Watch out for this company.
http://www.punchng.com/Articl.aspx?theartic=Art20080120132035

ty_ademolu:

@Babaof2

I may be a silent thread reader, but I really appreciate your messages

From the posts of other nairalanders, I have come to believe I cannot be a short term trader, because I don't have the patience to follow the market to make sure each and every stock I choose are going up in the next week.

I work better as a medium term trader, with a trading time of 6 months.

I am thinkin of selling my GTB, DEAP, Lasaco and fidelity in order to get in on the chams and skye bank offer.

do you think I should still wait it out or go on with the sales

Also, I bought dangote sugar, too expensive at N49, I have been waiting to break even so I can atleast sell and get into another share, but it doesnt seem to want to get there, I want to count my losses and get into another stock instead of wait around till eternity for it to rise again.

What do you think should be my best approach!

Since you say you can wait 6 Months, first that DSR was high at N49,but just wait it out.I believe it strongly has the ability to cross the N49 mark again.
Only thing is that your profit margin will be thin by the time you sell higher than N49. After you sell it, press the RESET button on DSR.
Since he won't be doing interim dividends again, only interim results can cause serious price movements.
It'll now become a LOOOOOONG TERM STOCK. But i think Dangote will be a good candidate for a bonus after this financial year 07 (i.e. 08 FYE).
I don't think you should sell your GTB,you're close to the end of the road for GTB.This is the time to take a little more.
Fidelity makes some sense to sell.Year end is still far.
DEAP (too new for me) is owned by Easimoni.
Again considering your 6month timeline, still wait for Lasaco.I though have taken profits twice on Lasaco inlast 3weeks to invest elsewhere.
As per one of the offers you mentioned.
I'll only be taking the SKYE stock on the Floor LATER. These banks NEVER repent yet.
Remember this was about the same time Oceanic came to the market last year.Those who bought on the Floor were able to sell at N35,buy at N26 and
sell at N39.Meanwhile all those who tied money down for months in PO may only get about N9.Can you imagine that.
Skye bank bears very great similarities with Oceanic last year.
1. Same year end
2. They too are giving bonus i think.
3. They're coming out same time Oceanic did last year.
Just pray the similarities end with No.3 above because as per No.4 below(that one no good oh).
4. They may delay listing of the PO shares until after announcing 08 year end like oceanic so you won't be able to sell.
  So as for me na dance floor i dey oh.

pangolo:

Watch out for this company.
http://www.punchng.com/Articl.aspx?theartic=Art20080120132035

13 banks to raise $200 million loan isn't that too many banks?

nairalanders happy new week
@wanajo,@fof2
abeg ow do u see this unic got it at 4.40 and its going down,whats ur opinion about it,do u see it going up/how soon?
also japaul seems to be gaining daily 5%,abeg any news dey behind am,may be results or bonus

@fatherof2
thanks for ur contributn BABA, i rili appreciate.whats ur view on this wema brohaha

FatherOF2:

Since you say you can wait 6 Months, first that DSR was high at N49,but just wait it out.I believe it strongly has the ability to cross the N49 mark again.
Only thing is that your profit margin will be thin by the time you sell higher than N49. After you sell it, press the RESET button on DSR.
Since he won't be doing interim dividends again, only interim results can cause serious price movements.
It'll now become a LOOOOOONG TERM STOCK. But i think Dangote will be a good candidate for a bonus after this financial year 07 (i.e. 08 FYE).
I don't think you should sell your GTB,you're close to the end of the road for GTB.This is the time to take a little more.
Fidelity makes some sense to sell.Year end is still far.
DEAP (too new for me) is owned by Easimoni.
Again considering your 6month timeline, still wait for Lasaco.I though have taken profits twice on Lasaco inlast 3weeks to invest elsewhere.
As per one of the offers you mentioned.
I'll only be taking the SKYE stock on the Floor LATER. These banks NEVER repent yet.
Remember this was about the same time Oceanic came to the market last year.Those who bought on the Floor were able to sell at N35,buy at N26 and
sell at N39.Meanwhile all those who tied money down for months in PO may only get about N9.Can you imagine that.
Skye bank bears very great similarities with Oceanic last year.
1. Same year end
2. They too are giving bonus i think.
3. They're coming out same time Oceanic did last year.
Just pray the similarities end with No.3 above because as per No.4 below(that one no good oh).
4. They may delay listing of the PO shares until after announcing 08 year end like oceanic so you won't be able to sell.
So as for me na dance floor i dey oh.

