omaojo1: FTN Cocoa http://www.proshareng.com/news/24329

Plus a report from meristem puts the valuation at N1.18. The valuation was done by PAC capital and got KPMG's fairness approval.

Just read the proshare article and saw the advert. The resolution has not yet been passed, or has it? It will most likely however be passed.
On seeing such news, I wonder why the investors just did not bother to mop up the shares of the company that have been on offer since March at 50k to start with. I guess they would rather just pay 75k for each share. There is this story about the servant of a man who sold monkeys to villagers and told them his boss will be back shortly to buy them back ....
full disclosure: I do not own shares in ftn cocoa.

ihedioramma: Is skye going to buy mainstreet? why did you say so, is there any thing wrong with access?.

Sir, I hope the above is what you were trying to ask as your post was a bit unclear
Apologies, I meant to say Enterprise Bank not Mainstreet. I read this a few weeks back, and from what has been published recently, AMCON hope to conclude the sale of the two banks by the 15th of Sept.
http://www.punchng.com/business/business-economy/skye-bank-four-others-compete-for-enterprise-bank/

I am not aware that anything is wrong with Access

feelamong:

Am happy we all dey see am now...anytime wey dead cat bounce people go begin happy..

my only vex with this bear be say e no sabi bite the kind stocks wey I dey eye...APR, WAPCO, FIDSON, CUSTODY, 7UP.....

i feel unhappy with d bear for its reluctance or snubbing of some great stocks as well.Bear is doing partial,ok o.

passwelle:

Just read the proshare article and saw the advert. The resolution has not yet been passed, or has it? It will most likely however be passed.
On seeing such news, I wonder why the investors just did not bother to mop up the shares of the company that have been on offer since March at 50k to start with. I guess they would rather just pay 75k for each share. There is this story about the servant of a man who sold monkeys to villagers and told them his boss will be back shortly to buy them back ....
full disclosure: I do not own shares in ftn cocoa.

The AGM was held yesterday in Ibadan. I no know wetin Mercy, Jamace and co the do wey them no attend o.

Born2berich:

Thank you my brother for this your supportive post.

This is enough prove that the word of God shall always come to past. As for those that dont believe, well the ball is in your court.

My own was to pass the message then.

Wetin i know.

@omaojo1 thanks bro, you too much

Welcome boss.

Just sent the the explanatory notes to reslutions for aproval at yesterday's AGM for your perusal.


Tried attaching it here without success

omaojo1:

Welcome boss.

Just sent the the explanatory notes to reslutions for aproval at yesterday's AGM for your perusal.


Tried attaching it here without success

guy abeg, copy n paste here, or just give us d highlights.

any news on golden breweries? dt onedon leave car park. hope still dey for multiverse, daar n iaa.

breaking news; union / mainstreet bank has been sold to a foreign investor.

dt one no concern me shaaa.

mercylicious: breaking news; union / mainstreet bank has been sold to a foreign investor.

dt one no concern me shaaa.

Union bank ke? Thought Bob just increased their holding to c. 30%. I was actually going to comment on how this didnt get announced through the NSE first unlike the Kunoch Holdings deal in Diamond.
http://businessdayonline.com/2014/09/atlas-mara-buys-stake-in-union-bank-for-270-million/#.VAm6XflkREJ

For those with positions in Guinness
N3.20 k dividend
http://www.nse.com.ng/Financial_NewsDocs/7358_GUINNESS_NIGERIA_AUDITED_JUNE_2014_FINANCIAL_STATEMENTS_SEPTEMBER_2014.pdf

passwelle:
Union bank ke? Thought Bob just increased their holding to c. 30%. I was actually going to comment on how this didnt get announced through the NSE first unlike the Kunoch Holdings deal in Diamond.
http://businessdayonline.com/2014/09/atlas-mara-buys-stake-in-union-bank-for-270-million/#.VAm6XflkREJ

Deals involving African Capital Alliance are some of the most silent bruv.

Dexterax:

Deals involving African Capital Alliance are some of the most silent bruv.

ACA could do a sweetheart deal on your commercial real estate asset and you probably get to find out about it 365 days later.

And all 100% legit.

