@fatherof2
pls when can we enter ETHERNAL oil again?

THANKS

Fatherof2

This GTB wait dey tire me o. I need to move the money to some other banking stocks except they do 1 for 1. I hope all is well with this bank o - overload dey there.

hi there,i have shares in nigeria brewries,oando oil,acess bank which i bought sometimes in 2006 i havnt been able to follow them and see if they are appreciating or depreciating ,could anyone tell me if they are as i bought quite a lot

@ Harrisoft

Personally,I'm not doing anything short term now (Dunlop inclusive)except of course those stocks that we already have their FYE results and know what they're paying per dividend and warrant.Just my thoughts

beginner:

Fatherof2

This GTB wait dey tire me o. I need to move the money to some other banking stocks except they do 1 for 1. I hope all is well with this bank o - overload dey there.

Me i need to know the new banking stock wen you wan go oh, e be like say e beta pass GTB wen you dey so.

rasputinn:

Fof2,easi,pumping

Do you know the payment date for Oando bonus.Why are they keeping the date under wraps?
I'm taking serious aim @ them and UBA,but I need to know the Oando payment date so I can plot my move in

Didn't get any, so i've not been looking out for it.

Lafarge Wapco is planning a hybrid offering to raise 75 billion naira.
Further details on the proposed hybrid offer of the company may come out b/4 or during its AGM slated for May 23, 2008 in Lagos Nigeria.

Lovers of P.O's,get ready

beginner:

Fatherof2

This GTB wait dey tire me o. I need to move the money to some other banking stocks except they do 1 for 1. I hope all is well with this bank o - overload dey there.

Patience my friend is a virtue you need in heavy doses not only for GTB stocks but for ALL stocks on the NSE @ least till around July/Aug when more companies are expected to have released more of thneir results and this budget that took ages to be signed into law would hopefully have stimulated the economy a bit

@cuppcakke

I seem to be hearing a lot about Greenwich Trust lately but dont really know much. can you please forward the profile of your firm to yhurmie@yahoo.com. Thanks.

hi ,i asked if anyone knows any stockbroking firm in abuja.am new in town and i need to invest .

This is one of many stockbrokers with presence in Abuja. I have not used them so I here place a disclaimer that I dont personally know the quality of their services. Good luck.

APT SECURITIES AND FUNDS LIMITED

Federal Mortgage Bank House,
Plot 266, Cadastral AO, Central Business District, Garki-Abuja.
Tel: (234) 09-2340095; (234) 09-4618115; (234) 09-4618116.
Fax: (234) 09-2340096

info@aptsecurities.com

hi guys
pls does any1 have info on Fidelity,AIICO & Japualoil certificates? It' like its taking forever 4 them to be released
Thanks

bioye,thanks i'll check the place out.

Pls does anyone have info on the bank PHB allotment schedule?

Father of 2,
Please, I want your candid opinion/advice.
Before I start, I must state it here that Pumping has warned me about CASHCRAFT but I didn't listen; that is now history.

This is my story, please I beg you, take your time and read it:
I took 3m loan from a bank by presenting some share certificates (not yet verified) and a list of stocks in my cscs account mostly banks' stocks(not consented by my stockbroker). The bank manager accepted them on personal recognition and for the fact that the sum value of the stock is over 200%  of what they are giving me as against 130% their offer letter asked for . Although, he informed me that the collaterals must be perfected before their year-end.

Some time last month when Dangote SR announced their intention to give 1 to 5 bonus share and 50k dividend, I instructed my stock broker(Cashcraft) to sell my 20k units of UBA and buy 20k of DSR and add to 22k I have already in order to maximise my bonus and sell off immediately after the closure date. Unfortunately, my account officer in CashCraft erroneously put for sale 50k of UBA(which I didn't have up-to) and 50k of DSR as against 20k I instructed him. The next day, when my order was not purchased and my UBA was not sold, he called me and tried to explain that the mistake was why the transactions were not carried out . I accepted it in good faith and him to amend and rebook.

Before then, I had sold some of my insurance stocks and asked Cascraft to buy Trancorp with the money realised. They sold my insurance but could not buy Transcorp then. When the price went up too high, I asked them cancel the order.

