I want to say a big congratulations to those who qualified this diet.. I am so sure that the joy in your heart is immeasurable , that is how it is , success is very sweet and you have not seen anything yet, wait till your induction day , you will understand what I am saying more. for those who didn't make it this time , let the success of others be a motivating factor for you. don't EVER think of giving up, that is the last thing that should cross your mind, you will eventually get there. I wrote MA 4 times, I was devastated , and when I passed, it was as if I qualified. I eventually qualified Nov 15.. it was a wonderful experience. PLS DONT GIVE UP.

please guys, I really need study materials for corporate reporting...I will be glad if any one can help pls...send to kayoed.sobanjo@hotmail.com

please I need study pack for corporate reporting, SFM and Tax. my email kayoed.sobanjo@hotmail.com. please

Please, I need materials on corporate reporting and case study. My email address is kayode.sobanjo@Hotmail.com. Thanks

Please, I need materials on corporate reporting and case study. My email address is kayode.sobanjo@Hotmail.com

pls I need corporate reporting and case study. my email addy is kayode.sobanjo@hotmail.com

pls i need the seminar materials..... my email add is kayode.sobanjo@hotmail.com..... thanks

this is so crazy.>>

2 baba.......U too fine jor

LMAO first lady for dis amount>.>.> guy u are so funny

hey,guess wat i am in the same situation right nw,if not worse,my girlfriend got a word in church dat i am truely her future husband,she belives so much dat we cant give birth to SS.but sincerely,i dont think i ve dat kind of faith,i am still confussed on wat 2 do,my mum has told me to leave her,but believe me,its not easy.but in situation like dis,i believe God sees the begining from the end.if we are mearnt for each other God word ll surely come to pass.if not,well, but as at nw,i am planning to use my head not my heart,

I work as a Stockbroking Agent.Yes.And i am happy with my job.
I work as a Commissioned-based Agent to a Stockbroking firm.
Recently i was offered a regularisation to become a full time salary staff- an offer that many
would have jumped at, I REJECTED IT !
I want my freedom.I want the satisfaction that comes with setting my goals and
pursuing them at my pace.I want to calculate how much i want to earn and work at it.
I have earned close to 1million Naira in 6 months and still counting, I am sure of earning
over 1.5million Naira this year as Stockbroking Agent.
I am always shocked to see or hear people complain about unemployment or joblessness.
I think it is as a result of being unskilled or lack of vision.There are many places you can put your
skill and earn good money without a boss breathing down your neck.And one of those places is the
stockmarket and working as a Stockbroking Agent.You can earn more than salaried workers if you work
hard and smart.
For detailed info on how to become a Stockbroking Agent and how to earn over 1.5million Naira
a year,send an email to:
stockscentre at yahoo dot com
0702 502 3818

The Nigeria Stockmarket has been growing from strength to strength.It has attracted over 1 million new
investors in the past year and the number of new investors keeps increasing.This has raised demand for
more Stockbrokers and consequently opened door of opportunity for Nigerians who wish to earn good
income offering services to investors.

You can earn over 1.5million Naira a year working as a Stockbroking Agent without much stress.
For information  on how to become a Stockbroking Agent or how to earn over 1.5m Naira as a Stockbroking
Agent, send an email to: 
stockscentre at yahoo dot com
07025023818

i have a new member in the house.and she wants to know what p e ratio is

o boy WEMA has really suprised mii o it gained 5% yesterday.for UBN IT IS A GOOD TIME TO SELL.

These Wema guys are great artistes, they know how to play this game!
Men i am loving this, i am loving WEMA

Japaul Oil Plc  released their financial results on the floor of the Nigerian Stock Exchange today.


Japaul Oil Plc                     Turnover              PBT            TAX                 PAT
                                        =N='000        =N='000        =N='000         =N='000
30-Sep-07       9 Mths      1,793,000        370,460        52,892          317,568  
30-Sep-06       9 Mths        621,210        131,699        32,924            98,775  
                                       
                                         188.6%           181.3%                              221.5%

Proshare News and Analysis
BAGCO: N7.27 bn IPO opens Nov 7
Posted Tuesday,6 nov
The Initial Public Offer (IPO) of Nigerian Bag Manufacturing Company Plc (BAGCO) is to commence November 7, 2007. The company is offering to the public 1.87 billion ordinary shares of 50 kobo each at N3.90 per share. This was after its shareholders approved its decision to raise the funds through the capital market. The offer which is scheduled to close on 14th of December 2007, is 80 per cent underwritten on a firm basis by Zenith Bank Plc.

