₦airaland Forum

BabsO2:
OANDO: In less than 30 mins, N167 million worth of transactions has taken place.
Some people are bailing out at various prices on or below N15.45, with bail out offers trickling in and being mopped quickly, many are waiting at various price junctions from N 12.65 to N14.75

Where is @ZikkyChops?
We earnestly await your court update as usual.

Mankind2024:
If you are a trader, you have accumulated paper loss.
If you are an investor, nothing is lost.
Trading is a sprint, investing is a marathon.
Now, you begin the averaging down marathon.
You have done well by investing in Transcorp.
Transcorp is destined for NGN 1T by 3rd or 4th Q 2024. @N26, we are in NGX SWOOT class.
In the next few days, the N19.00 mark would be Exceeded.
People are using the eyes of yesterday and technical chart of discouragement to price Transcorp.
Wait patiently as Mr Transcorp deliver and reward all patient investors.
You will smile soon, you are already on board the train of PROSPERITY.
The last person I advised in July 2023, bought at average price NG3.45, managed to acquire 2M+ units at total cost of about 7m. He is not regretting anything today.
This government and Tony Elumelu would rise and sink together.
By 2025/26, Transcorp will begin the journey to N2T.
The PE mistake or error that Otedola saw which made him vow to take Transcorp to N2T market cap in few years if he had been allowed to execute the corporate takeover is now known to TE and other investors.
Believe it or not, Tony is taking Transcorp to IT in 2024.
Mind you, there would be volatility throughout the journey, sell off, profit taken, bad news, good news, technical and fundamental flaws, volatile quarters, stick to the N2T objective. You will soon be ahead of people that will struggle to get Transcorp at N30.00.
The code of the game 🎮 👌 is patient 🙏.

@Mankind2024
Please what do you have to suggest about those of us in OANDO?

Streetinvestor2:
ok thanks. I will send to my guy.i dey fear insurance companies. The eps of #8plus na him catch my attention

Don't you think it's N0.8..plus?
Calculate. Profit for the period divided by shares outstanding

We in OANDO bus seems left out from all these serious bullish market.
Na so we go dey?

yMcy56:
He must be referring to NB and GUINNESS

I think he is referring to OandO

yMcy56:
TRANSCORP @15!! 🔥

OANDO!!
This stock is now entering the analysts predictions/recommendation with price target......even Morgan!
It's well. We see how it goes....

* Quite some stocks on full bid.....

ZENITH@46!!!

Everything just moving fast fast

Please can you share the analysts' recommendations/price target on OANDO?

megawealth01:
This OANDO discuss eh... We wan resurrect am again

OANDO.
One month till Feb 5th for the next court hearing/judgement/adjournment.

Locotrader:
Good morning fams and happy new yr.
I have been busy all these while moving my computer business to base only in the East.My shops are affected in the recent demolition at computer village.Running my business in the East will help me manage my investments especially my bakery which will soon commence operations.

Happy investing

Solid mineral stocks is the right place to be in 2024.Men has taken position already waiting for the bumper harvest.If multiverse is doing this, Japaul will give many returns no matter criticisms.

My 2 stocks for 2024
JAPAUL
TIP

It is well.
You will only get better.

mikeapollo:
I guess these shareholders are the ones that Wale said had been settled with about USD600m!
This revelation by Wale is key and should be factored in in whatever analysis we are doing. What is bothering me is the court case that is being adjourned even after the so called 14 minority shareholders had been settled and paid off!
So who is/are the other party/parties still contending with OANDO in the court case if the 14 minority shareholders that went to court had already been settled and paid off?

https://nairametrics.com/2017/09/07/oando-petition-explained/
The $600m was used in settlement of the dispute referrred in the link. (You can research further on that)
I don't think it was for the 14 minority shareholders.

ihedioramma:
Truth, befor year end oando may get to #25+

We need to manage our expectations till the court process is concluded.

yMcy56:
As early as 10.43, you made this post......
Naija we hail thee.....
We are still waiting for the official outcome anyway...

On October 10, Same @ZikkyChops notified us of November 28 quite early just like this.

Locotrader:
You are on point my brother.

My own take is since the case is adjourn till February, oando share price should rise above #16 if the minority shareholders are serious .

I hope we can get the detailed information on today's court proceedings.
It will help in making some informed decisions.

emmanuelewumi:
I believe we know what we are doing, we are investing based on knowledge and information, but when we need to include our stocks into our daily prayer points, need to go to mountains and Shiloh, or bind and cast. E be like say the matter get as e be

You are somewhat right.
Those of us in the bus are not unaware that "the matter get as e be".
Some of us are relatively over-loaded.
I guess that's why we also pray.
Bet, invest, gamble, speculation all in one.
OANDO

megawealth01:
What if it's shifted indefinitely?

Indefinitely is most unlikely.
We will know SEC's stand on the proposed buy out offer of N7.07 as that's the reason for the shift to Nov. 28.
The court might also order OANDO to fix a date and conduct the AGM/EGM.
I have this faith that it will, after all, be favourable.

Simply my thoughts.
I

mikeapollo:
The court is likely to order Oando to fix a date for the extraordinary AGM (within a time frame) so that shareholders could vote and determine their acceptance or rejection of the buyout offer.
If the shareholders reject and there is another new/improved offer price from Oando, then it means they really want to delist and they may push for it. Otherwise, Oando would continue to be listed and then we continue to die there!

It's few days from now though the process may not end same day but it should get clearer.
Fingers crossed.

sboga:
no need for wat again?

Calling someone a novice is really uncalled for.
It's a faceless forum but doesn't mean it should be an avenue of throwing insults.
It's ok though.

sboga:
So we agree that oando is the spv to loot Nigeria dry and has to go private to avoid public scrutiny but at a higher price.

