yMcy56:

Why did you say it's old news?
Any link to show this?
because Punch and few other media just reported it as well.
It has to do with NUPRC approval now.......it's new development again.

https://punchng.com/eni-gets-approval-to-sell-agip-to-oando/

It is old news because It stills refers to an approval from NUPRC which had already been given. NURPC itself announced about 3 weeks ago, that the transaction has been completed.
This is just ENI's own communication to the public about the deal; but it is not saying anything new.

Part of the article reads...''On July 3, the NUPRC announced that Oando had completed the acquisition of 100 percent shares of Eni in its subsidiary, NAOC, adding that an announcement was imminent.''

If NUPRC announced on July 3 (3 weeks ago) that Oando had completed the acquisition of 100% of ENI shares in NAOC, then it necessarily means that regulatory approval had already been given to both parties by NUPRC.

ENI is only making its official release or publication now.
Oando has always been the one communicating to the public on the deal, apparently to boost investor confidence because of their difficult recent history.

@mikeapollo
Here's OANDO news, and its just been published on NGX
* Instead of confirming it, youre busy arguing old stuff.

https://doclib.ngxgroup.com/Financial_NewsDocs/41757_OANDO_PLC-OANDO_PRESS_RELEASE__CORPORATE_ACTIONS_JULY_2024.pdf

gamaliel9:


Exactly what i want, SHARE THE DIVIDENDS ONLY, BUT 10% OF DIVIDENDS SHOULD BE KEPT IN RESERVE FOR FUTURE INVESTMENTS, AS YEARS PASS, THE TRUST GROWS TOO. Thanks Sir. Still learning oooo. However, whoever goes into betting, drugs sniffing and dibia [babalawo], will lose his or her status as a beneficiary . Ya gaziere anyi ooooo

Will Sugar Ever recover like this?? Fund has been depleted and no hope yet!!

chimex38:

The 3 days delay is actually a process from CSCS and not a delay from the brokers.
The CSCS are incharge of direct cash settlement(DCS) of crediting your bank account directly not the brokerage firms.
Hence I believe the 3days is that way across all brokers.

I know bro but i do sell my shares on Ucap and my ucap account is credited almost instantly to allow me but another shares instantly.

Krisuba:
Will Sugar Ever recover like this?? Fund has been depleted and no hope yet!!

Funds deplete or profit deplete

mikeapollo:
It is old news because It stills refers to an approval from NUPRC which had already been given. NURPC itself announced about 3 weeks ago, that the transaction has been completed.
This is just ENI's own communication to the public about the deal; but it is not saying anything new.

Part of the article reads...''On July 3, the NUPRC announced that Oando had completed the acquisition of 100 percent shares of Eni in its subsidiary, NAOC, adding that an announcement was imminent.''

If NUPRC announced on July 3 (3 weeks ago) that Oando had completed the acquisition of 100% of ENI shares in NAOC, then it necessarily means that regulatory approval had already been given to both parties by NUPRC.

ENI is only making its official release or publication now.
Oando has always been the one communicating to the public on the deal, apparently to boost investor confidence because of their difficult recent history.

Hope you can read in the letter where it says "both parties cañ proceed with the completion of the transaction "
Is it ENI that made the official release?

Babygal2020:
Thanks boss

THanks to you too!! we are 4geda in tubaba's parlance.

BullBearMkt:
Please, does anyone know how I can find out if a company I registered in 1995 is still in existence with the CAC?

1995 may not be active anymore if you have not been paying annual returns. Check out this link [url] https://post.cac.gov.ng/search/type/business-name[/url] . You may need to pay a fee for more info of active status or otherwise. Another route which is unnecessarily long and time wasting is to search for a business or entity name like you are setting up a new business. It should give you info about the active status.

yMcy56:
@mikeapollo
Here's OANDO news, and its just been published on NGX
* Instead of confirming it, youre busy arguing old stuff.

https://doclib.ngxgroup.com/Financial_NewsDocs/41757_OANDO_PLC-OANDO_PRESS_RELEASE__CORPORATE_ACTIONS_JULY_2024.pdf

The regulator that decides, NUPRC, had announced officially on July 3, that the deal is 100% complete. This carries more weight in my estimation.
What Oando and ENI are saying does not add anything new to what NUPRC had said 3 weeks earlier.
Hence, this is still old news.

emmaodet:


I know bro but i do sell my shares on Ucap and my ucap account is credited almost instantly to allow me but another shares instantly.

If You mean Ucaps own user (wallet) account? Yes, it'd credited instantly.
Same goes for other brokage firms.

