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SOME FELLOWS DO NOT EAT CRAYFISH, SNAILS, ETC. THIS PRACTICE IS ...

https://www.nairaland.com/3560501/holineness-righteousness-revival-messages-bible/24#81860004

SOME FELLOWS DO NOT EAT CRAYFISH, SNAILS, ETC. THIS PRACTICE IS CONTRARY TO NEW
TESTAMENT BELIEVES. BELOW ARE THE ONLY THINGS CHRISTIANS ARE TO ABSTAIN FROM.

Acts 15:28-29 King James Version (KJV)
For it seemed good to the Holy Ghost, and to us, to lay upon you no greater burden than these necessary
things; That ye abstain from meats offered to idols, and from blood, and from things strangled, and from
fornication: from which if ye keep yourselves, ye shall do well. Fare ye well.

IMAGINE HOW POLLUTED, FORNICATION IS.

Share this correction.

MARANATHA!

Mcy56:
Good question.
I guess the remaining shareholders will still be shareholders receiving dividends or they may buy them out.
Let's wait for the elders to help us throw more light on it.

I believe ... the regulatory bodies should have guidelines to the actions

Princkez:
https://nairametrics.com/2019/09/02/how-ignite-investments-moves-could-delist-forte-oil-from-nse-experts/

If they decide to delist FO after buying 500,000, what would be the fate of other remaining shareholders and their shares??

meshpips:
Do not buy FO until AFTER it closes a week above 18.00

Once "good news" in the financial market is made public, DON'T FALL FOR IT!

More often than not, it would be a trap.

I thought like you in the time of diamond and miss the opportunity.

I keyed in danngflour and made some money.

I ... seriously thinking of this FO stuff.

onegentleguy:
I have received several mails in the last 2 days asking for my take on the recent proposed MTO to the current shareholders of FO by Ignite Inv & Commodities Ltd.

This analysis is intended to highlight the key area of FOCUS with regards to the said offer.

A brief;

Company- Forte Oil(FO)
Current OS- 1,310,629,1267
Current shareholding structure:
Ignite Inv- 970,166, 694(equ 74.02%)
Other stakeholders- 340,462,573(equ 25.98%)

MTO proposal; "that Ignite inv & commodities Ltd offers to take up a total of 500,000 units of FO from willing existing shareholders @ a per equity price of N66.25, and increase its stake from the current 74.02% to 74.04%... a 0.02% vol differential.

1st off, here are a few points to note:

1) The MTO has been authorised and registered by the CMOs including the SEC.

2) Only demateralized(electronic format) shares of FO held via a stockbroker are acceptable.

3) The notice did NOT state a QUALIFICATION DATE.
The implication of this is that until the deal is consumeted(assuming a person does not exercise their right to withdrawal) every current or prospective shareholder of FO is ELIGIBLE to partake of it !!
NOTE that consummation in this case means post deposition(of shares) and until 10 working days after then.

4) Interested applicants must fill out an acceptance form duly stamped and signed by their respective brokers, and attach their most recent CSCS statement of A/C, before sending same to the registrar(VERITAS)

5) The offer price is exempt of CGT(capital gain tax)
...so by inference, the MTO of N66.25 is net of WHT. It is non-taxable !!

6) Ignite Inv reserves the sole right to possibly extend the offer period if it becomes necessary.

7) Ignite Inv shall offer to buy out only 500,000 units of FO @ N66.25 and pay out a total cash consideration of N33,125,000 to the various bank A/C of willing shareholders who deposited their stakes with the registrar(via their broker) before the closure time and whose acceptance forms were duly consummated.

8] In the event of an over-subscription, Ignite inv shall imploy a simple mathematical method of scaling back(such excesses) using the company's(FO) OS net of its original holding as a benchmark.

To illustrate;

Assuming a shareholder owns 20,000 unit of FO, and decides to tender all of it in exchange for the offer value of N66.25.
The offer shall either be fully or partly consummated.
Now assuming that only 15,000 was accepted(following full subscription), then;
Using the company's total OS net of Ignite Inv stake, the excess shall be scaled back to determine what PROPORTION/vol(in units) Ingite inv would further dim fit to take up.
Mathematically, the portion to take up from the excess(5,000 unit in this case) shall be computed as follows;
Total No of shares tenderd for the MTO by the said shareholder/total No of shares tenderd for the MTO by ALL eligible shareholders X actual vol of MTO.
= 5,000/ 340,462,573 X 500,000
Which is approx 7 unit.

Note that the total No of shares tenderd for the MTO by ALL eligible shareholders is assumed to be the total stake of FO held by others aside Ignite. The simple reason is because it makes common sense to believe that everyone(or at least 90% of current holders) will most likely apply for the MTO given the huge premium from the coys current mkt price.

The interpretation of the estimate above is that in the event of an over-subscription, an excess of 5,000 'un-alloted' unit will likely see Ignite Inv take up only 7 unit therein, Ceteris paribus.
So for every 1 excess unit(post full subscription), Ignite shall only probably take up an additional 7/5,000 or 0.0014 unit after all due consideration.


