ProphetUtuocha:
I just dey laugh at all the folks who cling to the unfortunate past and spread wicked stories against Wale and Oando. If only they know that this is a new season and that the wind is on the back of Oando. Enough said.

My Guy....ever full of confidence in Oando.
Your manhood has been as hard as ever on Oando!

Any further insights? You are confusing some of us with your parables!

With respect to Oando, those who want to be on the sidelines are free to do so. For me, I am firmly anchored in the Oando plane, no retreat, no surrender!. I was first to call it, based on objective facts. Keep your eyes glued on it! Magic will soon happen!

Parables? Lol!
An African proverb says that when a child insists on the interpretation of a proverb, it means that the money paid to marry the mom was a waste.
Enough has been said on Oando.since I called it, it has done 100%, yet this is yet morning in the days of its glory!

mikeapollo:


My Guy....ever full of confidence in Oando.
Your manhood has been as hard as ever on Oando!

Any further insights? You are confusing some of us with your parables!

BabsO2:


Looks like you read by comments upside down with special lenses. Easy. Read them again without abuses. My comment on today's trading were based on market watch launched live from broker's software link.

People dey para for NAIJA joor

ProphetUtuocha:
With respect to Oando, those who want to be on the sidelines are free to do so. For me, I am firmly anchored in the Oando plane, no retreat, no surrender!. I was first to call it, based on objective facts. Keep your eyes glued on it! Magic will soon happen!

The delisting saga is a major challenge to decision making as regards OANDO.

Caverton flexing muscle gradually....hmmm

Which 'delisting saga'? I laugh when I hear such comments in connection with Oando. Meanwhile, savvy investors are in accumulation mode while those who thought heavens would fall on 10th October were disappointed!

sky2891:

The delisting saga is a major challenge to decision making as regards OANDO.

ojeysky:
Caverton flexing muscle gradually....hmmm

A sign of good Q3 result.
Caverton my number one stock pick for Q3.
Japaul Gold, chams,sunu,linkage and conerstone the other kobo stocks to watch out for Q3.

I just get annoyed each time Oando PLC is mentioned here. Sadly some of you keep a conspiracy of silence over the ignoble roles of this organization. In 2010, Oando offered for sale through Public Offering in the Capital Market a total of 301,694,876 ordinary Shares of 50k each N70.00 each and today this very PLC is buying back these shares at N7.00 per share from the investors of 2010. Futhermore, Oando stopped paying dividends for over ten years now or so. Yet, you are all keeping quiet about this scam. I can't understand this country.

essentialone:
I just get annoyed each time Oando PLC is mentioned here. Sadly some of you keep a conspiracy of silence over the ignoble roles of this organization. In 2010, Oando offered for sale through Public Offering in the Capital Market a total of 301,694,876 ordinary Shares of 50k each N70.00 each and today this very PLC is buying back these shares at N7.00 per share from the investors of 2010. Futhermore, Oando stopped paying dividends for over ten years now or so. Yet, you are all keeping quiet about this scam. I can't understand this country.

I can quickly point to AP rising to over N250. change to FO, and later delisted as Ardova, and paid about N19.25k to shareholders. Shame.

Again in August 24, 2004, this Oando PLC offered by way of Rights of 20,384,957 ordinary Shares of 50 Kobo each @N95.00 per share payable in full on acceptance. Is it not shameful that this Oando PLC is now using subtlety, mago-mago, wuru-wuru to buy back at scrap value of N7.00 per shares, those Shares it sold at N95.00 per share in 2004, and @N70.00 in 2010? This is lamentable, and those who are at the top echelon of Oando, and the Nigerian Capital Market, should hide their heads, in shame. When the law is broken, there must be consequences, either here, or in the hereinafter. It is not yet over, until it is finally and completely over!

Las las,

O&O = OYO

Meanwhile, where is my Mummy Mcy ooo?

Truly, Oando has had a chequered history which has continued to haunt it. These have severally been described as the bad memories of the past. These notwithstanding, it is recognized that investment is not an emotional or sentimental decisions. My take remains that current realities are favorable to Oando. The company has seen continued improvement in its Financials and appears to be steadily getting out of the wood. It therefore looks to me that after years of suffering, Oando investors may enter a new season of harvest.

