₦airaland Forum

Iwerebor:
I didn't subscribe for Dangote Sugar but I heard the Share certificate was out fast. Something tells me that the proposed less than two week period of sale of Dangote Flour would mean a quick release of certificates.
Can anyone remind me of how long it took DSR to release their certificate?

You heard wrongly!!!! For those that subscribed for anything above 50,000, the registrar is just despatching such certificates now. Some went to the registrars office to PERSONALLY pick up their certificates. Most are yet to verify them.

If you go for any offer, no that you are in it for the LONG TERM or else you will get your fingers burnt!

Atam-Man:
@ Wanajo,
Abeg, why do you say we should have a look at Nigerian German and M & B? What is your take on the promptness with which the NSE lifted the technical suspension on FBN? Thanks Man!

Nigerian German is undervalued. Price is coming down because of the 45k dividend without any bonus which seems not to meet the expectation of some people. But it is a company set for growth. See it bottom out and make a rush for it.

May and Baker is teh best in its sector right now. Their Bio Vaccine investment should start to yield money from next year. The dividend declared this year was not encouraging (30k). But expect them to make akill from teh bio vaccine factory. Note this is for the long term (not speculation).

As per FBN, I expect the suspension to be lifted within the next six weeks MAXIMUM. A lot depend on the result that they are going to declare. If it is only dividend, then teh technical suspension may be lifted way after the release of teh result.

However, if the result will include a bonus, I expect them to lift the suspension before the release of teh result. Whatever happens, the result must be out before the end of August!

enolase:
You should have bought this stock during their private placement which ended two weeks ago prior to listing. You will have to be a real hunter to track down and get this stock on the exchange as it will be scarce for some time to come.

Why? Those who presently have it will not be willing to sell!

It's a good buy though, if you can get it now.

Even if you did you will be making paper profit!

Your certificate will still be nowhere to be found. When it is finally sent to you you will have to verify and lodge it in CSCS. Most often those trades are cross deals, merging of accounts and consolidation of holdings just to jerk up the price.

People with short term view of the market will get heart attack looking at potential 'gains' that they've missed. If I am you, I will close my eyes to them!

the funny thing is that most of the insurance companies actually have their offers serious undersubscribed!!!! I know a re insurance company that did an offer at 85k and it was to have closed in Sept 2006. Now there asking me to come and buy at 95k prior to their listing! Why? It was undersubsribed and they needed money. Once I buy, it will be listed on teh NSE in a couple of weeks with teh pricegaining 5% everyday whereas no one has received the certificate yet!

IGI did a private placement about 12 months ago but no certificate yet! For all you know it was undersubscribed! let it get listed now and see what will ahppen!

Iwerebor:
Thanks Easimoni.
Perhaps FBN is not the stock to pick for a three month time frame which is already counting. 2 Months before it's lifted and I was thinking mid august max! I can't possibly expect FBN to fly to the 50 naira mark I am aiming in one month.
Now what am I to do? I know next to nothing about picking stocks, was staking on FBN because of their pedigree.

Good investors here: how would you go about making 200k out of 800k plus in a three month time frame?

IF you can get First Bank to buy on the floor then you will make your 25% on your returns easily!!!!!!! That you can take to the bank.

However, if you are willing to stay for 1 year, 40% return on Nigerian German and May and Baker once the price bottoms out is achievable.

For those raving about insuarnce stocks, be careful!!!! The ones gaining price are the newly listed stocks with minimal trade on them. For example, no trade on Guinea Insurance today. Equity insurance traded only 15,000 units. On paper you can think of making gains. Reality is that you will not get those shares to buy until the supply has increased and the room for increase is reduced.

I believe in fundamentals. You can hardly go wrong. Look for undervalued stocks with growth prospect and have a medium term outlook. Most started investing on the NSE during the bullish run. It is not always like that and it will not continue to be like that. There will be correction at a point. Those with fundamentally sound stocks will be the ones to make profit or survive when (not if) the bears appear!

rowlandwhy:
ALL,
Thanks for your response.

