@all.
This is a good development for investors. 1st Bank has already started the implem,entation.
Read on.


Proshare Articles
E-dividend payment in Nigeria
Posted Thursday, May 8, 2008
E-dividend payment -Specific responsibilities for stakeholders


To aid implementation, various stakeholders are saddled with the following responsibilities.



Securities and Exchange Commission (SEC)



Release rules and guidelines on e-dividend




Roll out enlightenment programmes


Direct Registrars to put Information and Communications Technology (ICT) infrastructure.


Direct Companies to incorporate e-dividend in their Annual General Meeting (AGM) notices.


Organise formal launching of the e-dividend payment system.


Nigerian Stock Exchange (NSE)



Buy into the product


Modify share transfer form to incorporate e-dividend payment information


Give circular, directing companies to incorporate e-dividend information on AGM notices.


Central Securities Clearing System (CSCS)



· Ensure that all transaction updates for the closure of registers get to Registrars at the due date.

· Liaise with Nigerian Interbank Settlement System (NIBSS)



Companies



Meet payment obligations immediately after AGM, failure to do so will attract sanctions.


Include e-dividend forms requesting for shareholders accounts details for e-dividend payment in the notices of companies AGMs


Registrars



Compile list of interested shareholders


Update their ICT systems to ease linkage to NIBSS platform
Educate shareholders on benefits of e-dividend payment system and provide current account information.


Send notices of dividend payments to shareholders via SMS, e-mail etc.


Modify share transfer form to include bank account and other details to facilitate e-dividend payment.


Tax Authorities



Work with Registrars to prepare a standardised e-dividend payment data form for completion by every shareholder


Provide evidence of tax payment on dividend by shareholders post on (website)




Nigerian Interbank Settlement System



Together with Registrars to produce a file format for capturing of shareholders information.


To prepare standardised e-dividend payment data form for shareholders to complete.


To verify and authenticate files received from Registrars for confirmation of data integrity and source.


To submit file same day to all banks in Nigeria for the accounts of named e-dividend beneficiaries to be credited.


To return unapplied funds to Registrars through a reverse channel.


To send compliance report to SEC to confirm the transfer of funds.


To return unapplied funds.


Banks



· Authenticate forms for e-dividend mandate, sign and stamp such forms at minimal or no charges.



· Credit beneficiaries’ accounts within 24 hours of receipt of e-dividend through NIBSS.



Stockbrokers



Modify share transfer form to include bank account and other details for payment of e-dividend.
Press



Create comprehensive and sustained public awareness of the new process.




The implications for stakeholders are as follows:



All shareholders are expected to open bank accounts or update their bank account information and forward same to their Registrars.


Stockbrokers are to update their Initial Public Offer (IPO) form to include shareholders bank account information for the benefit of new investors.


In line with the new policy, all companies must meet their obligations and dividend payments. The NIBSS are expected to effect e-dividend credit into shareholders accounts within 24 hours of dividend declaration by companies.
-SEC

debenzd:

@ Fatherof2, I no understand this Fidelity talk. Do you mean that the resistance level of 10.5 has been attained? You know PO shares never enter so I suspect that the price may get to like 9 naira because of there overbloated share capital.
I am wary of Fidelity. See how PHB has started crediting people's CSCS with the shares. PHB is not going anywhere for now. Same with Zenith. na just to wait out the period and position when t has really dipped enough. Abi how u see am.

Fidelity was overbloated pre PO. I think it has fallen quite well. Besides, if we confirm the market this week as being fully "Bullish", sentiments will change.
In a bullish market, prices tend to hold their resistance more and longer. When sentiments are negative during a bearish market, people will do anything just to get out, that is what breaches resistance. Right now the last drop in Fidelity's moving average is less than its worst moving average drop in last 3months. That is a good sign.

FatherOF2:

Fidelity was overbloated pre PO. I think it has fallen quite well. Besides, if we confirm the market this week as being fully "Bullish", sentiments will change.
In a bullish market, prices tend to hold their resistance more and longer. When sentiments are negative during a bearish market, people will do anything just to get out, that is what breaches resistance. Right now the last drop in Fidelity's moving average is less than its worst moving average drop in last 3months. That is a good sign.

Surely u mean support and not resistance

@fatherof2, what is ur take on skye and phb?

Bank phb is crediting CSCS a/c for the last P.O, mine has been credited.

abeg make una help me.
anybody sabi anything about universal insurance?

