Tritri:
MY LOSS WILL HIT N2.5M soon OANDO I dan enter am.. ( I remember The first day am about to buy oando my heart was telling me Na palava u dey find..na palava u go get oooh ...)

JIJO gone wrong ....

2.5m for only loss. hw much come be the actual money invested. i will be like u when i growoooo

Kevostica:


2.5m for only loss. hw much come be the actual money invested. i will be like u when i growoooo

lol... do you think Tritri be struggle investor he is big player brov

he put roughly N50m on DF alone.

his money in most of the popular stock on nse e.g Afripud, Ucap, zenith, uba, fcmb, fo, oando etc

currentprice:


lol... do you think Tritri be struggle investor he is big player brov

he put roughly N50m on DF alone.

his money in most of the popular stock on nse e.g Afripud, Ucap, zenith, uba, fo etc

Please Am here thinking of story to give families who's money i invested in NSE. dey r coming from abroad this year. Now i feel like LOCODEMY ..just because of OANDO....I might develop HBP at a young age just because of OANDO.

Tritri:



Please Am here thinking of story to give families who's money i invested in NSE . dey r coming from abroad this year. Now i feel like LOCODEMY ..just because of OANDO....I might develop HBP at a young age just because of OANDO.

Oga, talk true.

Na your money.

http://energymixreport.com/sec-petitioned-postponement-oandos-agm/

Business & Finance
SEC petitioned over postponement of Oando’s AGM
Sep 5, 2017

The majority shareholders in Ansbury Investment Inc. have sent a petition to the Securities and Exchange Commission, seeking the postponement of Oando Plc’s Annual General Meeting (AGM), The Guardian reports.

In the petition dated August 17, 2017, Ansbury urged SEC to postpone the AGM, pending the resolution of the shareholding matter earlier raised by it. Ansbury alleged that Oando was guilty of gross abuse of corporate governance and financial mismanagement.

But, Oando’s Chief Compliance Officer & Company Secretary, Ayotola Jagun, said the petition filed against Ocean and Oil Development (OODP), which holds 99 per cent and 56 per cent equity stake in Oando Plc lacked merit.

He said the issues raised had received the approval of the board and shareholders, adding that other matters highlighted by the petitioners could have been directed to the company for necessary clarification.

It was learnt that the SEC had constituted a task force and started an investigation into the allegations against the oil firm. It was further leant that a taskforce was convened on August 30, 2017, mandating Ansbury to prepare a detailed written submission stating the grounds upon which SEC should postpone the AGM.

Chibuking81:
http://www.tribuneonlineng.com/major-shareholders-move-sack-oandos-board-management/

Major shareholders of Oando Plc, a major oil and gas company in Nigeria, are making moves to oust the company’s board as well as the management led by Mr Wale Tinubu.



The major shareholders, Ansbury Investment Incorporated and Alhaji Dairu Manga, made their intention known in separate petitions to the Securities and Exchange Commission (SEC).

Oando, in a statement issued last week, confirmed the petitions and said the SEC was already investigating the matter.

Both Ansbury and Manga allege gross abuse of corporate governance and financial mismanagement, their reasons for calling for the removal of the management team and sack of all board members.

Mangu, who is said to own about 17.9 per cent share of the company, expressed his displeasure about the management of the company, especially the handling of the ConocoPhillips transaction.

Ansbury, on the other hand, had raised serious concerns about the capacity of the management team to effectively run the company.

Ansbury claimed ownership of 61.9 per cent of the British Virgin Island-based company, Ocean and Oil Development Partners Ltd (OODP BVI) while the remaining 38.10 per cent is owned by Withmore. The two companies control 99.99 per cent of Ocean and Oil Development Partners Nigeria Ltd (OODP Nigeria). OODP Nigeria controls 55.96 per cent of Oando Plc. So, indirectly Ansbury Investment Incorporated owns 55.96 per cent of Oando jointly with Withmore Nigeria

We always knew One day Monkey go go market and would not return. Wale's end is near...like it or not. I would love to see him leave that office with nothing after all he has done to minority shareholders.

