currentprice:
fx is easy less stressful if u take it as business.

if u place trade and stay infront of computer monitoring movement. thatz mean something is wrong. is either u took unnecessary risk or u do not know what your are doing.

forex is not what one can master within short period of time. we long timer self still learn new things on every trade.

Baba e no be as u talk am o. I no dey fit blink except I no go full blast.

Mcy56:

You have time to reply him self.
He's the same guy, valentinenwoko that's been asking same question on UACN and few others since time immemorial, now he still said he missed the same UACN at 4.50 and DS is expensive at 8.
Let him keep waiting at 2naira self, na him get his waiting.

Uacn is coming back to N4, zenith N12, Gtb N19 or no be so somebody talk am

HOUSE UACN OR FLOURMILL , which is better to go for at current price ,

onegentleguy:


Bro, u have probably taken too much 33.
...Pls just wait when it clears from ur eyes, u do the calculation again.
There's no way OS will be near the figure u've put out now.

onegentleguy:


How?

The proposed right issue will effect an increase from the current 10B to 18B units of OS(an 8B units addition)
Which implies 16B units of 50k each.[16x0.5= 8]

According to the notice;

“That the authorized share capital of the company be and is hereby increased from N10 billion to N18 billion by the creation of 16 billion ordinary shares of N0.50 Kobo each, ranking pari passu in all respects with the existing ordinary shares of the company, and that the capital clause of the Memorandum and Articles of Association of the company, be altered accordingly."

Pls kindly point me to the contradiction.

Have u taken an overdose of 33? ...today is Thursday, not Friday oo.

OGG, from the text you quoted, Agba's numbers are correct. If they got approval to increase the authorized share capital to #18b, it technically means they can issue up to 36b units of shares at a nominal value of 50k.
So, if they increased authorized share capital from 10b to 18b, they simply created room to be able to issue an additional 16b units.

Abeg, help us factor the new numbers into your calculations make we know whether na forward we dey go abi na dismiss.

Edit: https://nairametrics.com/2019/09/12/aiico-insurance-to-increase-share-capital-by-80/

Excerpts from the link: In a statement that outlines the EGM’s agenda, the company made known that “the share capital will be raised by the creation of 16 billion ordinary shares of 50 kobo each, ranking pari passu in all respects with the existing ordinary shares of the Company, and the capital clause of the Memorandum and Articles of Association of the Company, will be altered accordingly.”

eziokwunwoko:
IS THERE A POSSIBILITY THAT UACN WILL DO A RIGHT ISSUE TO SUPPORT UPDC RIGHT ISSUE.IF THEN OS WILL INCREASE.
I MISSED THE OPPORUNITY TO BUY @ 4.5. I AM CONFUSED.
PLS WILL DANGOTE SUGAR FALL TO N6.00 because N8.O0 PLUS IS EXPENSIVE
CAVERTON ; what is the ideal price to buy, can they pay 40k dividend

Chai, even the JAMB wey I write in 87 easy pass these ones.

chillykelly86:




OGG, from the text you quoted, Agba's numbers are correct. If they got approval to increase the authorized share capital to #18b, it technically means they can issue up to 36b units of shares at a nominal value of 50k.
So, if they increased authorized share capital from 10b to 18b, they simply created room to be able to issue an additional 16b units.

Abeg, help us factor the new numbers into your calculations make we know whether na forward we dey go abi na dismiss.

Edit: https://nairametrics.com/2019/09/12/aiico-insurance-to-increase-share-capital-by-80/

Excerpts from the link: In a statement that outlines the EGM’s agenda, the company made known that “the share capital will be raised by the creation of 16 billion ordinary shares of 50 kobo each, ranking pari passu in all respects with the existing ordinary shares of the Company, and the capital clause of the Memorandum and Articles of Association of the Company, will be altered accordingly.”

No my dear.

If they get an approval to increase their share capital to 18B (from initially 10B) which is an 8B unit addition, then it technically means they can issue up to 16B shares at a nominal value of 50k. ...and not the 36B units u mentioned.

U already highlighted it from the excerpts in the notice.

On ur question, AIICO remains a asset with a grossly underpriced stance, and a high UPR.
...this is discounting for risk(including the impact from a possible dilution with the rights issue)
I already stated my position on the coy before now.

But then again, anyone is free to sell off their holding if they so desire.

CAVEAT: NOT an investment recommendation.