I contacted the guy during the weekend and he said that the guy waited for 3 months to be summoned by the bank but nothing happened.
So he now cashed some of the money and transferred some into another account number.
Am still confused because he is giving me authentic confirmation the people living around the guy is confirming it too till date nothing has happened to the guy.
I still de wonder if na drug barons transfer that kain money from mexico!!!

The story is more like a fiction. You don't transfer 300m to an account without an alarm. NDLEA, CBN etc will need to be notified. No way such an amount will enter an account and stay that long. Transferring to another account does not help because he can still be traced.

Hope your freind is not using an excuse to justify or explain his new found status! Query him more as to the source of his money!

egoldman:
In this case your broker had your account number and also the account number of the real person he wants to pay the money to ,so its possible that he paid to your supposing that u are the other person, but the issue here is that it was paid to a supposed unknown account , which the person who paid the money did not even know the account number or the name of the wrong person that he paid into , that is very rare in my own opinion , but when its an inhouse thing , then we can't say it was paid by mistake .

Like I siad, it is most likely a posting error. Postings are normally done with account numbers. Not always do they confirm that the number and teh name are the same.

Also, it is possible that the person making the payment was the one that made a mistake in the deposit slip filling a wrong account number.

Yes the error will finally be detected considering the amount involved.

egoldman:
Most likely to be a lie , forget his so called life style , do u think that bank accounts numbers are that close to each other , i mean if my bank account number is 000523523891 , do u think someones account number nin the same bank should be something like this 000523523892 ? no thats not how this numbers are issued to the best of my knowledge , and even when the numbers are that close , what about the names ? and when suddenly out of the blue 300 millions came into the account of someone that may not have up to 10 million , don't you think the bank itself might try to contact efcc as per the rules ?

Quite possible for such a POSTING error to be made.

Have had a situation where my Broker purportedly paid a substantial amount of money into my account. The money was tehre for over a week while I tried to unravel the mystery behind the payment.

Many things can be responsible but I suspect posting error. The bank will discover with time.

nossycheek:
@Wanaj0

which one is Trans Express? What section can I find it?

As for NBC, I don't think it's a good buy

Trans Express is in Commercial Services. It is a courier company. Not a liquid stock though. However, note that Redstar Express did a private placement at about 4.00. The good thing is that Trans Express is undervalued. Even if you can get a little now, you will then be entitled to the planned RIGHTS! That to me is a good opportunity.

As per NBC, just check the Q1 result. Check the Abuja plant. You are buying based on expected future performance

easimoni:
@ Wanaj0,
Yup, I noticed BETA slowed down a tad today. First time in almost 2 weeks it didn't gain 5%.

NBC & M&B: a bit pricey for me. Both have PEs in the 40s. I know they have long-term potential but in this market, patience is not my virtue (I confess )

Okay, no UACN!

What you have is a trailing or historical PE. When you buy you are buying into the future. Check the Q1 PE of NBC and the profit forecast for May and Baker. I tend to take positions before the market recognises the value. Nigerian German is also not a bad buy in terms of fundamentals

easimoni:
Back to the topic this thread was created for; recommending shares for our peeps. I'm thinking about Julius Berger and UACN. Both companies are trading at PEs ~ 15; about half of the average bank. Problem is they both have very low growth rates so a price explosion is not likely. What do the gurus think and what alternatives (outside of banks) are there?

BTW, Wanaj0, thanks for the BETA Glass tip.

You should jump out from BETA Glass now.

Look for May and Baker. They are well positioned for growth

NBC is another one worth considering.

Also check out the insurance stocks.

UACN, don't be carried away by the PE. It is distorted by the exceptional income that they have. UACN being making money from selling assets!!!!! Mr BIGGS is facing many competition so no longer a major player. Yet to see where the ACTIS investment is going in to. For me, a no no.

If you can, go for TransNationwide Express. They will be doing a rights offer soon. You can potentially make a kill with that.

frankiriri:
I think you have the wrong thread. The comment was posted on the ' stock market tips for Nigerians'
That notwithsatnding you have a point there. A lot of people are all noise and no action.
I have however made up my mind to push ahead whether or not people join me in this race for the future.

