CashDiMkpa:


You are absolutely correct. Reading through the comments today and December 2018 (on Diamond Bank) etc. it all sounds similar and familiar but lots of people still made money from those stocks.

I can bet many people here baying for Wale Tinubu's blood have quietly taken positions on the stock.

Stop wasting your time on a bet.
I don't think there is anyone here that owns 50 million units of Oando.
We are all husslers.
If you have to take a bet, it should be against the brokers, the mutual funds, and few politicians. You can never hear them on dz platform.
The tashere units in our individual portfolio is what we are trying to protect.
No matter what people posts on dz forum, I don't think it can influence buy, hold or sell decision of an individual.

https://nairametrics.com/2019/06/03/shareholders-explains-why-secs-move-on-oando-is-backed-up-by-cama/


Even shareholders supports this action by sec.

Stocks with new 52 week lows
Uacn #6.25k Consolidated hallmark #0.21k Seplat #500.00k Dangote sugar #12.00k Nascon #14.75k Oando #3.80k Boc gases #3.76k Gsk #7.65k JB #19.70k

Michael11stock:
https://thenationonlineng.net/breaking-court-restrains-sec-from-removing-oando-directors/amp/?__twitter_impression=true

This court case might sink Oando.

SEC got nothing to loose, they can be on Court forever.

stcool:


The court proceedings is just a way to buy time, that is if they even obey the court...SEC can go and buy their own court order. Is it not Nigeria?

But eventually Wale would go!

Wale and Boyo are smart thieves.
They are worst than Yahoo Boys coz it will be difficult for them to loose out in any board meeting.
Most of the preferential shareholders in oando would definitely vote for them to continue. Coz they are are all corporate thieves.
The minority investors are the biggest loosers in dz game.
They are the one that will still mop up the huge offers being dumped by portfolio investors.
As rightly mentioned, the stock can make people rich and equally bankrupt people.
The Oando case should not be compared with diamond bank that gave out toxic loans to investors some of which Amcon/ access could still redeemed in the long run..
Oando on the other hand is heavily indebted to banks and individuals, some of whose debts were converted to preferential equities in oando.
The COP assets bought by Wale is not yielding the expected result, hence his plan to borrow more money to finance oando upstream operations. This he made mention in February 2019 while briefing investors on the company's journey so far.
The downstream assets of Oando in Nigeria and Ghana has been disposed to offset debts.
He needs more money from the public to acquire cutting edge technology that will eventually delivers the expected breakthrough from the upstream assets.
We need not be too optimistic on Oando recovery coz wale and Boyo have messed up things beyond recovery. This was clearly stated by the company auditor.. Ernst and Young, that it was difficult for the company to continue operating( April 2019.) Due to heavy liability that outweighs inflated assets by over 60 billion NGN

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2019-04-02/oando-s-ability-to-continue-operations-questioned-by-auditors

Godlylifeoneart:


Wale and Boyo are smart thieves.
They are worst than Yahoo Boys coz it will be difficult for them to loose out in any board meeting.
Most of the preferential shareholders in oando would definitely vote for them to continue. Coz they are are all corporate thieves.
The minority investors are the biggest loosers in dz game.
They are the one that will still mop up the huge offers being dumped by portfolio investors.
As rightly mentioned, the stock can make people rich and equally bankrupt people.
The Oando case should not be compared with diamond bank that gave out toxic loans to investors some of which Amcon/ access could still redeemed in the long run..
Oando on the other hand is heavily indebted to banks and individuals, some of whose debts were converted to preferential equities in oando.
The COP assets bought by Wale is not yielding the expected result, hence his plan to borrow more money to finance oando upstream operations. This he made mention in February 2019 while briefing investors on the company's journey so far.
The downstream assets of Oando in Nigeria and Ghana has been disposed to offset debts.
He needs more money from the public to acquire cutting edge technology that will eventually delivers the expected breakthrough from the upstream assets.
We need not be too optimistic on Oando recovery coz wale and Boyo have messed up things beyond recovery. This was clearly stated by the company auditor.. Ernst and Young, that it was difficult for the company to continue operating( April 2019.) Due to heavy liability that outweighs inflated assets by over 60 billion NGN

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2019-04-02/oando-s-ability-to-continue-operations-questioned-by-auditors

Diamomd bank that had assets was sent to N.80k and we are talking about Oando that has nothing and wants to borrow more money.... N.80k is expensive.