OGG don drink tksepe plus alomo bitter.
Na 36B shares dey stare you in the face so, don't live in denial

chillykelly86:




OGG, from the text you quoted, Agba's numbers are correct. If they got approval to increase the authorized share capital to #18b, it technically means they can issue up to 36b units of shares at a nominal value of 50k.
So, if they increased authorized share capital from 10b to 18b, they simply created room to be able to issue an additional 16b units.

Abeg, help us factor the new numbers into your calculations make we know whether na forward we dey go abi na dismiss.

Edit: https://nairametrics.com/2019/09/12/aiico-insurance-to-increase-share-capital-by-80/

Excerpts from the link: In a statement that outlines the EGM’s agenda, the company made known that “the share capital will be raised by the creation of 16 billion ordinary shares of 50 kobo each, ranking pari passu in all respects with the existing ordinary shares of the Company, and the capital clause of the Memorandum and Articles of Association of the Company, will be altered accordingly.”

One possibility people are not considering is that aiico might want to increase the authorized share capital to be able to issue bonus shares. Aiico is on course to have excess of N18 billion as capital by year end which meets the new capital requirement of NAICOM. Unless the company sees significantly expanded business opportunity ahead, the company does not need additional capital.

@Agba I know u are interested in AIICO.

But don't worry, It will be relatively available tomorrow.

Dupeodus:


One possibility people are not considering is that aiico might want to increase the authorized share capital to be able to issue bonus shares. Aiico is on course to have excess of N18 billion as capital by year end which meets the new capital requirement of NAICOM. Unless the company sees significantly expanded business opportunity ahead, the company does not need additional capital.

I agree with u my dear.

It is well.

locodemy:


Following the recapitalization in the insurance sector,I don't think it's a bad idea to add 8 billion units to their outstanding shares.Some of the insurance stocks are like 20 billion Os and more.

Although I don't have the stock,I see the price reaching 1.20 very soon.For me,I like to sight the money and follow it,once I get the money,I quickly jaaaa......WETIN CONCERN YOU FOR LARGE OS SELF WHEN YOU CAN MAKE UR DOW?

Bros, its not 8billion units, its 16billion units. See excerpts:
"In a statement that outlines the EGM’s agenda, the company made known that “the share capital will be raised by the creation of 16 billion ordinary shares of 50 kobo each, ranking pari passu in all respects with the existing ordinary shares of the Company, and the capital clause of the Memorandum and Articles of Association of the Company, will be altered accordingly.”

Witches:
HOUSE UACN OR FLOURMILL , which is better to go for at current price ,

OGG Kindly look into this .

Mpeace:
Bros, its not 8billion units, its 16billion units. See excerpts:
"In a statement that outlines the EGM’s agenda, the company made known that “the share capital will be raised by the creation of 16 billion ordinary shares of 50 kobo each, ranking pari passu in all respects with the existing ordinary shares of the Company, and the capital clause of the Memorandum and Articles of Association of the Company, will be altered accordingly.”

Dem clearly talk the number of shares they will be ADDING
OGG still dey hangover

Mpeace:
Bros, its not 8billion units, its 16billion units. See excerpts:
"In a statement that outlines the EGM’s agenda, the company made known that “the share capital will be raised by the creation of 16 billion ordinary shares of 50 kobo each, ranking pari passu in all respects with the existing ordinary shares of the Company, and the capital clause of the Memorandum and Articles of Association of the Company, will be altered accordingly.”

We need more clarifications on this.It is somehow contradictory now.

locodemy:


We need more clarifications on this.It is somehow contradictory now.

It is not contradictory, it is very clear
Final authorised capital = N18 which is 36B ordinary shares of 50kobo each

http://www.nse.com.ng/dealing-members-site/Notices/NPF%20Microfinance%20Bank%20Rights%20Issue.pdf
Police is in need of your funds. 1 for 1 at N1.50

locodemy:


We need more clarifications on this.It is somehow contradictory now.

Where is the contradiction?

You need to understand the difference between issued shares and share capital.

