Abeg who get details of the fact behind the figures presentation by Oando yesterday. I been think say NSE go publish am.

“It is important to reiterate the fact that Skye Bank is not in distress and remains a healthy bank in the system. The CBN hereby assures depositors, shareholders and all relevant stakeholders that there is no reason for concern or panic as we seek their continued cooperation at this time.” ----CBN

Above quote was an extract from CBN as regards their position on Skye Bank organizational and financial quagmire. While I don't want to join issues with CBN but I want to reject in entirety their assertion that shareholders of Skye bank need not to panic as their investment is safe. What will happen to skye bank will be akin to what happened to afribank and resultant manifestation was now moribund Enterprise bank. The depositors need not to panic because their money is protected but if you are an investor, Pls you still have narrow window for a cosmetic escape. CBN position is just damage and panic control. Massive Harm has been done to this bank . My stake in nse at the moment is little above 600 thousand. I escape in time and I warn you but many refused to heed to that advice. Few companies will have problem, it is not yet uhuru. Peterichy and few others I salute you for refusing to be silenced. For me I refused to join we must make money this year singers, I remained in the sideline.

kentoto:
Morning people,

Initially I didn't want contribute on, before I observed that we have different types of trader/investors in the forum.
Traders: trade of technicals of a company regardless if the company is dead. JIJo group.

Investors: trade off the fundamentals of a company.

The members give advice to the house. So if a trader say Skye , it's because his a trader off technicals . And investor will read it and be more confused or buys the cos the guru said it.

On the other side an investor drips his stock picks and traders would be like: are you high

And too bad a lot of newbies dey the house.

I trade Both a trader and an investor. But a leaner trader.(technically)

For Skye I have and will continue to whatch it as trader. But as an investor, don't go near it.

K

You just hit the nail on the head with the bold.

Amongst all the banks only GTB can boost of sound fundamentals not even Zenith.

But some of us will still do buying and selling on these others banks if there is a sign on making profit.

For example, I won't look away from Skye Bank if it IS selling at 0.10k on full bid.

As at today, fundamentally sound stocks are scarce on the floor of our NSE.

The only fundamentals for me is cashing out my little profits.

i canT view the market what is going on! morgan capitAL

PETERiCHY:


We warned them. they tagged us pessimists and start to delete our posts so they can trap more gullible victims .

Now NSE has deleted their money. I only the pity newbies who doesnt the intricacy of the Stock market but are carried away by the we are making money chanters.

ADIEU SKYEBANK my condolence goes to Pa Emma & Agba.

*ThE OcToPuS*

Your wish!!! You refused to accept that I'm smarter than u
No time for useless talk jare

ufotty2001:
i canT view the market what is going on! morgan capitAL

Oga are u viewing from Ouagadougou?

Today no be holiday for where you dey?

ufotty2001:
i canT view the market what is going on! morgan capitAL

THE STOCK MARKET is simply a place for the LARGE HEARTED... STAY OFF if you are EMOTIONAL... Don't buy or sell because you were told to by anyone as you are solely responsible for the consequences of your ACTIONS. Always do your DD before Jumping In/Jumping Out on A STOCK!

THE BIG SMART GUY

Agbalowomeri:


Oga are u viewing from Ouagadougou?

viewing from ndibuhari market... have forgetten that today is public holiday...

Should I buy ucap

uzoboy86yahoo:
Should I buy ucap

ucap buy i should?

Market won't open until Friday as FG has extended the public holiday to Thursday....I am tired of this our penchant for holidays...

Intendy:


http://www.dailytrust.com.ng/news/general/fg-extends-public-holidays-for-eid-el-fitr-celebration-till-thursday/153964.html

wat n*nsense is this!!

oghenebiko:
Abeg who get details of the fact behind the figures presentation by Oando yesterday. I been think say NSE go publish am.

till Friday. but WT bleeped up.
A question was raised that why should a deferred tax be reported as a PAT for unaudited quarterly result.

was it to deceive investors? he dodged it.

2)a question was also raised about the auditors comment (Ernest and young) of oando being a going concern and he tactical dodge as well not providing any answer

3)on the fund raised 'via our banks' with 3 year 'grace' how does he intend to repay if oil remain below 60$ pb,those he continue asset stripping.like the wale I know he kept on blabing.

so traders enjoy,investors better loosen your seat belt and look for the nearest exit.

OBAGADAFFI:


My Brother, Transcorp opened my eyes, to deeper secret of the stock market.

Intelligent guys were making millions on a dying TRANSCORP, with no serious fundamentals as at that time .HABA!

Some people are just experts in making profit from dying companies.

Transcorp is still a good performing business.

OBAGADAFFI:


You just hit the nail on the head with the bold.