The good thing is, he would leave now that Oil price is staging a recovery...

Chibuking81:
http://energymixreport.com/sec-petitioned-postponement-oandos-agm/

Business & Finance
SEC petitioned over postponement of Oando’s AGM
Sep 5, 2017

The majority shareholders in Ansbury Investment Inc. have sent a petition to the Securities and Exchange Commission, seeking the postponement of Oando Plc’s Annual General Meeting (AGM), The Guardian reports.

In the petition dated August 17, 2017, Ansbury urged SEC to postpone the AGM, pending the resolution of the shareholding matter earlier raised by it. Ansbury alleged that Oando was guilty of gross abuse of corporate governance and financial mismanagement.

But, Oando’s Chief Compliance Officer & Company Secretary, Ayotola Jagun, said the petition filed against Ocean and Oil Development (OODP), which holds 99 per cent and 56 per cent equity stake in Oando Plc lacked merit.

He said the issues raised had received the approval of the board and shareholders, adding that other matters highlighted by the petitioners could have been directed to the company for necessary clarification.

It was learnt that the SEC had constituted a task force and started an investigation into the allegations against the oil firm. It was further leant that a taskforce was convened on August 30, 2017, mandating Ansbury to prepare a detailed written submission stating the grounds upon which SEC should postpone the AGM.

Is like the really owners are coming out, and they want to take over from their temporary managers to reposition the firm.

Oando will have been better without conocophillip oil purchase deal, greediness is bad, the money involve in the deal is far bigger than the initial owner.

stcool:



We always knew One day Monkey go go market and would not return. Wale's end is near...like it or not. I would love to see him leave that office with nothing after all he has done to minority shareholders.

The good thing is, he would leave now that Oil price is staging a recovery...

If Wale survive these boardroom crises, he should go for Thanksgiving.

It clearly shows he is a minority Shareholder in Oando and the majority Shareholders are not ready to let go.

Guinness Nigeria Board Proposes 64k Final Dividend
https://www.businesspost.ng/2017/09/06/guinness-nigeria-board-proposes-64k-final-dividend/

CAN NSE ASI FINDS NEEDED SUPPORT BETWEEN 33,880 - 34,970?
The highlighted areas in the chart below have acted previously as Support and Resistance levels. Can the buyers come into market place at this level again? Only time will tell.

PLAN YOUR TRADE AND TRADE YOUR PLAN

currentprice:


with this report.., Guiness plc is over price from my end

beware of fake bid

I concur. The profit was boosted by unrealized gain from currency revaluation (see note 10a). If this is eliminated, and recalculation of EPS is done, you get 10k and not 128k reported...

The eyes that see are few but the ones that look are many...*winks*

boldwet:
http://thenationonlineng.net/sec-clears-oando-agm-holds-scheduled/

APCCCCC Oga Lancee you can see now Oga Tritri what did i told you ? can't you sleep well now ? oga coolcash1 how things my brother ? help me say hi to stockbull,9free and born 2be rich

boldwet:
http://thenationonlineng.net/sec-clears-oando-agm-holds-scheduled/

Regulator War: Wale win round one, more rounds to come

Media War: Stlill Stalemate: Wale fights back via family owned channel (Nation)-- Ongoing -- No Victor No Vanquished

Market War -- Loadinggggggggggggggg

http://allafrica.com/stories/201709060056.html

6 SEPTEMBER 2017
This Day (Lagos)
Nigeria: Intel's Volpi Steps Up Battle Against Wale Tinubu Over Control of Oando

By Ejiofor Alike

One of the founders and majority shareholder of Intels Nigeria Limited, operator of the oil and gas logistics terminals in Onne, Rivers State and Warri, Delta State, Mr. Gabriele Volpi, has stepped up his battle against the group chief executive officer of Oando Plc, Mr. Wale Tinubu, over control of Oando, citing alleged mismanagement, cooked books and huge debts, THISDAY has learnt.

