Sunrisepebble:
FINAL and FULL info on FMN, as it is no longer classified info and has spread far and wide within various circles, the coy wants to delist from the exchange. And will ofcourse purchase at a premium. The premium was set around #70 while the stock was trading ~#45, however with recent gains, it will be revised upwards. HONEYFLOUR will be included in the transaction, as they want to delist the two entities, consolidate and then list again as a new entity. Purchase price for HONEYFLOUR, I am unsure of. Congrats to all those who listened to the initial signal

nosa2:


double entry

Sunrisepebble:
Those who followed me when I was hawking Aradel @ #4-5k, congratulations, you should have made 100%+. The quickest and easiest money I’ve made in my life. This is just 1 phase out of 3 that I foresee. Today was the last day of trading, as redenomination will commence tomorrow and shares should be tradeable on Monday at #490 using today’s closing price. Phase 2 of the second rally, is the 3 week window where it’ll trade at the split price and Phase 3 when it comes to NGX in October. Note: I do have some valuation concerns around the stock now, considering it is trading at the same market cap as Seplat which is a bigger company in terms of production and reserves, although Aradel has a different business model also operating in the midstream space. Due to my concerns, I have sold down my initial principal at todays high and hoping to Jijo with the profit in Phase 2 and 3.

emmanuelewumi:




Assuming the N300 million asset of Emeka and Uche generate the same annual cash flow of N100 million per annum.

Emeka can use N70 million to service his N160 million debt, reinvest in his business.


Whereas the N70 million annual cash flow of Uche can't service his N350 million debt. He will rely on overdraft for the running of his operations, will always be renegotiating loans with his bank, will be using debts to service debt


The only way Uche can get out of this quagmire is recapitalize his business, inject more capital in form of equity.

emmanuelewumi:



No record of free cash flow for Uche, infact he had to sell his Jeep, land and house in order to enhance liquidity yet his liabilities are more than his assets


Another major problem with him is with his working capital

He found out he could get cheaper loans from First Bank, so he got another loan from First Bank in order to settle Access Bank because those guys at Access are Badass

Sunrisepebble:
As someone as said previously here before, what is overvalued to me, may be undervalued to the rest of the investors and the world. Hoping this is the case

GeeKudi:


From 20,000bpd to confirmed 40,000bpd in few days after taking over, with projections for 100,000bpd by December this year. Uche may have had a rough past but an objective evaluation of Uche's future shows promises of good fortune.

emmanuelewumi:

I will advise you to study his accounts again, he doesn't have free cash flow, working capital is in negative same with solvency state

presiade:


He would be considered a ritualist if he was a Nigerian!!! Mentality.

emmanuelewumi:



Cash is real but earning is an opinion.

There is usually a 70% probability that forecast will go wrong.

Uche can't just come out of his negative net asset and negative working capital by virtue of the purported increase in revenue.

In fact to harness the opportunities he will go deeper in debt.

It is not all growth that leads to profitability and it is not all profitability that creates wealth, it is not all wealth that is sustainable.

It is when the tide is over that we will know those that are swimming naked.

GeeKudi:


The 20k to 40k is no longer in the realm of projection. The revenue from selling MW to the national grid is no longer in the realm of projection. The fact that Uche is a favored son (nothing wrong with this, we all wish to be) is not a projection.

Why do you want to permanently tie Uche down to his past and not accord him any chance of survival at all?

BabsO2:


Not used to calculating free cash flow. I understand the concept. Look at the cashflow statement. Oando had a neat positive FCF in 2023 unaudited of N105 billion.

Please can experts in FCF calculations please cross-check.

yMcy56:
NASCON Bonus
Pls, has any Morgan user been credited with this bonus?
Or you've seen it credited to your CSCS statement?
Thanks in anticipation.

emmanuelewumi:


Uche business is not up to this size na.

Is this an audited report?

BabsO2:


Uche's business is MEGA
Unaudited 2023.

zendi:

Sitting on a $280b mountain of cash, said to be only half of his company's portfolio size, and refusing his loved one a humble request of $40,000 tied to a specific need, suggesting it's not a habitual pestering for money.........

Here is what a miser looks like, both in Africa and in America.
At 80+ what much time left does he have to share love?

emmanuelewumi:



Using unaudited result will be misleading. Wait till he resolves the argument he is having with his auditors, accountants and tax professionals

BabsO2:


No matter the argument FCF is between N100b & N200b

yMcy56:
I think las las, Flour Mills will buy out the minority shareholders OR merge with Honeywell and allocate FMN shares to minority shareholders in form of share conversion in ratio distribution.

Presently 71.69% acquisition from Honeywell Plc + 5.06% from FBNH....... totalling 76.75%

Remaining minority owns mere 23.25%.
There might be need for rebranding .........

Was posted here sometimes ago but many didn't agree to this.

crownprince2017:
Why is it when fmn is out of debt that they want to delist at #70, we suffer together but they want to enjoy the fruit alone. Na wayo they want do ooooo.

emmanuelewumi:



I didn't think they will delist, they might restructure the business.


It is a conglomerate with interest in flour milling, agriculture, food production, sugar production, port management, real estate, fertilizer production, logistics etc

crownprince2017:
Why is it when fmn is out of debt that they want to delist at #70, we suffer together but they want to enjoy the fruit alone. Na wayo they want do ooooo.

2zona:
Morgan will not have the figure updated in your portfolio but it's existing in your portfolio already.

What do I mean.?

If you have existing 5 units in your portfolio and you are expecting 2 units of bonus. Morgan will not update your portfolio to 7 units. But if you place 7 units for sale, it will go through.

Tpharell:

Now, this is a rather bleak picture!
But Uche is able to keep up appearances, and is considered the toast of the town amongst young women in the area.

Sunrisepebble:
.The premium was set around #70 while the stock was trading ~#45, however with recent gains, it will be revised upwards. HONEYFLOUR will be included in the transaction....