ositadima1:


Was the right issue cancelled? 😄 This would cause the outstanding shares to balloon to 188 billion units. Then, if buyers are looking at equity that would amount to 2.4 naira per share when distributed across the huge OS.

It seems they are also involved in currency speculation, as their cash flow statement shows a huge 200 billion from forward call/put options (whatever that means).

Despite good products and increasing revenue, their operations is a value destroyer.

If the money had come from the right issue ,that should have led to an increase in OS which is not the case.

Agbalowomeri:


Ahh na the TA people go fit give us signal o

...Agba I hope you're not making gest of us in the bus becos of merger "hopeville"

Laso09:


If the money had come from the right issue ,that should have led to an increase in OS which is not the case.

I never said the money came from a rights issue. I asked a simple question: Was the rights issue cancelled?

yMcy56:
APR Q2, 2024
@CP, abeg help touch light the fair value of APR, na Q2 be this....

https://doclib.ngxgroup.com/Financial_NewsDocs/41806_AFRICA_PRUDENTIAL_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_JULY_2024.pdf

CILEASING
Financial statement released.....
https://doclib.ngxgroup.com/Financial_NewsDocs/41868_C_AND_I_LEASING_PLC.-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_JULY_2024.pdf

The company did better than the group in terms of turnover and profit. There should be some explanation for this.

ositadima1:


I never said the money came from a rights issue. I asked a simple question: Was the rights issue cancelled?

I don't even know myself.
I am just being curious to understand those figures.

What IF the dust does not clear until km50

megawealth01:


Anyone that missed Oando should just move on until the dust clears...

You can still buy it then sef no matter the price...

Nothing is really missed in this market as opportunities dey always dey

KarlTom:
What IF the dust does not clear until km50

Anything can happen. But the prospects of Oando going above N50 is very high, especially if the HY 2024 financials show positive results.

Someone should please help and move Total make my 2000 units will gain small. please Madam Mcy help out

UCAP on FULL OFFER...

AFRIPUD you do this one.

Sure thing!
I only hope this rally can be sustained until at least NGN30...

mikeapollo:


Anything can happen. But the prospects of Oando going above N50 is very high, especially if the HY 2024 financials show positive results.

KarlTom:
UCAP on FULL OFFER...

AFRIPUD you do this one.

that's effectively N11 after mark down if price stays this way

KarlTom:
UCAP on FULL OFFER...
AFRIPUD you do this one.

I also wonder oo
Doesn't people want bonus again?
Or they're afraid UCAP's bonus too might not be real?
AFRIPRUD mistake was from NGX, the officer in charge needs to be queried and suspended for toying and misleading with very sensitive info!

Announcement!!
UCAP's bonus issue of 2:1 (two new for every one held) is real ooooo 😁

Laso09:


I don't even know myself.
I am just being curious to understand those figures.

It's all there in the report. I couldn't get the formatting right but I hope you can make sense of the images attached at the summary.

The source - Shareholder loan -equity conversion
Image #1

What it was used for - Debt repayment ($342M is c. N512B)
Image #2

The effect - Zero borrowings and jump in Equity
Image #3

Reasonable enough for me as SEC is yet to approve the RI (Notes 17, pg 12).

BullBearMkt:

...Agba I hope you're not making gest of us in the bus becos of merger "hopeville"

Gest ke. It's a good buy at N15

Agbalowomeri:


Gest ke. It's a good buy at N15

Why you go talk this kyn thing

Agbalowomeri:


Gest ke. It's a good buy at N15

Agbalowomeri:


Gest ke. It's a good buy at N15

Agba no give this woman HP ooooooooo

sterlingD:
PRESTIGE Q2 2024

https://doclib.ngxgroup.com/Financial_NewsDocs/41877_PRESTIGE_ASSURANCE_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_JULY_2024.pdf


ECOBANK

https://doclib.ngxgroup.com/Financial_NewsDocs/41878_ECOBANK_TRANSNATIONAL_INCORPORATED-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_JULY_2024.pdf

Fantastic financial print from PRESTIGE ASSURANCE!
"Maybe we could ride the veritas way here".

CAVEAT: NOT an investment advice. ...due diligence still applies as always.

#volsupportive
#momentumbuildup

It is well

Ginalex:
Why you go talk this kyn thing

...are you also in the bus @Ginalex? If yes, don't mind Agba

Omooloriredade:


It's all there in the report. I couldn't get the formatting right but I hope you can make sense of the images attached at the summary.

