Hi guys i work with a bank and in the financial institutions group. in my unit i come across many lucrative offers from our clients just yesterday i was called that an investor wanted to sell his oceanic shares;
amount: 50 million units
price: 20k off market price i.e as at yesterday N22.13 intead of N22.33K

Remember that oceanic bank posted an impresive third quater financials and since september is thier AGM or end of year its going to drive up the prices.

As i speak the CSCS is activated and the investor wants to sell.

I know ypu guys might think that the capital market is falling but government just realeased a communique (read below) that has reversed the trend.

My phone num is 08033746601.

[b]Intervention by the Federal Government
Posted Wednesday, August 27, 2008
As part of the interim measures, effective from Wednesday, the NSE will take the following steps:


1. The NSE will reduce its fees by 50 per cent.

2. New listings on the Nigerian Stock Exchange is hereby suspended until the market stabilises.

3. One per cent maximum downward limit on daily price movement whilst the current five per cent limit on upward movement is retained.

4. The SEC will release guidelines for market makers on the Nigerian Stock Exchange before the end of the week.

5. The NSE has begun steps to review its trading rules and regulations.


OTHER KEY DECISIONS:

6. Henceforth, there will be strict enforcement of NSE’s listing requirements with zero tolerance for infractions. The SEC and NSE will also take administrative actions to stem the rate of new listings until the market stabilises.

7. Having gone through the steps for delisting, the stock exchange will delist all the moribund companies earlier advertised.

8. The modalities for the establishment of a Capital Market Stabilisation Fund are being worked out to intervene promptly, effectively and prudently in the Nigerian stock market as the need arises.

9. The Office of the Attorney-General of the Federation has been directed to issue an exemption to the provisions of the relevant sections of the Companies and Allied Matters Act, 1990, on share buy-backs to permit quoted companies to buy back up to 20 per cent of their shares. SEC’s approval would, however, be necessary before any quoted company is allowed to undertake any share buy-back.

10. The PAT will continue to meet regularly to articulate and implement medium to long term measures that are necessary for the healthy growth and development of the capital market.

Members of the PAT include the ministers of Finance, Justice and National Planning; the Chief Economic Adviser to the President, the Governor of the Central Bank of Nigeria and mogul Alhaji Aliko Dangote.

Others are the directors-general of the Securities and Exchange Commission, the NSE and the Debt Management Office, as well as the managing-directors of Union Bank, Access Bank and Intercontinental Bank.

Also on the team are Mr. Bolaji Balogun, Mr. Ebilate Mac-Yoroki, Mr. Kayode Falowo and Mr. Oladipo Aina[/b].

wow! 50M unit @22.13. oceanic bk closed in the red yesterday and i still see it shedn more wt because alot of people really mopped it up when it went down to 18 and at 22 they are really takin profit and this will continue until the stock's price drops bak to 19 or 20. so my friend the realistic price for ur stock should be much lower. remember, we are in a dangerous bearish period that might still linger for awhile despite the so called govt intervention measures. so review ur price down.