Krrush:

@NaijaDr

I get jealous when I keep reading excited posts about these short train journeys;quick stops and hop overs.

Even your R T Briscoe hint,I didn't take.

It's like me,I'm on this long 2-vessel boat cruise(UBA and Diamond-all of my folio) across the Transatlantic;Captains have abandond both ships with all of its luggage and passangers,and we seem to be headed for the Bermuda Triangle

I exaggerate sha.

UBA and Diamond are great for the long-term. No too envy the CICOers. Judgement (bear market) go still come.

@ Easi

U no go sleep? When and where is the meeting taking place? My office is not too far from your side. I dey the rival of our neighbour "Cameroun" wey dey Gears road.

aktopgun:

quite right. the thing is, as an institutional investor has now come on board and I didnt hear of them going on TS for any allowance for a core investor i am assuming some fellas have given up their share to the new investor or am i talking rubbish?

if not then the illiquid status may actually worsen.

abi, where are they going to get the shares to allocate to the new investor

Reply from my broker;Nigerian Ropes has been on bid for some time. I think this was the one they crossed on Thur and the previous 1m units we talked about when you asked me to get the stock for you.

The rumour is that Alumaco is next on the list for this company.

Shoreline And Hallmark Ag Acquire Majority Stake In Alumaco Plc

Shoreline Energy International, the leading Infrastructure and Energy Group focused on Sub-Saharan Africa, and Hallmark AG a leading Swiss Investment company acquire majority stake in Aluminium Manufacturer of Nigeria ALUMACO PLC

Source: Shoreline Energy International
Mar 13, 2008 13:16:56



FOR IMMEDIATE RELEASE

PRLog (Press Release) – Mar 13, 2008 – Shoreline and Hallmark AG today announced the closing of its acquisition of a Majority stake in Alumaco PLC a company Listed on the Nigerian Stock Exchange.

The acquisition continues Shoreline’s consolidation of the Construction and Allied products industry and creates immediate revenue accretive synergies with Shoreline’s portfolio companies in various Infrastructure sub-sectors.

“We are very pleased to have Alumaco as part of The Shoreline Group and to have the opportunity to expand our presence in an important manufacturing sub-sector,” said Kola Karim, Chief Executive Officer of Shoreline Energy International. Alumaco continues our drive to diversify and collapse supply chains into the group. Our portfolio companies will now be in a far stronger position going forward to meet the increasing challenges and opportunities from our customers. The addition of Alumaco provides further diversification of our business that brings new products and customers in important geographic areas.”

Shoreline has an excellent management team in place and we look forward to working with them for continued growth and success,” said Mr Roland Hubatka, Chief Executive Officer of Hallmark.

About Shoreline:
Shoreline is a leading Energy and Infrastructure Group operating in Africa. Shoreline has grown rapidly through acquisition. Recent acquisitions: ABB Electrical Systems (Nigeria), Costain (West Africa) PLC, Schlumberger testing and production (Nig). The Group continues to focus on Integrated Infrastructure and Energy leadership in sub-Saharan Africa.

About Alumaco:
Alumaco Plc is engaged in the Manufacture and Marketing of Aluminium Products including products for the Construction and other Industries

wow Shoreline is on a roll!!

Krrush:

@NaijaDr

I get jealous when I keep reading excited posts about these short train journeys;quick stops and hop overs.

Even your R T Briscoe hint,I didn't take.

It's like me,I'm on this long 2-vessel boat cruise(UBA and Diamond-all of my folio) across the Transatlantic;Captains have abandond both ships with all of its luggage and passangers,and we seem to be headed for the Bermuda Triangle

I exaggerate sha.

Oga no mind me even the RT Briscoe, I didnt have money for at the time, so left alone, then RT and Dunlop were the 2 I really wanted, but I'm glad I still got 1 sha.
I abandoned my UBA infact the uBA don enter Dunlop sef, my exit for Dunlop is N8, N10 and N15, might take some out at N8, and reevaluate at that point.

Naijadr:


That said who is on the Dunlop train?
and who dropped off the ABC bus at Ore? anyone else dropping off at Benin?? Me na across River Niger I go follow am go o!

Me I don drop for Ore o but I just notice say I forget my hand luggage inside the bus, ago follow Deltaline (Betaglass) take pursue una, hopefully we go caught una before Warri.

