Coolcash1:


Concerning the bolded, here was my advice then;

quote author=Coolcash1 post=52620579]

Are you sure your broker is not trying to use your funds to bail out a trapped client.... ..Coz I discount whatever advice they give me.

For me, I now have two brokers. I give mandate to one while I used the trading platform of the other to trade myself.

megainvest:
Is there a new NSE guideline on latest date for submission of FY results?

angelo82:


Yes.30 days after end of the quarter .

locodemy:


I 've been informed to open a special account that has nothing to do with a broker except you instruct any broker of your choice to trade on the account.it is what i am planning to do now.After that,i will open an account with a reliable platform to trade and i will raise a fresh fund for that.

Are you sure someone's fund will not be traped @ morgan one day following the odds happening to them or have they completely resolved their problems?

ihedioramma:
@Sir locodemy my brother am sorry about that, thats what am going true with my old broker . do you know as of last year 16 DEC, i told this man to sell some of my stock he said i need to see him befor he will sell the stock and i have try to see him so that he can sell it but no way . If i have 40% of your capital i must have four stockbrokers .Any way open with new broker but dont take all your money from old to new broker for now because you never can tell of the new one .

currentprice:


never hear about special account with NSE before. what that all about?

Manonamission:




Actually, it is 30 days after end of quarter for quarterly results i.e Q1, Q2 and Q3. March ended Q1 results are due latest April 30, June ended Q2 results are due July 31 etc.

Audited Quarterly results are due latest 60 days after relevant quarter. Applicable to the likes of Access, GTB and Zenith that regularly audit H1 results.

FY results or audited annual results are due 90 days after end of year. So companies with final year end Dec 31 have until March 31 of the following year to file results.

zendi:



Brother 'kenneth, please tell those 'manipulators' that Oga Zendi appreciates their efforts,
and that I equally need their services on stdinsure, evansmed and intennegins, places where I'm currently trapped.

Translation: nobody can manipulate a stock that is not hot and attractive in the first place.

angelo82:


We are talking about new rules here and not the old one.Please check very well.

Manonamission:


Which new rules? When were they made? Do you have a reference?

http://www.nse.com.ng/regulation-site/IssuersRules/Rules%20on%20Filing%20of%20Accounts%20and%20Treatment%20of%20Default%20Filings.pdf

Manonamission:


Which new rules? When were they made? Do you have a reference?

http://www.nse.com.ng/regulation-site/IssuersRules/Rules%20on%20Filing%20of%20Accounts%20and%20Treatment%20of%20Default%20Filings.pdf

angelo82:


https://www.businessdayonline.com/nse-notifies-public-of-effective-date-of-new-rules/

Manonamission:


Apparently, you didn't read the "new" rules. Open the link nah and acquaint yourself with the rules nah. The information I shared earlier is the rules for filing of results.
Other info such as application for extension, penalties are contained in the doc for those that might be interested.

OakPearl:


Both are very illiquid especially Presco.
Average daily volume between 300,000 - 500,000 shares.

angelo82:


Correct me if am wrong,60days means End of feb. because December is the end of Q4.

angelo82:


We are talking about new rules here and not the old one.Please check very well.

OakPearl:

HOLD. Q3 good enough to expect a good FY result. Good FY result= price appreciation up to N6 btwn now & March 2017.

Tritri:
@ locodemy Just be careful.so you dont jump from fry-pan to fire.sign up on cscs yourself and view ur statement. this is nigeria .if u like open special or spiritual account.nothing is 100% secure in nigeria.just monitor and be careful.

Manonamission:


Q4 is considered the FYE where audited results for the whole year is declared with or without corporate action (for companies with December year end). The rule permits listed companies 90 days to file AUDITED ANNUAL REPORTS which is what the investing community is expecting now.

The 60 days filing requirement is for companies that chose to audit quarterly results that are otherwise expected in 30 days from end of respective quarter.

The implication of these rules is that a company is not penalized for releasing the result earlier than required or within the stipulated number days. Therefore, March 31 remains the deadline. In fact, the rule permits additional 30 days (i.e till April 30) if a company requests additional time for result filing before the initial due date.

Manonamission:
In case you missed this:

http://www.dailytrust.com.ng/news/business/fg-may--baker-sign-mou-on-n50bn-food-supplements/180067.html

This link might provide answers to some 'what is brewing?' questions in the future.

Disclaimer: I do not have any plans to acquire shares in M&B.

locodemy:


Observed but the special account will be good to keep my stocks as to monitor myself.

locodemy:
My brothers/sisters,i want to share this info so everyone will learn.......At the end you will learn:

1.To buy stock when it is still available at the offer price
2.To trade on your own as to control your entry and exit price.

Sometime in october last year,i was moved to start buying fcmb when it was trading at #1.00,1.03 and #1.05.i bought up to 8 million units after selling all the shares in my portfolio and with the help of my junior ones who also invested with me.i also contacted my junior one in malaysia and convinced him to also buy.we got 15m units in all on my personal account.

Few days ago,i told my broker to sell 5m units of fcmb at 1.28 and use the proceeds to buy Eterna oil.They told me to leave eterna oil and buy sterling bank and after i can go for eterna.I never knew they 've already bought sterling bank at 0.67 kobo.An insider among them revealed it to me today and asked me not to expose him.I relied on them and took sterling bank as one of the stocks i now have.

I hadly go to their office due to no time as i am fully engaged in selling computers/accessories but i always connect to NSEMPA and other stock sites for daily update.Today i was in their office only to discover that they bought 1m units of sterling bank at 0.77kobo and tomorrow,they will bid the stock up as to dump it on me.

I remembered last week someone here said that my broker recommended the stock to dump it on me but i disagreed.Now i have told them not to buy the remainning units above 0.75 kobo,else they should pay me the balance in my account.
I am now plannning to open a special account with NSE and move all my stocks to the account so i can choose any broker to trade for me.

I always like to seek opinion of members here before taking a decision........i just feel to share what i discovered today so that everyone should be careful with brokers.

Mpeace:
Hope they are not the ones tha recommended FCMB to you.

angelo82:


Ok I got it but then why are the banks in a hurry because it seems nothing changed as regards timing of release of results.

locodemy:


Cscs has a special account for clients who has large portfolio.i will find out all about it and update everyone about it.i think the subscription is for one year and renewable after expiration or anyone who knows about it should update us pls.

mercylicious234:
https://www.businessdayonline.com/nse-working-mtn-list-shares-2017/

Someone asked a related question to this few moons ago.

Godisfaithful:
Our Foreign Exchange Different Rates...

CBN: N305 to $1

BDCs: N399/N400 to $1 (Impossible to buy without biometric card...and bank never issue such card e.g Travelex, etc.)

Paralle Market: N495 to $1 (Sometimes it is impossible to buy the maximum needed due to shortage)

Western Union: N375 to $1

MoneyGram: N373 to $1

Bank to 'Oga at the top': N355/368

Bank ATM Card Abroad: N320 to $1 (GTB, $100/Monthly), N330 to $1 (Access, $200/Monthly)...

And who says something is right with this government?

And this is what the dullard is saying again through our emperor CBN governor...

CBN to BDCs: We Won’t Devalue Naira...

http://www.thisdaylive.com/index.php/2017/01/13/cbn-to-bdcs-we-wont-devalue-naira/


Opinion: Float the damn money and lets Naira find its true value. The damaged has been done to our Naira already.

lancee:




Na paralle market my oga 08joy dey chop
Beta biz than stock