₦airaland Forum

@ Roughcut and Pumping

Which stock are you talking about here:

Infact the current PE is 25 not even 41 and forward PE at current price is ~15 this is because i have been conservative with the expected PAT growth rate.

FYE '07 PAT was N439M and 800M shares listed. They actually increased FY PAT by 128% so i have assumed a PAT growth rate of 60% if i had used 100% that would been a PE of ~12. All of a sudden its looking good in my spreadsheet.

Not sure about bonus sha!They didn't actually give a bonus they doled out a 25K dividend

Samstone4

@ Crazy T

I also have UTC and will sell whenever I need the money.
I tend to buy shares that I will be happy to keep long term.
Can't tell you if there is much more upside to UTC so you can do like me, if you like - like Ike used to say to Mike J when he was a kid.

Samstone4

@ Nairanders including Wanajo, FO2 and Windy

Hot rumour that Zenith bank PO and rights issue raised about 650 Billion Naira instead of 130 Billion sought. It has it that lucky Jim is confused as to what to do!
My first suggestion is to scrap the preferential allotments but won't hold my breath.

How do you folks think this will affect the secondary market value when the rumour gains common currency?
One would normally expect the price to skyrocket but not so certain now in view of what happened with 1st Bank.

I guess I just let the cat out of the bag - as an ole family friend, of blessed memory, we used to call BBC would have said.

I don't own any Zenith share.

Samstone4

@ Rasputinn

In the Japaul public offer only those who applied for 50,000 or less got 100% allotment.
I think 50,001 to 200,000 was about 17% and about 5.5% when it exceeds 500,000 units.

The additional rights were little better: about 9% if you applied for additional 500,000 and above.

These are ballpark figures from memory.

Samstone4

@ Andico34

The meagload to MTI pp has not worked.
Can you please check.

Thanks.

Samstone4

@ Windy

Just for you and all your "on the ground information":

Samstone4

@ Yodi

He said they will not let him vote with Nigerian pali.

You can't vote with green card.

Not implying he is an illegal alien, as we used to say in "God's own country".

Samstone4

@ Pumping, Easi. Yodi, Highlander, Romans & countrymen- not forgetting Napolean!

What is this link that dares not say its name?
The only uploads so far are Bidco and Omega. Are those the ones?
Please let us all know.
No point in this person to person stuff.

@ Easi,

My understanding was that you had to have US citizenship to vote. Not like in the UK.
Or you were joking?

Samstone4

@ Igetwicked

Narcissism is from a character in Greek mythology who fell in love with his reflection in a pool of water.
It refers to somebody who loves himself excessively to the detriment of others. An egotist.

Blueband will give you a more exact psychiatric definition.

hope of some help.

Samstone4

@ Goldenson

Re: BGL PP.
You did not ask me.

I suggested in an earlier entry that the timeframe was too long.

If you know Okumagba jnr well and can afford to tie down the money for 2 years you should go for it.

Samstone4

@ Naijadr etc

In ole days Bata was a shoe shop on Broad Street, Lagos. Lennards was another shoe shop next door but on a side street leading from Broad street to Marina.
Unless Lennards has acquired Bata, they are distinct companies.
Bata shops are in places like Philippines, Sri Lanka etc but don't know if it still exists in Nigeria.

Samstone4

@ AKT

I'm not one of the assassins although I agree with Afamako.
Discovered a long lost person on this forum recently.
I don't disclose my identity because I want to be able to discuss freely.
Back to Gapbridge, what's your take on it?

@Wanajo

Got some O & O on your advice recently. Been gaining maximum since then.
Wish I had been able to buy more but even the small amount I received was fortunate as I hear it is very hard to obtain.

Samstone4

@ AKT

What do you think of Gapbridge Microfinance?
The CEO is your namesake. Is he related to you?
Please give us the lowdown you have on the company.

Samstone4

@ Blueband

Where does this guy come from?

