAL_GENERAL_MEETING_(AGM)_-__ANNUAL_GENERAL_MEETING_(AGM)_NOVEMBER_2024.pdf

BabsO2:
New AGM video is round the corner. Look forward to the questions and concerns from shareholders and Wale’s responses.

Omooloriredade:
The 27/11 to 29/11 closure does not affect the special resolution regarding the distribution of shares. Register will be reopened after 29/11. It may because the company needs to send out notices, proxy forms etc.

However, if you are interested in the share distribution, then you gotta be a shareholder on the day the resolution is passed which is the AGM day (assuming shareholders vote in favour of the deal). Also note that shareholders will not be alloted the shares on this date. It may well be months after so it won't matter if you sold after this date (same way dividends are administered).

chimex38:
Pro-rata sounds more like a bonus issue thing.

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.

megawealth01:
So the goal post has been shifted to Q4

megawealth01:
I like Wale's smoothness in speech during AGM. I look forward to it

megawealth01:
I like Wale's smoothness in speech during AGM. I look forward to it

Raider76:
I am not an account, and I appreciate the light you threw from your professional view point. Just want to ask a question. Someone here mentioned that the ARs could come as a result of the acquisitions that Oando made, and not from sales. Is that possible from accounting principles?

Agbalowomeri:
With the wealth of experience on this thread, nobody still sabi wetin Wale dey up to Lol

I no even get energy to read am

Agbalowomeri:
A book should be written on Wale the maradona

mikeapollo:
Realistically, one has to take into consideration the effective date of the deal.
I don't think a deal that was signed in the 3rd/4th week of August would take effect from July 1st.

Kindly correct me if I am wrong oooo!

pluto09:
I just remember the oando reverse takeover of one exile company around 2011 during the good day of SMN.
Na so we almost scattered our brain trying to understand those cowboys then.
This was one of the issues that made me respect sir wanajo so much.
Those who are interested in the story might check this link.
https://www.oandoplc.com/press-release/frequently-asked-questions-on-oando-plc-and-exile-resources-inc

Agbalowomeri:
With the wealth of experience on this thread, nobody still sabi wetin Wale dey up to Lol

I no even get energy to read am

chimex38:
Pro-rata sounds more like a bonus issue thing.

mikeapollo:
I don't think the NAOC acquisition will play a huge role in Oando's results for Q3 2024. The deal was finalized towards the end of August, so September 2024 is the only full month that will reflect in Q3 2024.
Q4 2024 should provide a better view of the impact from NAOC acquisition.

pluto09:
I just remember the oando reverse takeover of one exile company around 2011 during the good day of SMN.
Na so we almost scattered our brain trying to understand those cowboys then.
This was one of the issues that made me respect sir wanajo so much.
Those who are interested in the story might check this link.
https://www.oandoplc.com/press-release/frequently-asked-questions-on-oando-plc-and-exile-resources-inc

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:
Na that one carry Wale go Canada stock exchange that time b4 he run away from dir head off to joburg

He don teyyyyy

Agbalowomeri:
Sir Wanaj0 was accumulating SEPLAT below N200, moved a good chunk of his portfolio from GTCo to UCAP at ca. N1. I am sure he is still holding both. Men dey!!!😂

Mpeace:
I just got message from someone that aradel also paid him today. Note that he just opened the account this year and had not filled any form for edividend mandate

GeeKudi:
Maybe it's time for the Prophet to come out to enlighten us prophetically .

So many suggestions of what those entities are already.

SAK:
Where is that prophet? Let him say something now ! Abi he doesn't see something again ?