Fellow Nairalanders i've got info on the biggest Juciest Private Placement ever in the history of Nigeria. The big one is finally here. Watch out folks. [flash=200,200][/flash]

esoneek:

abeg make una help me.
anybody sabi anything about universal insurance?

@esoneek,
Universal Insurance listed 16 billion shares,its like they finally increased it to 19 billion.It will be a case of share reconstruction and technical suspension.For now they have nothing to offer.Flee or u may hve your fingers burnt in the shortest time,

Pls I want to buy 100,000 units of Investment and Allied Assurance PLC because of its pennystock nature.
I shall want your opinion on its viability both in the long and short term

akunle

@ my peace,
How can i check the latest update on my cscs acc. My latest update was on 29th feb.

@fatherof2,
Have 1m to put in one stock for 6months. Plz, what three stocks to consider? those with potential to double. Thanks

Tetrazini the famous fast food chain recently opened up for selective investors an opportunity to partake in their Private placement offering. .
They have since closed selling to the public after a week of sales. . the offer went for N6 per unit and at a nominal value of N1. . We curently selling some units at N8 per share. . . (please put in mind the nominal value).

Anyone interested in picking up some units can reach me on adolpae@yahoo.com or telephone +234-802 9051 632

Has any one recieved International Bew. Cert and Japaul is sending certifcates in batches,i guess.

Currently Nacho and Fcmb is dispatching andf you should get them sooner also.

Nite

Guys,
The allotment for AIICO is finally out. You can read ot on pages 58 & 59 of the guardian newspaper.
As expected, It wasn't good

5000 - 10,000 100%
10,001 - 20,000 84.48%
20,001 - 50,000 42.92%
50,001 - 100,000 35.93%
100,001 - 1,000,000 22.52%
1,000,001 - 10,000,000 13.19%
10,000,001 - 100,000,000 4.43%
__________________

ernal:

Guys,
The allotment for AIICO is finally out. You can read ot on pages 58 & 59 of the guardian newspaper.
As expected, It wasn't good

5000 - 10,000 100%
10,001 - 20,000 84.48%
20,001 - 50,000 42.92%
50,001 - 100,000 35.93%
100,001 - 1,000,000 22.52%
1,000,001 - 10,000,000 13.19%
10,000,001 - 100,000,000 4.43%
__________________

Talk of dejavu, this post just seems too familiar like I could hear myself talking

@King

l dont have access to CSCS website. My broker checked it for me and forwarded d details to my box.

@ All,

Tetrazini the famous fast food chain recently opened up for selective investors an opportunity to partake in their Private placement offering. .
They have since closed selling to the public after a week of sales. . the offer went for N6 per unit and at a nominal value of N1. . We curently selling some units at N8 per share. . . (please put in mind the nominal value).

Anyone interested in picking up some units can reach me on adolpae@yahoo.com or telephone +234-802 9051 632

Na wah oh. What's happening to our Capital Market.

case of people being ripped off . A profit of N2 on something worth N6. When are people goin to be their brother's keeper and stop milking from the poor.

How famous is Tetrazinni compared to Food Concepts.

I thot we were to help people on this thread but now everyone on Nairaland has turned to a broker.

Na wah oh.


Anyway,

@ Fatherof2, I dey loyal,

@ Pumping, thanks for the support on the thread,

@ aktopgun, Keep shooting and aiming for the sky.

@ All, get informative and search for concise info. It will help you better.

Cheers

@ All,

When Bull Clash with Bull for NSE.

Ololufemi, long time!! How you dey?

Every one ought to get paid for services rendered. Yet to understand why people are willing to pay premium for some PPs

Hi all
Hope you are enjoying the bull run.

How is your folio?

HUSU na true u dey talk , abeg expansiate on this ,i invested in universal cos i thot they had a low price in a good sector.
and pls when do they suspend a company's stock?

Fellas,
Pls whats CICO and whats PRESCO?
Give a scenario to clarify these two concepts.
Thx.

@esoneek,assuming they achieve aPAT of say 500mil,which may not be possible,then divide 500mil by 16 bil to get the EPS,like .03k,u may bre talking of dividend of .01k. _{Just an assumption sha}

@ Grouppoint

CICO (According to Roughcut simplified learners dictionary of contemporary NSE English) stands for cash in,cash out.It's the practice of buying stocks @ a particular price and selling off @ a price higher than the initial price within a VERY SHORT time frame.