Happy holiday to you all, do enjoy your loots.

Today Wednesday March 19 has been declared as public holiday, so no trading.

Tomorrow Thursday is the last trading day for this week and the next trading day thereafter is Tuesday because Friday March 21 and Monday March 24 too are public holidays for the Id-el-Maulud and Easter celebrations?

cheexy:

Hi Aktopgun,
Thanks for all your contributions here. I have tried to understand technical analysis using candle sticks but i can't seem to find a book to use or a site to go to. I want to learn how to do it by myself. I know you must be tired of shinning candles very often. Please could you recommend a good book or site to go to, I remeber someone attached a zip file earlier but it couldn't open. Thank you for your anticipated response.

try candlestick charting explained by gregory morris
john Murphy's book on TA comes highly recommended as well but i haven't read that one

this brought a smile to my face when i read it and i remembered Roughcut and Naijadr. it was written by an investor on another forum in Dec 2007, after he read the Costain prospectus.

I bet he is probably kicking himself now cuz i hardly see the price going down to N13

enjoy ur holidays.

I am not impressed with this offer. I took a look at the prospectus and found that diluted PE ratio for 2008 is as high as 27, although it drops sharply in 2009. Diluted EPS adjusts for (adds) the shares that are currently on sale. I wouldn't be in a hurry to buy in the PO as its evident that there is not going to be a run up in price in the short term given the high 2008 PE. I would consider buying sometime mid to end 2008, when the funds being would have been deployed and should have started generating returns. In otherwords, the stock price should not move that much higher than the PO price of N13 ovr the next 6-12 mnths. I may be a buyer then, not now! Also note that his company has generated negative free cash flow for the past three years. Not my kind of investment!

I guess he didnt see it coming and didnt factor in the big "S" (sentiment) into his analysis. he is now the wiser i guess

TO BE FAIR TO THE GUY HE DID SOME SWEET ANALYSIS ON THE SITUATION WITH COSTAIN LATER AND MADE A U-TURN AT THE END.

I AM REALLY BEGINNING TO FEEL THIS SHORELINE COMPANY U KNOW, MUST FIND OUT MORE ABOUT THEM (note to self)


[b]I have to thank you for your outstanding comments. i was forced to go back to the prospectus and while my initial observations about the offer may be valid from a historical perspective, I think we may be looking at one of the biggest turn around stories in corporate Nigeria. At the center of it all is a man called Kolade Karim who would essentially own close to 50% of the this company upon the completion of this recapitalization exercise. Essentially this man through his company Shoreline Energy, took over app. 1billion in debt owed Costain UK (according to te prospectus), and became the beneficial owner of Costain Nigeria. His plan is to convert this debt to equity via the current offer. The rights issue is essentially for Energy shoreline (see page 48 of prospectus). Also note that 12% of the public offer has been allocated to companies controlled by Mr. Karim - Shoreline Energy (6%) and Koda trading (6%). Essentially, I see investing in this offer as a direct bet on the ability of Mr. Karim and management to transform this organization. Their plan according to the prospectus is to acquire companies along the value chain (see page 55). I think this is a necessary step in the right direction in the face of the negetive free cash flow generated by the company. If you take a look at the financial statement, you will notice that cash flow from operations has been negative historically. that can only mean one thing, they don't have much barganing power over their suppliers (above them in the supply chain) and customers (below them in the supply chain). Essentially, they don't get paid by customers before they pay out to suppliers. This is typical of construction companies that don't have long term contracts. What it seems to me that Mr. Karim wants to do in patnership with management and Empire Court Estate (also alloted 6% according to prospectus), is to acquire building material manufacturers (cement??) and real estate firms; thereby gaining access to the whole value chain and basically eliminating the cash flow problems, since the suplier would now be owned by him and would therefore be in a position to offer supply credits. I am sorry for making you read all this story. but back to your point on the price, although there is no ignoring that there would be significant dilution from all these exercise, but if Mr. Karim owns significant number of shares post offer and is unwilling to sell (given his strategic intentions), then its very unlikely, like you rightly postulated that the price post offer, would drop below the current N18. Basically, that is the man that would dictate the price. in short, IT LOOKS LIKE I AM GOING TO MAKE A 360 DEGREE TURN HERE, THIS OFFER MAY JUST BE MUCH BETTER THAN I INITIALLY THOUGHT![/b]

aktopgun:

this brought a smile to my face when i read it and i remembered Roughcut and Naijadr. it was written by an investor on another forum in Dec 2007, after he read the Costain prospectus.

