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Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 4:25pm On Aug 28, 2019 |
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Re: Nigerian Stock Exchange Market Pick Alerts by pluto09(m): 4:31pm On Aug 28, 2019 |
Mcy56: They are acquiring 500k now which is very insignificant considering the total OS. If you have taken position just keep your ears to the ground. If you are lucky it can turn out to be a very good one. On the other hand it might mean nothing in the scheme of things. FO .......confusing investors from time immemorial... 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Calebbold: 4:33pm On Aug 28, 2019 |
Mcy56: They are increasing their stake from 74.02% to 74.06%... that's why they require only 500k extra shares |
Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 4:35pm On Aug 28, 2019 |
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Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 4:36pm On Aug 28, 2019 |
Calebbold:Thanks. |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 4:36pm On Aug 28, 2019 |
meshpips: Since the $844. 60 profit is part of the $2,307.58 Balance, then that means that as at yesterday your balance was $1,462.98. When you compare this ($1,426.98) with what @Northeastern posted about your portfolio $2710.63, it means you actually lost $1,247.65 between last week and yesterday. This is 46% loss from last week portfolio position. Then today you made a gain of $844.60 on the balance of $1,462.98 (yesterday's balance). This is 57.7% gain on yesterday balance. So you lost 46% last week? I actually did backwards calculation to get all your positions! ![]() Hope you see that live trading is different from demo? |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 4:38pm On Aug 28, 2019 |
currentprice: He didn't withdraw. He lost around 46% of the fund between last week(posted by Northeastern and put at $2710) and yesterday. So he traded wutg the remainder today and got $844. He didn't withdraw. He lost instead! |
Re: Nigerian Stock Exchange Market Pick Alerts by currentprice: 4:40pm On Aug 28, 2019 |
RabbiDoracle: Chai! ![]() ![]() ![]() ![]() ![]() |
Re: Nigerian Stock Exchange Market Pick Alerts by currentprice: 4:42pm On Aug 28, 2019 |
RabbiDoracle: sure i agree. he loss just predicted what he will say ni ![]() ![]() |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 4:44pm On Aug 28, 2019 |
currentprice: That $844.60 shows positions thar he has closed today. So if you close the positions, your balance increases. Now take out today's profit and see what was left as at yesterday. Then compare what was posted last week ($2710) against what was there as at yesterday close of trade. This shows a loss. And today it shows a good gain. |
Re: Nigerian Stock Exchange Market Pick Alerts by Agbalowomeri: 4:46pm On Aug 28, 2019 |
RabbiDoracle: Gambling don enter the guy blood Lol Zero money management How do you even trade forex with that meagre portfolio and taking on huge risk? |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 4:51pm On Aug 28, 2019 |
RabbiDoracle: You love maths o. But I believe you are a troublesome forensic mathematician.... ![]() |
Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 4:51pm On Aug 28, 2019 |
RabbiDoracle:Oga Rabbi, abeg make una help this guy climb up na. Guess he's trying.......that's the way I see it. ![]() 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by currentprice: 4:53pm On Aug 28, 2019 |
Agbalowomeri: 1.25 standard lots with buy/sell pending order on account of $2700 is huge risk o this is get rich quick thingz ![]() ![]() ![]() 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Northeastern: 4:56pm On Aug 28, 2019 |
Mcy56: Shebi you dey look for alternative source of income, invest in him with your transcorp loot, let’s see how it goes before we join. Because deepsuk go sabbatical you don forget say you be police here kwo? You’ll be demoted once she is back 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by pluto09(m): 4:59pm On Aug 28, 2019 |
currentprice: I tell you, risk management is very poor, may be it is not his money.......blowing people money away on forex .... ![]() ![]() ![]() |
Re: Nigerian Stock Exchange Market Pick Alerts by Agbalowomeri: 4:59pm On Aug 28, 2019 |
Northeastern: Deepsuck alias Bigass portfolio wiped out a second time ![]() |
Re: Nigerian Stock Exchange Market Pick Alerts by lancee(m): 5:04pm On Aug 28, 2019 |
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Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 5:09pm On Aug 28, 2019 |
Mcy56: I am not against him o. I'm only analysing what I think transpired in the discrepancies posted by members. Mine na to solve issues o. If meshpips brings a puzzle, I go try rack my brain around it and solve it. If others bring theirs, I go try find solution. 3 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by currentprice: 5:11pm On Aug 28, 2019 |