Note: This is my personal view and does not represent investment advice to anyone. Please always do your due diligence

kolaish:
Who are the WE if I may ask? That question is uncalled for. This is just like asking people who goes to the supermarket if they have all come to buy rice and noodles. Try and be more specific about what you want people to respond to. Moving forward, there is a great difference between investing, trading and speculating in stocks. You can simply google it to know the differences between them.

Lol. I'm aware.
What I figure is that most of the active people here are speculators. It seems they all day trade. I want to get a head start on that, if possible.

Nigerians are natural risk-takers. Nobody needed to point out Oando to anyone. As Ades1 once said, it is common sense that makes you buy Oando in anticipation or upon the announcement of Tinubu's victory. Nobody should try to take the shine for pointing the stock out. To people who did MMM or traded crypto, both of which are riskier speculations, Oando is a no-brainer, an easy pick!
If Otedola starts loading Dunlop tomorrow, some people will come here and boast of mentioning Dunlop as a pick.

And for those losing their sleep because of Oando, or disrespectfully calling fellow forumites names just because of volatile emotions, trading high risk stocks is not by force. Many will catch fun with the stock you're banking on. Some friendships started because of ManU vs Chelsea bashing. Tame your emotions and not treat every sarcastic or contrary opinion about your stock as "bad belle".

Melcapital:
Nigerians are natural risk-takers. Nobody needed to point out Oando to anyone. As Ades1 once said, it is common sense that makes you buy Oando in anticipation or upon the announcement of Tinubu's victory. Nobody should try to take the shine for pointing the stock out. To people who did MMM or traded crypto, both of which are riskier speculations, Oando is a no-brainer, an easy pick!
If Otedola starts loading Dunlop tomorrow, some people will come here and boast of mentioning Dunlop as a pick.

And for those losing their sleep because of Oando, or disrespectfully calling fellow forumites names just because of volatile emotions, trading high risk stocks is not by force. Many will catch fun with the stock you're banking on. Some friendships started because of ManU vs Chelsea bashing. Tame your emotions and not treat every sarcastic or contrary opinion about your stock as "bad belle".

But it looks like Oando crusaders are shoving it down on people's throat

ProphetUtuocha:
Truly, Oando has had a chequered history which has continued to haunt it. These have severally been described as the bad memories of the past. These notwithstanding, it is recognized that investment is not an emotional or sentimental decisions. My take remains that current realities are favorable to Oando. The company has seen continued improvement in its Financials and appears to be steadily getting out of the wood. It therefore looks to me that after years of suffering, Oando investors may enter a new season of harvest.

Note: This is my personal view and does not represent investment advice to anyone. Please always do your due diligence

Prophet is now using a caveat!!!
Bargain hunters take note

[b]NGX RULES ON DE-LISTING OF SHARES, AND HOW IT AFFECTS OANDO[/b]

As per Oando and its de-listing, I did a few checks to find out the NSE/NGX rules and procedures that guide the de-listing of equity securities.
The rules may help investors appreciate the situation better, and possibly inform further investment decisions.

Some of the main points are as follow:

1. the Board of Directors (BOD) of the company (Oando) would pass a resolution to delist
2.. the company (Oando) would notify the NSE/NGX of the Board's recommendation to delist
3. the company (Oando) would apply to the court for necessary legal requirements for delisting its shares
4. the company would organize a Court-ordered Meeting of shareholders (AGM/EGM) to approve or reject the Scheme,
5. the company shall invite the NSE/NGX to the Court-ordered Meeting by a notice not later than 21 days before the meeting.
6. notice of the Court-ordered AGM/EGM shall be published in at least 2 national dailies.
7. the Quotations Committee of NGX shall consider the company's application to ensure the interest of minority shareholders are sufficiently protected
8. the share price at which the dissenting shareholders interest shall be bought shall not be less than the highest price at which the company's shares traded over the six (6) months immediately preceding the date on which the notice of the AGM/EGM at which the resolution to de-list the company was issued ( THIS IS THE REAL ISSUE THAT NEEDS TO BE TACKLED PROPERLY BY THE NGX and SHAREHOLDERS)
9. A company that delisted its shares cannot re-list until after 3 years.