I bet he is probably kicking himself now because i hardly see the price going down to N13

enjoy your holidays.

I am not impressed with this offer. I took a look at the prospectus and found that diluted PE ratio for 2008 is as high as 27, although it drops sharply in 2009. Diluted EPS adjusts for (adds) the shares that are currently on sale. I wouldn't be in a hurry to buy in the PO as its evident that there is not going to be a run up in price in the short term given the high 2008 PE. I would consider buying sometime mid to end 2008, when the funds being would have been deployed and should have started generating returns. In otherwords, the stock price should not move that much higher than the PO price of N13 ovr the next 6-12 mnths. I may be a buyer then, not now! Also note that his company has generated negative free cash flow for the past three years. Not my kind of investment!

I guess he didnt see it coming and didnt factor in the big "S" (sentiment) into his analysis. he is now the wiser i guess

That is what i call ANALYSIS PARALYSIS

I bet that the fellow who did the analysis is an accountant and he's only looking at  cashflow and all what nots. I look at the business model and the strategy and so far it has worked and made some millions for me in profits even just for this Costain alone. I didnt buy into the PO though.

aktopgun:

TO BE FAIR TO THE GUY HE DID SOME SWEET ANALYSIS ON THE SITUATION WITH COSTAIN LATER AND MADE A You-TURN AT THE END.

I AM REALLY BEGINNING TO FEEL THIS SHORELINE COMPANY You KNOW, MUST FIND OUT MORE ABOUT THEM (note to self)


[

And this is what i said back in October regarding Costain

Here are some numbers to digest for Costain (WA) Plc

Outstanding shares listed: 159.9M
Current Market price : N19.49
Trailing PE Ratio (YEnd Mar 2007) 72.19
Trailing EPS 0.27

Forward PE Ratio (YEnd Mar 2008) 2.85
Forward EPS 0.60

They are hoping to grow their EPS and by extension their PAT by a massive 122%. Already for the first three months of this year (YEnd Mar 2008) the PBT(Profit Before Tax) is N120M and they grew their turnover from N1.1B YEnd 2006 to N3B in 2007 a massive 174% leap.
As a minimum i'm expecting the share price to cross the N25 mark(considering the rate at EPS is projected to grow) by the time they report in March next year.
Going forward this is a good one and deserves the award for one of the most improved stocks (share price was N1.46 as at January 2007) and this was a company that was rapidly going into terminal decline until it was rescued by Shoreline Power company. They have also changed their business strategy by concentarting on contracts from the private sector a strategy which seems to have paid off. All their recently awarded contracts are from the private sector.
The contracts on their order books are in excess of N5.5B and in the last 24 months they have invested N1B in capital/equipment and in the next 12 months it is planned that a further N2.5B will be invested in operating assets and they hope to start paying dividends in the next 12 months
The parent company has also committed to recruiting 170 graduates every year in their quest to become the biggest engineering conglomerate in Africa. These are sentiments the market and investors alike like to hear.

They are planning a PO(not sure but very soon)

This is a stock you might want to watch!

aktopgun:

TO BE FAIR TO THE GUY HE DID SOME SWEET ANALYSIS ON THE SITUATION WITH COSTAIN LATER AND MADE A You-TURN AT THE END.

I AM REALLY BEGINNING TO FEEL THIS SHORELINE COMPANY You KNOW, MUST FIND OUT MORE ABOUT THEM (note to self)

Sometimes when you ANALYSE too much you PARALYSE your profits _{i'm going after the new subsidiaries now}

what i've gleaned so far on shoreline and their investments:

Costain- own roughly 50%
Alumaco- majority shareholder
Nigerian ropes- majority share holder
Premier paints- owns 40%, majority share holder
ABB electricals nigeria- majority share holder
Schlumberger tests and production nigeria -majority share holder.

it strikes me that most of these companies are in that manufacturing and construction supply chain u know

the search continues.

i guess i'll have to wait for costain to slow down before attempting a hijack (roughcut watchout. u will be the only person i will leave alive on this one cuz i have learnt from my last hijack-oceanic, wher i left the airhostess alive and she did a "passenger 57" (ala wesley snipes) on me. wont let that happen again!!  