Thank you for the message. Ill wait them out and try to raise extra cash for skye and chams.

I am still counting my blessings as Int Brew is almost N5 _{I will officially become a millionare then, is there a millionaires club around somewhere?}

@ty_ademolu, yes there is a millionairs club around, registration fee- one million naira.

@baba of 2

good day!u no go church or na night u dey for your end? can you elaborate the issue of CHAMS PP for me i beg !i no know how this PP THING dey work and how long do we have to wait to reap things?is it a short term or long term !i have done my research on the company and i can see hat it is on the high and flight PHB do you think i can still join in or should i wait ?and what about FCMB ,UBA ?OCEANIC look a bit juicy now isn't it,

sory i ask too many questions no forget say i still be a kid learning his trade with BABA AGBALAGBI WEY PASS AGBALAGBA

invisible!:

@ty_ademolu, yes there is a millionairs club around, registration fee- one million naira.

OLE! _{you for like go join IBB for minna!}

@ty_ademolu, you didnt even want to know the benefits of the club? Supposing we give you five million at yr end?

I can see you now laughing, looking for a pen to sign your cheque hahahah!

@ FATHER OF 2,

I no go lie, I dey impressed with your analysis. Being a short term investor does not prevent one from learning the facts about companies we buy.

I have found it very interesting that a lot of ypur recommendations have been similar to my buy decisions (although cash scarce).

I will like to have a chat with you ( if you don't mind). My email address is debenzd @ yahoo dot com.

Looking forward to hearing from you.

To all the other analysts in this forum, keep up the Good work. You are examples of what this country can be if we all apply ourselves and give freely of whatever gifts we have received.

Peace

invisible!:

@ty_ademolu, you didnt even want to know the benefits of the club? Supposing we give you five million at yr end?

I can see you now laughing, looking for a pen to sign your cheque hahahah!

Na so dem dey dash person 5m?if na so, I go put 10m sharp sharp tomorrow morning, make I collect 50m year end.

Does anyone have any news on FTN Cocoa processors IPO and their website?

Also is UBN a good buy - they are coming to the market this year again.

oxfordkid:

@baba of 2

good day!u no go church or na night u dey for your end? can you elaborate the issue of CHAMS PP for me i beg !i no know how this PP THING dey work and how long do we have to wait to reap things?is it a short term or long term !i have done my research on the company and i can see hat it is on the high and flight PHB do you think i can still join in or should i wait ?and what about FCMB ,UBA ?OCEANIC look a bit juicy now isn't it,

sory i ask too many questions no forget say i still be a kid learning his trade with BABA AGBALAGBI WEY PASS AGBALAGBA

I go church today oh.
PP is long term.
Those 3 banks you listed are all juicy just as you stated.
After PHB peaks and starts descending after bonuses are credited,then you can enter.
But i no mind if you struggle buy sha oh so d price go rise more more (just joking).

Goodday All,

Can i have the tips for stock trading please. I am a new investor who wants to invest in the capital market.

father of 2,
sorry to disagree with you but it looks like skye has dissapeeared from the floor. you might not get at 16.84, but i wont even mind at 20. forward eps is 1.51 . absolutely brilliant, im sure they will give bonus, lets wait and see sha.
BTW, do you think gtb can hit 45 naira.?

Afribank:
To buy or not to buy in the short term ?
Make una say something, before I write the cheque,

Thanks.

oakinwumi:

Goodday All,

Can i have the tips for stock trading please. I am a new investor who wants to invest in the capital market.

Bobs u have all the tips now, start from page 1 and u'll find more tips than u need

http://www.proshareng.com/myproshare/portal_news.php?id=3495

Omoyeni is still WEMA boss –CBN
Posted Sunday, January 20, 2008

The Central Bank of Nigeria has denied speculations that the Managing Director/Chief Executive Officer of Wema Bank Plc, Mr. Adebisi Omoyeni, has been fired.

The Deputy Governor, Financial Sector Surveillance, Mr. Tunde Lemo, said that Omoyeni was neither sacked nor suspended as widely circulated.

The CBN chief, who spoke with our correspondent in Abuja, said that Omoyeni was only on routine leave.

”He is on routine leave and you can quote me. He remains a member of the bank‘s board. No one has asked him to go and I can confirm to you that the bank is healthy,” he said

He also denied that Omoyeni‘s leave was linked to the re-examination of the bank, which was scheduled to commence on Monday by CBN‘s inspectors.