As at the week before, and that of Easter, nothing was done then i travelled. There in the village I didn't have access to the internet so i couldn't monitor my account. When I returned from my Easter break and accessed my account with CasCraft, I discovered that My account was seriously on huge debit. Behold CashCraft bought 50k of DSR for me at NGN47.5 on credit and debited my account without my consent. Secondly, they bought Transcorp at NGN4.4 after I had cancelled the order leaving my account with over 3m debt and NGN20,000+ interest within few days. When I confronted my account officer, he argued that I didn't cancel the Transcorp order(a lie from the pit of hell). I accepted it because there was no written evidence to prove my case. As for the DSR, he has no cover for that and then offer to sell it off at NGN38+ after the marked down. But then i considered the fact that if he goes ahead to sell the DSR, I would lose over NGN400k, I asked him not to sell believing that the price will appreciate so that I will reduce the loss, hence the waiting game commenced.

Last week my Banker drew my attention to their end-of-year therefore the perfection of the collateral becomes imperative/imminent. He wanted me to sign a document for the placing on lien my stock(banks') with my stockbroker. I asked him to hold on knowing fully well that CashCraft would like to recover their 'imposed loan' and all their interests first before looking at the request of the bank. Which means that they will sell NOW and believe me, with the current bearish reality in NSE, I will be badly hit(losing over a million, charges, interest and time not included) if that happens. On the other hand, If I posit obstinately and refused to sell, I would have committed amorality suicide for betraying the trust of my banker friend.

The above is my story: a man in a dilemma; between the devil and the Deep Blue Sea.
NOW, WHAT DO I DO?
I want you to advise me as you would do to a friend and also as a professional in the field. God bless you.

jonyjoscom:

Father of 2,
Please, I want your candid opinion/advice.
Before I start, I must state it here that Pumping has warned me about CASHCRAFT but I didn't listen; that is now history.

This is my story, please I beg you, take your time and read it:
I took 3m loan from a bank by presenting some share certificates (not yet verified) and a list of stocks in my cscs account mostly banks' stocks(not consented by my stockbroker). The bank manager accepted them on personal recognition and for the fact that the sum value of the stock is over 200% of what they are giving me as against 130% their offer letter asked for . Although, he informed me that the collaterals must be perfected before their year-end.

Some time last month when Dangote SR announced their intention to give 1 to 5 bonus share and 50k dividend, I instructed my stock broker(Cashcraft) to sell my 20k units of UBA and buy 20k of DSR and add to 22k I have already in order to maximise my bonus and sell off immediately after the closure date. Unfortunately, my account officer in CashCraft erroneously put for sale 50k of UBA(which I didn't have up-to) and 50k of DSR as against 20k I instructed him. The next day, when my order was not purchased and my UBA was not sold, he called me and tried to explain that the mistake was why the transactions were not carried out . I accepted it in good faith and him to amend and rebook.

Before then, I had sold some of my insurance stocks and asked Cascraft to buy Trancorp with the money realised. They sold my insurance but could not buy Transcorp then. When the price went up too high, I asked them cancel the order.

As at the week before, and that of Easter, nothing was done then i travelled. There in the village I didn't have access to the internet so i couldn't monitor my account. When I returned from my Easter break and accessed my account with CasCraft, I discovered that My account was seriously on huge debit. Behold CashCraft bought 50k of DSR for me at NGN47.5 on credit and debited my account without my consent. Secondly, they bought Transcorp at NGN4.4 after I had cancelled the order leaving my account with over 3m debt and NGN20,000+ interest within few days. When I confronted my account officer, he argued that I didn't cancel the Transcorp order(a lie from the pit of hell). I accepted it because there was no written evidence to prove my case. As for the DSR, he has no cover for that and then offer to sell it off at NGN38+ after the marked down. But then i considered the fact that if he goes ahead to sell the DSR, I would lose over NGN400k, I asked him not to sell believing that the price will appreciate so that I will reduce the loss, hence the waiting game commenced.

Last week my Banker drew my attention to their end-of-year therefore the perfection of the collateral becomes imperative/imminent. He wanted me to sign a document for the placing on lien my stock(banks') with my stockbroker. I asked him to hold on knowing fully well that CashCraft would like to recover their 'imposed loan' and all their interests first before looking at the request of the bank. Which means that they will sell NOW and believe me, with the current bearish reality in NSE, I will be badly hit(losing over a million, charges, interest and time not included) if that happens. On the other hand, If I posit obstinately and refused to sell, I would have committed amorality suicide for betraying the trust of my banker friend.