Mcy56: he is top trader na. he no fit learn from newbie he is good guy sha i know him well , it just forex that dealing with him ![]() ![]() 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 5:20pm On Aug 28, 2019 |
Northeastern:Chai! ![]() This guy don step on your toes too much. You just be on his case. ![]() Abeg forgive him biko, we're all humans. E jowo sir. ![]() |
Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 5:21pm On Aug 28, 2019 |
Forte Oil Releases Document On Take Over Offer - investadvocate.com.ng Aug 28, 2019 3:31 PM Background to the Take-Over Offer On 24 June 2019, Ignite Investments acquired 970,166,694 Ordinary Shares representing a 74.02% equity stake in Forte Oil from Zenon Petroleum & Gas Limited (“Zenon Petroleum”), Thames Investment Incorporated (“Thames Investment”) and Femi Otedola, for a cash consideration of N66.25 per share. The acquisition was consummated following the execution of a share purchase agreement between Ignite Investments, Zenon Petroleum, Thames Investment and Femi Otedola, and the approval of the SEC and The NSE. The trade was executed on the The NSE on 19 June 2019 and the shares were credited to the CSCS account of Ignite Investment on 24 June 2019 in line with the T+3 settlement period. In accordance with Section 131(1) of the ISA and Rules 445 – 448 of the SEC Rules and Regulations (as amended), Ignite Investments is required to make a Take-Over Offer to all the other shareholders of Forte Oil. Consequently, on 19 June 2019, the Board of Ignite Investments granted approval for a Take-Over Offer to be made to all Qualifying Shareholders, for the acquisition of the Offer Shares. A copy of the Board Resolution of Ignite Investments approving the Take-Over Offer is set out on page 20. Pursuant to Part XII of the ISA, Ignite Investments is allowed to make an Offer for all or a portion of the shares of the other shareholders of Forte Oil. Ignite Investments desires to acquire up to 500,000 Ordinary Shares representing 0.04% of the total issued and fully paid up share capital of Forte Oil. The Take-Over Offer, the terms of which are set out below, has been authorised and registered by the SEC. Please read carefully Clause 5.9 on page 14, which sets out the procedures for acceptance of the Offer. Your attention is drawn, in particular, to the conditions and further terms of the Offer set out in Appendix I of this document and in the Acceptance Form. The Take-Over Offer Ignite Investments holds 970,166,694 Ordinary Shares representing 74.02% equity stake in Forte Oil as at 24 June 2019. Ignite Investments hereby offers to purchase, subject to the terms and conditions described herein, all or part of such Qualifying Shareholder’s registered holding of Ordinary Shares (as registered to such Qualifying Shareholder in the Register of Members of Forte Oil on the Qualification Date) subject to the following: a) Under the Offer, Ignite Investments shall only acquire the Offer Shares of up to 500,000 Ordinary Shares at the Offer Price of N=66.25 per share (free of all commissions) in cash from Qualifying Shareholders so that its aggregate interest in Forte Oil would be 74.06% of the issued and paid up capital of Forte Oil; and b) Notwithstanding the above, if the total number of Ordinary Shares comprised in acceptances or deemed acceptances from Qualifying Shareholders exceeds 500,000, then acceptances shall be scaled back so that Ignite Investments shall only be obliged to purchase a pro-rated quantity of Ordinary Shares from each such Qualifying Shareholder, being a number equal to: In the event that this calculation results in a fractional number of shares to be acquired from a Qualifying Shareholder, such number would be rounded down to the nearest whole number. The Offer is intended to enable all Qualifying Shareholders to participate, should they choose to do so. Qualifying Shareholders who accept the Offer will not be obligated to pay brokerage fees or commissions or any transfer fees or charges on their acceptance of the Take-Over Offer to the Offeror or the Registrar. However, Qualifying Shareholders are cautioned to consult with their own brokers or other intermediaries to determine whether any fees or commissions are payable to their brokers or other intermediaries in connection with a deposit of Forte Oil shares pursuant to the Offer. The Offer Shares will be acquired pursuant to the Take-Over Offer free from all liens, equitable charges, encumbrances, rights of pre-emption and other third party rights of any nature whatsoever and together with all the rights now or hereafter attaching thereto, including, without limitation, voting rights and the right to receive and retain all dividends, distributions (if any) declared and any adjustment shares issued as a consequence