Frankiriri, be encouraged in your drive. I beleive it will work well.

I belong to anotehr investment club. We have only 7 members. We incorporated it as a company because of teh long procedure of incorporating a club. We contribute 50k monthly. Started almost two years ago. Missed only one months contribution since we started.

I joined the investment club basically to provide others opportunity to learn. It was a way of introducing people to investment.

Yes there are problems with manging temperament, risk profile etc. However, it is always good if it is made up of friends who will not allow money to destroy the friendship.

RoughCut:
Brazil is the biggest producer of ethanol fuel from sugarcane infact 60% of all the vehicles in Brazil run on ethanol feul and recently NNPC renewable section has entered into an agreement with Brazil to import ethanol fuel apparently there is a directive that in the next few years the petrol  must have 10% ethanol so i guess this will put a lot of pressure on sugarcane production in Brazil. There are 29000 filling stations in nigeria according to reports that have been kitted out to sell ethanol fuel so its all happening so not sure what effect this will have on DSR

No major impact. If Sugarcane becomes scarce, refined sugar also will become scarce. Hence you will see an increase in the cost of refined sugar with DSR margins remain almost fixed. Reason is simple, no alternative yet to sugar.

That said, DSR is setting up plantation for Sugar cane.

cheexy:
Yes it is. I got mine a month ago but there is a delay in verifying the certificate as zenith registrars is stalling with the excuse that "they are verifying signatures".It is just a plot to ensure that the price doesn't dip and too many people don't sell too many shares. If you have not seen your certificate, then go to zenith registrars.

@all,
What do you think about ABC transport, GREIF and GTB?

GTB yes but not above 30.00 in my opinion.

cheexy:
@All,
My strategy is to chill for zenith bank to issue to rumoured bonus afterwhich the price will be adjusted. If they don't issue the expected bonus, people will drop it like it is hot! GTB seems cool but i will wait a bit because once the FBN offer draws to an end and dangote flour comes out, people will offload and prices will come crashing (except the PFAs aka money miss road come in). May and Baker and Japaul seem good for medium term. May and Baker because of the vaccine thing and Japaul because they will float a public offer in september (naija lo wa, if you get my drift) and they are the only quoted company in the maritime subsector. Please what do you guys think of ABC transport and GREIF?

A lot has to do with personality and your risk tolerance level.

Rumours are that FBN will be oversubscribed and will hit 70.00!!! Learnt that they've already raked in N80bn without returns from Broker.s So a 200% subscription (N200Bn) is possible. If that is the case, price of First Bank will hit the roof.

Diamond seems over priced. However, if they declare bonus and come again for offer, the Oceanic impact may likely re occur. Anyway expect Diamond to reach 25.00.

Wema Bank is another good one but very risky. YE 2006 audited result is not yet out (unadited result now on their website). If they meet the YE March 2007 forecast, then the price should be in the 15.00 range. With little government holding, they are set for great things if they can get their acts together. They may also go for an offer because they are currently one of the smallest banks.

May and Baker, good for the Medium term. The 2006 result was way below the forecast as contained in the prospectus for the PO. However, they seems to be on to good things once the Bio Vaccine starts production.

WAPCO is still fairly valued in the Cement sector.

Trans Express, if you EVER get it to buy may be a penny stock that might skyrocket soon.

Oando is looking riskier everyday. Just check out how many OandO shares they are planning to issue to Ocean and Oil!!!! Will wait for their restructuring before taken positions. Moreover, petroleum marketing is a no go area until they deregulate the sector.

GTB does not 'jerk' up its price in readiness for offer so will not take position based on an impending offer. However, GTB at 30.00 is not bad. It is worth going for.

windywendy:
Thanks Wanaj0, this is good info. You're right, N10b cash is a lot of money. One wonders however why they would be sitting on that kind of money instead of putting it to work for them, especially with a lot of competition entering their space.

Didn't know that wapco is now Lafarge wapco.