The offer, according to the offer document, is undertaken to give investors opportunity to become part owners of the company which is currently a wholly owned subsidiary of Flour Mills of Nigeria Plc. After the conclusion of offer, Flour Mills 100 per cent holdings will be reduced to 70 per cent while the remaining 30 per cent will belong to investors in the IPO.

The Managing Director of the company, MR. Peter Soutar Low, disclosed that the proceeds of the offer would be utilised to settle current deposits which it incurred in the process of the making the company an efficient manufacturer of different types of bags.

He said, “The estimated net proceeds of the offer of N6.95 billion after deducting the cost of the offer, estimated at N320.76 million will be utilised in the repayment of loans valued at N6.26 billion, representing 90 per cent of the offer proceeds, while N695.27 million representing 10 per cent would be used as working capital, in addition to the fact that it will make it possible for the company to meet the requirements for listing on the Nigerian Stock Exchange (NSE).
It forecasts a turnover of N12.46 billion, N15.45 billion and N17.15 billion for years 2008, 2009 and 2010 respectively and a profit after tax of N1.07 billion, N1.67 billion and N1.89 billion respectively.
It promises to pay its shareholders a dividend of 17 kobo per share in the 2008 and 2009 financial year while they will be enjoying a dividend of 18 kobo per share in 2010.
It disclosed that with the coming on stream of United Cement Company of Nigeria Limited (UNICEM) in 2008, its bottom line will be boosted considerably, as it is the supplier of first choice to the company. “In addition to its existing markets, Bagco is supplier of first choice to UNICEM which is due to come on stream in 2008 and it is ready to take advantage of this.
It is generally accepted that Nigeria’s appetite for cement will continue to grow strongly for the foreseeable future.  In conjunction with its dominance of its core market, it is embarking on other areas of packaging. Bagco Morpack will produce high quality film packaging for the consumer products industry,” The prospectus noted.  - Vanguard

For Stockbroking services,free investment advice and ?
  Contact:Kayode,DE-CANON INVESTMENT LTD
                            4TH FLOOR,WESLEY HOUSE,
                            21/22 MARINA,LAGOS
                          tel no 08038437516  or  012647273
                         my e mail:talk2temi2002@yahoo.com

Proshare Articles
Re: SEC, Share-Buy-Back and Shareholders
Posted Sunday, November 4, 2007
An article titled “SEC dismisses the clamour for share buyback by shareholders, published on October 26, 2007 by Vanguard newspaper noted that the Securities and Exchange Commission (SEC) stated that the Companies and Allied Matters Act (CAMA) and Investment and Securities Act (ISA) 1999 have no provision for companies to buy back their shares as demanded by some shareholders’ group. The Deputy Director/Head, Legal Services of the SEC, Mr. Edessa K. Aigbekaen stated that “If a company buys back its shares, such company would be reducing its capital. Therefore, the SEC does not allow companies to reduce their capital under normal circumstances. If companies are allowed to buy back its shares, it means they would be using the shareholders’ fund.”

I beg to respectfully disagree with Mr. Aigbekaen’s and the SEC position on this issue. Buying back shares is a very smart and fundamentally sound strategy for companies with too many shares outstanding. Share buy back is continually used by companies in developed capital markets all over worldwide. For example, in 2006, Microsoft Corporation bought back 1.6 billion of its shares from the open market by spending $40 billion dollars. In October 2007, General Electric Corporation announced that it will spend $14 billion to buy back its shares. Microsoft Corporation which had 10 billion shares outstanding at that time, was not perturbed about reduction in capitalization. Companies usually buy back shares with funds from excess cash flow or free reserves. When companies buy back shares using free reserve funds, a sum equal to the nominal value of the shares purchased is transferred to the capital redemption reserve and details of such transfer shall be disclosed in the balance-sheet. As a shareholder, I would rather have the companies that I am invested in buy back shares, because the advantages of the buy back strategy outweighs it disadvantages as highlighted below:

Advantages of Share Buy back:

· Reduces the amount of shares in circulation. Therefore, future profits are spread across fewer shares to potentially increase a company’s earnings per share and the value of its shares.