Amongst all the banks only GTB can boost of sound fundamentals not even Zenith.

But some of us will still do buying and selling on these others banks if there is a sign on making profit.

For example, I won't look away from Skye Bank if it IS selling at 0.10k on full bid.

As at today, fundamentally sound stocks are scarce on the floor of our NSE.

The only fundamentals for me is cashing out my little profits.

bro I believe u meant there are still many fundamentally sound stocks BUT overpriced from your perspective.

we have over 250 stocks listed on the exchange and around 50 with good fundamentals and 30 of the 50 with also good cooperate governance.
though numbers change from time to time.

Intendy:


bro I believe u meant there are still many fundamentally sound stocks BUT overpriced from your perspective.

we have over 250 stocks listed on the exchange and around 50 with good fundamentals and 30 of the 50 with also good cooperate governance.
though numbers change from time to time.

My oga intendy...

Please name 20 of those good companies so that newbies like us will know them...

Thanks

Intendy:


bro I believe u meant there are still many fundamentally sound stocks BUT overpriced from your perspective.

we have over 250 stocks listed on the exchange and around 50 with good fundamentals and 30 of the 50 with also good cooperate governance.
though numbers change from time to time.

Yea there are fundamentally sound stocks on the floor, but they're scarce/overpriced. And at times thier figures can be inconsistent.

Most of these stocks are in the FMCG, Building, conglomerates and Energy sectors.

But in the :-
Insurance - 0
Banking-1
Investment - 2

locodemy:

i dont think anyone among us is caught.......if there is,may the persons soul be console with ogogoro,origin and alabukun

Where is that Big Smart Guy

Wapco or Floormill ? should i go for wapco?

Tritri:
Wapco or Floormill ? should i go for wapco?

you don't have to use that approach.if you can study and understand your market behaviour.

I have but left with both choice ..for long term that why am looking at wapco

leo1234:

Where is that Big Smart Guy

you get some ogogoro, orijin and alabukun for him?
locodemy harsh no be small.
make big smart guy no vanish like evansmed guy.

leo1234:


Where is that Big Smart Guy

zendi:

make big smart guy no vanish like evansmed guy.

He will resume his monkey hunting as soon as skybank starts to rise again.

zendi:

you get some ogogoro, orijin and alabukun for him?
locodemy harsh no be small.
make big smart guy no vanish like evansmed guy.

The big smart guy is now advising people to avoid Skye bank

kentoto:
Morning people,

Initially I didn't want contribute on, before I observed that we have different types of trader/investors in the forum.
Traders: trade of technicals of a company regardless if the company is dead. JIJo group.

Investors: trade off the fundamentals of a company.

The members give advice to the house. So if a trader say Skye , it's because his a trader off technicals . And investor will read it and be more confused or buys the cos the guru said it.

On the other side an investor drips his stock picks and traders would be like: are you high

And too bad a lot of newbies dey the house.

I trade Both a trader and an investor. But a leaner trader.(technically)

For Skye I have and will continue to whatch it as trader. But as an investor, don't go near it.

K

That's it! I don't understand fundamentals as well as I understand technicals so, most of my trades are off technicals. When fellas quote PEs etc, I only look. I have some shares in Skye which I bought on technicals. Will feel bad if it goes under, but won't lose a minute's sleep over it.

Here, I see everybody is singing Skye as if somebody died. It may or may not be the beginning of the end. Ka Chinese mezie okwu

Fingers crossed.


http://stocksng.com/skye-bank-plc-technical-interpretation-cbns-action-every-stock-investors-know/


SKYE BANK PLC:
Technical Interpretation of CBN’s Action And What Every Stock Investors Should Know.


The Godwin Emefiele led Central
Bank of Nigeria might not have
acted like a ‘commando’ in the
case of Skye Bank Plc. Many for
sure would term the removal of the
bank’s entire board of directors
and the highest ranks of the
management as nipping the evil in
the bud but truth is that the
ultimate impact on the Nigerian
investor is more than grievous.

Let’s learn to call a spade, spade.
What’s the technical interpretation
of CBN’s move?
When a regulator takes charge:

1. When a regulator moves to
effect a change in the board of
directors and the management
of any institution, it is like a
military takeover of a
democratically elected
government.

In other words, in
Skye Bank Plc as I write this,
the board of directors and
management that were duly
elected and ‘sworn in’ by the
bank’s shareholders are gone
and since he that pays, in this
case appoints, the pipers-
board and management,
dictates the tune; in the real
sense of it, the new board of
directors and management of
Skye bank Plc are not
responsible to the bank’s
shareholders but the Central
Bank of Nigeria.