The source - Shareholder loan -equity conversion

Image # What it was used for - Debt repayment ($342M is c. N512B)
Image #2

The effect - Zero borrowings and jump in Equity
Image #3

Reasonable enough for me as SEC is yet to approve the RI (Notes 17, pg 12).

It was approved by the SEC as stated in the corporate disclosure.

Now, regarding the equity conversion, this looks more like the RI (Rights Issue) took place(in advance ). I don't see why shareholders would lend 500 billion with nothing in exchange, especially when an RI is approved by the SEC.

Omooloriredade:


It's all there in the report. I couldn't get the formatting right but I hope you can make sense of the images attached at the summary.

The source - Shareholder loan -equity conversion
Image #1

What it was used for - Debt repayment ($342M is c. N512B)
Image #2

The effect - Zero borrowings and jump in Equity
Image #3

Reasonable enough for me as SEC is yet to approve the RI (Notes 17, pg 12).

Thanks, could it be that the owner have already deposited money for the RI

BullBearMkt:

...are you also in the bus @Ginalex? If yes, don't mind Agba

I am😩. Although I had exited Dangsugar at 47. If not na wotowoto I for dey collect from both ends. Just waiting for the perfect reentry price for Sugar

KarlTom:
UCAP on FULL OFFER...

AFRIPUD you do this one.

UCAP profit taking

onegentleguy:


Fantastic financial print from PRESTIGE ASSURANCE!
"Maybe we could ride the veritas way here".

CAVEAT: NOT an investment advice. ...due diligence still applies as always.

#volsupportive
#momentumbuildup

It is well

I guess the insurance companies are having a field day.
I noticed that Veritas Board meeting is coming up on 2nd August 2024 and with the volume witnessed recently, I also guess the party is not over with Veritas.
Please, what do you think?

Ginalex:
I am😩. Although I had exited Dangsugar at 47. If not na wotowoto I for dey collect from both ends. Just waiting for the perfect reentry price for Sugar

Wotowoto from both ends, Chineke m.

onegentleguy:


It's ok bro. ...am honestly not upset.

My post was mainly to address the concern around the seemingly bloated RI allotment peg and if indeed the capital raise/equity financing is necessary.

That said, your concern on whether the exercise will result to some level of dilution is valid. (RIs often does)
But look at it this way; it'd be easier and faster to grow earnings than dilute same (ref: CPS/EPS/EM) if you have an efficient capital structure and a clean slate in BS position.
...that's what the exercise aims to achieve. (via share cap reduction)

Again, note that the OS position will not increase the % FF post the RI exercise. Minority holders like you and I will still hold the same %... but that's assuming they all take up their rights.
Otherwise the liquidity concern you're probably worried about will only get better. This is especially true of coys with lean SS and FF like INTBREW. (unlike the transcorp example you mentioned)

I'll say it again; the RI/SCR exercise has some pros and cons. But the good thing is that the pros far outweigh the cons and puts the average minority investor in a better stead.

Kindly read through my previous post. (a revert to @ kayon1)
But pls also do well to follow your instinct.

Do take care

Laso09:


Thanks, could it be that the owner have already deposited money for the RI

When I highlighted that "they don't need our money", some thought it was just a mere statement.

I wonder why the stock has been on massive bid for days. Some "unseen hands" are trying real hard to keep it low and accumulate as much as possible. Typical NGX playbook!

It is well

ositadima1:



It was approved by the SEC as stated in the corporate disclosure.

Now, regarding the equity conversion, this looks more like the RI (Rights Issue) took place(in advance ). I don't see why shareholders would lend 500 billion with nothing in exchange, especially when an RI is approved by the SEC.

SEC is yet to approve the results of the RI was what I meant. So No, the debt was not "officially" offset by the proceeds of the RI.

SEC granting approval to proceed with a capital raise is different from approval for issuance and listing of new shares. Note 17 clearly states the later is yet to be approved.

Laso09:


Thanks, could it be that the owner have already deposited money for the RI

I'm inclined to think so at this stage too.

onegentleguy:


Fantastic financial print from PRESTIGE ASSURANCE!
"Maybe we could ride the veritas way here".

CAVEAT: NOT an investment advice. ...due diligence still applies as always.

#volsupportive
#momentumbuildup

It is well

Almost immediately after this post and PRESTIGE has already gained 8% from 52k to 56k.
...fast fingers!

It is well

UBA at 20👀👀. Is it the same 70% windfall tax that's causing the dip in virtually all the banking stocks?? Let it kuku get to 18 naira

FBNH Board Meeting coming up tomorrow 31st July 2024.
Hopefully, result may likely surpass expectations.