₦airaland Forum

megawealth01:
Port Harcourt Refinery To Sell PMS At ₦‎1,030 — PETROA

https://dailypost.ng/2024/11/29/port-harcourt-refinery-to-sell-pms-at-n1030-petroan/

This PETROAN, are they the ones running PH refinery on behalf of NNPCL? They are announcing the refinery production levels and prices. Are they not just an association?

When the CEO of a bank buys shares of their bank, they are most likely looking long term. But even for short-term, there are some banks, such as FBN, that may have a good chance for capital appreciation after their RI.

HesInMe:
I honestly don't get why people are buying bank shares today sha. Yes, the lending rate has increased due to CBN, so their interest margin is up. But the only likely direction of lending rates over the medium term is down, not up. After all, all these banks have all this cash chasing limited high-quality lending and investment opportunities, and the easy FX round-tripping is no longer an attractive option.

Meanwhile, the number of shares outstanding has gone up dramatically following the recapitalization. Earnings per share (EPS) and dividend per share will down big time, making their shares ridiculously expensive on a price-to-earnings (or price to dividends) basis. What am I missing?

megawealth01:
The major problem with this whole thing is the fact that "reputable" media outlets carried the Port-hacourt Refinery and Nigeria Air stories without any form of verification!

In the end, only the truth will stand. DR

chimex38:
To break it down, probably he will have to be able to either predict the future or wait for next president-affiliated stock or senior political personnel

Not necessarily. Many of those who made big gains in Oando were invested in it for years. It didn't happen that easily.

designking:
Oando is this and that made me invest so little on the stock several months ago.

Today it has returned over 820% to my second stock portfolio. Imagine I invested just a ₦2million, it could have been a blast.

These days I only follow the direction of money, power and influence and Oando has all that till 2031.

Use this as lesson learned and apply it to the many similar chances that will come your way.

megawealth01:
Then you will be counted worthy to dine with WALE

Looking forward to it

megawealth01:
Are you a gamer?

Yuuup

emmanuelewumi:
So many red flags

Oando is definitely not a Warren Buffet stock. But we JIJO people do just fine.

Looks like we are back where we started

Omooloriredade:
Ideally, an email or letter should be sent to all existing shareholders prior to the AGM. That's the only sensible thing to do. How do I vote or instruct my proxy to vote if I'm not there and you did not already provide details?

ositadima1:
The shares resulting from Oando PLC's debt-to-equity swap will not be directly transferred to shareholders. Instead, they will first be added to the company’s assets. This approach stems from the fact that Oando PLC is the entity owed the debt and will receive the shares as settlement. Below is an explanation of the process based on available information:

Step-by-Step Breakdown

1. Acceleration and Novation of Receivables:
Oando PLC will accelerate (make immediately due) and novate (transfer) the receivables owed to its subsidiaries by related entities. This step consolidates the debts under Oando PLC, positioning it as the sole creditor.


2. Debt Settlement with Shares:
The related entities will settle their debts by issuing shares to Oando PLC. These shares are transferred as a settlement for the outstanding receivables.


3. Increase in Oando’s Assets:
The shares received will be recorded as assets on Oando’s balance sheet, reflecting an increase in the company’s asset base.

So, you mean they are playing Cowboyism when they clearly stated in item 3.1 (I) c, of Resolution 3, that there will be a distribution of the shares to shareholders?

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.

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?

bovali:
Quite insightful, thanks. Does the closure of register affect any of the resolutions? Or would it be the resolution date of 17/12 for qualification?

Looks more like this closure of register is only to determine who is eligible to attend the AGM and vote.

Locotrader:
Even though cash out has taken place in all Loco stocks,stay calm.dont panic sell any.
Japaul hold
Neimeth hold
Prestige hold
Chams Buy

You are a winner

Dealing in penny stocks is a high adrenaline game.

megawealth01:
E go hard to beat Wale in this game

No you can't. But if people confirm that they are getting Oando shares for free, ego hard to stop the bull

megawealth01:
Lawyer and language eh

The two add to produce a "COWBOY"

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

Madam yMyc well done oo. I am not an accountant, and I have similar questions with you. In addition I am actually confused with all the unfamiliar terms. I believe most shareholders that will be called upon to vote will be similarly confused. So I want to suggest that Oando publish or hold a "Facts behind the AGM" briefing, similar to that done for new listings. This will give opportunity for the company to explain what they really intend to do.

mikeapollo:
And why is Oando not releasing Q3 2024 results before holding the AGM which is slated for Dec 17?
Does it mean Q3 results will not be released in 2024?

Obviously they will release Q3 before the AGM. Probably on 16th, which was the date mentioned by Bagwa

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

Nothing on capital raising.

Oando AGM

Xidget:
Chams seller didn't come today

It's actually Loco. His attention is diverted to Japaulsand today.

megawealth01:
Anything (news) from this government is to be looked into with extreme caution

You're right. If it is true someone could have posted cell phone pictures of it by now.

Willie2015:
No need to go there...

Time will reveal whether its true or not....

At least we have a report for accountability sake ....

Why? When Dangote refinery started loading trucks, it was a media event. You will expect PH refinery's case to be even more so, to project a miracle.

Willie2015:
/https://nairametrics.com/2024/11/26/port-harcourt-refinery-begins-production-as-truck-loading-commences/

Nice one from BAT

Lazy journalists. They can't go there and confirm, only reporting what the government said.

megawealth01:
It's like na JAPAUL analysis wan full this trend today just like Oando did from sub 9 until 90+

I go dey watch how the game go be

Yes. It has also started to cause some VEWULENCE, which I thought only Oando does.

verocharles:
Please can one buy MTNN at the current price for a keep? Thank you

Yes you can. But whether you should? That's the question. Personally, I don't touch MTN.

Toluway:
Sand is categorized as solid mineral

That is not a good excuse. JAPAULGOLD is supposed to be a gold mining company. And people are exited because they got a contract of N26b to mine sand in 26 months. That is N1b a month, before cost. It may even take them a year just to mobilize. And because of that people expect the share price to rally to N10. That is the biggest MH is there was one.

megawealth01:
Same same... They should just give Alhaji this one too

💯

Actually, if the government has any sense they will convert the Kaduna refinery into a depot to serve the north, then connect it to the Dangote refinery. Kaduna refinery is already connected to all the depots in the North by pipeline. This will hugely cut transport cost and road reconstruction costs.

Bagwa:
https://doclib.ngxgroup.com/Financial_NewsDocs/42642_JAPAUL_GOLD_AND_VENTURES_PLC-JAPAUL_SIGNS_N26_BILLION_SAND_MINING_CONTRACT__CORPORATE_ACTIONS_NOVEMBER_2024.pdf

So, it is now JAPAULSAND

N6b changed hands on so far on FBNH today.

Locotrader:
My own is from now to Xmas,instead of selling,there will be buying.some stocks will even do 100% before the Xmas.
Next year from January to April,you will see mother of bull

If there is going to be a traditional Santa Clause rally it is usually from mid Dec to mid Feb.