The above is my story: a man in a dilemma; between the devil and the Deep Blue Sea.
NOW, WHAT DO I DO?
I want you to advise me as you would do to a friend and also as a professional in the field. God bless you.

Man, I really feel bad for you after reading this post. I dont know if my advise will be of any help. First of all talk to ya banker friend and explain your situation to him, he might be of help. Also, i believe at the long run, you should be able to live with yaself if you sell and settle the bank. Abeg take am easy and use this as a learning process and hopefully, you will make the money back again soon.

another option is to find lawyer and sue cashcraft for error. I dont know how this will pan out in naija, but i know in developed countries, its a piece of cake to file a lawsuite for stuff like this.

@JONNYJOSCOM,

i KNOW THIS POST IS FOR FATHEROF2 BUT IT IS TIME TO EXPOSE CASHCRAFT FOR THEY ARE.

THE SECURITIES TRIBUNAL NEEDS TO KNOW ABOUT THIS. BLUEBAND, PUMPING AND SO MANY OTHERS HAVE BEEN AFFECTED.

CAN YOU GUYS COME TOGETHER AND SUE CASH CRAFT OR AT LEAST MAKE A COMPLIANT TO THE TRIBUNAL.

I HAVE ALSO FOUND OUT THAT THESE RELATIONSHIP MANAGERS ARE DEATH TRAPS. THEY NEED CLEAR AND CONSCISE INFORMATION. NOT JUST PHONE CALLS. ALL CORRESPONDENCE MUST BE DOCUMENTED.

I DON'T HAVE THE EXPERTISE TO ADVICE YOU ON WHAT TO DO BUT @FOF2, WANAJO, PUMPING, EASIMONI, YOUR HELP IS REQUIRED.

@fatherof2 how u dey?

You dey look Airservice and CCNN?

Transcorp investors to get dividends next year
By Bertram Nwannekanmna

INVESTORS in the Initial Public Officer (IPO) of Transnational Corporation Nigeria Plc (Transcorp) may be paid their first dividend next year, according to Mr. Patrick Okigbo, the Chief Finance Officer of the company.

Okigbo, who is also the corporation's Group Treasurer, assured investors at the April 2008 Institute of Directors (IOD) Nigeria members' public and government affairs evening held at the institute's secretariat, Lagos on Wednesday that the organisation was in good health.

Before the statement, investors, who had been following recent happenings in the multi-billion corporation had been entertaining fears of investment loss.

But Okigbo, who stood in for the Group Managing Director of the company, Mr. Tom Iseghoni, said the organisation would stick to the original plan contained in the prospectus during the public offer.

Describing the subscription of the offer as a near success with about 32.6 per cent, he said the corporation would reward its investors for reposing confidence in it.

Okigbo stressed that the current repositioning in the Nigeria Telecommunications (NITEL) by Transcorp would soon bring joy to investors despite the low price the company's stock sells in the market.

According to him, plans are in top gear to secure an investor, which will make the organisation check obstacles to its progress and raise the share price in the market.

Describing the current problems with the privatisation of NITEL as unfortunate, Okigbo said there was light at the end of the tunnel following the resolution of the grey areas which were inimical to the working of NITEL.

Okigbo, who spoke on the topic "Global sector trends: Transcorp and Nigeria opportunities," said the country could ride the global wave to join the league of industrialised nations if an enabling environment was put in place.

He criticised the involvement of government in business, stating that global trends demanded that the private sector must drive the economic engine.

Describing Transcorp as a unique vehicle to lead the charge, he said the organisation was in tune with the seven-point agenda of President Umaru Musa Yar'Adua and had structured the operations of the company in five areas of project management, infrastructure development, agriculture and brain drain reversal.

He said investors would start enjoying the dividend of their investment as soon as the exercise was completed.

Reacting to the recent strike action embarked upon by NITEL employees over unpaid salaries, he said the incident occurred because the company lacked money to pay them.

According to him, the strike has raised several questions relating to financial impropriety, which made NITEL inefficiency in the past years.