There was actually a time that Ashaka declared dividend of 232k per share. The explanation then was because of the huge reserves and devaluation of Naira may erode the value. CAP PLC also paid special dvidend this year of 200k per share.

My beef with Ashaka is always why don't you use the money for expansion instead of putting it in intesret bearing account. You hardly hear ashaking doing any offer just because of this huge reserve. I know at a point they drew down on the reserve for e new kiln or something of that nature.

http://www.lafargewapco.com/

That shows you the change by Wapco. No website yet for Ashaka.

windywendy:
@ wanaj0: are you sure about the merger rumors (anyways, you've said they're rumors . . .). It does sound interesting! So what will the new company be called and which one will remain quoted? Also, is the 20% expansion for the merged company or just for ashaka?

About the cash reserves, N1b does not sound like a lot of money for a very capital intensive business like cement manufacturing. That's less than $8m. Can it really finance any major expansion?

As per the energy source, remember that obajana generates its own source of energy. Is Ashaka's cheaper than obajana's? Also assuming the coal is a cost advantage, then why did profit dip in FY2006 even though turnover increased?

If you have answers to the above questions please share, i'll also be taking a close look at ashaka to see if it'll make an interesting investment.

Na rumour so you can never be sure. It sounds plausible though. WAPCo is now Lafarge WAPCo. They can do the same with Ashaka and combine their businesses. Then Lafarge will be the one quoted I assume.

Obajana uses gas. Ashaka uses coal. Coal is cheaper than gas.

As per the cash reserves, N1bn was only the interest income!!!!!! At a conservative 10% interest rate that is about N10bn cash!!!!!! That's not small money.

Not seeing there full report so cannot explain why the profit dropped. A number of things can be responsible. Pension fund liability? Deferred tax payment? Major capital investment for expansion etc. So until the details are out, it will be too early to make a final call.

What I know however is that in terms of competition, Ashaka is not well placed due to limited capacity.

windywendy:
I did not invest in Ashaka, but for those who did, now would be the perfect time to start thinking of selling. For a company that's not expanding and in whose market more competitors with deep pockets are entering (think flour mills and obajana and I also read of a greek company -- don't remember their name now -- thinking of entering that cement manufacturing space), I think their market share is seriously threatened. Unless they have solid plans to expand in the really near future, I expect their performance would deteriorate over the near term. Selling when the price peaks (i.e. before being marked down for bonus and dividend) would be a good deal, as the price rise might continue due to bonus sentiments.

The bonus shares will increase the number of shares outstanding. This means that even if they maintain Profit at the current level, earnings per share would be lower. However in a situation where profit is already dipping, it's an even worse state of affairs. So please get out before you get stuck and start biting your fingers . . . (unless of course the company comes out with some solid plan to stay competitive in the new dispensation)

Well, there are other alternatives. There are rumours that Lafarge will merge WAPCO and Ashaka together. There are rumours of a 20% expansion plan.

There are two things that still make Ashaka attractive. One is the huge cash reserve. There interest income for 2005 was like N1Bn!!!! That means funds to fund any expansion plan will not be a problem.

Secondly, they seem to ahve the cheapest source of energy in coal. Remember that energy is the greatest cost contributor in cement production.

windywendy:
Hey Easimoni and Wanaj0, are you investing? If yes, can you tell us what you like about the company? I'm still open to investing if I find a compelling reason to

Planning to invest. Hope to still bump one or two questions to the CEO.

For me, main proposition is the fact that they are the first to start so will have an advantage.

For the competition, my understanding is that it is being promoted by UBA. If that is the case the bureau is not that independent. Accenture is just a consultant to them and nothing more. Personally, anything that involves UBA (Tony/Hakeem), I try to avoid it.

There is nothing that says in a place like Nigeria that we cannot have more than two bureaus.

Yes it is risky (every start up business is). But it worth the risk with the banks that have subscribed to them.

Will invest the minimum which is like the maximum that I can afford to lose.

It is not a capital intensive venture. It is driven by technology so roll out and expenasion should not be an issue.