I have invested once for a friend but it was deliberately less than he wanted because of reasons like this.
There is somebody else now who wants to discuss investing with me, a cousin. I intend to just point him in the direction of brokers. Don't want the headache of being bothered about what is happening with the stocks.

My advice to you is to give him his money and get a receipt. Refuse to continue with the arrangement and if the value goes up it is just tough for him. Otherwise tell him to take the value if you sell right now including all the charges deducted.

I think it was poor judgement for you to have agreed to this arrangement with this guy. You obviously misplaced your trust.

Samstone4

Deleted. Duplicate!

@ Etin

I was at the wedding.
The number I have for you is obsolete.
Leave your current number with your uncle in Brixton and I will get from him.

Samstone4

@ Etin

The number I have for you is no longer valid.
Call your uncle in Brixton and I will get your current number from him.
How is your older sister?
Valueline is currently doing a public offer so it should be easy to get their contacts.
Try googling them.
If you fail I will try and get their phone for you.
Samstone4

@ Ijogbon,

I think all the subsidiaries of O and O have been consolidated with the parent company.
Please double check though before you invest.

Samstone4

@ Etin

Valueline has an office in Benin-City.
I don't use them but know somebody that does and is, by and large, satisfied but not perfect.
I think TRW also has an office in Benin but not sure of this.

I suspect you got married in a Clapham church a few years ago?
Confirm this and I will try to pull out your phone and call you.

Samstone4

@ Londoncool

Why do you sleep so early.
We need you to keep vigil on Nairaland.
Wake up and return to your post - as we used to order our sentries at Dodan Barracks.

Samstone4

@ Goldenson

I also got the invitation from BGL some months ago.
I expect it to be a good investment and if they tell you they will list at 30 Naira you will have to decide whether you believe or not.
The main issue will be when are they going to list? Did you ask them that? Please tell us if you know.
It is a lot of money to tie down.

Samstone4

@ Etin

Valueline has an office in Benin-City.
I don't use them but know somebody that does and is, by and large, satisfied but not perfect.
I think TRW also has an office in Benin but not sure of this.

I suspect you got married in a Clapham church a few years ago?
Confirm this and I will try to pull out your phone and call you.

Samstone4

@ Debenzd

Can you please paste the details of Bagco allotment or tell us where to view?

Samstone4

@ Man Jiro

AKT probably asleep now.

I think there is a recent requirement that all offers must be underwritten to the tune of 80% minimum.
It means that the underwriter agrees to buy this amount of the shares if the public does not.

IBTC underwrote Presco some years ago but the public did not take up all the shares so IBTC had to buy the balance.
Underwriting has expanded the practice of preferential allotment which allows the underwriters to determine who gets the shares in POs. The SEC has banned preferential allotment from April, I think.

Transcorp did not underwrite their PO. Either they were overconfident from the triumphant private placement or could not get takers. The result was that when it was only 30% subscribed the company could not get the shortfall from any other source except to borrow from the banks.

Hope this helps.

Samstone4

@ Damoche07

I have noted your longitude and latitude and my lawyers are already going straight to the supreme court to automatically block any future case you may launch against my election to Chairmanship of Transcorp.

Some background information. The president was apparently furious when he was told about the plans Iseghohi had in place for Transcorp after the Transcorp leadership met the vice-president. It is reported he had been misinformed by the Communications minister.

In the ole days a minister in the UK would have resigned over such. Not so certain of today.

If you're lucky, I will consider you for the position of assistant to the deputy vice-head of my trumpeters once I am elected. You will be entitled to a shiny new Chevrolet with a fancy horn - like the politicians of the first republic.

Samstone4

@ Windy

Thank you for backing my campaign.
We will win at the Court of Appeal and even at the supreme court as well.

Samstone4 for chairman of Transcorp and now of UAC too!
What about Dangote Group? Maybe I'll leave this one. Knew him when he was starting out in Surulere in the ole days. When we were still ultra focused on acada.

