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Re: Nigerian Stock Exchange Market Pick Alerts by yMcy56: 12:40pm On Sep 19, 2023 |
sterlingD:And STANBIC........Wonder what's driving the stock! Closed @75.50 yesterday....... Sighted @83 today........though not yet moved officially...... Now @83.05!! Back to 74........insider dealings..... Can GT and ZENITH ever close this gap? 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by onegentleguy: 12:47pm On Sep 19, 2023 |
Was told that CHAMS is now trading for N1.33. Well, am not surprised at all after it held up against sell pressure at that strong support zone of btw 83-90k Will still break it's YtD high of N1.39 and drive on periods of HH and HL to YE, 2023. The GMD, Mrs Mayowa Olaniyan was recently quoted as saying that; CHAMS plans to deliver triple digit YoY growth in 2023 during the NGX presentation of the firm’s H1, 2023 report. CHAMS will surprise many in the mid to long term! I remember repeatedly highlighting the inherent potential in the coy at the time it was trading for just 20k. ...it has since delivered over 560% ROI! Can it do more? Absolutely! That coy has got loads of potential yet untapped. I did highlight many of them in the past. N1.8--2 is possible in view of current happenings in the company. Congratulations to those who bought then. To the guy I advised to hold his stake after offering to sell it to me (even at a discount from 20k), you are yet to pay your tithe oo! Pls do so, so the ministry can continue to move forward. CAVEAT: NOT an investment advice. The need for due diligence should still take higher precedence ahead of this post. 6 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by onegentleguy: 1:12pm On Sep 19, 2023 |
onegentleguy: https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick/6941#122647861 https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick/6969#123024053 Some years ago, we told folks to hold a higher portfolio weighting in ACCESSCORP ahead of UBA and well, it paid off after the former proved to be fundamentally healthier and more value accretive than the latter, delivering higher CGY in time. In recent times, we also advised folks to do the direct opposite- hold a higher portfolio weighting in UBA ahead of ACCESSCORP (ref: 60-40% in view) following the formers positive restructuring of her footprint/interest within the African region, better cost efficiency occasioned by an improved risk management framework and feasible earnings drive. Well, history has again proved us right. UBA has made us proud! The posts above was put out when UBA was trading @ N8+ and STERLING BANK @ N1.4 We patiently await the YE, 2022 financial report from ACCESSCORP... but until then, UBA remains a HOLD for those who aligned earlier. Pls kindly note that this does not imply that you should exit your holding in ACCESSCORP. ...I was only referencing our initial guide and why we advised a higher portfolio weighting in favour of UBA. You can still hold your stake (that 40%) in ACCESSCORP, unless of course you've met your set out objective and wish to exit. It is well. 10 Likes 1 Share |
Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 2:12pm On Sep 19, 2023 |
Universal Insurance, kilode? 214,348,351 units bought and sold off already. 3 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by lancee(m): 2:14pm On Sep 19, 2023 |
yMcy56: I wish !!..We keep wtching |
Re: Nigerian Stock Exchange Market Pick Alerts by yMcy56: 2:23pm On Sep 19, 2023 |
lancee:Oga lancee you just silent for all these UBA moves......hope you're not out of it sha. Btw, FIDELITY in last minute move....... Much volume exchanging hands in STANBIC... |
Re: Nigerian Stock Exchange Market Pick Alerts by lancee(m): 2:25pm On Sep 19, 2023 |
yMcy56: I still dey sis , we enjoying the remaining till ........... 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 2:26pm On Sep 19, 2023 |
onegentleguy: CHAMS will probably be getting an ICT deal from the FEDs soon. They complained recently of losing money to the National ID card scheme, they might be getting something back. |
Re: Nigerian Stock Exchange Market Pick Alerts by jideflash(m): 2:54pm On Sep 19, 2023 |
the price no still move. I dey storm their AGM on thursday. essentialone: |
Re: Nigerian Stock Exchange Market Pick Alerts by princezino(m): 3:08pm On Sep 19, 2023 |
Wait first o... by definition, Guru is term for a "mentor, guide, expert or master" of certain knowledge or field. In pan-Indian traditions , a guru is more than a teacher: traditionally, the guru is a reverential figure to the disciple (or shisya in Sanskrit, literally seeker [of knowledge or truth]) or student, with the guru serving as a "counselor, who helps mold values, shares experiential knowledge. The wisest gurus are often the most humble. I come in peace 😎 jideflash: 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by crownprince2017: 3:29pm On Sep 19, 2023 |
princezino: 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by crownprince2017: 3:31pm On Sep 19, 2023 |
princezino:[/quote] |
Re: Nigerian Stock Exchange Market Pick Alerts by crownprince2017: 3:33pm On Sep 19, 2023 |
Because u feel you are experience in a way of making money doesn't means you are in control of all means of making money, that is if I considered you to be experience. If you are angry at some people you don't generalize your angry response in order to avoid being disrespected, sometimes, keeping quiet if you can't help will do you alot of good. Mind you, no newbies relied on your experience to get their capitals, let that sinks. For the fact that we need your help today in this area doesn't mean you can't need our help in another area on another platform as nobody know it all. Mind you, investment is just one of the ways of building wealth and not the only one. If you will referred to me as an arrogant person, no matter how much your experience is, kindly pocket it and never bring them out because I believed you have nothing serious to offer me, successful people I know are humble and always ready to help people that seek their help in terms of knowledge. You are no different from Steven akintayo, that always wants to monetize everything. Besides, is your name a guru? I know my gurus and others know who they regard as guru. Thanks the gurus in the house for the valuable job you have been doing, we appreciate you all. [/quote] 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by rmx: 3:35pm On Sep 19, 2023 |
princezino: I like your definition of peace 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by moneymanager: 3:56pm On Sep 19, 2023 |
Oya, you guyz should confess here. Which one of you is pushing UBA stocks like this. There is heaven Ooooo |
Re: Nigerian Stock Exchange Market Pick Alerts by Myhelper1: 4:21pm On Sep 19, 2023 |
moneymanager:UBA is a strong buy even @current price.