Please Note:
Oando management have only complied with items Nos.1 to 3.
Items Nos.4 to 8 are yet to be achieved.

If the rule per Item No.8 (share price) is strictly adhered to, then Oando would have to pay every minority shareholder the highest price in the preceding 6 months before the AGM/EGM (which has not yet held).

As per the NGX rule, the 6 month period is counted prior to the exact date of the AGM/EGM. If the AGM/EGM has not held, then there is no valid 6 months to count. So Oando is being mischievous and tricky by trying to make reference to some 6 months and fixing a price of N7.07!

Hence, the higher the share price goes on the NGX, the higher the potential exit or buyout price that minority shareholders could get as per NGX rules. This is where the NGX and minority shareholders need to exert their powers. It also serves as an opportunity for speculators to see how they could still buy and make profit.

The highest price of Oando was N16 in September

This is just my personal observation and does not translate to investment advice.

Adinije:
But it looks like Oando crusaders are shoving it down on people's throat

Please share your take on the stock you are looking at.

I think people talk about stocks they are looking at for various reasons and bets. At one time it was Dangote Foods that overloaded the airwaves. With smaller waves on the other stocks people were looking at.

Please loud it on the stock or stocks you are watching if any abeg.

mikeapollo:
As per Oando and its de-listing, I did a few checks to find out the NSE/NGX rules and procedures that guide the de-listing of equity securities.
The rules may help investors appreciate the situation better, and possibly inform further investment decisions.

Some of the main points are as follow:

1. the Board of Directors (BOD) of the company (Oando) would pass a resolution to delist
2.. the company (Oando) would notify the NSE/NGX of the Board's recommendation to delist
3. the company (Oando) would apply to the court for necessary legal requirements for delisting its shares
4. the company would organize a Court-ordered Meeting of shareholders (AGM/EGM) to approve or reject the Scheme,
5. the company shall invite the NSE/NGX to the Court-ordered Meeting by a notice not later than 21 days before the meeting.
6. notice of the Court-ordered AGM/EGM shall be published in at least 2 national dailies.
7. the Quotations Committee of NGX shall consider the company's application to ensure the interest of minority shareholders are sufficiently protected
8. the share price at which the dissenting shareholders interest shall be bought shall not be less than the highest price at which the company's shares traded over the six (6) months immediately preceding the date on which the notice of the AGM/EGM at which the resolution to de-list the company was issued ( THIS IS THE REAL ISSUE THAT NEEDS TO BE TACKLED PROPERLY BY THE NGX and SHAREHOLDERS)
9. A company that delisted its shares cannot re-list until after 3 years.

Please Note:
Oando management have only complied with items Nos.1 to 3.
Items Nos.4 to 8 are yet to be achieved.

If the rule per Item No.8 (share price) is strictly adhered to, then Oando would have to pay every minority shareholder the highest in the previous 6 months before the AGM/EGM (which has not yet held).

As per the NGX rule, the 6 month period is counted prior to the exact date of the AGM/EGM. If the AGM/EGM has not held, then there is no valid 6 months to count. So Oando is being mischievous and tricky by trying to make reference to some 6 months and fixing a price of N7.07!

Hence, the higher the share price goes, the higher the potential exit or buyout price that minority shareholders could get as per NGX rules. This is where the NGX and minority shareholders need to exert their powers. It also serves as an opportunity for speculators to see how they could still buy and make profit.

The highest price of Oando was N16 in September

This is just my personal observation and does not translate to investment advice.

The bets I guess in the market right now are
1. The company will turn around
2. The company will tow the path of not being a going concern again and shareholders will be wiped out (the 2021 AFS noted the possibility of the company not being able to meet its debt obligations).
3. The company will go private at N7.0 or at a new higher price.