My analytical take:

Looking @ FO Oils H1 2019 financial print, the coy saw an outstanding improvement accross all KEY revenue and earnings line.
Amongst the drivers, were positive margins that cut accross the coys top line, bottom line and cashflow trend.
To narrow it down, GROSS MARGIN, NET MARGIN, PAT MARGIN, RoIC, ROAA, ROAE, EPS and EM all showed a fine improvement. ...with the latter 2 showing a remarkable double digit growth.
Like i've stated in the past, one of the things that impresses me about FO is the lower risk now associated with what used to be a 'earnings devourer'(NCI).
...meaning that the core of distributable earnings can now get to those who truly deserve it(shareholders)
Again the coys RoIC, ENTERPRISE VALUE, RE, CASH POSITION, AsY and AsQ describes a stock with a grossly underpriced stance.
Using a DDM approach(@ an assumed 0% growth to YE) and adjusting for risk, I have a FVE of N43.7 !!

Maybe, just maybe that's why the folks @ Ignite could afford to offer an MTO to existing shareholders @ N66.25.
...a cash consideration which is an over 300% potential ROI from the present mkt price of N16.45 !!

I am however curious on why the current mkt price still pegs 'a far cry'(MoS gap) from the coys present financial state.
That said, one thing is indisputable: With or WITHOUT the proposed MTO, buying FO now can ONLY mean buying into VALUE !!

My advice: Pls kindly follow ur instinct.

This is the type of heart God loves.

May your days be long.

... AND PASS ...

https://www.nairaland.com/3560501/holineness-righteousness-revival-messages-bible/24#81796166

JUST BLOW THE WARNING TRUMPET AND LEAVE THE REST FOR GOD.

Ezekiel 33:3-6 King James Version (KJV)
If when he seeth the sword come upon the land, he blow the trumpet, and warn the people; Then whosoever
heareth the sound of the trumpet, and taketh not warning; if the sword come, and take him away, his blood
shall be upon his own head. He heard the sound of the trumpet, and took not warning; his blood shall be upon
him. But he that taketh warning shall deliver his soul. But if the watchman see the sword come, and blow not
the trumpet, and the people be not warned; if the sword come, and take any person from among them, he is
taken away in his iniquity; but his blood will I require at the watchman's hand.

THOSE THAT TURN MANY TO RIGHTEOUSNESS WILL SHINE LIKE STAR FOREVER, DANIEL 12:4

Maranatha!

Psalm 68:11 King James Version (KJV)
The Lord gave the word: great was the company of those that published it.

JOIN THEM!

WILL YOU

SON/DAUGTHER OF MAN, DON'T BE SELF CENTERED. GOD BROUGHT YOU TO THIS THREAD TO READ
AND PASS THE INFORMATION TO OTHERS.

Ezekiel 33:7-9 King James Version (KJV)
So thou, O son of man, I have set thee a watchman ... ; therefore thou shalt hear the word at my mouth, and
warn them from me. When I say unto the wicked, O wicked man, thou shalt surely die; if thou dost not speak
to warn the wicked from his way, that wicked man shall die in his iniquity; but his blood will I require at thine
hand. Nevertheless, if thou warn the wicked of his way to turn from it; if he do not turn from his way, he shall
die in his iniquity; but thou hast delivered thy soul.

DO THE WORK OF AN EVANGELIST.

Maranatha.

Mcy56:
There is definitely more to this than we know cos they are willing to pay the 66naira.
I think it's better to sell......guess Morgan Capital is one of the houses considered for the purchase i.e. to purchase their clients shares.

Bought some to today before I came across this info, I even called Ogochukwu and she authenticated the information. I feel like picking more on monday

Mcy56:
Sorry sir.
....but you didn't see that man/woman talking filthy trash here o.

God dey see all of una

currentprice:
one more day fall to d share then vuuuuuuuuuuuuum

The share no get name?

Mcy56:

Oga Vee, imagine what?

No! Send in that tongue pls, ...

Mcy56:
Oga Pluto you wan buy?
Have you considered and compared the ROI on this stock with that of Zenith or GT?

... imagine!

Agbalowomeri:
Veecovee UACN is now back to the same level
Do you still want to sell Dangflour to buy it?

... sold some other stock and bought into it few dasys ago @ 5.10. Not know that it could hit 4.55, as it did yesterday. The market hard oooo

... apply it to yourself.

... GOOD ADVICE

https://www.nairaland.com/3560501/holineness-righteousness-revival-messages-bible/24#81726425

... GOOD ADVICE.

Job 5:17-27 New International Version (NIV)
“Blessed is the one whom God corrects; so do not despise the discipline of the Almighty.
For he wounds, but he also binds up; he injures, but his hands also heal. From six calamities
he will rescue you; in seven no harm will touch you. In famine he will deliver you from death,
and in battle from the stroke of the sword. You will be protected from the lash of the tongue,
and need not fear when destruction comes. You will laugh at destruction and famine, and
need not fear the wild animals. For you will have a covenant with the stones of the field, and
the wild animals will be at peace with you. You will know that your tent is secure; you will take
stock of your property and find nothing missing. You will know that your children will be many,
and your descendants like the grass of the earth. You will come to the grave in full vigor, like
sheaves gathered in season. “We have examined this, and it is true. So hear it and apply it to
yourself.”