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Re: Nigerian Stock Exchange Market Pick Alerts by Hogwarthtrades: 4:57pm On Sep 19, 2023 |
note of caution Dear @onegentleguy do you care to bring clarity to the statement comparing the projection of OANDO and IMG considering their addressable market are like parallel lines. isn't that misleading *Read in Passive tone. The aim of the question is for educational purpose not interrogative * stay blessed Edit: I See IMG has been replaced with SEPLAT in the note. Well done Sir! |
Re: Nigerian Stock Exchange Market Pick Alerts by onegentleguy: 5:06pm On Sep 19, 2023 |
Hogwarthtrades: Had since edited the said post and made the necessary correction. You might want to look at it again. It's clear that IMG (formerly BOC gases) does not play in that space (LPG) for now. So at the moment, OANDO is the only other quoted coy (aside SEPLAT, the clear mkt leader) that can benefit from the recent surge in the price of LPG as highlighted. Sorry but I never reach to bear that "Sir" title yet. ...I think it's too big for me. Na small person I be Sir. ...a small fellow who lives on a minimum wage paying Job. Regards 7 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Frangel: 7:03pm On Sep 19, 2023 |
OANDO Plc Impressive 2021 financials. Not out of the woods yet. The Notes to the accounts are important. Kindly review the Notes, especially Note 50 on Going Concern. For the minority shareholders projecting to defeat the delisting plan, the court requires 3/4th votes to approve it. Significant shareholders already control 74% and will determine the outcome. Just my observations. 4 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by mikeapollo: 8:25pm On Sep 19, 2023 |
Frangel: Please do not spread wrong information here! The minority shareholders are NOT projecting to defeat any delisting! Rather, they are the ones that went to court and requested for a buyout, and Oando is mandated to make an offer based on SEC rules and regulations, and Oando offered N7.07 per share . The Court then ordered that a special AGM must be held for all individual shareholders to either accept or reject the buyout offer! That is where we are now. Don't use your own sentiments to spread lies and create mischief here. Recently you said the buyout had been approved and I challenged you to tell us where and when the AGM was held to approve the buyout.... and you disappeared for more than a week. Now you are back with another misinformation.! 5 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by mikeapollo: 8:30pm On Sep 19, 2023 |
Frangel:Notes to account for 2021 accounts when several events have occurred in 2023. Have you ever heard about business turnaround before? Oando has restructured its business since after the FY2021 accounts but you are still stuck in it,! Keep on making reference to "Notes to the accounts" while some other current and smart people keep making money from the stocks. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 8:50pm On Sep 19, 2023 |
Independent auditor raises concern as Oando sinks further into debts https://www.icirnigeria.org/independent-auditor-raises-concern-as-oando-sinks-further-into-debts/ 4 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 8:51pm On Sep 19, 2023 |
Request for permission to post long write-up: INDEPENDENT AUDITOR RAISES CONCERN AS OANDO SINKS FURTHER INTO DEBTS BDO Professional Services Chartered Accountants, the independent auditor of Oando Plc, has expressed worries over the company’s ability to continue as a going concern. The company’s liabilities have again exceeded its assets, the auditor said. The auditor raised its red flag in Oando’s audited annual reports and consolidated financial statements for the year ended December 31, 2021, released on Monday, September 18. It disclosed that the company’s current liabilities exceeded its assets by N237.8 billion, as it reported net current liabilities of N202.4 billion in 2020. The company also reported net liabilities of N202.2 billion from N174.1 billion in 2020 and a total comprehensive loss of N28.12 billion from N45.31 billion in 2020. According to financial analysts, when current liabilities exceed current assets, the current ratio will be less than one. In that situation, the company might have problems meeting its short-term obligations. A further look at the audited report showed that the group delivered a sign of recovery, posting a total comprehensive income of N30.6 billion in 2021 from a N132.8 billion loss in 2020. However, the group’s current liabilities exceeded current assets by N674.8 billion from net current liabilities of N578.2 billion in 2020. The company also reported net liabilities of N129 billion from N67.7 billion in 2020. Oando Group comprises Oando Trading, Oando Clean Energy, and Oando Energy Resources. A Nigerian multinational energy company operating in the upstream, midstream and downstream, Oando had suffered a two-year run of losses that began in 2019 when it reported loss after tax of N207.1 billion in 2019 and N140.7 billion in 2020. The ICIR reported on June 30, 2022, that Oando