· Build up of investor confidence and shareholder loyalty by increasing return on equity; and increases the company’s debt-equity ratio through shifts in financing structure.

· Signals to the capital markets and investors that the company’s stock is undervalued.

Disadvantages of Share Buyback:

· Share buyback reduces cash flow from operation that could be used to generate more revenue, increase earnings, and pay dividends.

It is important for the SEC to differentiate the issue of a company’s capitalization from the company’s solvency. Large capitalization does not translate to solvency of a company. For example, when Enron filed bankruptcy in 2001, it was the 7th largest company by capitalization in the United States. SEC and investors should not be overly concerned about capitalization of PLCs’, but rather the emphasis should be placed on the fundamental strength (PE ratios, free cash flow, dividend, payout ratios, EPS, earnings growth rate, ROI, ROE, etc) of a company. At this juncture, the SEC should not be concerned about the reduction of capitalization of banks in Nigeria, because currently the capitalization of each of the 20 banks in Nigeria far exceed N25 billion, the threshold previously set by the Central Bank of Nigeria.

As noted in the Vanguard article, several shareholder groups in Nigeria do not want PLCs’ to implement share reconstruction. As most of these investors recall, in 2006 and early 2007, several banks performed share reconstruction, but subsequently increased their number of shares outstanding through new secondary offerings. Reviews of the number of shares outstanding for some of the highly capitalized PLCs’ reveal that their outstanding shares exceed 10 billion. With these amounts of outstanding shares, it will be difficult for the stock price of these companies to experience any significant up trend. Additionally most of these companies will be unable to declare significant bonus shares in the future, since they already have too many shares outstanding.

Although bank’s like Access and PHB have seen their shares appreciate by 214% and 117% respectively since the conclusion of their share reconstruction (Note the percentage for PHB is based on the pre-bonus (1 for 4) price of N35.25k and the post reconstruction price of N16.00k), but studies and research have shown that internationally most share reconstruction usually have placid results (Jacobs, T. March 2003).

Although studies might have shown that results of Share Reconstruction are placid, the strategy has its advantages and disadvantages as shown below:

Advantages:

· It decreases the number of shares, but not the value of shares held by shareholders. Each shareholder’s proportionate ownership of outstanding shares of common stock would remain the same.

· Results in more acceptance of the company’s shares by the financial community and the investing public due to the higher stock price.

· Since the company did not use internal funds to buy back shares, they will have more funds to pay dividends and invest in alternative investments that might generate more revenue and profit.

Disadvantages:

· The reduced number of shares resulting from a reconstruction could adversely affect the liquidity of a company’s common stock.

· A significant devaluation of a company’s market capitalization might result, if the company’s stock price declines rather than increase after the reconstruction.

· If the share reconstruction is implemented and the market price of the company’s share price declines, the percentage decline may be greater than would occur in the absence of a reverse stock split.

· Share reconstruction may leave certain shareholders with one or more “odd lots,” These odd lots may be more difficult to sell because their might be no incentives for the brokers to sell these shares because of the low commissions.

Conclusion:

The decision on whether a company should implement a share reconstruction, or share buyback strategy should be left to the company and their shareholders. However, I believe the SEC and the NSE should implore the president and the legislature to amend Companies and Allied Matters Act (CAMA) and Investment and Securities Act (ISA) of 1999 to include a provision for share buyback. Amending these types of Acts will not be peculiar to Nigeria. In 1998, Indian Companies Act of 1956 was amended to permit buyback of shares by companies. Prior to the amendment of the Act, Indian companies were not required to buy bank shares (Indian Express, Oct 1998). Therefore, the amendment of the CAMA & ISA is possible in Nigeria, if the SEC and NSE want it done.

Chukwumah Biosah is the President of CEBABL Audit Group, based in Los Angeles, California and an adjunct Professor at University of Phoenix, U.S.
Copyright © 2004 - 2007 ProShare Limited. All rights reserved

my guy  just flee.its not worth it at all.u guy can still be friends to show u care

for an entry level graduate 40 - 50 k should do