Dexterax:

ACA could do a sweetheart deal on your commercial real estate asset and you probably get to find out about it 365 days later.

And all 100% legit.

Dexterax:

ACA could do a sweetheart deal on your commercial real estate asset and you probably get to find out about it 365 days later.

And all 100% legit.

If the stalwarts on the board of ACA are getting in bed with Bob Diamond, then honestly interesting times are here.

mercylicious:

guy abeg, copy n paste here, or just give us d highlights.

40% shares of the coy will be allotted to TCGL for atleast 75 kobo.

If the above is approved, a five year off take agreement will come in to effect where TCGL will buy 20,000 mt of FTN's processed or raw cocoa. Cosidering the fact that the installed capacity for FTN is 20,000 mt, the coy has a guaranteed mkt for its product in the next five yrs.

The consideration for the allotment is atleast 1.1bn naira and will come in form of in-kind services, factory upgrades, provision of equipment, technical and sales support.

The projected PBT for 2015 1.8bn naira.

The highlights Ma...

nitrogen:

Nitrogen you no go kee me!

That's for emphasis oh. Quote me at your own risk.

nsempa is getting so informative these days.
Am getting addicted.

We are making money this year
.
@Dexter, have been declared wanted at the sister forum. Guess u hv endeared urself to their hearts with ur incisive, stimulating and correlation co-efficients
.

omaojo1:
40% shares of the coy will be allotted to TCGL for atleast 75 kobo.
If the above is approved, a five year off take agreement will come in to effect where TCGL will buy 20,000 mt of FTN's processed or raw cocoa. Cosidering the fact that the installed capacity for FTN is 20,000 mt, the coy has a guaranteed mkt for its product in the next five yrs.

I am just playing devils advocate here. As in all transactions on the NSE there is money to be made.
Sir, any idea if AMCON had any representation at the meeting? Why doesnt AMCON just sell the 13% they own in the company to TCGL at that 75k instead of further dilution of the OS? Just wondering why the folks who sold the 56m plus shares today are all not aware of this. The last breakdown of shareholding in the company puts the number of shareholders at about 5877, with 4,305 of these shareholders owning just 52.8m shares. Also, did Meristem disclose that they own more than 47m shares in this company when they published that valuation? Whose approval is required now after the meeting?
I hope time proves me wrong on this FTN cocoa thing though .
http://www.nse.com.ng/Financial_NewsDocs/6572_FTN_COCOA_AUDITED_DEC_2013_FINANCIAL_STATEMENTS_JULY_2014.pdf
http://thenationonlineng.net/new/amcon-acquires-second-biggest-equity-in-ftn-cocoa-processors/

mercylicious:
@Dexter, have been declared wanted at the sister forum. Guess u hv endeared urself to their hearts with ur incisive, stimulating and correlation co-efficients
.

Mercy I was actually surprised. I consider myself a small boy where those men are oh.

passwelle:
I am just playing devils advocate here. As in all transactions on the NSE there is money to be made.
Sir, any idea if AMCON had any representation at the meeting? Why doesnt AMCON just sell the 13% they own in the company to TCGL at that 75k instead of further dilution of the OS? Just wondering why the folks who sold the 56m plus shares today are all not aware of this. The last breakdown of shareholding in the company puts the number of shareholders at about 5877, with 4,305 of these shareholders owning just 52.8m shares. Also, did Meristem disclose that they own more than 47m shares in this company when they published that valuation? Whose approval is required now after the meeting?
I hope time proves me wrong, on this FTN cocoa thing though.

Hmmm. These are serious considerations.

Bruv I think what you mean by the bolded is that more than 56m shares EXCHANGED HANDS, not sold right?

Dexterax:

Hmmm. These are serious considerations.

Bruv I think what you mean by the bolded is that more than 56m shares EXCHANGED HANDS, not sold right?

Yup, meant exchanged hands

QATARI BANK ACQUIRES 12.5 % stake in ecobank..... source trw - stoxkbrockers wordpress.

mercylicious: QATARI BANK ACQUIRES 12.5 % stakw in ecobank..... source trw - stoxkbrockers wordpress.

The Public Investment Corporation of South Africa is the largest shareholder in Ecobank. Now these Gulf dudes have become the second largest. I hope these big guys don't paralyze crucial decision-making processes at ETI.