The rights issue will not dilute UAC holding only if they take up all their rights. The interest of the company may justify their reducing their percentage of the company allowing other investors to raise their shares. About 2 - 3 years ago there was talk of a hybrid offer but before you could say "dictatorship" it disappeared from the horizon like an armed robber fleeing the scene of a crime - like we used to say when fighting fire for fire in MOPOL.

Samstone4

@ Crazy T

I see you have read some of my postings?
You forgot the one where I asked you to reduce your holding in Fidelity from 40% of your portfolio.
High volume, high potential gain but also high potential loss.
Still think 40% of your portfolio in one stock is too aggressive.
Even for young Turks like us - as we used to say on the streets of Paris 1968.

@ Pumping

Think it was Otedola that bought AP not Dangote.
Understand that Dangote is buying Chevron or vying for it.

@Wanajo
Re: UAC Properties
How can debt be cheaper than raising equity in today's Nigeria? As far as I know interest is usually about 20%.
Surely not cheaper than rights issue even if less expensive than POs.

Samstone4

@Wanajo, Roughcut, Windywendy etc

UAC properties has been a bit sluggish lately.

They did gave a paltry 1 for 10 bonus about 2 years ago and the dividend yield is poor.

They bought 1004 with Union bank and the bank's subsidiaries but UAC Prop eventually took over the entire thing.

The problem with Lagos state government has to do with the state demanding that they pay some tax for environmental impact of the development! This is more like blackmail because we all know that the actual population of 1004 is likely to go down after the development compared to when the money changers used to rent the flats out by the room.

Not based at home, but my understanding is that after months of inactivity work resumed in January at 1004.
My problem with UAC Properties is the fact that they keep borrowing money to finance their projects when the small investors keep asking them to do a rights issue to finance these projects. All Toms, Dicks and Halims are coming to the market to raise money but not our UAC Properties.
The parent company always insists that they won't take up their rights. I suspect they are more concerned about losing control of the company than making money for us small shareholders. This is not in the interest of the company.

I remain there but would have taken  a considerably higher stake in it if not for this anachronism.
Perhaps it will take some changes at the top of UAC before we reap the bounties - to use Nairalander language.

It is still a good stable stock that you can go to bed and forget, it will never crash at the current price.

Meanwhile we pray for a miracle to begin - as we used to say while fasting for 100 days nonstop.

Samstone4

@ Blueband

I used to be with CSL about 8 years ago.
I had a very keen accounts officer but when she was promoted away from that post they started to neglect my emails.
I was forced to move from there. I got the impression my portfolio was too smal fry for them at the time.

My advise is to use a broker you have some connection with.
CSl may be very good in terms of acess to new issues and PP.

As for safety of your money, I can recommend FSDH.

Samstone4

@Pumping, Wanajo, Mr Risky etc

Re: Big Treat exptrapolated forward PE of 114.
Was the impact of money received from the private placement considered in arriving at this figure?
We all know they just concluded a private placement which will likely have dramatic impact on the profits.
This should place the projected PE in context.

Samstone4

@ Roughcut

I think Yaradua will be best to reform the electoral system.

Buhari would have made a very good effort but can't trust him not to insert some antidemocratic terms. He would have been very good for fight against corruption.

No comment on Atiku.

Samstone4

@ Nairalanders

Shock! Horror!!

Judge decides that Yaradua to continue.

Excluded voters did not sue that they were not allowed to vote!!

Maurice Iwu ought not to have been joined in his personal capacity.

There were substantial compliance in the disputed states.

Non binding of ballot papers nor non-serialisation did not affect outcome i.e. no evidence

Failure to include the correct logo of one of the contestant - no evidence that any voter was deceived by this and did not substantially affect outcome.

Still going on but as we used to say after crossing the Sahara by foot without assistance - the rest is history.

The irregularities did not substantially affect the outcome of the election.

Samstone4