₦airaland Forum

@ Ovamboland

The certificates for IGI private placement have been out since late last year.
At the time the Vice-Chairman said they will be listing by end of 1st quarter of 2008.

Contact IGI or registrar to the pp for your certificate.

I am sure they will eventually list but the owner has never been keen on listing.

Meanwhile they are people offering up to 5 Naira per share.

Goodluck.

Samstone4

@ Easi

Thanks for the confirmation.

The gist fits.
If the gist don't fit you must desist - as I used to advise the late Johnny Cochran during the trial of the century.

Samstone4

@ FO2, Shigidi, Easimoni etc etc

Any info on private placement of Starcomm?
Have been offered at 12 Naira each but heard earlier that there is no pp just PO by IBTC this April.
Am I about to be 419ed?

Samstone4

@ sdeck

We must blow our own trumpet as Nigerians. It is harder because of all the negative things that have been done by some of our countrymen and women. Also exacerbated by the all-embracing gusto with which the Western press highlight these shortcomings.

Samstone4

@ Ioma, Wanajo

Back in the day that rhyme/poem was a hymn.

As a goodie goodie monitor I used round up all the dropouts and make them attend school assembly and sing it to their hearts content - like a mafia stool pigeon ratting on the godfather of the Genovese family in Gotham city.

Samstone4

@ Nairalanders

Got Farrhakhan link.
Will email the link to all myfriends.

At least Farrakhan does not rundown Nigeria like Oprah Winfrey and Colin Powell.

Nigeria is not perfect but it is getting better.
We need constructive criticisms not bland denouncements.

Samstone4

@ Seun

What happened to pages 710 and 711.
Some of my postings there seem to have disappeared.

@ Nairalanders

Does anybody have info about IGI listing?
My contact there seems to be fed up with me.
apparently someone is willing to buy my shares for 4 - 5 Naira.

Any comments?

Samstone4

@ Invisible

Tourist company of Nigeria is a company controlled by the Ibrus, as is Ikeja Hotels.
It owns Federal Palace Hotel in Victoria Island.
The results have not been as good as Ikeja Hotels but not sure about the shares performance as have not been following it.

Samstone4

@ Ioma, AKT, Nairalanders

Good to see all the fillers away from the NSE day jobs.

Since Ioma has invoked my spirit will add:

"Grandescunt aucta Labore" - like we used to say in the ole days in midtown Montreal and some of the silent readers with Canadian connection may know.

Chill during Easter and don't forget the message of Easter - for the Christians.

Samstone4

@ Jideakin1 etc

The chart for Transcorp today.

Long story about pasting it here so will just summarise:

The candle is red which means the price closed lower than the opening price. It however closed higher than the close on the last trading day. Don't remember whether this is an Emperor Hirohito or a Bruce Lee! Or is it princess Diana?

The 10 day moving average is cutting upwards across the 25 day average. The RSI, momentum and histograms are all trending upwards.

These all indicate an upwards trajectory for Transcorp but the red Bruce Lee today with a reasonable volume is a slowing down from its usual maximum gain.

Those in for cico with nervous disposition should sell but know that if the Moslem and Easter breaks had anything to do with the movement it could be a totally different direction on Tuesday.

My suggestion is watch it again on Tuesday and if it levels off or drops time for cicoers to bail.

This is a one stop service for Transcorp only. Hope AKT agrees.

Samstone4

@ AKT

You missed the inverted dragonfly, bruce lee, hirohito doji of Transcorp. Very careless and CHEEKY!

As I posted in response to Invisible, I think Transcorp is rising because of the imminent resolution of Nitel wahala. Likely to be on terms favourable to Transcorp.
Just my assessment not any special inside information. I do know of one other major Telecoms company that is positioning to contest Nitel with Vodacom. May be a factor in the price movement.

Samstone4

@ Pumping

I remember asking why you did not paste the link - "the link that dares not say its name" etc.
Just take it easy.

Cheers.

Samstone4

@ Invisible

How can the Perpetual Chairman of Transcorp sleep? Cheeky!!
Do you want me to take the Chevrolet back?

The enemies of Transcorp have done their worst and failed.
What is left now is how much will they get for their relinquished portion of Nitel? The residual will generate good income for Transcorp under the new competent and solvent owners.

Can't say what else is driving the price but it was flying before minister of miscommunication struck.

Relax and wait for the loot to come rolling in.

Samstone4

@ Benny 1877

Bought O & O at 182 and bailed when it dropped to 262.
Action speaks louder than words - like we used to say to the damsels when they said "you never tell me you love me".

Samstone4

@ Highlander

Any idea who is grabbing all the Costain offer?
Note that most of the hybrid was for the rights and relatively small amount was PO.