This is what I got from the CEO of CR

Dear XXXXXX:

>>>
You asked: What is the nature of the investment of the banks in the
credit
bureau?
<<<

I assume you are referring to some banks' investment in the CRC. If so,
I
would assume that the nature of their investment is both for capital
appreciation and to utilize the services that would eventually be
provided
by the CRC.

>>>
You stated/asked: It is a bit confusing that the same banks will invest
in
two different companies in competition with one another?
>>>

Well, a bank may choose to hedge its bet. And some banks understand
that
Nigeria can accommodate more than one credit bureau and choose to
invest in
both.

>>>
If the banks did not form CRC then how are they investors in CRC?
<<<

They are investors in the same way that CreditRegistry is inviting some
banks to invest in it. I urge you, however, to use your own sources to
find
out the origin of the CRC - as I have already mentioned it was promoted
by
UBA with Accenture's assistance. In order to gain credibility they
needed to
bring other banks on board since a bank does not a credit bureau make.
Note
that in their situation other banks may be suspicious that it is a
UBA-owned
credit bureau, a situation that does not arise with our credit bureau
which
is an independent credit bureau.

>>>
What nature of investment are you expecting them to have in CR
registry?
<<<

Frankly, it is not critically important that banks invest in
CreditRegistry
although we did send investment invitation to banks and other
institutional
and private investors. In developed economies credit bureaus are
independent
of banks to avoid conflict of interest issues. Another reason why
CreditRegistry in particular does not want banks to dominate its equity
shareholding is because it is NOT in the best interest of private
investors
like you; if banks dominate they may attempt to control/reduce the
pricing
of our products because they are initially the largest consumers of our
products and services - this means that CreditRegistry may be unable to
optimize revenue/profits/dividends.

Also, banks and creditors are particularly interested in obtaining
information that would assist them in making informed credit granting
decisions regarding prospective borrowers; therefore they will utilize
our
services whether or not they invest as long our credit reports and
credit
scores effectively assist them in achieving their risk management
objectives. There are banks that will subscribe to our services but may
not
subscribe to the CRC, and possibly vice versa. Therefore, to obtain
universal data coverage, virtually all banks may have to utilize both
credit
bureaus as happens in other markets where there are more than once
credit
bureau.

One key CreditRegistry advantage is that we are currently the only
credit
bureau in the world with a tested and proven consumer identification
platform based on fingerprint and facial recognition. With Nigeria
lacking
any reliable or robust national ID system virtually all banks will need
to
use our services in the foreseeable future. Our head start in this area
is a
critical advantage and we are definitely passionate and committed to
innovating beyond the traditional ways of doing things.

It is my hope that the preceding have addressed your questions and
concerns.
If not, it would be my pleasure to expound on areas that you need
clarification on.

Best regards!

Taiwo Ayedun | Chief Executive Officer | CreditRegistry Corporation |
+1
(425) 269-5005
Nigeria: +234 (1) 818-4775 (Office) | +234 (1) 776-9587 (Direct) | +234
(803) 330-1552 (Mobile)
Web: http://www.creditregistry.com | Email: taiwoa@creditregistry.com

easimoni:
Oh, and kudos to you analysts who recommended May & Baker on this and other threads. 108% increase in PAT. (and the price dropped, what's going on in that market?) I'll see if my broker can lay his hands on some.

Yes, May and Baker had a 108% increase in PAT but what you did not take into consideration was that they missed their profit and dividend forecast as contained in the PO prospectus. Profit was to be in the N400m range. Dividend was to be 35k

Would advice that you allow the share to bottom out then buy. The prospect looks good for as long as NAFDAC is still in operation. Hopefully by 2008, the benefit of the investment in the Bio Vaccine factory should become evident.

easimoni:
@ All,
On page 41 of this thread, I posted an article about the drop of Ashaka Cement and inlcuded a link to a proshare article where some analyst "predicted" (in hindsight) that the downward trend was obvious.