That kangaroo court like some rightfully said will be a joke. Na pdp and lp supppse Dey on top dis oando latter and become minority shareholders to keep the stealing in check.

I doubt if this is the reason for the delisting issue because the OANDO delisting issue started and has been ongoing even before this BAT administration. Listed or delisted, it can still be used

phadriz:
A company that can get loan approval of $800m without latest AFS, got court case withdrawal through govt will definitely buy it way to get kangaroo judgement to muscle out minority shareholders.

I don't want to delist and I don't want minority shareholders to benefit from my current profitable outlook. So what do I do? Create uncertainty and Shake off as many minority shareholders as possible and accumulate as many more shares to myself.
Could this be what is playing out in OANDO?
If so, then someone should inform OANDO that they've got a good number of really tenacious shareholders who will hang on tight and risk this uncertainty to the end.

ProphetUtuocha:
Over 48 million units of Oando have been bought today! Smart investors doing their thing.
Remember: Very soon, thou shall seek it but will not find it!

Over 55million units exchanged hands (bought/sold)

mikeapollo:
You are perfectly right.
This loan would ease off pressure on Oando but they need to achieve and sustain reasonable level of production.
The dynamics are beginning to change gradually, and I hope the SEC would stamp its authority if Oando management decides to go ahead with the delisting because I saw in the last AGM that they are cancelling the unissued authorized shares of the company, which looks like an indication of the intention to delist the whole shares of the company from the NGX eventually.

I think Cancellation of unissued shares is a directive to all companies listed on NGX

mikeapollo:
It is good that the loan is from Africa EXIM bank and not from commercial banks.
This is good news for the company and will definitely help boost Oando's performance.
The only thing that remains is peaceful environment in the Niger Delta for smooth operations

I still recall that how OANDO will raise money to finance the ENI transaction was discussed here.
Either by rights issue or more borrowings. OANDO has now borrowed.
During the 44th AGM, Wale told shareholders that sales proceeds from sale of OANDO retail outlets to NNPCL was used to significantly pay down the huge outstanding obligations/borrowing.
With this loan from AFREXIM, OANDO loan balance building up again.
However, it is a good borrowing in my opinion considering the fact it's coming from Afrexim Bank and also the deal for which the borrowing is meant for is profitable both in the short and long term.
Additionally, Since OANDO revenue is now majorly in foreign currency, the repayment will need no Naira conversion to foreign currency before repayment. This mitigates the risk of FX losses due foreign currency borrowings/obligations.


These are just my thoughts

megawealth01:
OANDO might still get to 200 sha but the delisting thing is just the fears...

Wale selling it in future will surely be 200 minimum in whatever exchange rate he uses... In his own words about 98% or thereabout of OANDO funds are all in dollars

98% of Revenue

bennybuhari:
Oando...judgement favours minority shareholders

Please details

mikeapollo:
Thanks for this.
OANDO has released a Notice of AGM holding in Lagos on 6-Nov-2023, but is silent on the de-listing of its shares as it is not mentioned in the notice of the AGM.
What does this mean? Not to prejudice the case in court?

Could this be tagged unseriousness with the delisting or do we expect another AGM specifically for the delisting?

benzmatic:
More goods to import, and more people wanting to import. It will put more pressure on the official markets, and the black market.

All the goods were previously being imported except that you cannnot access FX officially for the 43 listed items.

ojeysky:
I don't see it improving FX, maybe price of consumables will reduce marginally sha

It will ease the pressure on the black market.
These importers can now also access foreign currency through the commercial banks via Letters of credit and Bills for Collection at the official rate.

https://doclib.ngxgroup.com/Financial_NewsDocs/39575_OANDO_PLC-_NOTICES_OF_ANNUAL_GENERAL_MEETING_(AGM)_-__ANNUAL_GENERAL_MEETING_(AGM)_OCTOBER_2023.pdf
Please will the buy out offer be part of the deliberations during the AGM? It's not written in this notification.

robobo:
There is no eye on judiciary

The court is not a father christmas that gift what is not asked for by litigants

so it was what was asked for by the 14 minority that the court granted

the question is doesn't the 14 minority know what the NGX /SEC rules says before they shortchanging themselves


I said it several months ago that the only thing that can stop Wale from this shananigan is a counter court directives / injunction

If we can get a detailed information of the court process and what happened in court on the 10th Oct, then a lot of puzzle may likely be solved.

mikeapollo:
Thanks for uploading the NGX document.
This gives clear documentary evidence picture. Let's see if anyone would object further.

I hope the Rules will be adhered to....

vacanci:
the question now is, WHEN WAS THE NOTICE TO DE-LIST ISSUED. The price of 16 Naira in September is out of that period. I believe the notice was issued and the preceding 6 months has passed and the N7.07 we kept hearing was the highest amount during the preceding 6 months.
I do not think the exit price will be the highest amount within 6 months after the case is settled or during the period case is held. It is simply the highest amount with 6 months preceding when the notice to de-list was issued.

8. the share price at which the dissenting shareholders interest shall be bought shall not be less than the highest price at which the company's shares traded over the six (6) months immediately preceding the date on which the notice of the AGM/EGM at which the resolution to de-list the company was issued.

Has there been any AGM/EGM at which a resolution to delist was reached?
This should be the 4th rule, right?
Just asking

ProphetUtuocha:
With respect to Oando, those who want to be on the sidelines are free to do so. For me, I am firmly anchored in the Oando plane, no retreat, no surrender!. I was first to call it, based on objective facts. Keep your eyes glued on it! Magic will soon happen!

The delisting saga is a major challenge to decision making as regards OANDO.