of any corporate action made or paid after the date of this document. The Take-Over Offer will be open for acceptance from 8:00 a.m. on [â—] until the Offer Closure Time, being 5:00 p.m. on [â—]. Consideration and Payment for Offer Shares Ignite Investments will pay a cash consideration of N=66.25 per share to Qualifying Shareholders who accept the Take-Over Offer and validly deposit their shares. The Offer provides an opportunity for Qualifying Shareholders who wish to sell their shares to receive cash consideration of N=66.25 per share. The total consideration will be funded from existing cash resources held by or available to Ignite Investments. Ignite Investments has sufficient liquidity to fund the Offer. Ignite Investments estimates that if it acquires all of the Ordinary Shares stated under the Offer, the total amount required for the purchase of the Ordinary Shares will be N=33,125,000.00. Acceptance Conditions Ignite Investments shall not be obliged to take up, purchase or pay for, any Forte Oil shares tendered by a Qualifying Shareholder under the Take-Over Offer (such shares being the “Relevant Forte Oil sharesâ€) unless all of the following conditions are satisfied or waived by Ignite Investments at or prior to the Offer Closure Time: The Offer shall have been validly accepted or deemed to be validly accepted in accordance with Clause 5.10 on page 14 and the Qualifying Shareholder(s) shall not have exercised their right of withdrawal in respect of one or more Ordinary Shares as at the Offer Closure Time; The absence of pending or threatened material litigation, investigations or other matters in respect of the Relevant Forte Oil shares; The representations and warranties of the Qualifying Shareholders set out on the Acceptance Form on pages 23 to 24 are true and accurate in all respects; and The Relevant Forte Oil shares tendered are not subject to any charge, lien or other encumbrances. Eligibility This document is being sent to all Qualifying Shareholders. Qualifying Shareholders who prior to their receipt of this document have sold or otherwise transferred all of their shares in Forte Oil are requested to forward this document to the transferee, or to the agent through whom the shares were sold, for transmission to the transferee. The Take-Over Offer is open to the Qualifying Shareholders who may participate in the Take-Over Offer by depositing and not withdrawing some or all the Offer Shares held by them (with respect to the withdrawal, this can only occur within ten days after the date of the Take-Over Offer). Offer Shares would be deemed to have been deposited pursuant to the Take-Over Offer if a duly completed Acceptance Form and accompanying documents have been received by the Registrars before the Offer Closure Time. Dividends and Distributions Subject to the terms and conditions of the Take-Over Offer above in Clause 5.4, by accepting the Take-Over Offer and depositing Offer Shares in accordance with the procedures described herein, a Qualifying Shareholder agrees to sell, assign and transfer to Ignite Investments all rights, benefits, title and interest in all the Offer Shares deposited pursuant to the Take-Over Offer including any and all dividends and distributions which may be declared on or in respect of the deposited Offer Shares after the Offer Closure Time. Rights of Withdrawal Qualifying Shareholders may withdraw some or all of the Offer Shares they deposited pursuant to the Take-Over Offer at any time until [â—], i.e. 10 days after the opening date of the Take-Over Offer. Qualifying shareholders who wish to withdraw their Offer Shares must submit a written notification which should be delivered to the Registrars before 5:00 p.m. on [â—]. Over-Subscription of the Take-Over Offer and Scaling Back Following the Offer Closure Time, if the total number of Ordinary Shares comprised in acceptances or deemed acceptances from Qualifying Shareholders exceeds 500,000, then acceptances shall be scaled back so that Ignite Investments shall only be obliged to purchase a pro-rated quantity of Ordinary Shares at the Offer Price from each such Qualifying Shareholder being a number equal to: Any excess Forte Oil shares will be returned by the Registrars to Qualifying Shareholders on a pro-rata basis to the number of Forte Oil shares deposited under the Take-Over Offer. In the event that the pro-rata calculation results in a fractional number of shares to be acquired from a Qualifying Shareholder, such number of shares would be rounded down to the nearest whole number. Acceptance / Action to Be Taken Qualifying Shareholders should read this clause in conjunction with Appendix I to this document. Qualifying Shareholders who hold their ordinary Shares in certificated form must dematerialize their shares via their stockbroker in order to be eligible to participate in the Take-Over Offer. The