Gist us - like the women say when keeping the bride company in the fattening room.

Samstone4

@ Rasputinn Et Nairalanders

Costain has a very, very huge infrastructure contract.
Don't know details.

Bon chance - as le rogue trader might say.

Samstone4

Deleted duplicate.

SS4

@ Nairalanders

Re: IGI

There was talk of IGI having a meeting to discuss listing date a couple of weeks back.
Any word about the outcome?

Samstone4

@ EKWA

Welcome!

How did your broker manage 7 million units of AIICO?
Was is from the secondary market or PO?

Couldn't get it even through an AIICO director - said there was no such thing except for the ones specifically mentioned in the prospectus.

Can you please share your brokers name. Will like to open an account with them.

@ Easimoni

Thanks for the Food Concepts prospectus. Been looking for it.

Samstone4

@ Invisible

You never heard of Infra Red scope?
Less said the better. It makes it easier for the sniper to catch you - like overconfident soldier who thought he had bulletproof juju.
We wont even need the Baretta. An Enfield will do.

All my trumpeters will get the vote on the board but it will be purely an advisory board to our majesty.

@ Sly from Baghdad.

A lot of our ops in your region in recent years.

Our erstwhile chum has gone to meet his maker.
At least he didn't flee into exile with loot like our immune leaders will do before you can say "international warrant for arrest".

Ever heard: "My future's so bright I gotta wear shades"

Samstone4

@AKT,Invisible

Thanks AKT for warning off Invisible.
He wants to challenge for Chairman of Transcorp!!! CHEEKY!!!

I will upgrade your AK to the latest Beretta sniper rifle.
Deadly at a distance of 2 miles - in my hands, I don't know if you've had much practice at shooting accuracy. Seeing that AK is notoriously inaccurate - like we learnt on special ops along the Khyber pass.

Anyways, Invisible can become 3rd assistant, to the second vice-president in charge of my trumpeters.
He can get the silver Independence day style Chevrolet but without the fancy horns. He has yet to earn that.

Competition hotting up to buy Nitel. Have inside track on one of those positioning.

Samstone4 for Perpetual Transcorp Chairman. That will forever have immunity from prosecution, like Odilli.

Samstone4

@ Blueband

Change your name to Redband and the reds will disappear - like Liverpool FC from the title chase this year.
Don't panic. I'm optimistic.

Samstone4

@ Eniyanman

The gurus have given comprehensive replies to your queries.

I must advise that a lot of respected commentators have warned in the past year or so that the market is highly overvalued and that a correction is imminent. These include "Smart Investors" the magazine and Bismarck Rewane.

Mr Rewane, who is a major shareholder in one of the banks, specifically said that many of the banks are over-exposed in their loans for shares purchase. I believe that the figure that has been mentioned is as high as 40%. Don't know if this figure is correct but factor it into your consideration.

My take is that, thanks to EFCC and banks consolidation, the market will remain "overvalued" for a long time. In short, I don't expect any prolonged bear season for now. We are just seeing how rich Nigeria truly is. Long may it continue.

The key to stocks investing is never put more than you can have tied down for a long time in shares - sound companies, of course. Only a small fraction of my portfolio is for CICO.

Goodluck and don't panic!

Samstone4

@ Roughcut

I think you're mistaken about Vodacom.

It did come in with the original incarnation of Celtel but pulled out because of ethical concerns. The associate company, Vodafone, had something to do with that.

The company that lost the $100 million deposit was IIL. This was money it borrowed from 1st Bank and it was as a result of this matter that Longe was sacked as MD of 1st Bank.

Before Longe was replaced as MD of Transcorp it was strongly rumoured that he was at advanced stage of discussions about bringing Vodacom back as an investor.

I suspect that the recent noises about reversal or no reversal has a lot to do with who controls to whom and how the Nitel stakes are divested.

By the way, maximum gain for Transcorp today. Hope it continues.

@ Nairalanders

Regarding the exchange of insults, let the silent majority of us continue with the real business of Nairaland and ignore the insults. Please no further pleas to anybody. They will stop when they feel like.

Samstone4

@ Nairalanders,

This from Tuesday's Punch:

"NITEL: FG, Transcorp open talks with Vodacom
By Everest Amaefule, Abuja
Published: Tuesday, 11 Mar 2008
There were indications on Monday that the Federal Government and Transnational Corporation have initiated moves to bring in Vodacom of South Africa as core investor in the Nigerian Telecommunications Limited and its mobile subsidiary, the Nigerian Mobile Telecommunications Limited,

The Federal Government, which currently holds 49 per cent equity, and Transcorp, which holds 51 per cent equity in the telecom companies, had recently agreed on the need to bring in a new core investor that had the expertise and resources to turn around the First National Operator.