Anyway, I bring it up because Ashaka's FY result was released today and earnings are down 24%. The EPS is now 2.31 and PE is 35. For some reason, the price still rose 5% today. I think that downward trend from 2 weeks ago was due to some insiders privy to the results dumping some shares.

Thank God I bough WAPCO instead, but I'm beginning to doubt the Cement thing. Too many companies!

Does anyone know why Ashaka's earnings dropped and should we be worried about all the Cement companies (esp. with one eye on Obajana)?

Price rose because of the dividend 150k and 1 for 6 bonus. Ashaka has a lot of cash in its reserves so is able to make dividend paymen t even if it makes a loss. My major concern is lack of any expansion plan. There was talk of a 20% expansion plan. For a while ASHAKA has not being growing its sales. Turnover was only increasing slightly due to price increases. Actually, volumes was on the decline.

WAPCO holds the best value out of all the cement companies. However, with no bonus in sight, I do not expect such huge capital gain. Moreover, WAPCO does not seem to qualify as a stock that the PFA's can invest in.

joshO:
Is this the same as this http://odili.net/news/source/2007/jun/22/608.html or a competitor ?

If it's a competitor, then can't be cheering news for CR and their Private Placement!

It is a competitor. The competitor is being promoted by UBA with Accenture as the consultant. It is not TRUE that the other banks are promoters. They will likely just sign on with them. Moreover, they will not be on teh ground till next year according to my sources.

I still believe that CR should have the headstart. It however depend on how efficient they are. I hope the management is savvy enough.

dollyp1cute:
@easimoni
They have not sent me any daily update and as yet have not responded to my queries regarding some stock i bought from them.

@All
Which bank is FSDH linked to, I want to transfer to them?

FSDH has strong links with UBA

easimoni:
He claims the stock has "support" at N66 and N68. He does not expect the price to drop below those numbers. You pointed out the problem with TA. It's always correct in hindsight.

On another note, why is the market dropping like a rock?

Many reasons.

Firstly people are booking profit. Astute investors always try to lock in profits.

Secondly some are selling to fund the First Bank IPO. This week is the closing date.

Well, thsi should be temporary because the Pension Fund money should be hitting the market soon thus driving the price further up.

Relatively, most stocks are over priced so there will definitely be a correction. How soon this will be depends on alternative invvestment options that are available.

easimoni:
@ All,

You need to read a new proshare article on the precipitous drop of Ashaka Cement. Some people might have inside info on this stock and may be dumping it en masse.

http://www.proshareng.com/myproshare/portal_articles.php?id=1132

While it is true that you can get insider news, the analysis like most technical analysis that the man does are based on hindsight. Why didn't he say before now that Ashaka will drop? Based on his analysis, what is the conclusion? He is saying that we will have to wait to know whether the price will drop further!!!!!

Well how do you evaluate a company with little history. You are only buying potential. Preference shares for that matter with little exit plan.

Based on projections, yes they have a good business plan. They have promising projections. If targets are met then they are seriously undervalued.

However, there are other issues to consider. Firstly it will affect my liquidity. Will be tying down a lot of money if things don't go well. Secondly the promoters have little to lose. Most got their shareholding in kind!!!!! So, if things don't go well, they just move on. Thirdly there is no track record. Not sure the promoters have run any business in Nigeria before. How prepared are they for the Nigerioan environment.

That siad, for high risk investors who are ready to forego capital appreciation then it is worth considering.

If you can, BUY. It is selling at a discount!

frankiriri:
Yeah, Let 's do just that because I don't see us coming to any agreement on this. We definitely went to different schools of accounting and must have been thot differnt definitions of merger and acquisition. I rest my case.
On the First Bank PO I consider it a must buy for any one interested in long term returns.

No ill feelings. We can always agree to disagree. Hope you will attend the EGM?