Lemo explained that the bank‘s inspection was a routine matter and that the CBN regularly embarked on house inspections to complement its electronic financial surveillance system (e-fass).

According to him, the CBN insists on comprehensive supervision of banks to ensure the integrity of the banking system.

”In fact, we are getting to a stage where we will have resident inspectors in the big banks,” he added.

The CBN was being expected to make a formal statement on the speculation as at press time.

When contacted, the Head, Corporate Affairs, Wema Bank Plc, Mr. Tunde Olofintila, also denied allegations that his boss had been removed by the CBN.

In a text message to our correspondent, he said Omoyeni was only on an annual vacation.

”Don‘t forget that he has not been on vacation since he became the Group Managing Director in 2005,” he stated.

He, however, declined to pick his calls for further interrogation.

Omoyeni joined Wema Bank in March, 1987 as an assistant manager and has worked in various capacities since then.

He has been Assistant General Manager, Insurance, Pension and Registrar Services; General Manager (Administration); Executive Director, Resource management and Services; and Executive Director, Investment Banking and Public Sector.

He was also Executive Director, Retail Banking until October 4, 2005, when he proceeded on a leave of absence from the bank following his appointment as the Deputy Governor of Ekiti State.

He was appointed MD/CEO of the bank on December 7, 2007.

Wema Bank‘s profit after tax increased substantially from a loss of N6.6bn in 2006 to a profit of N2.5bn in 2007, representing an increase of 138 per cent.

According to the full year result of the bank for the period ended March 31, 2007, turnover increased from N14.83bn in 200 to N24.43bn in 2007.

While speaking at the bank‘s annual general meeting, held in Kano in December 2007, Omoyeni explained that the loss of N6.6bn in 2006, was exceptionally due to a high loan loss provision of N10.26bn.

Deposit liabilities of the bank also increased from N85.6bn to N125.48bn, translating to a seven-year record high growth rate of 47 per cent.

Gross earnings grew by 78.4 per cent, up from N14.8bn in 2006 to N24.63bn in 2007. This had hitherto grown at an average rate of 31.4 per cent yearly between 2001 and 2006.

The bank also disclosed at its last AGM that it would open its hybrid share offer to the public before February 2008, to raise N130bn

The MD said that the bank was going to the market to raise more funds in order to increase its capacity to deliver on its promises to all its stakeholders and customers.

The offer is expected to have a Global Depository Receipt of 40 per cent and a rights issue prospect while the bulk would be reserved for local subscription.

The GDR perspective, according to the MD, is to accommodate both local and foreign stake holding in the bank. - Punch

Prince11:

Afribank:
To buy or not to buy in the short term ?
Make una say something, before I write the cheque,

Thanks.

I think Afribank is a buy now, the price is dangerously low now, I want to see it fall a bit more but I am afraid it may not fall too much tomorrow, reason - it was not among the list of companies with heavy offers on the floors.

This is an indicator that the supply will soon be halted, then demand will set in and push the price up.

@invisible

What's up my man?
Need help in making a buy decisoion.First bank,short-term.

Where do you see its price in two-three months time?

Thanks mon.

















'

I have been accumulating some FBN since December in readiness of its Q3 results, due any moment. If it is as good as it has always been, expect a rally, plus dont forget that the FY will be in march, so position traders will be reluctant to move out till then.

This will only make FBN even more scarce as time goes on. Dont forget sentiments will play a role here. FBN is (arguably) the best Nigerian bank. Fundamentally solid. It is a good one for the short term.

If old mutual of SA and Commerz bank of Germany settle down here, (as was speculated in the papers last week) they will add this bank to their portfolio, if they are serious about buying into Nigerian banks. This will shoot the price to the roof.

Plus,I noticed its been on bid(weak,though) for a while now.

O.k,thanks [size=20pt]@invisible.[/size]

DIAMOND BANK HALF YEAR (6 MONTHS) RESULT

31/10/07 Diamond Bank Plc 30th April 2007 Half Year 25.319 billion 18.304 billion 5.813 billion 3.268 billion

Me, I am waiting for the 9months result.

http://www.independentngonline.com/?c=162&a=9366CBN Suspends Omoyeni, Wema Bank MD


Sun, 20 Jan 2008 00:00:00

Adebisi Omoyeni, Group Managing Director and Chief Executive of Wema Bank Plc got a birthday and belated Christmas present last week.