N.20K fall on Oando

OBAGADAFFI:
https://nairametrics.com/2019/06/03/shareholders-explains-why-secs-move-on-oando-is-backed-up-by-cama/


Even shareholders supports this action by sec.

Who is shareholders. Don't mind those reporters with their yeye stories. No shareholder meeting was held, no way to gauge their opinion.

Godlylifeoneart:
https://punchng.com/oando-court-restrains-sec-from-removing-tinubu-boyo/


The Federal High Court has restrained the Securities and Exchange Commission from removing Messrs Wale Tinibu and Omamofe Boyo as Oando Plc’s Group Chief Executive Officer and Deputy Group Chief Executive Officer, respectively.

Justice Mojisola Olatoregun sitting in Lagos granted an interim injunction following an application by the embattled GCEO and DGCEO.

The Oando chiefs had applied for enforcement of their fundamental rights.

A copy of the order was obtained by the news agency of Nigeria.

The court also restrained SEC, its servants or agents from taking any step concerning the commission’s letter dated May 31 in which it barred Tinubu and Boyo from being directors of a public company for five years.

It also restrained the commission from imposing a fine of N91.13 million on Tinubu.

It also ordered that SEC should restrain from all actions on the said letter pending hearing and determination of the applicants’ motion for an interlocutory injunction.

The court also restrained Mr Mutiu Sunmonu from acting as the Head of Oando’s interim management team pending the hearing and determination of the motion.

It also urged the parties to maintain the status quo ante pending the determination of the motion.

The court adjourned the case until June 14.

God forbid it ó, if these guys win Oando will bear the cost of the court.

phemmie06:


God forbid it ó, if these guys win Oando will bear the cost of the court.

It's like you don't know Wale is up against the Northern Caliphate and cannot win this round

Did former CJN not rush to get court order... They block you from entering that office with presence of heavy security men and nothing will happen.

Abuja high court would soon issue it's own order enforcing SEC's right as a regulatory body discharging it's lawful duties...

las las EFCC will pick him!

Mpeace:
Who is shareholders. Don't mind those reporters with their yeye stories. No shareholder meeting was held, no way to gauge their opinion.

I am shocked you're saying this.

There are career shareholders in Nigeria, they don't have any other job other than to monitor AGM, Boards meetings and SEC/NSE information.

Every Chairman BOD members, must lobby them to get reelected.

Ask our guy that attended Caverton AGM

Those guys are on speed dial.

YOU TOO CAN LEARN FROM THIS SPLENDID RICH MAN

https://www.nairaland.com/3560501/holineness-righteousness-revival-messages-bible/22#78969493

OBAGADAFFI:

I am shocked you're saying this.

There are career shareholders in Nigeria, they don't have any other job other than to monitor AGM, Boards meetings and SEC/NSE information.

Every Chairman BOD members, must lobby them to get reelected.

Ask our guy that attended Caverton AGM

Those guys are on speed dial.

We need to start snapoing their pics and posting on this thread, we dont need to know their names just their faces so that if someone goes for maybe rakunitypet agm and finds them,we know whats up their sleeves

robobo:
injunction granted this afternoon as envisaged
close of Act 3 scene 1 we move to Act 3 scene 2 after resumption from sallah by then we wld have known who is after wale this time, then can properly dimension / project how it would pan out

It's like me and you dey watch this film from different station. Yours is faster, seems you get access to the movie director.

maishai:


We need to start snapoing their pics and posting on this thread, we dont need to know their names just their faces so that if someone goes for maybe rakunitypet agm and finds them,we know whats up their sleeves

LoL, we don't need their pictures, they always show their presence at AGM by moving motions and seconding immediately.