According to the terms of the agreement, the new investor would be offered 51 per cent equity to enable it have a firm control of the management and operations of the telecom companies.

The 51 per cent will be contributed by the Federal Government, 24 per cent; and the Transcorp, 27 per cent. This will leave the Federal Government with 25 per cent, while Transcorp will retain 24 per cent.

Apart from Vodacom, which had at a time shown interest in NITEL along with its parent company, Telkom of South Africa, our correspondent learnt that two other European companies are also being spoken to as potential investors in the telecom firms.

The 25 per cent equity left for the Federal Government may be split between the Nigerian Communications Satellite Limited and Investors International of London Limited.

These are part of the recommendations of the Technical Committee of the National Council on Privatisation headed by the Vice-President, Dr. Goodluck Jonathan.

IILL had bid $1.317bn for 51 per cent equity in NITEL in the first attempt to sell the company in 2002.

However, it could not raise the money to pay for the shares when the Bureau of Public Enterprises invited it to pay.

It lost the $100m it had paid as deposit for the transaction, and this might have formed part of the reasoning to accommodate the company in the new shareholding arrangement."

Samstone4

Beswyt wrote:

"#20369 on: Yesterday at 09:48:52 PM »  

--------------------------------------------------------------------------------
HI EVERYBODY. I appreciate the goog work you guys are doing here it shows a lot of LOVE and RESPECT.  i want to be part of this thread.
please can someone tell whether to sell transcorp or hold. thanks you all. "


@ Beswyt

I take it you did not buy Transcorp at 50 kobo?
Whether you sell or hold depends on what you wish to do with the money.

If there is a sure opportunity then you can always sell at a loss to use the money elsewhere.

Note that before the minister of miscommunication made his announcement Transcorp was gaining maximum daily.
I don't know why this was the case or whether the impetus has changed.

Goodluck.

Samstone4

@ debenzd

It may well be true that Wapco will do a PO.
It makes sense in the current climate in order to expand their production.
Especially in view of their recent history of being bogged down with servicing their huge debt.
This is what some of us have been urging UAC Properties to do instead of borrowing money at exorbitant interest.

My points were:

It was illogical to expect Wapco to do a bonus. This will not get them the cash injection they need for their expansion.
Wapco, unlike the banks, is not likely to actively pump up their price before any PO.

It seems to me that the owners, Lafarge, are serious people with relatively high ethical standards. They are not into any "my share price is higher than yours" game.

Samstone4

@ Nairalanders

Rumour of PO by WAPCO? Now Lafarge-WAPCO, of course.
Last year - rumour of bonus.
This year - rumour of bonus again!

Were rumour of bonus to prove true?
Don't believe WAPCO is into pumping up the price. Unlike most of our banks.

I think WAPCO in the past few years has raised its ethical standard to another level.

Don't get suckered by any so-called rumour concerning Wapco - like the hard man said to the wide-eyed boy.

Buy it only as a solid long term hold.

Samstone4

@ Hbrednic, Nairalanders

Did not realise my entry about Transcorp sounded so harsh.
It was not intended to be harsh
Just meant to say it as it is .
The truth is the truth and all that jazz - as we used to say at "Matinee a Go-Go" in the good ole days.
Trust Hbrednic will vote for me now, as Chairman - not MD.

Samstone4

@ Nairalanders

Irrational dislike of Transcorp again.

I have noticed some entries criticising those who wish to buy Transcorp shares.
Assuming Transcorp is rubbish. Is it the only rubbish (fundamentaless) company that Nairalanders have been buying?
Why should the idea of anybody buying Transcorp provoke such outcry?

Remember that before the Communication minister made his announcement of the so-called reversal Transcorp was doing maximum of 5% daily and was impossible to get.

The presidency has formally overruled the minister.

The events of the past few weeks make Transcorp proponents stronger as it is well nigh impossible for the talk of government takeover of Nitel to rear its head again.

Those who wish to buy should buy and those who don't should stay away or come up with a new rational reason to dissuade others.

I don't know Obasanjo but we should all accept that his policies allowed us Nairalanders to make money on NSE.

Samstone4

@ Pumping

I think the target price of Costain given by the MD as 30 Naira in 2009 refers to the diluted post rights and PO price.

@ Upward

Thomas Wyatt was on suspension for a rights issue. There was no PO.

Samstone4

@ Pumping and Ioma

Following the intervention of Ioma I have decided to send my Delta Force to supervise Pumping's action against Cashcraft.
Pumping. Go ahead with your plan to write SEC and copy Cashcraft.

Make sure the copy to Cashcraft is addressed to the MD.

My Delta will be in the background to put his favourite dog's head in his bed.
To make him an offer he can't refuse - as we used to say during joint operations with the Cosa Nostra.

Samstone4