Also it is worth to note:

A major shareholder exited in Nov 2021 with nearly a 5th of OANDO shares at N6. Perhaps the delisting brouhaha originally was triggered by this shareholder and similar aggrieved ones that tussled for a management takeover. Perhaps not.
https://doclib.ngxgroup.com/Financial_NewsDocs/131_OANDO_PLC_-.pdf

The Audited 2022 AFS was due since end of Aug 2023
https://doclib.ngxgroup.com/Financial_NewsDocs/37413_OANDO_PLC%20OANDO_PLC__CORPORATE_ACTIONS_JANUARY_2023pd.pdf

BabsO2:


The bets I guess in the market right now are
1. The company will turn around
2. The company will tow the path of not being a going concern again and shareholders will be wiped out (the 2021 AFS noted the possibility of the company not being able to meet its debt obligations).
3. The company will go private at N7.0 or at a new higher price.

Also it is worth to note a major shareholder exited in Nov 2021 with nearly a 5th of OANDO shares at N6. Perhaps the delisting pressure originally was triggered by this shareholder. Perhaps not.
https://doclib.ngxgroup.com/Financial_NewsDocs/131_OANDO_PLC_-.pdf

The Audited 2022 AFS was due since end of Aug 2023
https://doclib.ngxgroup.com/Financial_NewsDocs/37413_OANDO_PLC%20OANDO_PLC__CORPORATE_ACTIONS_JANUARY_2023pd.pdf

Thanks for your perspective.

I am also suspecting that Oando management is deliberately trying to curtail its share price from rising too high, as that could mean paying huge sums to shareholders as exit price. The share price was nearing N20 a few weeks back and then they released their FY2021 results that brought the price down to N8.

mikeapollo:


Thanks for your perspective.

I am also suspecting that Oando management is deliberately trying to curtail its share price from rising too high, as that could mean paying huge sums to shareholders as exit price. The share price was nearing N20 a few weeks back and then they released their FY2021 results that brought the price down to N8.

The koko (highlight) of Oando is the 2022 audited result, which they have refused to release. It is that result that will disclose how much they made from disposing over 200 oando outlets to NNPC.

mikeapollo:
[b]NGX RULES ON DE-LISTING OF SHARES, AND HOW IT AFFECTS OANDO[/b]

3. the company (Oando) would apply to the court for necessary legal requirements for delisting its shares
4. the company would organize a Court-ordered Meeting of shareholders (AGM/EGM) to approve or reject the Scheme,

Stuck on 3. The decider is 4.
Looking at how oando has gone from downstream to upstream sector(vis-a-vis an ENERGY COMPANY), I personally don't think it makes sense going forward with any buyout option for these shareholders(if they're indeed genuine with all that has been said about "Walenomics" )

Wale na babanla fraudster

kolaish:
The koko (highlight) of Oando is the 2022 audited result, which they have refused to release. It is that result that will disclose how much they made from disposing over 200 oando outlets to NNPC.

Let me also add that the 6 months H1 2023 would also be significant because of revaluations (for a glimpse, the only reason it declared profit in 2021 is revaluations gain). The coy is an upstream player that hold quite a number of its assets (fixed and variables) in USD, and if what happened to the banks is an indicator then that could be substantial. Although, the caveat in this case would be that whatever gain from this would not be cashflow backed because the asset being revalued would be physical (and not liquid cash like banks), nonetheless it should help repair its damaged balance sheet.

But would Wale release the result? i sincerely doubt if his intention is to delist.

Selah

mikeapollo:
[b]NGX RULES ON DE-LISTING OF SHARES, AND HOW IT AFFECTS OANDO[/b]

As per Oando and its de-listing, I did a few checks to find out the NSE/NGX rules and procedures that guide the de-listing of equity securities.
The rules may help investors appreciate the situation better, and possibly inform further investment decisions.