Accordingly, Ansbury Investments Inc., a firm set up by Volpi, a multi-billionaire who holds dual Italian and Nigerian citizenship, with extensive interests in oil and gas, ports logistic services and real estate spanning 40 years in Nigeria, has written a petition to the Securities and Exchange Commission (SEC) and is seeking to stop Oando from holding its Annual General Meeting (AGM) slated to take place in Uyo, Akwa Ibom State on September 11.

He is also pushing for the removal of Tinubu and his deputy, Mr. Omamafe Boyo, over their inability to repay an $80 million loan, which he lent them.

However, Oando has pushed back on the allegations, with a senior official in the company informing THISDAY that Oando's AGM would go ahead as planned and accused Volpi of resorting to blackmail in order to force Tinubu and his deputy to buyout Ansbury.

In 2012, Volpi had through his company, Ansbury, invested about $700 million in Ocean and Oil Development Partners Limited (OODP BVI), a special purpose vehicle registered in the British Virgin Islands, by acquiring a 61.9 per cent stake in the firm, while a company owned by Tinubu, Withmore Limited, held 38.10 per cent of the stake in OODP BVI.

Volpi, who also has extensive business interests in Angola, is alleging that he lent $80 million to Withmore to enable Tinubu, whom he said he trusted at the time, to acquire the 38.10 per cent stake in OODP BVI.

Tinubu had approached Volpi to invest in the British Virgin Islands-registered firm when Oando Plc was seeking to acquire ConocoPhillips' upstream oil and gas assets in Nigeria for $1.5 billion, a deal eventually consummated in 2014.

OODP BVI, in turn, owns 99.99 per cent of the shares of Ocean and Oil Development Partners Nigeria Limited (OODP Nigeria), which holds 55.96 per cent of the shares in Oando Plc, the oil and gas company listed on Nigerian and Johannesburg Stock Exchanges.

THISDAY gathered that the grievances of Ansbury, which is now claiming to own 100 per cent of the shares of OODP BVI and 99.99 per cent of OODP Nigeria over Withmore's inability to repay the $80 million loan, effectively whittling down Tinubu and Boyo's interest in Oando Plc to 1.2 per cent, stemmed from the alleged mismanagement of the company by Tinubu and Boyo.

Ansbury, it was also learnt, is said to be alarmed over the alleged "huge financial mismanagement, very high debt and cooked books" of Oando.

Ansbury is alleging that Oando is in a very bad shape, despite the official financial communications from the company to the contrary.

It was further learnt that Ansbury took the decision to remove the CEO, and sack the entire board and management since March 2017.

Apart from removing Tinubu and sacking the board of directors, Ansbury is also planning to reject any proposal seeking approval for the remuneration of the CEO and other directors of Oando and also reject the approval of the company's 2016 annual report at its next AGM.

Speaking on the crisis of confidence between the shareholders, a source in Ansbury said: "The situation is that Withmore never repaid the loan, and Ansbury is struggling to recover the $80 million and the shares of OODP BVI.

"So the reality is that Ansbury controls 100 per cent of OODP BVI, that control the 99.99 per cent of OODP Nigeria, that is the main shareholder of Oando Plc.

"As far as we are concerned, Oando, in which we are the majority shareholder due to our indirect interest in the quoted company, is being mismanaged, its accounts are being cooked, and it has huge liabilities that have eroded the value of the company."

Oga chibuking81 stop all this long things, the website is ok please .

ihedioramma:
Oga chibuking81 stop all this long things, the website is ok please .

, sorry for that, I forgot that you have interest in OANDO.

Chibuking81:

, sorry for that, I forgot that you have interest in OANDO.

CHIBU, not only interest i am one of the ownners of the company . dangoteflour i think ?

You go fear Allafrica.com/stories. oga from your alleged source, your write up is pure STORY!

Chibuking81:
http://allafrica.com/stories/201709060056.html

6 SEPTEMBER 2017
This Day (Lagos)
Nigeria: Intel's Volpi Steps Up Battle Against Wale Tinubu Over Control of Oando

By Ejiofor Alike

One of the founders and majority shareholder of Intels Nigeria Limited, operator of the oil and gas logistics terminals in Onne, Rivers State and Warri, Delta State, Mr. Gabriele Volpi, has stepped up his battle against the group chief executive officer of Oando Plc, Mr. Wale Tinubu, over control of Oando, citing alleged mismanagement, cooked books and huge debts, THISDAY has learnt.