Simply stated,
responsibilities, loyalty, focus,
purpose, strategy, aspirations
and targets of the new board
and management are bound to
be totally different from the
previous hence, the Skye Bank
Plc as you read this, is
different from the Skye bank
Plc that lived until 9a.m of
Monday July 04, 2016.

Of course, the new board and
management of Skye bank Plc
could and will definitely hold
meetings with existing
shareholders but under the
supervision of the CBN. Such
meetings would not also be to
discourse investors’ benefits
but how more funds could be
injected to safe the institution
from total collapse.

Now, how
much funds are we looking at
here? Do the investors really
have that kind of funds? In the
Buhari’s Nigeria of 2016? Even
if the investors do, will they be
willing? If it is so easy to raise
funds, why didn’t the Tunde
Ayeni led board do so?
Hmmmmn!

2. When a regulator, like the CBN
changes the board of directors
of an institution, it is not
always primarily with the
interest of the shareholders at
heart but the depositors. The
CBN wasn’t established to
protect investors’ interest but
depositors’ funds in banks.


Please note that investment in
a company- bank or otherwise
is a risk. It is a pity but it is
the truth that at a time, such
as this, shareholders are simply
‘on their own’. Perhaps, if the
Securities and Exchange
Commission had moved in first,
shareholders’ protection and
interest would have been the
top priority but not so with the
CBN whose primary objective is
to ensure the safety of deposits
no matter how little.

Technically, as at today, every
investor in Skye Bank Plc
stands to lose except for
strokes of luck. Alas, it saddens
but the reality is that these
new men at the helms of affairs
in Skye bank Plc aren’t
appointed to ensure that
dividends are paid but to
ensure that depositors’ funds
are protected.

Thanks to the
CBN for the maturity displayed.
We know that the entire board
of directors and top
management of the bank
weren’t sacked but they all
magnanimously resigned.
Hmmmn. We know but then,
we also know that Skye Bank
Plc is simply taken over.

It is true that Skye Bank Plc wasn’t
nationalized. The CBN hasn’t said
that the bank’s shareholders’ fund
is at a zero level. That would have
been an auto piloted end to
shareholders possibilities in the
bank but if care isn’t taken, at this
juncture, the distance to a total
loss of investment in Skye Bank Plc
is nearer than realized.

What are
the tasks before the new men at
the helms of affairs in Skye Bank
Plc?
CBN’s pronouncement could be
coined in whatever tongue, dialect
and language but the major task
before the new men in Skye Bank
Plc is to protect depositors’ funds
in the bank by recapitalization and
really, that’s where the major issue
is- what manner of
recapitalization?

Let me show you
the available options. Please note
that the very first step is to
subsequently make open the real
state of affairs in Skye Bank Plc.
Now we shall know all the hidden
figures and the facts behind them.
That, which has been kept secret
from public glare will sure come
into the open.

Can of worms is
about to be released. We will now
know how well the shareholders’
funds had been eroded relative to
what we’ve been made to believe
in the books of accounts over the
years. Assets valuation and
revaluation will now be carried out
to see the exact position.

Thereafter, the amount required to
resuscitate the institution will be
stated. From that point, every
investor should know what he or
she stands.

1. Existing shareholders will be
approached to increase the
bank’s share capital by the
injection of fresh funds. Public
offering, rights issue and other
forms of instruments might be
suggested. If this is successful,
the bank sure gets back into
the hands of the shareholders.
What if not?

2. If there is much delay in
raising funds from the existing
shareholders, the CBN might
inject own funds to bail out the
bank. At that, it is bye-bye to
shareholders as the CBN
thereafter reserves the rights to
transfer ownership to desired
buyer.

3. The CBN might also through
the newly constituted board, as
the last available option,
search for a core investor.
Expectedly, due diligence will
be conducted by the core
investor and offers made.

Please note that at that level,
existing shareholders’ don’t
have any say. It is also
pertinent to state that such
funds as will be generated from
the core investor are primarily
meant for the recapitalization
of the bank.

A new name might
emerge, the existing name
might also be retained but
direct financial benefits can
only accrue to existing
investors if the core investor is
interested in buying existing
shareholders out. Going by
precedence in our market, the
core investor, on the strength
of the funds injected will come
out with a ridiculously low
valuation in favour of existing
shareholders in the new and
now recapitalized institution.

Lest we all forget, what such
arrangements had always
brought the Nigerian investors
had been frustration. So, the
next time you check your post
office box, don’t be surprised
to see a certificate bearing your
name with say like 10 units
from your previous holdings of
2,500 units of Skye Bank Plc
shares. Hmmmn, such is life.
Skye Bank Plc…..

Still Hacuna
matata? How I wish but I don’t
think so because I’m now very
worried. Life is really transient.
Investment in the stock market is
such a lesson in life. Let’s hope for
the best. Long live the Nigerian
stock market!