was on the verge of voluntarily delisting from the capital market due to the enormous losses. The company had been entangled in a messy shareholder dispute that involved an indirect shareholder, Ansbury Investment Inc., which prompted the Securities and Exchange Commission (SEC) to bar the firm from holding its annual general meetings, making it impossible to release its financials for three years. At the heart of the conflict were loans granted to the shareholder, which forced Oando to make a colossal impairment allowance that pushed the company into a loss after tax of N207.1 billion in 2019 and N140.7 billion in 2020. Background to the conflict In 2017, the SEC received petitions from two shareholders who accused Oando of regulatory infractions, including corporate governance lapses and mismanagement. Investigating the claim, the SEC sanctioned the group by suspending its AGM in 2018. It even attempted to get the company’s Group Chief Executive, Wale Tinubu, and other affected board members to resign in 2019. The ICIR reported that Oando could not produce its results for over three years due to the SEC’s suspension of its AGM in 2018. Negative operating cash flow Although the group recorded a N30.6 billion profit during the year due to the net reversal of assets impaired in previous years, the company continued to incur losses with negative operating cash flows. The independent auditor, in its notes, stated that the reversal of this trend was dependent on a successful outcome of its planned actions to refinance its debts to manage the funding gap of N768.1 billion and the attainment of revenues in the group forecast for the year ending December 31, 2023. “As stated in the notes, these conditions, together with other matters, indicate the existence of a material uncertainty that may cast significant doubt on the company’s and the group’s ability to continue as a going concern and, therefore, may be unable to realise its assets and settle its liabilities in the ordinary course of business. “Our opinion is not modified in respect of this matter,” the independent auditor stated in its report signed by Henry Omodigbo for the BDO. The audited report also revealed that the firm recorded negative operating cash flows of N14.4 billion while the group recorded N38.8 billion, up from N36.2 billion in 2020. As of the balance sheet date, the group could not achieve payment of the outstanding principal on the medium-term loan of N92.2 billion and the corporate facility of N97.4 billion. It could not pay its total accrued interest of N65.6 billion and settlement of other net current liabilities (excluding current borrowings and accrued interest) of N315.7 billion. After the reporting date, the firm has continued to incur significant borrowings, including funding of operations and partial repayment of borrowings. The group recorded unaudited positive revenue variance in 2022 due to increases in oil prices and higher trading volumes. However, the independent auditor stated that the increase in revenue did not translate to a corresponding increase in gross margin and positive cash flows from operations. Consequently, the firm needed help to achieve the planned repayment of outstanding borrowings during the year. Furthermore, the auditor hinted that the company and group recorded unaudited total comprehensive loss, net current liabilities and net liabilities at the end of 2022. The group’s outstanding borrowings amounted to N506.7 billion (unaudited), excluding interest as of December 31, 2022, with N402.4 billion out of the N506.7 billion being due within twelve months. The independent auditor stressed that Oando’s forecast to return to profitability by 2024 highly depended on the stability of crude oil prices within the current range. It also depends on the Oando’s ability to engage in activities that will increase production volume and intensify security surveillance to arrest crude oil theft. Production declined by 40% in one year During Oando’s operations in 2021, its oil production dropped by 40 per cent. Average production was 26,775 barrels of oil equivalent per day (boe/day) in 2021 compared to 44,550 boe/day in 2020. Production consisted of 8,849 barrels per day (bbls/day) of crude oil, 1,699 boe/day of natural gas liquids (NGLs) and 97,363 million cubic feet per day (mcf/day) or 16,227 boe/day of natural gas. Oando blamed the production decreases on shut-ins for repairs, maintenance, and sabotage incidents at the facilities. “Although a surge in militancy and sabotage activities across the Niger Delta negatively affected our operations during the reporting period, we have since seen progress in security initiatives and are consistently seeking innovative solutions to stabilise our oil and gas production. “Moving forward, we remain committed to driving growth within our upstream and trading businesses whilst simultaneously diversifying our portfolio by investing in non-fossil and climate-friendly energy solutions through Oando Clean Energy Limited,” Tinubu said. 3 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Ades1: 8:54pm On Sep 19, 2023 |