Me too been drop from the BC bus for Ore o.E b like the driver forget something for Lagos so he had t turn back.When he reaches Sagamu I will re-enter the bus.Maybe I fit drop this time around for Benin with the hand baggage wey I leave inside now.Na dey dunlop tire I buy na him the bus dey use sef.And na IEI insure the bus.

http://www.tribune.com.ng/19032008/news/news24.html

THE Managing Director of Cashcraft Asset Management Ltd., Mr. Adeolu Ireyomi, was on Tuesday discharged and acquitted by the Chartered Institute of Stockbrokers (CIS) over alleged sales of 9,257 shares of the company’s client.
Ireyomi, who was charged alongside Clement Ikechukwu Ukogu, another senior partner in the company, was absolved by the CIS for want of evidence that linked the duo to the act.
The Nigerian Stock Exchange (NSE) had earlier, in its decision on the matter, ordered the company to pay half of the total value of the 9,250 shares of Mobil Oil Nigeria sold without the owners’ consent.
At the ruling on the petition brought against the two respondents on Tuesday, by Prompt Finance Ltd., the president of the CIS, Mr. Dipo Aina, who led the five-man panel, upheld the submission of the lead counsel to the respondents that a case of prima facia had not been established against respondents.
He, therefore, discharged and acquitted the respondents of all the charges preferred against them.
Adeolu Ireyomi and Clement Ikechukwu Ukogu, in the four-count charge in suit no. CIS DT /A528/A216/01/2007, were alleged to have, between April 2002 and August 2002, used the machinery of Cashcraft Asset Management Ltd to misappropriate 9,257 units of Mobil shares belonging to Architect Olakunle Bello without his knowledge or authority.

aktopgun:

what i've gleaned so far on shoreline and their investments:

Costain- own roughly 50%      I think  will be more than that cuz he's got indirect shareholding via other subsidiaries he controls
Alumaco- majority shareholder
Nigerian ropes- majority share holder He took majority shareholding through QITC Quality Inspection Testing Certification which is a subsidiary of Nigerian RopesPremier paints- owns 40%, majority share holder
ABB electricals nigeria- majority share holder
Schlumberger tests and production nigeria -majority share holder.

it strikes me that most of these companies are in that manufacturing and construction supply chain u know

the search continues.

i guess i'll have to wait for costain to slow down before attempting a hijack (roughcut watchout. u will be the only person i will leave alive on this one because i have learnt from my last hijack-oceanic, wher i left the airhostess alive and she did a "passenger 57" (ala wesley snipes) on me. wont let that happen again!!  

I think the way Shoreline has positioned the acquisitions is to acquire companies that will service the private construction/furniture contracts that Costain have on their books so that the supply chain is not disrupted and will ensure they have sufficient cashflow for their operations as the analyst in one of your posts pointed out.

Shoreline is also into the power and energy sectors and that would explain why they are acquiring all these oil and power generation equipment testing and certification.

I only get hand-luggage for the Costain jet now the only way you are going to catch me  is if you decide to board the subsidiaries' jet and as for Oceanic i dey go with that one to Australia. Oceanic is slowing down to refuel mid-air over the atlantic ocean for the long-haul flight down under

@loma
See me see trouble o. Which of my posts do you want them to disregard? Unless you publish a full page centerspread unreserved apology in a widely read daily newspaper within the next 7 days, I will devote a cartoon to you Cool

Bros, U no go take laugh kill person.

Napolean
Posts: 44

Offline

Re: Stock Market Tips For Nigerians
« #18880 on: March 03, 2008, 09:07 PM »


Rasputin

I bought for my staff and I got the certificate before I left. So I think you should ask your broker, possibly has come to his po box or call first registrars and tell them to keep it for you and either go or send somebody to pick it.