He was directed to proceed on indefinite leave by the Central Bank of Nigeria (CBN), following what a source described as "weighty allegations" of fraudulent activities.

In his place, Alhaji Nurudeen Fagbenro, the bank’s only Executive Director had been named acting Chief Executive.

A former Executive Director in the bank, Omoyeni was re-called by the board from the Ekiti State Government where he was former deputy to then Governor Ayodele Fayose in December 2005 to take over the mantle after the sack of ex-MD, Alhaji Musuliu Alade Adeleke.

A document made available to Sunday Independent over the weekend alleged, for example, that the sacked chief executive asked for and got a N90 million housing allowance upfront for five years, amounting to N450 million. Although, this was without board approval, the directors became culpable in the anomaly when they agreed that they approved after it was discovered by the regulators.

There is also the allegation that Omoyeni took undue advantage of a CBN directive to acquire shares of Wema Bank last year. The CBN had directed that cumulative government stake in any of the nation’s 25 banks by March 31, last year be no more than five per cent. As a result of this, the banks had made spirited efforts to comply before the deadline through a "special offer" of its shares to the public on the Nigeria Stock Exchange (NSE).

Taking advantage of this, Omoyeni was said to have set aside about N4 billion, with which he mopped up a substantial portion of the 40 per cent stake in the bank until recently owned by the governments of five South Western States of Ogun, Ondo, Oyo, Osun and Ekiti.

The five states own Odu’a Investment Company Limited; a conglomerate with interest in several sectors of the economy including blue chip companies whose shares are listed on the NSE. Before the CBN directive, the group was the single largest investor in Wema Bank with 40 per cent of Wema Bank’s 8.902 billion ordinary shares.

As a result of the trading, which seems to have confirmed allegation that the rise in the price was being manipulated and without fundamentals, Wema Bank last year was the most sought after within the period.

According to a report presented by Prof. Ndi Okereke-Onyiuke, director-general and chief executive of the NSE last week, Wema Bank’s 13.072 billion shares were traded last year. This accounted for 9.46 per cent of the 138.1 billion shares which changed hands during the period. Fidelity Bank followed from afar, noted the DG’s report, with 7.595 billion units or 5.49 per cent of the year’s most active stocks by turnover volume.

The portion of Odu’a Investment Limited shares to be sold to the public in compliance with the CBN directive was offered through a "special sale" on the floor of the exchange in the first quarter of last year.

According to a note sent to stockbrokers on Wednesday by the NSE, the special sale of shares involved an offer of 38.5 million shares of the bank to investors.

The move, according to the Exchange, is "part of reduction of public sector interest in the bank as directed by the CBN."

Details of the offer showed that each stockbrokerage firm was allowed to bid a limit of 200,000 units on behalf of itself and its clients.

When contacted on phone on Saturday, Tunde Olofintila, Head, Corporate Affairs, told Sunday Independent that he was at a function and asked to be called again in an hour.

But Festus Idoko, a Deputy Director and Head, Corporate Affairs at the CBN said: "I am not aware of that. You are just telling me now. Somebody was talking about his being on leave, but I don’t know."

Asked if such a development could take place without his knowledge Idoko reiterated he was not aware but pledged to make calls.

@Father of 2
It seems everyone wants your contact details nowadays, e be like say u go need PA abi you go contest for presidency based on your popularity,

Your disciple, simon peter

Once things are controvesial like they are presently with wema, simply best to take of the radar. Which version do we now believe. i personally think the latter and CBN is just trying to avoid panic in the sector. Nairalanders be careful

Fatherof2,
When I first joined this thread and I noticed the number of "disciplines" you had,I was initially like, "What is so special about Fatherof2 sef".

I hereby confirm that I am proud to be called your discipline.Infact we suppose change your name to "Fatherofmany".

I followed one of your recommendations and I made a "killing".

With kind regards,

Discipline John.

@kpineo, you cannot take it off the radar if you have got it in your portfolio. You can only take it off your radar if you have not bought the stock.

For those that own the stock, chill, things will be better later, abi when una dey rise from N8 to N15, una dey clap?

Na so this business they  ooo!

Somebody should please help me choose between UBA and FBN for maximum loading for a huge 'killing'

Later una go help me choose between a toyota camry and a honda accord to celebrate

@ all the gurus in the house, what is so good about unilever with a very high PE, as opposed to UACN with a lower PE. why should we buy unilever? as advised by Father of 2 earlier.

Dare they question advice that was sought _{without question} from thier Father?