Accordingly, Ansbury Investments Inc., a firm set up by Volpi, a multi-billionaire who holds dual Italian and Nigerian citizenship, with extensive interests in oil and gas, ports logistic services and real estate spanning 40 years in Nigeria, has written a petition to the Securities and Exchange Commission (SEC) and is seeking to stop Oando from holding its Annual General Meeting (AGM) slated to take place in Uyo, Akwa Ibom State on September 11.

He is also pushing for the removal of Tinubu and his deputy, Mr. Omamafe Boyo, over their inability to repay an $80 million loan, which he lent them.

However, Oando has pushed back on the allegations, with a senior official in the company informing THISDAY that Oando's AGM would go ahead as planned and accused Volpi of resorting to blackmail in order to force Tinubu and his deputy to buyout Ansbury.

In 2012, Volpi had through his company, Ansbury, invested about $700 million in Ocean and Oil Development Partners Limited (OODP BVI), a special purpose vehicle registered in the British Virgin Islands, by acquiring a 61.9 per cent stake in the firm, while a company owned by Tinubu, Withmore Limited, held 38.10 per cent of the stake in OODP BVI.

Volpi, who also has extensive business interests in Angola, is alleging that he lent $80 million to Withmore to enable Tinubu, whom he said he trusted at the time, to acquire the 38.10 per cent stake in OODP BVI.

Tinubu had approached Volpi to invest in the British Virgin Islands-registered firm when Oando Plc was seeking to acquire ConocoPhillips' upstream oil and gas assets in Nigeria for $1.5 billion, a deal eventually consummated in 2014.

OODP BVI, in turn, owns 99.99 per cent of the shares of Ocean and Oil Development Partners Nigeria Limited (OODP Nigeria), which holds 55.96 per cent of the shares in Oando Plc, the oil and gas company listed on Nigerian and Johannesburg Stock Exchanges.

THISDAY gathered that the grievances of Ansbury, which is now claiming to own 100 per cent of the shares of OODP BVI and 99.99 per cent of OODP Nigeria over Withmore's inability to repay the $80 million loan, effectively whittling down Tinubu and Boyo's interest in Oando Plc to 1.2 per cent, stemmed from the alleged mismanagement of the company by Tinubu and Boyo.

Ansbury, it was also learnt, is said to be alarmed over the alleged "huge financial mismanagement, very high debt and cooked books" of Oando.

Ansbury is alleging that Oando is in a very bad shape, despite the official financial communications from the company to the contrary.

It was further learnt that Ansbury took the decision to remove the CEO, and sack the entire board and management since March 2017.

Apart from removing Tinubu and sacking the board of directors, Ansbury is also planning to reject any proposal seeking approval for the remuneration of the CEO and other directors of Oando and also reject the approval of the company's 2016 annual report at its next AGM.

Speaking on the crisis of confidence between the shareholders, a source in Ansbury said: "The situation is that Withmore never repaid the loan, and Ansbury is struggling to recover the $80 million and the shares of OODP BVI.

"So the reality is that Ansbury controls 100 per cent of OODP BVI, that control the 99.99 per cent of OODP Nigeria, that is the main shareholder of Oando Plc.

"As far as we are concerned, Oando, in which we are the majority shareholder due to our indirect interest in the quoted company, is being mismanaged, its accounts are being cooked, and it has huge liabilities that have eroded the value of the company."

ihedioramma:
Oga chibuking81 stop all this long things, the website is ok please .

Only my concern is that the really owner want to take over his company base on the mismanagement of the manager, and the manager is struggle to maintain stand.

He caused it himself, has it been that he carried on with Oando without eyeing conocoPhillips oil deal, by now Oando suppose not to be with any bad news.