On the other hand,PRESCO is the name of my brother-in-laws company

ololufemi:

@ All,

How famous is Tetrazinni .

My point exactly,what;s their spread?
For crying out loud,big treat has a wider spread across the geo political zones of the country,they did their PP @ less than 3 naira,didn't get @ that price hence refused to  pay a premium.
So is it tetrazzini that is by far a weaker franchise that will bleed me?I won't even buy @ 2.50

feels so good to be back HOME!!!!!!!!!!!!!!!!!!!!!!!


All the gurus in the house i greet thee all with both mortal and immortal powers

MAy ye all live long,

Hi gurus,

What do you think of these 4 stocks for short term? I'm looking at buying significant quantity of each today.

1. Dangote Sugar
2. CAP
3. Nestle
4. Wapco

I'm waiting on you, guys. The time ticks,

@ ALL,

ACCORDING TO RASPUTINN

My point exactly,what;s their spread?
For crying out loud,big treat has a wider spread across the geo political zones of the country,they did their PP @ less than 3 naira,didn't get @ that price hence refused to pay a premium.
So is it tetrazzini that is by far a weaker franchise that will bleed me?I won't even buy @ 2.50

MAKE INVESTORS SHINE THEM EYES OH.

@ OGA WANAJ0,

I HAIL YOU OH. THANKS FOR LOOKING OUT FOR ME.

@ FATHEROF2,

NA YOU BE THE REAL DEAL.

@ ALL,

ANYONE HEARD OF KAPITAL INSURANCE OWNED BY MAJORLY BY UNITY BANK.

CHEERS.

@ ALL,

My point exactly,what;s their spread?
For crying out loud,big treat has a wider spread across the geo political zones of the country,they did their PP @ less than 3 naira,didn't get @ that price hence refused to pay a premium.
So is it tetrazzini that is by far a weaker franchise that will bleed me?I won't even buy @ 2.50

HE IS EVEN SELLING TETRAZINI FROM LONDON. KINDLY CHECK HIS LOCATION.

WONDERS OF THE NIGERIAN STOCK EXCHANGE.

ololufemi:

@ ALL,

HE IS EVEN SELLING TETRAZINI FROM LONDON. KINDLY CHECK HIS LOCATION.

WONDERS OF THE NIGERIAN STOCK EXCHANGE.

@Ololufemi, @Rasputinn

I am not trying to sell Tetrazini from London. You obviously can't get to buy it in London. If I am selling it, it is in Nigeria hence why you saw a nigerian phone number.  I do not have to scam people to make money. I have my businesses and I make legitimate money. Just like I suppose you guys do as well.

To the offer, I think it depends on the way individuals see it. It's an open market.

I personally bought the private placement of Investment and Allied Insurance at N2.50, even though it was originally sold at N2, and with the nominal value on it, (N2 per share) I have made money on the number of units I bought.

I know Brokers that currently sell union diagnostics at N4.50 even though it was sold at N1.85 at PP.
I know brokers that sold IAINSURE at N2 per share (50k nominal value) before it was listed . . . . about 10 million units sold in 3 days or there about.

I bought Gold-Link and Universal Insurance at Premiums and I have made money. Bottom line is there is not any difference between buying private placement and listed stocks in terms of premiums.

When a stock begins to get scarce on the floor of the NSE, people are willing to get into the stock at a premuim for reasons known to them which consequently pushes the price up. We have seen over the years, stocks prices vastly over-valued only because of NIGERIAN sentiments. So whichever way you look at it, we all pay premiums either on the floor or in PPs. The end of it is PROFIT.


I am selling Tetrazini to people who don't have time to CICO or RIRO and the likes. People who just want to invest for the long term.  I hope I have not upset anyone.

@Rasputinn

I will take the "famous" out . . .

Thanks for your comments anyway.

We currently have a number of units of African Alliance at N2.70. Anybody willing to buy can ring +234-802 9051 632 or email adolpae@yahoo.com

Dangote 1st qtr out!

DANGOTE SUGAR REFINARY PLC
UNAUDITED FIRST QUARTER RESULT FOR THE PERIOD
ENDED MARCH 31, 2008
2008 2007 %CHANGE
TURNOVER N20.943b N20.036b 4.53
PROFIT BEFORE TAXATION N8.930b N7.158b 24.76
TAXATION (N2.240b) (N1.790b) 25.14
PROFIT AFTER TAXATION N6.690b N5.368b 24.63