But if you mean into your bank account(DCS), that is the exclusive prerogative of CSCS and it takes 3 working days and it's a free service across board..

But as Oga Emma has highlighted, some brokerage firms do offer extra services to credit your bank account directly instead of waiting for 3 working days while on DCS.
But as he also pointed out, this service is not free as you have to agree to their conditions of service (commission per annum from all your sell orders in a year).

Unless you are saying its a free service from Ucap where they credit your bank account(not wallet account) instantly despite you being on DCS?

emmaodet:
@emmasoft

Kindly shed more light on this picture below.
I submitted a direct settlement form from Investment-One and now they replied me that i am not profiled for that and would be charged a whooping 26% of my withdrawal per annum or 5,000 per transaction.
I hope this is not a daylight robbery.

@emmaodet. This is what the mail you received means:

Currently, you didn't indicate direct settlement of your sales proceeds, please note that direct settlement doesn't mean you will get the proceeds of your sales same day. it will still follow the T+3 settlement period. What it simply means is that CSCS Plc will be the one to credit your bank account on the 3rd day after sales ie the proceeds don't go through your trading account with the broker (investment one)

The alternative given to you is the charge you will pay if you want your money before the stipulated settlement date, in this case, you are treated as a customer borrowing money from investment one. it's not robbery. Other firms also have their policy around that.

Just like Pa Emma said in his response, you don't pay anything if you wait for the T+3 settlement period or wish to use the proceeds to buy another stock even on the same day of sale of stock.

If you wish to opt for direct settlement, send a mail requesting the direct settlement form, complete it, and send it back to them, it will be processed and you will be getting your sales proceeds directly from cscs from now on.

Note also that this option is unfavorable if you sometimes want to use your sales proceeds to buy more stocks immediately and remember cscs will still follow the T+3 settlement period before you get credited.

That does not make the announcement by the parties involved irrelevant or old.
It is fresh news...

Regulatory approval simply means that they are allowed to enter a deal. Completion of the deal is the signing of ALL agreements and paperwork which I believe just happened yesterday.

mikeapollo:


The regulator that decides, NUPRC, had announced officially on July 3, that the deal is 100% complete. This carries more weight in my estimation.
What Oando and ENI are saying does not add anything new to what NUPRC had said 3 weeks earlier.
Hence, this is still old news.

sky2891:
https://doclib.ngxgroup.com/Financial_NewsDocs/41759_IKEJA_HOTEL_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_JULY_2024.pdf

better than Transcorp.

Transcorp hotel
EPS is 65k, floor price N98.40, Price to earning ratio is 158x

Ikeja
EPS is 62k, floor price is N7.10, Price to earning ratio is 11x

mikeapollo:


The regulator that decides, NUPRC, had announced officially on July 3, that the deal is 100% complete. This carries more weight in my estimation.
What Oando and ENI are saying does not add anything new to what NUPRC had said 3 weeks earlier.
Hence, this is still old news.

My people want a new bull. We want one bull for the NUPRC approval, one for the OANDO Press Release and yet another for the Reuters Reporting of the same news.

Agbalowomeri:
Why are we sympathising with the banks? They are part of Nigeria's problem so let them take the hit

Nice try.i am not sympathising with the bank .I am sympathising with myself because I partly own the bank....haba accountant you should know better. I don't buy to trade and japa for two yrs.i buy to hold as long as my investment is bringing good dividend.
This excessive work in the other room is making you think like Mr townhall .It is high timed you begin to slow down on that activity. It is making you get high oh

zendi:

My people want a new bull. We want one bull for the NUPRC approval, one for the OANDO Press Release and yet another for the Reuters Reporting of the same news.

Lol! Now I get the gist/trick! 😊
Frankly, the bottom line is the same. There is no fundamental changes/additions in the Oando-ENI deal announcements from what we had known several weeks ago.

KarlTom:
That does not make the announcement by the parties involved irrelevant or old.
It is fresh news...

Regulatory approval simply means that they are allowed to enter a deal. Completion of the deal is the signing of ALL agreements and paperwork which I believe just happened yesterday.

Frankly, the bottom line is the same. There is no fundamental changes/additions in the Oando-ENI deal announcements from what we had known several weeks ago.

emmaodet:


Also, i tried getting a loan from ucap microfinance but they gave a tenure of just only 6 months. Virtually all the bankss are giving short loans of max 1 year and not 3-5 years loan. How did you solved this problem bro?
Stanbic smart loan is just 18 months too

You rollover after 6 months provided you have paid at least the accumulated interest on the loan.