PAUSE AND PONDER.

Maranatha!

currentprice:
Ekuu Mkt o

Ekuu the stock?

currentprice:
very soon those pple will go on the floor to continue mopping any available fo. if they can paid N66 to buy more . they will buy much more at less tha N20 on the floor. i expect FO to turn to permanent bid soon

hmmm they saw FO fairprice as 66

i saw it before now as 39 for half year so full year with similar performance will give us almost same fairprice

chai! my bedsheet sees well

Na the stock you wan tell us be this

Maranatha!

735i:
http://www.nse.com.ng/Financial_NewsDocs/27414_U_A_C_N__OF_NIGERIA_PLC._CORPORATE_ACTIONS_AUGUST_2019.pdf

Cashflow for UACN

... i c

Imperial logistic increased stake in mds

Goodnews

Confirming the souls of the disciples, and exhorting them to continue in the faith,
and that we must through much tribulation enter into the kingdom of God.
Acts 14:22 King James Version (KJV)

735i:
http://www.nse.com.ng/Financial_NewsDocs/27414_U_A_C_N__OF_NIGERIA_PLC._CORPORATE_ACTIONS_AUGUST_2019.pdf

Cashflow for UACN

... a bit busy, pls who has read this what's it all about

Harvestock01:
Jesus Christ did not get marry, did that signify an end to marriage?

We are discussing of polygamy and not celibacy.

However, the Bible says "if you can be able to stay alone and not lust, you should go on and stay unmarried"

Agbalowomeri:
Kai I no know say u be olodo like this
Stop saying what you don't know Lol

Why not correct me immediately here?

Agbalowomeri:
So Pa Abraham, alagba David and guyman Solomon are languishing in hell according to your theory?

megamart247:
Really but Abraham which you acknowledge as the father of faith and as well claim his blessings are yours had atleast two wives and several concubines.

They were not Christians my dear.

Beside, God just allowed that during their own dispensation, so that his son would have something to correct us of.

Mark 10:6-8 New International Version (NIV)
“But at the beginning of creation God ‘made them male and female.' ‘For this reason a man will leave his father and
mother and be united to his wife, and the two will become one flesh.’ So they are no longer two, but one flesh.

SIRS, 3 CAN NOT BE ONE!

Besides God has right to change the hand of the clock ... cause HE owns everything . HE did not only stop polygamy,
Through HIS SON Jesus Christ, HE also stoped animal sacrifices.

1 Timothy 3:2 King James Version (KJV)
A bishop then must be blameless, the husband of one wife, vigilant, sober, of good behaviour, given to hospitality, apt to teach;

1 Timothy 3:12 King James Version (KJV)
Let the deacons be the husbands of one wife, ruling their children and their own houses well.

IF YOUR BISHOP AND DEACON THAT TEACH YOU MARRY ONE WIFE, SHOULD MARRY MORE

Shalom!

BE STRONG AND COURAGEOUS, ... SURELY YOU'LL OVERCOME.

https://www.nairaland.com/3560501/holineness-righteousness-revival-messages-bible/24#81628884

Think how you have instructed many, how you have strengthened feeble hands.
Your words have supported those who stumbled; you have strengthened faltering
knees. But now trouble comes to you, and you are discouraged; it strikes you, and
you are dismayed. Should not your piety be your confidence and your blameless
ways your hope? “Consider now: Who, being innocent, has ever perished? Where
were the upright ever destroyed? Job 4:3-7 New International Version (NIV)

BE STRONG AND COURAGEOUS, ...SURELY YOU'LL OVERCOME.

Encourage those passing through test of faith.

MARANATHA.

DeRuggedProf:
Agba! Agba!! Agba!!!

When VCV tell you polygamy is not for children, you disregard such wisdom.

Now your Accra roof is on fire, while you are in Lagos....

Polygamy is suicidal, both in this life, and in the life after this.

Though, they don't marry in the life after this, however, whatever you do in this life will affect you over there.

JESUS OUR LORD SAID "OCCUPY TILL I COME." AS YOU OCCUPY THE POSITIONS OF PASTOR, EVANGELIST, CHURCH MEMBER, ETC.

MAKE SURE YOU ARE ON THE CORRECT "DUTY POST," WHICH IS TO FEAR GOD AND KEEPING HIS COMMANDMENT.

DON'T "OCCUPY" A POSITION IN A WRONG "DUTY POST" ... DON'T BE A PASTOR, EVANGELIST, CHURCH MEMBER, ETC; WHO DO NOT FEAR GOD, AND KEEP HIS WORD.

OUR "DUTY POST" IS TO FEAR GOD AND KEEP HIS WORD/ COMMANDMENTS.

SHALOM!