On First Bank IPO, if you are not an agressive investor go for First Bank IPO. The returns will be moderate. For agressive investors, looking for capital excellent appreciation, you may have to allow it to pass.

frankiriri:
Pally you are not saying anything.
I know how mergers work. The link you provided does not support your position. You are just venting your beef for the ocean aznd oil guys.
I have incorporated a company and I am a chartered accountant with over 9 years of audit and accounting experience so I know what I am saying.
Get your facts ( and theory) straight before posting on a public forum. Please tell me where I will get such write up to read.
I do know how mergers are done and I can say that from the information you have provided there is no basis for your claims.
Ocean and oil bought into unipetrol as a core investor with a 30% stake. they then used that to get Agip and merged both firmsn to get OANDO. From the link you provided it is evident that EGM is going to be held to get the other share holders to endorse the share exchange scheme , in no part of that link was it mentioned that the shares to be exchanged would be that of Ocean and oil.
Pally, be guided.

Maybe you need to go back and read the thread all over again. I started talking about Oando's plans before posting the link you alluded to. The link was just to show that the information is now in the open.

Yes Oando will call an EGM. I await how many shareholders will get the notice before the EGM.

Sorry, I don't have any beef with the Oando guys. I just put things in perspective.

If you wnat to read more about Ocean and Oil, go to their website. If you want to know about the dealings of Oando, well find out about Gaslink and how the promoter was shoved aside. Find out why one of them left for the petrochemical plant.

As per your being an accountant, congratulation. For your info, I was already in Pricewaterhouse as far back as 1994. That was 13 years ago!!!!! I was doing audit and business advisory services!

If you don't know that it is Ocean and Oil shares that would be exchanged then you need to go and look at the shareholding of the OandO subsidiaries!

frankiriri:
@ wanajo
If Ocean and Oil did not pay for their shares then how did they get control. Stop firing like a loose canon. You could be sued for libel

If you know how companies are started, you will not say what you are saying.

What does it cost to incorporate a company? Those companies were incorporated with OandO and Ocean and Oil as shareholders (except gaslink).

Go and read more about Ocean and Oil and its subsidiaries and how they are milking OandO dry!!!!!!!!!

If you know how mergers and acqusitions work and how you consolidate your holdings then you will know what OandO is up to.

Right now, Oando has less then 600m oustanding shares. Check how many they are about giving to Ocean and Oil now in exchange for Ocean and Oil holdings in the subsidiaries?

Ask for how Ocean and Oil became share holders in such subsidiaries.

Ask for why the former Head of strategy at OandO left.

Go and find out how Lenux oil became core investor in Eternal oil.

Read the prospectus and see how Lenux will be taking their rights without paying a dime!!!!!

Sorry, I don't agin anything by misinforming people. If you are not clear, kindly ask!

allboyz:
@Wanajo,thanks,but i have an account wit them,i could remember that they only gave me a form to fill the day i was to buy the shares and that was all.

on the form,they only requested for ny name,next of kin and amount of units,that's all.

so do i need to go to them now for the dividend warant?,

You have account with who?

Oceanic bank is in principle not responsible for paying you the dividend. Once declared, it is the duty of the registrar. First Bank is their registrar so that is there duty. Whatever the problem, see the registrar. They will be able to tell you if they've sent the waarant. If you've filled a form requesting for the dividend to be paid directly into your account, they will also let you know whether they've done that.

allboyz:
@Hbrednic,

Thanks 4 your info,but when i get to their office,how do i get my dividend warrant?do i need a account wit them? or will they give me cash?or what is it like?

Plzz respond,thanks

First Registrars is theie registrar if it hs not changed. Go there (by 8.00am if possible) and you will be given a dividend warrant. This is like a cheque that you need to pay into your bank account.

toyibanj:
Wanaj0
Thanks fo your insight in this Oando issue. I also almost bought their shares a few days ago without knowledge of this restructuring. It certainly pay to research before buying. It seems there are many knowledgable people on nairaland. Can i have your private email as i'm sure i can learn from you. Mine is tbanjoko@hotmail.com .

My e-mail address is ade_aoa@yahoo.com

Please, I ahve not said that you should not buy OandO. I have only highlighted the risk associated with that decision. Put this way, OandO is one of teh best petroleum marketing companies out there. However, looking at the market and the economy as a whole, the petroleum marketing companies is not the best place to invest.