mails4funshi:
https://doclib.ngxgroup.com/Financial_NewsDocs/42575_OANDO_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_NOVEMBER_2024.pdf

yMcy56:
Egungun don land o

https://doclib.ngxgroup.com/Financial_NewsDocs/42575_OANDO_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_NOVEMBER_2024.pdf

mails4funshi:
I was told categorically to move my account cos the value was less 5M. This happened post the 2008 market crash.

mails4funshi:
https://doclib.ngxgroup.com/Financial_NewsDocs/42575_OANDO_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_NOVEMBER_2024.pdf

BabsO2:
Make we wait for 2024 Q1, Q2 and Q3

designking:


Yes. I initially wanted to invest ₦5million on Aradel but held back after it was listed on NGX. I planned entering from ₦500/share and I have been going in ₦500k+ every time it dips 10% till I exhaust the ₦5million.

If it dips 10% on Monday, I will go in again. It is a risk/gamble I am willing to take.

megawealth01:
Wale don repent?

MARKETJJC:


Yes, senior bros

OANDO 2024 results will be tsunami

yMcy56:

N60bn Profit After Tax (Group)
Shareholding structure : 73.21% belongs to only 3 individual(s)/ entity(s)........as at 31st December, 2023, may have possibly increased by now

Over to the analysts.....

emmanuelewumi:
Madam try to read the auditors report on pages 10 to 19.

Comprehensive loss of about N200 billion

emmanuelewumi:
Please read the auditors report on pages 17 to 19.

By the way why did they change auditor, the account used to be audited by one of the big 5

mails4funshi:
https://doclib.ngxgroup.com/Financial_NewsDocs/42575_OANDO_PLC-_QUARTER_5_-_[b][/b]FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_NOVEMBER_2024.pdf

emmanuelewumi:



Madam try to read the auditors report on pages 10 to 19.

Comprehensive loss of about N200 billion

BabsO2:


Make we wait for 2024 Q1, Q2 and Q3

GeeKudi:


I am not sure of any particular thing you are trying to point out in those pages.

It is a matter of public knowledge that OANDo is n debt and this is well acknowledged in the report.
There is however, a clear path to addressing these challengies through instruments like debt refinancing and raising equities.
See screenshot below.

And by the way, we all have the whole of the weekend to do this. So, don't be too much in a hurry to direct anyone to any page. Give them time to read the document. It's 99 pages!

yMcy56:
OANDO PRESS RELEASE
https://doclib.ngxgroup.com/Financial_NewsDocs/42576_OANDO_PLC-OANDO_PRESS_RELEASE__CORPORATE_ACTIONS_NOVEMBER_2024.pdf

KarlTom:
This is massive

10% on Monday?

bovali:


Key takeaway: They are not delisting

Current Equity Talks and Debt Management:

• Equity Raising: The company has indicated that it is in active discussions with potential equity investors. This step is part of its broader plan to bridge the funding shortfall that remains after debt refinancing. Management has noted that these equity injections are crucial for covering approximately 46.4% of the funding gap that will not be resolved through debt restructuring alone.
• Debt Refinancing: While refinancing existing debt is a significant part of Oando’s strategy, this alone is expected to address only about 53.6% of the funding gap for the fiscal year ending December 2024. The success and timing of these equity talks are crucial, as delays or failures could significantly impact the company’s financial health and ability to continue as a going concern.

KarlTom:
This is massive

10% on Monday?

Bagwa:
.

Locotrader:
Cardinalstone APP is the best among all the brokers app I have navigated.

The App alone puts them ahead of other brokers.Seamless and user friendly.

When they bring their brokers fees to 0.5%,they will control 20% of the entire market by volume/value

jonnysessy:


Have you lifted the technical suspension @ NGX ?

bovali:


My Opinion o. High Level Summary:
Active Engagement With Equity Investors
- [ ] Equity Injection Plan: The company has plans for equity raising through strategic investors to provide a much-needed boost to its capital base. Management has indicated that agreements with potential equity partners are under negotiation, but they remain cautiously optimistic about the timeline and outcomes of these talks. They plan to leverage these potential capital injections to maintain liquidity and avoid disruptions to operations

Debt and Liability Management:

- [ ] Medium-Term Loan (MTL) Renegotiation: Oando successfully renegotiated its MTL to include an 18-month moratorium and a revised four-year repayment schedule. This restructuring was aimed at easing immediate repayment pressures and stabilizing the company’s cash flow. The settlement of outstanding interest and fees by October 27, 2024, is a key condition to avoiding default.
- [ ] Debt Structuring and Pledges: Oando has pledged various security interests as part of its debt agreements, including a fixed and floating charge on assets. This move reinforces lender confidence and aligns with the company’s strategy to secure refinancing
- [ ] High Finance Costs: Finance costs remain a significant burden, contributing to a net finance cost of N116.5 billion in 2023. This increase from N81.6 billion in 2022 underscores the impact of high-interest borrowings

Strategic Acquisitions and Investments:

- [ ] Acquisition of NAOC Working Interest: Oando completed the acquisition of Nigerian Agip Oil Company’s (NAOC) working interest in OML 60 – 63. This acquisition is part of its upstream growth strategy and has implications for increased revenue and asset base
- [ ] Deferred Payment Structure: The company also secured a share purchase agreement for a 55% equity stake in Lakel Afrik Petroleum Limited, featuring a deferred payment model. This strategic investment aims to support future growth while managing current cash outflows

Going Concern and Financial Sustainability:

- [ ] Material Uncertainty: The financial statement highlights significant doubt regarding Oando’s ability to continue as a going concern due to its negative equity, consistent net losses, and a working capital deficit projected to reach N3 trillion by year-end 2024
- [ ] Planned Funding Solutions: To address these challenges, management plans to complete an equity raise and issue bonds totaling N1.5 trillion. This funding is crucial to bridging the projected funding gap and supporting ongoing operations

Observed Financial and Operational Performance:

- [ ] Revenue Growth: Revenue has shown a substantial increase to N2.85 trillion in 2023 from N1.99 trillion in 2022, attributed to improved trading and upstream operations
- [ ] Operating Profit: The operating profit rose sharply to N218.3 billion in 2023, signaling better operational efficiencies compared to N20.6 billion in 2022
- [ ] Net Loss Position: Despite increased revenues and operating profits, net losses widened to N216.2 billion in 2023 from N41.7 billion in 2022, largely due to rising finance costs and accrued liabilities

Improvement Areas:

- [ ] Debt Management: Continued focus on restructuring and reducing finance costs is essential to ensure sustainable profitability and financial health.
- [ ] Equity Strategy Execution: The successful conclusion of equity discussions and securing investor commitments will be pivotal in restoring financial stability.
- [ ] Cost Optimization: Enhanced cost management, particularly related to interest-bearing debt, will aid in reducing financial strain

My 2 cents (On the issue of going concern, if they were going to fail, lenders would not be approving new loans or agree to restructure . See the bigger picture ❤️&💡