I was told today bagco is also ready but I cannot confirm what i have not seen. I can only confirm union diagnostic



EKWA (m)
Re: Stock Market Tips For Nigerians
« #21448 on: March 15, 2008, 08:04 PM »

INVISIBLE,my point is in respective people work for us we should treat them with respect and kindness to get best out of them even my gate man.In Nigeria I have 35 staff,I pay them monthly out of 35 staff ,I already given 21 car registered on their names.
My broker is not obliged to give me inside news and information for me to better my life and family.As my people use to say you use money to get money.

marco74 (m)
Re: Stock Market Tips For Nigerians
« #21449 on: March 15, 2008, 08:30 PM »

is it just me!!ekwa is sounding pretty much like elder napoleon?!anyway your contributions will be most welcomed if it assists other forum members in making more naira!!
@all what do u guys say about utc,japaul,and wapic medium term(9 months).thanks



I am beginning to think the same to,

Roughcut and Aktopgun

I beg guys whats your take on UTC? I am planning to jump out of this bus 1st thing tomorrow, but my instinct is telling me there is no bus stop ahead but a police check point. I no wan jump out of a moving bus o

crazyT:

Roughcut and Aktopgun

I beg guys whats your take on UTC? I am planning to jump out of this bus 1st thing tomorrow, but my instinct is telling me there is no bus stop ahead but a police check point. I no wan jump out of a moving bus o

Candidly speaking the pattern is a GREEN MARUBOZU which means its VERY BULLISH and will go on for a few more days. It has crept to the OVERBOUGHT region so expect a dip i the few days. It may take longer than a few days to correct downwards or shorter when exectly the candle i'm looking at does not say. If the volumes start decreasing then it may time to bail out.

The fundamentals are rubbish so cannot be responsible for the bullish pattern we are seeing at the moment the only thing i can think of is the FYE is December so may be impending results and all the associated rumours may be responsible.

This is strictly a CICO stock!

Be ready to jump ship in a few days

CAVEAT EMPTY REPETE!

I wonder who is investing in the Daar Offer (AIT)?

I doubt its worthiness.

Omo, shine eye o!

OpeLovely:

I wonder who is investing in the Daar Offer (AIT)?

I doubt its worthiness.

Omo, shine eye o!

Dont be surprised when they start returning over-subscription monies after the allotment!

RoughCut:

Dont be surprised when they start returning over-subscription monies after the allotment!

dont be surprised that as we are speaking sef the offer has already been oversubscribed,

I hail all thee my people o!
i have been stuck up in Warri for the past two weeks

@Roughcut

Thanks repete your ceveat is well noted I'll just wait till next week Tuesday maybe by then I will be able to bail out with about 50% profit.


Happy (NSE) Holiday

Nairalanders

Abeg someone fit shine candle for Berger Paints. It has been on serious bid for sometime now. Merci boucou (no fit spell am anymore o).

ALL
I be dey enjoy all the postings for this blog o!! Una welldone o! may god bless una well well o!

I be wonda nobody dey talk about Dangoye Sugar Bonus. Abi I dey miss something? Because me I wan buy so that I will get the bonus and dividend abi they don close their book? Abeg make somebody save me from this blunder where I want  comit so o!!

Remember what happened to the Transcorp IPO, i fear for Daar also.

Do they really have what it takes?

Hi people,
Any info on aiico PO allotment?

Thanks.

OpeLovely:

Remember what happened to the Transcorp IPO, i fear for Daar also.

Do they really have what it takes?

@All
Aside oversubscription/returned money issues, could you please give us reasons to substantiate the doubt that Daar Communications would perform according to projections in the offer prospectus.
Your responses will be appreciated.

Cheers!!

@ PUMPING 777,  looking at that beta glass result, ifi use 119% growth on 9 months result i get a forward pe of 14. even better.
anyway, i appreciate the advice u gave on selling the banks for now, but the truth is, i am a devoted fundamentalists, i know ubaisnt gonna give good returns anytime soon but then what do i buy, ive heard big treat ,abc transport, unity bank but the truth is fundamentally, none of these coys are worth sh .
till i see a smallcap coy with good fundamentals, no move for me. i cant get that bloody chellarams cos its too illiquid.
my 2kobo,

Could someone kndly inform me if the following companies have finished their allotments for their last PO's and/if any of them have started to send out their certificates/ cheque refunds or credited the CSCS a/c's . Thanks

Access Bank
Japaul
FCMB
Fidelity
NAHCO
Dangte Flour
PhB Bank