Mpeace:
https://www.nairaland.com/5224613/airtel-glo-9mobile-list-nse

Airtel - Yes

Glo - No ( Baba Adenuga can be very stingy)

9moblie - no ( swimming in debt and ownership crisis)

What to Expect from NAICOM's New Capital Requirements for Insurance Industry
https://businesspost.ng/2019/06/04/what-to-expect-from-naicoms-new-capital-requirements-for-insurance-industry/

STOCK MARKET UPDATE 4 JUNE 2019

On 3 June 2019, MSCI continues with more selling while buying only Dangote cement. Oando was among those sold.

Get the MSCI portfolio for the day here: [url]http://portfolios.morningstar.com/fund/holdings?t=NGE [/url]

You will see our yesterday's figure there. You get the latest figures around 1pm to see how many units of Oando were sold.

Data used are assumed to be correct. However, you may want to verify the data from an appropriate source. Also, Institutions can afford to suffer big losses without going burst compared with an individual, you cannot follow them blindly (you need to at least have some knowledge/your own plan). This document remains the personal property of Target technical analysis (https://twitter.com/AnalysisTarget) and is not to be distributed without our authorization.

maishai:


We need to start snapoing their pics and posting on this thread, we dont need to know their names just their faces so that if someone goes for maybe rakunitypet agm and finds them,we know whats up their sleeves

Please can someone let us know the different shareholder associations that we have? Cos I think these guys are apart of the problem.


I have seen these guys at AGMs. Infact their attitude is why I do not attend AGMs.

They always rubber stamp everything the management brings. They are so much concerned about collecting souvenirs and annual reports (which they never read). They all seem to be happy to just participate in the AGM process.

Their action make the serious investors loose hope and decline to attend meetings just the same way the knowledgeable ones have been 'chased' out of politics in Nigeria.

Believe me, most of them so not know anything serious about investments.

They play a serious part in the rot that in the NSE.

https://nairametrics.com/2017/09/14/a-corporate-story-on-oando-plc/

some folks need to read up this article again. Oando is not a goldmine ooo but laden with plenty landmines

Mpeace:
Who is shareholders. Don't mind those reporters with their yeye stories. No shareholder meeting was held, no way to gauge their opinion.

They are arranged and settled nicely by the Board of Directors of most quoted companies. Anyone that want to ask serious questions will never be called.

austinkenneth:


Please can someone let us know the different shareholder associations that we have? Cos I think these guys are apart of the problem.


I have seen these guys at AGMs. Infact their attitude is why I do not attend AGMs.

They always rubber stamp everything the management brings. They are so much concerned about collecting souvenirs and annual reports (which they never read). They all seem to be happy to just participate in the AGM process.

Their action make the serious investors loose hope and decline to attend meetings just the same way the knowledgeable ones have been 'chased' out of politics in Nigeria.

Believe me, most of them so not know anything serious about investments.

They play a serious part in the rot that in the NSE.

austinkenneth:


Please can someone let us know the different shareholder associations that we have? Cos I think these guys are apart of the problem.


I have seen these guys at AGMs. Infact their attitude is why I do not attend AGMs.

They always rubber stamp everything the management brings. They are so much concerned about collecting souvenirs and annual reports (which they never read). They all seem to be happy to just participate in the AGM process.

Their action make the serious investors loose hope and decline to attend meetings just the same way the knowledgeable ones have been 'chased' out of politics in Nigeria.

Believe me, most of them so not know anything serious about investments.

They play a serious part in the rot that in the NSE.

Unlike most of us here that are traders/ investors.

These guys are mostly long timers who lives on Dividend and Bonus.

Surprisingly they have shares in almost all listed companies on the NSE even if it is 10units.

stcool:


It's like you don't know Wale is up against the Northern Caliphate and cannot win this round

Did former CJN not rush to get court order... They block you from entering that office with presence of heavy security men and nothing will happen.

Abuja high court would soon issue it's own order enforcing SEC's right as a regulatory body discharging it's lawful duties...

las las EFCC will pick him!