He might be diverting the money into other of his personal investment, like Transcorp, leaving the share holders with nothing by the end of every financial year.

ihedioramma:
CHIBU, not only interest i am one of the ownners of the company . dangoteflour i think ?

Ocean and Oil Development Partners Limited (OODP) owns 6,734,943,086 (55.96% of total number of shares) shares in the Company. Mr. Francessco Cuzzocrea was a director of OODP
until Feburary 19, 2016. Mr. Jubril Adewale Tinubu and Mr. Omamofe Boyo own 22.38% and 11.19% respectively in OODP.
This is from the 2016 audited financial statements.

Wale and Boyo owns 33.57% of OODP while the other party owns 66.43%. Who wins the war in OODP will eventually win the war in Oando? What is baffling is how a minority interest in a company still finds a way to become the majority in a bigger entity is a question yet to be answered. We are waiting in the wings. I wish all the Oando faithfuls goodluck.

Ocean and Oil Development Partners Limited (OODP) has the shareholding of 55.96% at 31 December 2016 (2014: 55.96%). The remaining 44.04% shares are widely held. OODP is ultimately
owned 40% by the family of Mr. Gabriele Volpi, 22.38% by the Group Chief Executive and 11.19% by the Deputy Chief Executive of the Company.

SEC Approves Oando Plc September 11 AGM in Uyo
https://www.businesspost.ng/2017/09/06/sec-approves-oando-plc-september-11-agm-uyo/

rebekah2011:
Ocean and Oil Development Partners Limited (OODP) owns 6,734,943,086 (55.96% of total number of shares) shares in the Company. Mr. Francessco Cuzzocrea was a director of OODP
until Feburary 19, 2016. Mr. Jubril Adewale Tinubu and Mr. Omamofe Boyo own 22.38% and 11.19% respectively in OODP.
This is from the 2016 audited financial statements.

Wale and Boyo owns 33.57% of OODP while the other party owns 66.43%. Who wins the war in OODP will eventually win the war in Oando? What is baffling is how a minority interest in a company still finds a way to become the majority in a bigger entity is a question yet to be answered. We are waiting in the wings. I wish all the Oando faithfuls goodluck.

I think the window and doors are wide open for their passengers to escape before it will be too late.

Imaging, their 2016 final year result was release without any dividend or superb result, instead of their stock to decline or maintain their price at normal level, they manipulated their price from #4 to #9, it's very clear that they are good imanipulators.

BullBearMkt:
CAN NSE ASI FINDS NEEDED SUPPORT BETWEEN 33,880 - 34,970?
The highlighted areas in the chart below have acted previously as Support and Resistance levels. Can the buyers come into market place at this level again? Only time will tell.

PLAN YOUR TRADE AND TRADE YOUR PLAN

- umm desperately looking for support . .
- d further the trend gets extended , d lower d probability of continuation. next bump shud likely form a lower rsi level leading to -ve div on d weekly ! we wait and see !
- but a break below support , we out for good ! #CantShout

fxuser:


- umm desperately looking for support . .
- d further the trend gets extended , d lower d probability of continuation. next bump shud likely form a lower rsi level leading to -ve div on d weekly ! we wait and see !
- but a break below support , we out for good ! #CantShout

retracement vs reversal my fears being confirmed?

robobo:


retracement vs reversal my fears being confirmed?

Still a retracement , a break below support or prev lower low or swing low becomes a reversal

Biggest pull backs in Aug

- NSE Oil & Gas -11.37%
- NSE Industrial -4.69%
- NSE Banking -2.36%

#bleeding

fxuser:


Still a retracement , a break below support or prev lower low or swing low becomes a reversal

Biggest pull backs in Aug

- NSE Oil & Gas -11.37%
- NSE Industrial -4.69%
- NSE Banking -2.36%

#bleeding

ok sir
but what point on the index are these


below support or prev lower low or swing low?

robobo:


ok sir
but what point on the index are these
below support or prev lower low or swing low?

- I only ff banking index ohh ..
- 6 weeks PB thus far but RSI still encouraging. break below 420 is a major FLAG

Transcorp

- full offer at 1.30
- buyers wud prefer 1.20