Earlier, President of the institute, Olusola Dada, had said Transcorp was invited to attend the meeting because the company represented the hope to complete the nation's last phase of privatisation.

He said the institute was worried by developments in Transcorp, especially as it concerned NITEL.


Hmmmmmmmmmm

';'/

debenzd:


I HAVE ALSO FOUND OUT THAT THESE RELATIONSHIP MANAGERS ARE DEATH TRAPS. THEY NEED CLEAR AND CONSCISE INFORMATION. NOT JUST PHONE CALLS. ALL CORRESPONDENCE MUST BE DOCUMENTED.

Well said

debenzd:


You dey look Airservice ?

Yes,I dey look am.Have some kg's already but the current price makes it very very tempting to be loaded up on.
Not just Airservice though,but a couple of other stocks with sound fundamentals that are currently reeling from the turbulence of this bearish weather,I don't think there's a better time to enter than now.
I'm on my marks already,just waiting for something so it'll be set , go

I am told the following stockbrokers are doing some private placements:- Valueline Securities, Profund Securities and Dominion Securities. Can somebody please tell me the best of the three and how I can benefit from the PP. Thank u.
akunle.

Japaul Oil gives 100% allotment to investors with 50,000 uni
Posted Friday, April 25, 2008
-embarks on special placement.
PETER OBIORA

Proshare NI
April 24, 2008 at 16:19 GMT
Japaul Oil & Maritime Services Plc has given a 100 percent allotment to investors who bought between the minimum of 1,000 to 50,000 units. Gboyega Babalola, Managing Director (MD) of Sterling Registrars Limited, Registrars to the offer confirmed this to Proshare NI in Lagos Nigeria.
“The Japaul allotment compared to other allotments was fair, equitable and the best allotment so far, shareholders who bought from the minimum unit of 1,000 to 50,000 units were accommodated and given 100 percent allotment” he said.
Babalola also confirmed to Proshare NI that in this category alone, there were over 197,000 shareholders. “If you analyse other allotments by other companies, believe me sincerely; there was no allotment like that of Japaul Oil” he noted.
“The Japaul Hybrid offer was over 500 percent oversubscribed; with 400,000 investors taking part in the offer” Babalola said.
He affirmed that the company conducted a special placement to accommodate some investors that were not initially allotted.
Though as at the time of filling in this report, Proshare NI could not confirm, the basis of allotment for the special placement meant to accommodate more investors; who originally did not get what they wanted.
He also confirmed to Proshare NI that a total of N730 million has been returned to investors who could not be accommodated in the Rights Issue. “Some investors have received their return money for the Public Offer (PO), however, due to the special placement they did to absorb more funds I cannot readily tell you the amount returned so far” he said.
Prior to this time, Japaul Oil sort to raise about N5.0 billion through a hybrid offer to finance the company’s expansion programme in the key areas of its business, by offering 1,007,488,188 ordinary shares of 50 kobo each at N3.95 per share to members of the investing public, and 291,549,045 ordinary shares of 50 kobo each at N3.50 per share.

@all
What are views on this.

Princesege:

Japaul Oil gives 100% allotment to investors with 50,000 uni
Posted Friday, April 25, 2008
-embarks on special placement.
PETER OBIORA

Proshare NI
April 24, 2008 at 16:19 GMT
Japaul Oil & Maritime Services Plc has given a 100 percent allotment to investors who bought between the minimum of 1,000 to 50,000 units. Gboyega Babalola, Managing Director (MD) of Sterling Registrars Limited, Registrars to the offer confirmed this to Proshare NI in Lagos Nigeria.
“The Japaul allotment compared to other allotments was fair, equitable and the best allotment so far, shareholders who bought from the minimum unit of 1,000 to 50,000 units were accommodated and given 100 percent allotment” he said.
Babalola also confirmed to Proshare NI that in this category alone, there were over 197,000 shareholders. “If you analyse other allotments by other companies, believe me sincerely; there was no allotment like that of Japaul Oil” he noted.
“The Japaul Hybrid offer was over 500 percent oversubscribed; with 400,000 investors taking part in the offer” Babalola said.
He affirmed that the company conducted a special placement to accommodate some investors that were not initially allotted.
Though as at the time of filling in this report, Proshare NI could not confirm, the basis of allotment for the special placement meant to accommodate more investors; who originally did not get what they wanted.
He also confirmed to Proshare NI that a total of N730 million has been returned to investors who could not be accommodated in the Rights Issue. “Some investors have received their return money for the Public Offer (PO), however, due to the special placement they did to absorb more funds I cannot readily tell you the amount returned so far” he said.
Prior to this time, Japaul Oil sort to raise about N5.0 billion through a hybrid offer to finance the company’s expansion programme in the key areas of its business, by offering 1,007,488,188 ordinary shares of 50 kobo each at N3.95 per share to members of the investing public, and 291,549,045 ordinary shares of 50 kobo each at N3.50 per share.