Some of ur assertions are not far from the truth my dear.
But I want to believe that the current tussle is NOT between Wale/Boyo and Mangal.

A brief;

At the fallout of the last battle(before the removal of the ex-sec DG, Mr Gwarzo), Mangal made peace with Wale/Boyo, and was eventually allowed to have(some) things his way... part of which was the appointment of 3 non-executive directors to the OANDO board.
To add credence to this, I noticed that the SEC after terminating the positions of the current board led by Mr Wale/Boyo, left the 3 director representatives that were supposedly appointed by Mr Mangal.(we know these directors).
So the current power tussle is not about Mangal.
...it is between Wale/Boyo and the Italian heavyweight, Mr Gabrielle Volpi !!
That said, I believe that Mr Wale & co will likely eventually bulge like they did with Mangal... while Mangal shall team up with Mr Volpi to steer the OANDO ship. ...they(wale/boyo) have fewer options to 'play their smart pranks' this time.
There is a strong 'political play' in the mix of all these. We can draw a strong link btw the Volpi/Atiku-Pdp/Intels-logistic business arm/Gwarzo/Kaduna and the Wale-Boyo/tinubu-Apc/Oando-cop asset/Adeosun/Lagos line of words... but that would be a matter for another day, since this is not a political forum.

I am not surprised that the fight back by Volpi after initially soft-pedalling following several petitions against Wale & co by his firm, Ansbury inv Inc.(which he won) is coming right after the heated Pdp/Apc elections(and everything that has had to precede and proceed it) and just 2 weeks after the NPA had terminated its boats pilotage M&S agreement with INTELS over what it called, a failure to remit near $146M to the FGs TSA.

Wale is just been unnecessarily overbearing. He can not steer the ship in OANDO without the support of Volpi.
We already know that Mr Volpi brought over 45%(~$680M) of the total proceeds($1.5B) used for the purchase of the COP asset.
We also know that Mr Volpi's key company, Ansbury inv. is the single largest stakeholder(61.9%) in Ocean and Oil Development Partners Limited (OODP BVI), a special purpose vehicle registered in Britain.
...and that OODP Nigeria, a subsidiary of OODP BVI owns a near 56% stake in OANDO PLC which is quoted on the NSE and JSE.
Extrapolate those figures, and u'll find out that Mr Volpi also owns the highest stake in OANDO PLC and so should be the biggest 'shaker' as it concerns the affairs of the firm.
In a sane clime, even the balance of 38.1% holding in OODP BVI should have trickled down to the minority shareholders of OANDO PLC following the COP asset aquisation but Mr Wale & his kleptomaniac gang played out their usual pranks and housed it under the name Withmore Ltd in 2012.
Infact, most of the criminal activities that was carried out by Wale & co was btw 2012(cop asset play) and 2015.
I recall writing an indept analysis on why I believed the financial prints from OANDO in 2013 and 2014 were at best fake.(just like I have done with FBNH here recently)
Wale & gang played out a lot of financial shenanigans. ...there were even instances at the time when the NTS in OANDOs financial print was inconsistent with their top and bottom line figures.
I guess Wale was trying to 'hatch and prepare the enabling environment' to steal from the returns of the COP asset once it begins to yield fruit, little did he know that God was going to chastise them with one of the greatest pull back of all time in oil price !!
If u read thru the SEC disclosure of 31st May, u would notice that most of these RED FLAGS we raised then are a core part of what the SEC has put out against Wale's OANDO.(issuing them a fine for publishing untrue figures btw 2012-2014 and non-disclosure of related party transactions in its 2014 financial statements)
One wonders why the SEC had to wait until now to spot these shenanigans !!
Even Volpi is not left out. It begs the question why he had to wait this long to 'speak up' ?
Mr Mangal, I am sure is now apparently relaxed. ...after all, most of his quest has been met.
So from where am standing, all entities(Wale & co, Volpi and Mangal) are to blame. Even the minority shareholders also share a small part of the blame.
We must learn to speak up and push to fight the right fight. We must at the very least, let our voices be heard !! We must understand that no one would care if we dont. No one cares about the minority shareholders. ...No one ever does.
In all of these though, the biggest blame must go to Wale. ...he and his co managers are the ones that were saddled with the responsibility of overseeing and improving shareholder value.
That's why everyone is and will continue to call out for him.