Some of the main points are as follow:


8. the share price at which the dissenting shareholders interest shall be bought shall not be less than the highest price at which the company's shares traded over the six (6) months immediately preceding the date on which the notice of the AGM/EGM at which the resolution to de-list the company was issued ( THIS IS THE REAL ISSUE THAT NEEDS TO BE TACKLED PROPERLY BY THE NGX and SHAREHOLDERS)

Please Note:
Items Nos.4 to 8 are yet to be achieved.

If the rule per Item No.8 (share price) is strictly adhered to, then Oando would have to pay every minority shareholder the highest price in the preceding 6 months before the AGM/EGM (which has not yet held).

As per the NGX rule, the 6 month period is counted prior to the exact date of the AGM/EGM. If the AGM/EGM has not held, then there is no valid 6 months to count. So Oando is being mischievous and tricky by trying to make reference to some 6 months and fixing a price of N7.07!

Hence, the higher the share price goes, the higher the potential exit or buyout price that minority shareholders could get as per NGX rules. This is where the NGX and minority shareholders need to exert their powers. It also serves as an opportunity for speculators to see how they could still buy and make profit.

The highest price of Oando was N16 in September

This is just my personal observation and does not translate to investment advice.

the question now is, WHEN WAS THE NOTICE TO DE-LIST ISSUED. The price of 16 Naira in September is out of that period. I believe the notice was issued and the preceding 6 months has passed and the N7.07 we kept hearing was the highest amount during the preceding 6 months.
I do not think the exit price will be the highest amount within 6 months after the case is settled or during the period case is held. It is simply the highest amount with 6 months preceding when the notice to de-list was issued.

kolaish:
The koko (highlight) of Oando is the 2022 audited result, which they have refused to release. It is that result that will disclose how much they made from disposing over 200 oando outlets to NNPC.

This is the result I am seriously dieing to see. The profit will be like

vacanci:


the question now is, WHEN WAS THE NOTICE TO DE-LIST ISSUED. The price of 16 Naira in September is out of that period. I believe the notice was issued and the preceding 6 months has passed and the N7.07 we kept hearing was the highest amount during the preceding 6 months.
I do not think the exit price will be the highest amount within 6 months after the case is settled or during the period case is held. It is simply the highest amount with 6 months preceding when the notice to de-list was issued.

8. the share price at which the dissenting shareholders interest shall be bought shall not be less than the highest price at which the company's shares traded over the six (6) months immediately preceding the date on which the notice of the AGM/EGM at which the resolution to de-list the company was issued.

Has there been any AGM/EGM at which a resolution to delist was reached?
This should be the 4th rule, right?
Just asking

vacanci:


the question now is, WHEN WAS THE NOTICE TO DE-LIST ISSUED. The price of 16 Naira in September is out of that period. I believe the notice was issued and the preceding 6 months has passed and the N7.07 we kept hearing was the highest amount during the preceding 6 months.
I do not think the exit price will be the highest amount within 6 months after the case is settled or during the period case is held. It is simply the highest amount with 6 months preceding when the notice to de-list was issued.

.

Please go and read the NSE rules and procedures. Everything is explained there.
The rules say 6 months preceding the AGM/EGM at which the resolution to delist the company was issued.
An AGM/EGM must pass a resolution to delist the shares. But no AGM/EGM has been held!
So the management cannot ambush the shareholders by way of just a so-called ''notice to delist'', unilaterally issued by them.

Nothing is certain yet when it is at the level of notice to delist. .Such notice is not cast in stone and the date can be manipulated by the company to achieve parochial objectives. It is also not the key milestone according to the rules and regulations in corporate governance.
A company can issue a notice to delist and still withdraw it without any serious consequence, unlike the Court-ordered AGM/EGM which is statutory and has legal consequence

kolaish:
The koko (highlight) of Oando is the 2022 audited result, which they have refused to release. It is that result that will disclose how much they made from disposing over 200 oando outlets to NNPC.

OANDO eh

Where is your source vacanci?

Tpharell:
Where is your source vacanci?

the operative sentence is " six (6) months immediately preceding the date on which the notice of the AGM/EGM"

has the date of the AGM/EGM been decided yet?

if so count 6 months before then

if not then wait till date is notified and count 6 months before that date