instructions on the Acceptance Form are deemed to form part of the terms of the Offer. If you have any queries as to how to complete the Acceptance Form or require additional Acceptance Forms, please contact Veritas Registrars Limited, who is acting as the Registrars to the Offer, or Stanbic IBTC Stockbrokers Limited, who is acting as the Stockbrokers to the Offer, at their respective registered addresses set forth on page 10 of this document. If you wish to accept the Offer in respect of Forte Oil shares, please return the Acceptance Form duly completed and signed and accompanied with the stamp and signature of your stockbroker, to the Registrars at the address stated on the Acceptance Form with the statement of your CSCS account as soon as possible, and in any event so as to ensure that the documents arrive not later than the Offer Closure Time. Qualifying shareholders with corporate accounts will be required to present a copy of the board resolution authorising the verification of the CSCS statement and a signature mandate card in addition to their Acceptance Form. After settlement of the instruction, you will not be able to access the Forte Oil shares deposited in CSCS for any transaction or charging purposes. Acceptances to the Offer may be delivered by post / mail, by hand (during normal business hours) or by such other method of delivery as you may determine. The method of delivery is at your selection and risk. No acknowledgement of receipt of documents will be given by or on behalf of Ignite Investments. The instructions printed on the Acceptance Form are deemed to form part of the terms of the Offer. Neither Ignite Investments nor any of its appointed agents or advisers will accept or bear liability for any loss, howsoever arising, whether as a result of any fraudulent transfer of shares, forged / stolen share certificates, or any other fraudulent means, or as a result of delay, or failure to deliver an Acceptance Form or share certificate or CSCS Statements, or any other document required by or in connection with this document and the Acceptance Form before the Offer Closure Time. Validity of Acceptance Ignite Investments reserves the right, in its absolute discretion, to treat as valid in whole or in part any Acceptance of the Offer which is not entirely in order or which is not accompanied by the relevant CSCS statement and / or other documents of title. In that event, no payment will be made until after the relevant share certificate(s) and / or other documents of title or indemnities reasonably satisfactory to Ignite Investments have been received. Qualifying Shareholders who hold Forte Oil’s shares in uncertificated form and wish to accept the Offer should note that only a duly completed Acceptance Form, with the statement of a CSCS account held by the Qualifying Shareholder attached to it, will be a valid Acceptance of the Offer if it is sent to the Registrars on or before the Offer Closure Time. Ignite Investments shall not be under any duty to give notification of any defect or irregularity in any acceptance or the procedures for the acceptance of the Take-Over Offer nor will it incur any liability for failure to give such notification. Ignite Investments will not be bound by the Acceptance Forms received by the Registrars after the Offer Closure Time. Settlement Qualifying Shareholders who wish to accept the Offer must provide their active, complete and accurate bank account details on their Acceptance Form as payments for the accepted Forte Oil shares would be made by direct electronic transfer to the bank accounts of the respective Qualifying Shareholders. Qualifying Shareholders who accept the Offer, will not be required to pay brokerage fees or commissions to Ignite Investments or the Registrars. However, Qualifying Shareholders are cautioned to consult with their own brokers or other intermediaries to determine whether any fees or commissions are payable to their brokers or other intermediaries in connection with a deposit of Forte Oil shares pursuant to the Offer. In the event that the Offer is over-subscribed, and acceptances are scaled back in accordance with Clause 5.8 on page 13, Qualifying Shareholders should note that this may have timing implications and the settlement period may be subject to change or adjustment by the SEC. Taxation The taxation consequences of the Take-Over Offer will depend on the jurisdiction in which the Qualifying Shareholders are resident for tax purposes. Under current Nigerian tax legislation, participation in the Take-Over Offer should not give rise to any chargeable capital gains tax. However, this statement is not intended to be, and should not be construed to be, legal or tax advice to any particular shareholder. Qualifying Shareholders who are in doubt about their taxation position, or who are subject to taxation in a jurisdiction outside