Thank God we sold off our OANDO shares, talking a heavy loss when I noticed what was clearly 'a daylight robbery crew' led by Wale, back then.
I remember advising a colleague who's late father had over 1.3M units to sell off when the stock was trading above N41.
...it would've been far worse if we had held our stakes until now.
Maybe someday, a tussle of this nature will also dig up the trend of the current shenanigans we've noticed in FBNH.
...like it did when we also advised folks to sell off their stakes in LARFAGE WAPCO at the time it was selling for near N50. ...we all know that WAPCO has since lost a huge % of that, wallowing @ just N10+ now !!
The rot in the Nigerian system is beyond deep !! ...the coperate world is structurally configured 'to take from the minor and give to the elite'
The reason it's become even more imperative than ever to DEFINE U and inculcate in that definition, the WHY, WHEN and HOW to go about any investment before taking a plunge. ...particularly in the stock market.

I have since said that the best thing to do with OANDO is avoid it like a plaque !! ...at least for now.
Until the fraud called the current magt is out of the way and there is some good measure of certainty with the way forward.
Those looking to make quick gains should remember IKEJA HOTEL. ...that coy is yet to recover from its many woes.
To those drawing comparisons with what played out in DIAMOND bank to the current happenings in OANDO, pls hear this; the case of DIAMOND is in many ways, different from that of OANDO !!
Sometimes, when trends like these(ousting the magt of a company board) play themselves out, the previous managers will work to frustrate any progression.
Again, unless u are a very good technical analyst or 'the man who can see tomorrow', stay off from OANDO.
Not much is left of that coy for the minority shareholders.
...take out the core assets of driven VALUE which drives better cashflow(which has either been sold or divested) and that coy is just a 'weighty chaff'.

A word, they say...

DISCLAIMER: Still NOT to be infered as any sought of recommendation. ...due diligence should still remain ur 1st priority.

These are Nigeria's 10 Biggest Stockbroking Companies
https://businesspost.ng/2019/06/04/these-are-nigerias-10-biggest-stockbroking-companies/

Thank you Sir. I hope they will hear and heed to the words of wisdom.

onegentleguy:

rebekah2011:
Thank you Sir. I hope they will hear and heed to the words of wisdom.

OGG sold to someone, if there were no bids, how would he have achieved that?
Is the person he sold to, hopefully, not a better investor now?
As long as bids and offers are here, everyone will be fine.
Shares will be exchanged for experience!

Telecom companies pay millions of dollars for FREQUENCY, it is delivered in WORDS!

No one will be cheated.

Can what played out in Dangote flour/Tiger brands play out in oando in the next 3 years....... I'm spoting a pattern, though it is extremely risky but I want to believe the battle for the heart of oando means there is a Hugh honey pot that might just spill down we retail investors..... I'm not deep into oando but will start buying at #1 to average down till Pandora folds up

masotech:
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lol, hungry set of shareholders are responsible for the votes at AGM, ready to be bought by the highest bidder.

See them almost causing stampede because of gift bags, at Caverton's AGM.

https://www.youtube.com/watch?v=tpu0DekKaow

OBAGADAFFI:

I am shocked you're saying this.

There are career shareholders in Nigeria, they don't have any other job other than to monitor AGM, Boards meetings and SEC/NSE information.

Every Chairman BOD members, must lobby them to get reelected.

Ask our guy that attended Caverton AGM

Those guys are on speed dial.

Intendy:
Stocks with new 52 week lows Uacn #6.25k

This is what we say about following hot money or bandwagon sometimes. The way they were rush.ing this stock on monday one would think it would close at day's high.
I'm sure some Nsempas followed them russ am, they wouldn't make mouth now but quietly nursing their woundjurement.