That's probably going to be biggest challenge going forward.

passwelle:
I am just playing devils advocate here. As in all transactions on the NSE there is money to be made.
Sir, any idea if AMCON had any representation at the meeting? Why doesnt AMCON just sell the 13% they own in the company to TCGL at that 75k instead of further dilution of the OS? Just wondering why the folks who sold the 56m plus shares today are all not aware of this. The last breakdown of shareholding in the company puts the number of shareholders at about 5877, with 4,305 of these shareholders owning just 52.8m shares. Also, did Meristem disclose that they own more than 47m shares in this company when they published that valuation? Whose approval is required now after the meeting?
I hope time proves me wrong on this FTN cocoa thing though .
http://www.nse.com.ng/Financial_NewsDocs/6572_FTN_COCOA_AUDITED_DEC_2013_FINANCIAL_STATEMENTS_JULY_2014.pdf
http://thenationonlineng.net/new/amcon-acquires-second-biggest-equity-in-ftn-cocoa-processors/

i feel they had to increase the share outstanding to pumpin money. Also, AMCON is not ready to sell.
Considering the units dt solf today, sum orders have been sale till cancelled for more than 8 months now. its nt everybody dt has d proviledge of checking the info realtime,. not everybody knows where to get realtime data. My shares wuld hv been sold this morning if i didnt see d info on time and cancelled my order.

I will have 4get abt selling dt share since they now have mkt for their produce . The mkt was d major reason for their abysmal result over the years.

I have liked your response above. Thanks .

mercylicious: breaking news; union / mainstreet bank has been sold to a foreign investor.

dt one no concern me shaaa.

IS IT UNION BANK? and mainstreet bank to one company? what of people that put money in there bank? and were is that company from ?

pls my Ogas, does Cornerstone insuranse has a good fundamental and Management? It seems to have a tradition of pump and dump.

Good day brothers and sister, pls there is somthing i understand today in this room. some people are pumping to dump on follow bnsidl is it good? eg, c&i e.t.c why? if you did not stop doing so this will make this room to end. other things pls born 2be rich,9free,myjoy08,stockbull e.t.c top ogas make una try they post dividend's,bonus,AGM mittings here e.t.c

Born2berich:

Thank you my brother for this your supportive post.

This is enough prove that the word of God shall always come to past. As for those that dont believe, well the ball is in your court.

My own was to pass the message then.

Wetin i know.

@omaojo1 thanks bro, you too much

Joel 2:28
And it shall come to pass afterward, that I will pour out my spirit upon all flesh; and your sons and your daughters shall prophesy, your old men shall dream dreams, your young men shall SEE
visions:

But all vision must be tested to confirm the source. Elai the high priest pls do the needful.
JaMACE u can now back from the house of rep.


#spiritual investing. we are stil making money this yr.

ihedioramma: Good day brothers and sister, pls there is somthing i understand today in this room. some people are pumping to dump on follow bnsidl is it good? eg, c&i e.t.c why? if you did not stop doing so this will make this room to end. other things pls born 2be rich,9free,myjoy08,stockbull e.t.c top ogas make una try they post dividend's,bonus,AGM mittings here e.t.c

hehehe my pastor has spoken. plz dont quote him.
Am still trying to figure out how our pastor looks like. i will make out time to see him since we both stay in Anambra.

On another note, i will be starting my plantain plantation soon. i have given them money to clear the land tommorow and dig d hole for the planting. I want to test run it in few plots of land to master d farmin b4 commiting money in buying large expanse of land for expansion. U can go to agric thread for.more info.

in all, we are making money this year.

^^
hmmmm....see strong woman

mercylicious:

hehehe my pastor has spoken. plz dont quote him.
Am still trying to figure out how our pastor looks like. i will make out time to see him since we both stay in Anambra.

On another note, i will be starting my plantain plantation soon. i have given them money to clear the land tommorow and dig d hole for the planting. I want to test run it in few plots of land to master d farmin b4 commiting money in buying large expanse of land for expansion. U can go to agric thread for.more info.

in all, we are making money this year.

Madam is not smiling.

Are there really available lands for large scale farming in anambra?