Nigeria, are strongly advised to consult their own professional advisers without delay as to the consequences of the Take-Over Offer in view of their own circumstances. Plans for Employees The Take-Over Offer is not expected to result in any changes to the terms and conditions of employment of the employees of Forte Oil. Where any employee does not wish to continue in the employment of Forte Oil after the Take-Over Offer has been concluded, such employee will be entitled to obtain the full terminal benefits due under his / her existing contract of service. Deceased Shareholders If any Qualifying Shareholder is deceased and his / her Ordinary Shares is in certificated form, the administrators of the estate / executors of the deceased’s may accept the Take-Over Offer by dematerialising such shares via their stockbroker in order to participate in the Take-Over Offer. The Acceptance Form duly signed and completed, with copies of the death certificate and a valid letter of Administration and any other document that Ignite Investments may require, should be submitted on or before the Offer Closure Time. Foreign Jurisdictions The Take-Over Offer is being made in Nigeria in accordance with Part XII of the ISA. Non-resident Qualifying Shareholders are advised that the legality of making the Take-Over Offer to persons resident outside Nigeria may be affected by the laws of the jurisdiction in which they reside. Non-resident Qualifying Shareholders are therefore required to inform themselves about any applicable legal requirements they are obliged to observe in their countries of residence, as the Take-Over Offer is not being made either directly or indirectly to any shareholder who is resident in a jurisdiction where it is illegal for the Take-Over Offer to be made or accepted or in which the Take-Over Offer would in any manner breach the requirements of such jurisdiction. Further Information Your attention is drawn to the copy of the Board Resolution of Ignite Investments approving the Take-Over Offer, contained on page 20, and which forms part of this document. Ignite Investments confirms its acquisition of the Offer Shares will not result in any variation in the total emoluments receivable by its directors. |
Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 5:25pm On Aug 28, 2019 |
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Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 5:27pm On Aug 28, 2019 |
Oga Aremso, the link to that document is here already, no need for this long epistle again. No vex o. |
Re: Nigerian Stock Exchange Market Pick Alerts by currentprice: 5:33pm On Aug 28, 2019 |
very soon those pple will go on the floor to continue mopping any available fo. if they can paid N66 to buy more . they will buy much more at less tha N20 on the floor. i expect FO to turn to permanent bid soon hmmm they saw FO fairprice as 66 i saw it before now as 39 for half year so full year with similar performance will give us almost same fairprice chai! my bedsheet sees well ![]() ![]() ![]() ![]() |
Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 5:38pm On Aug 28, 2019 |
Mcy56: OK ma |
Re: Nigerian Stock Exchange Market Pick Alerts by Heishere: 5:47pm On Aug 28, 2019 |
currentprice: Baba abeg how is fair price of a stock calculated? |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 7:15pm On Aug 28, 2019 |
Heishere: You want to do complex calculations for wetin? Arrange your boys to bring this guy to you... ![]() 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by maishai: 7:29pm On Aug 28, 2019 |
currentprice: I believe management is trying to compensate an aggrieved fellow...... Let's not forget that otedola transfered some kinda warehoused shares @ #300 to this new management..... Maybe the deal to compensate this aggrieved fellow might be like we bought from otedola @ #66 , ok we will compensate you with #62 for 500,000 unit so that u just stop using ur own to disturb our own...... ..... ...... ......... Caveat: this is my gut analysis o! 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 7:49pm On Aug 28, 2019 |
currentprice: https://trwstockbrokers./2019/08/28/bullish-divergence-of-forte-oil/ |
Re: Nigerian Stock Exchange Market Pick Alerts by currentprice: 8:04pm On Aug 28, 2019 |
DeRuggedProf: good one, the bullish divergence chart is very clear both TA and FA already agree, waiting... for sentiment to join 4 FO to fly ![]() ![]()
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Re: Nigerian Stock Exchange Market Pick Alerts by dipoolowoo: 9:36pm On Aug 28, 2019 |
MTN Nigeria to Launch Momo Mobile Bank https://businesspost.ng/2019/08/28/mtn-nigeria-to-launch-momo-mobile-bank/ Arise Completes Acquisition of 14.1% Stake in Ecobank https://businesspost.ng/2019/08/28/arise-completes-acquisition-of-14-1-stake-in-ecobank/ |
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