Assuming you got a loan of N1 million at 26% for 6 months.

Your accumulated interest after 6 months is 130k. If you paid 230k at maturity, that means you have liquidated your interest of 130k and paid down 100k from the principal.

You can then rollover 900k for another 6 months .


You continue to rollover for the next 3 years provided you are servicing the interest

Hogwarthtrades:


THanks to you too!! we are 4geda in tubaba's parlance.




1995 may not be active anymore if you have not been paying annual returns. Check out this link [url] https://post.cac.gov.ng/search/type/business-name[/url] . You may need to pay a fee for more info of active status or otherwise. Another route which is unnecessarily long and time wasting is to search for a business or entity name like you are setting up a new business. It should give you info about the active status.

Thanks a lot! I appreciate it, very helpful link.

unite4real:


better than Transcorp.

Transcorp hotel
EPS is 65k, floor price N98.40, Price to earning ratio is 158x

Ikeja
EPS is 62k, floor price is N7.10, Price to earning ratio is 11x

Transcorp hotel
book value per share is N7.34 while current market price is N98.4

Ikeja
book value per share is N11.4 while current market price is N7.10

emmaodet:


Okay bro, Thanks but then, does it meant Investment-One don't operate direct settlement to my stock broking account instantly? instead of waiting for 3 days after every transaction.
I opted out from the direct settlement so that i can be selling and buying stocks almost instantly rather than missing out from a trade due to 3 days delay

You can use the fund to buy another share before settlement but proceeds from your sale can't be psid into your account before settlement unless you pay the 5k charges

emmanuelewumi:
Treasury bill at 22%

oga Emma

How can I partake directly in the 91 days maturity date auction? My broker only offers the 2 & 3 years maturity dates

Thank you in advance

Damasco:


oga Emma

How can I partake directly in the 91 days maturity date auction? My broker only offers the 2 & 3 years maturity dates

Thank you in advance

Treasury Bills are for a maximum of 365 days.


What you got from your stockbroker should be savings bond

emmanuelewumi:



You rollover after 6 months provided you have paid at least the accumulated interest on the loan.


Assuming you got a loan of N1 million at 26% for 6 months.

Your accumulated interest after 6 months is 160k. If you paid 260k at maturity, that means you have liquidated your interest of 160k and paid down 100k from the principal.

You can then rollover 900k for another 6 months .


You continue to rollover for the next 3 years provided you are servicing the interest

Perfect.

This is very clear.
This is what i wanted to ask you privately before.
Thanks

emmaodet:


I know bro but i do sell my shares on Ucap and my ucap account is credited almost instantly to allow me but another shares instantly.

I think @emmaodet, the usage of the term direct settlement/payment is not correctly applied. For any investor that opts for direct payment of sales proceeds, it can't go through your trading account it's sent to CSCS who will credit you after 3 days of your stock sales.

The fact that you didn't get your proceeds in your trading account, means you are currently on a direct settlement option.
You will need to opt out of it by completing the form and indicating your desired option.

Based on your first post, you explained the opposite of what you preferred.

emmaodet:


Perfect.

This is very clear.
This is what i wanted to ask you privately before.
Thanks

Better you asked here. Other people can learn.


Please note that you will pay a rollover fee of 1% on the outstanding loan balance.


In the example given earlier you will pay a rollover fee of 9k on the outstanding loan of 900k


It is only FSDH Capital that does not charge rollover fees

emmasoft:


I think @emmaodet, the usage of the term direct settlement/payment is not correctly applied. For any investor that opts for direct payment of sales proceeds, it can't go through your trading account it's sent to CSCS who will credit you after 3 days of your stock sales.

The fact that you didn't get your proceeds in your trading account, means you are currently on a direct settlement option.
You will need to opt out of it by completing the form and indicating your desired option.

Based on your first post, you explained the opposite of what you preferred.

Okay bro.
Thanks very much.
I will mail them to opt me out from the direct settlement then.

emmanuelewumi:



Better you asked here. Other people can learn.


Please note that you will pay a rollover fee of 1% on the outstanding loan balance.


In the example given earlier you will pay a rollover fee of 9k on the outstanding loan of 900k


It is only FSDH Capital that does not charge rollover fees

Okay, well noted.
Doest FSDH also accept dollar fund as a collateral like ucap? because i prefer that against devaluation compared to naira MMF as collateral with Stanbic

ProphetUtuocha:
Folks should keep an eye on Oando. Interesting developments soon.
I won't talk much!