@all
What are views on this.

I was given only 1.25% of what i subscribed for. Now, i didnt recieve my returned money yet.

I also heared japaul might be havent another supplimental allotment to accomodate those who didnt get what they wanted.

So I dont know how this is gonna pan out for people like me who already recieved their certificate with less to nothing allotment. Anyone, with a clearer explanation to this should please contribute it here.

@jonyjoscom

its a pity the havoc your accounts officer has committed, am with cashcraft too, they should do more in terms of refresher courses for staff. Also their online portal should be upgraded.

@ All

my dear nairalanders, please know that these are deaperae times and evryone is out to chew as much as they can not minding whose bum they bite off. i am saying this with regards to how often many of us get screwed by some of these nasty brokers. so after doing your due dilligence and you decide to buy or sell, please please please put such correspondence in writing or at the very least email and try and insist on an acknowledgement.
and its high time we start a name shame and boycott thread. my story i will not bother telling, suffice to say we gave ourselves shit that threatened to pull down the house. as for those of you still with cash craft and the other incompetents what are you still doing there? to be forewarned is to be ,

Hi All

I got a surprise email from AFRINVEST last week Friday stating that MTN has paid interim dividend for 2008.
As a subscriber to the PP in January 2008, they needed my bank details to credit dividend due to me. (That was one good black news in my red, red, and red potfolio!!!)

The import of my posting here is that MTN and AFRINVEST are pretty much foreign firms, and by any standard paying interim dividend now for investment made third week of January 2008 is quite impressive. Can this happen if MTN or AFRINVEST is a truly Nigerian firm. I doubt it very much. I remember MTN and Chams PPs were out about the same time, any news on Chams??. 


I can safely guess that most of us here have done few PPs with wholly Naija companies and have not heard a word in many months.  This is another lesson learned for me that, "who is running the company is as important as how much the company will make",

BTW, I do not intend this to be a bashing of Nigeria b/c I love it dearly, but just think we have some ways to go in some basic transparency issues.

@ Rasputinn - Sorry, no idea about the payment date for Oando.

jonyjoscom:

Father of 2,
Please, I want your candid opinion/advice.
Before I start, I must state it here that Pumping has warned me about CASHCRAFT but I didn't listen; that is now history.

This is my story, please I beg you, take your time and read it:
I took 3m loan from a bank by presenting some share certificates (not yet verified) and a list of etc etc

My man, I really feel for you. The mistake has already been done, so first one has to salvage what one can.

You have accepted the Transcorp issue since you cannot prove you cancelled the order, so accept this.

Regarding DSR, they must reverse the transaction and bear the cost. This is not as difficult as it seems. Like I complained in my post on Cashcraft, they bought N1m worth of Fidelity for me instead of selling. They have reversed the transaction and they bore all the costs. Simple enough. I don't see why you will not insist on this. I don't know how this plays out regarding how much time you have but I don't see any option. It makes no sense to sell this and bear the cost on your own. Please don't take this lightly. Let them know you will take this as high as necessary if they are not being helpful.

Whatever the case, you need to do your best to meet up with your obligations to your bankers. They should not have to take the brunt for the innefficiencies of Cashcraft.

Good luck.

Please don't give mandates via the phone. This can be a backup but always send an email or minimum, at text message.

I think the end of this week (already gone) and next week are the times to re-enter all these stocks that have been hammered by the bears. I will expect a mini bull run towards the end of next week for short termers but this will not last long at all.

So the option is to try to time this, which is quite difficult, or hold on to your money for the next 3 months or so and siddon look.

Pls where is everybody oooooo. Wanajo, windywendy, aktopgun etc . pls come back ooooooooo