Frangel: Oga mi, most people invested in Oando are not invested because of of Fundamental Analysis(FA), Or Sentimental Analysis(SA) for that matter. Most people are in because of Commonsense Analysis(CA). I got in N4.40 when the N7 buyout was announced, at that time, N2 gain was my target, as soon as Jagaban was announced as the president elect, I bought a ton more at N4.80 because we all know how things work in this country! Anyways, today, I sold about 30% of my holdings to recoup my investment! You see that 70% left? It is on AutoPilot until something drastic happens. Yes, there is massive risk in Oando, but as long as Jagaban family dey in control, I am in this bus till we get accident! 10 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 8:54pm On Sep 19, 2023 |
essentialone: Oando is the current Government 3 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Frangel: 9:04pm On Sep 19, 2023 |
mikeapollo: Sorry sir. I avoid joining issues. I make my observations and it's left for the user to confirm from documents in public domain, especially on NGX website (Corporate Disclosures). By the way, 'AGM' is statutory. Confirm exactly what was ordered and the terms. On your second post on Notes, have you bothered to read the Note 50 I specified? Oga, I go 'disappear' again😁😁 . But I read almost everything posted here o. I dey laff, Oando @N1,000. Nothing is impossible sha 4 naija. 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by jarkbauer: 9:05pm On Sep 19, 2023 |
mikeapollo: you are wrong and he is right. read the press release here https://www.oandoplc.com/press_release/oando-plc-announces-proposed-scheme-of-arrangement/ March 30, 202 Lagos, Nigeria – Oando PLC (“Oando” or the “Company”) hereby notifies Nigerian Exchange Limited (“NGX”) and Johannesburg Stock Exchange Limited (“JSE Limited ”) that it has received an offer from its core shareholder – Ocean and Oil Development Partners Limited (“OODP”) – to acquire the shares of all minority shareholders in Oando (“Scheme Shareholders”). The Company will subsequently be delisted from NGX and JSE and re-registered as a private company (the “Transaction”). It is intended that the Transaction will be executed through a Scheme of Arrangement (‘’Scheme”), in accordance with Section 715 of the Companies and Allied Matters Act, 2020 (as amended), and other applicable laws, rules, and regulations. Under the Scheme, each Scheme Shareholder shall be entitled to receive the sum of N7.07 in cash or its equivalent in South African Rand (ZAR) for every ordinary share held by the qualified Scheme Shareholders at the Effective Date of the Scheme (“Scheme Consideration”). The proposed Scheme Consideration represents a 58% premium to the last traded share price of Oando on 28 March 2023, being the day prior to the date of submission of the Scheme application to the Securities and Exchange Commission (“SEC”). Consequently, we confirm that Oando has applied for the SEC’s ‘No Objection’ to the Scheme. Please note that the effectiveness of the Scheme is subject to the approval of the shareholders of Oando at the Court-Ordered Meeting of the Company, as well as the sanction of the Federal High Court. The terms and conditions of the Transaction will be provided in the Scheme Document which will be dispatched to all shareholders following the receipt of an order from the Federal High Court to convene a Court-Ordered Meeting. If the conditions of the Transaction are satisfied and same is sanctioned by the Federal High Court, the Company will be delisted from NGX and JSE and re-registered as a private company. Further details will be communicated to the market upon receipt of requisite approvals from shareholders and regulators. Shareholders of Oando are advised to exercise caution when dealing in the shares of Oando until a further announcement is made. 5 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Deadlytruth(m): 9:09pm On Sep 19, 2023 |
Ades1: 3 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Frangel: 9:14pm On Sep 19, 2023 |
essentialone: Much of this and more are in Note 50 of the just released 2021 report. However, most people don't read the Notes to the accounts and the Directors' Report. A lot of info can be got therein, even though they are often too long. |
Re: Nigerian Stock Exchange Market Pick Alerts by Frangel: 9:17pm On Sep 19, 2023 |
Ades1: Oga, you're doing well. Just know when to jump out, dodge accident 😁😁 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by ProphetUtuocha: 9:26pm On Sep 19, 2023 |
While some are still stuck in the dark clouds of its history, OANDO moves on. The new Oando is essentially different from the beleaguered one of the past. The new Oando will continue to soar and soar as it occupies central space in today's scheme of things. Tomorrow, Oando will continue its forward march and will cruise pass 14 naira to the joy of its shareholders. Enough said! 5 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 9:28pm On Sep 19, 2023 |
How can I buy shared in Nigeria stock market, I am very interested. 2 Likes |
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