As clear as daylight
The matter is str8 forward. (O kwu oto ka utu)

Dupeodus:


This is false reporting. What is contained in the egm resolution is an increase in the authorized share capital. Not an increase in the issued share capital itself that will raise funds. I know aiico's management is playing with it's minority shareholders. They did an egm about a year ago where they got an approval to increase both the authorized and issued share capital to raise N5 billion. I do not know the current status of that. In the last agm, they also got an approval to enter into a technical agreement with an entity that does not even have a web presence. Now they are asking for another approval to enter an agreement with an unnamed entity. When I first started to look at aiico critically around 2017, I suspected that something was off in their treatment of certain foreign assets that they have. I did not have the time to do a thorough analysis. About a month ago, I had the time to trace the movements on the foreign assets on their financials from 2014 to 2018. I was convinced that in 2017, over $7 million of the assets were sold and converted to naira at a rate that is a significant discount to the prevailing exchange rate causing them to write off about N500 million in foreign exchange reserve. This is outright theft. I still do not have time yet to petition the SEC with this. This time, there will also be a petition to efcc.

I take the first sentence on this post back. I missed the first item on the notice of the egm that requested for the approval of the investment of leapfrog. It is another way by which aiico treats it's existing shareholders with contempt and I wonder about the people that go to these meetings and approve rubbish like this. The request did not say the level of investment of the investors, how many shares were issued and at what price. Maybe this will follow the terms approved in the last egm done about a year ago. I wonder who leapfrog is.

rebekah2011:
http://www.nse.com.ng/dealing-members-site/Notices/NPF%20Microfinance%20Bank%20Rights%20Issue.pdf
Police is in need of your funds. 1 for 1 at N1.50

They have arranged this one for themselves quietly.
Qualification date has passed - yesterday 12th Sept.

When you see rights issue that is not skewed towards scamming unsuspecting shareholders you will know.
Caveat: I hold none of this stock though.

To the fellow asking me which is better btw UACN and FLOURMILL @ current mkt prices, here's my take;
Both coys are good.(underpriced with a great MoS behind their price)

Here is what I'll do if I were to invest in them;

I'll put my funds in them @ a 70-30% or 60-40% weighting for UACN and FMN in that order.
I believe there's a bit more UPR with the former than the latter. ...particularly in the short term.
However, both coys are great picks @ current prices, in the mid to long term.

DISCLOSURE: onegentleguy holds just 2 afolabi units each in both coys.
CAVEAT: NOT an investment recommendation.
My advise: Just follow ur instinct.

Dupeodus:


I take the first sentence on this post back. I missed the first item on the notice of the egm that requested for the approval of the investment of leapfrog. It is another way by which aiico treats it's existing shareholders with contempt and I wonder about the people that go to these meetings and approve rubbish like this. The request did not say the level of investment of the investors, how many shares were issued and at what price. Maybe this will follow the terms approved in the last egm done about a year ago. I wonder who leapfrog is.

The whole idea and ploy is to make u give up on ur stake in AIICO @ a cheap, so they'll mop it up.
But we will not fall for it !!
We shall continue to accumulate in trenches when price drops to our comfort zones.
No matter how long it takes, we shall follow the money(inherent VALUE).
...and find it, we shall !!

Salah.

@dupeodus,you are indeed an AIICO faithful.
You are so loyal and committed physically, spiritually and financially to AIICO. It appears, nothing can separate you from AIICO.
I just wish they can make you their brand ambassador.
Pele, make dem no give you hypertension oooo.
I believe the inherent value in dz promising giant will see the light of prosperity once a good management is in place. However, I doubt if the present grp of Oando like executives at the helm would ever delivered. The way they are manipulating AIICO is 2nd to OANDO.

Transcorp Power Rangers don arrive

dem don dey mop zenith

EKUU market

Awon waiting..... Ekuu waiting!!

Awon School fees..... Ekuu School fees

Awon averaging up.... Ekuu averaging up!

RabbiDoracle:
Awon waiting..... Ekuu waiting!!

Eshe o
We still waiting

Agbalowomeri:


Eshe o
We still waiting

By the time you join in November or December, just be careful. Always look well before you enter.

RabbiDoracle:


By the time you join in November or December, just be careful. Always look well before you enter.

Lol na so 2 year old bear go just erase like that?
We don tey for this market no be today. It is still not a bull, na pull back

LASACO to Raise N11bn for Recapitalization, Others
https://businesspost.ng/2019/09/13/lasaco-to-raise-n11bn-for-recapitalization-others/

Nigerian Stocks Extend Gains by N141bn as ASI Rises 1.01%
https://businesspost.ng/2019/09/13/nigerian-stocks-extend-gains-by-n141bn-as-asi-rises-1-01/

Investors at NASD OTC Market Lose N2.17bn Thursday
https://businesspost.ng/2019/09/13/investors-at-nasd-otc-market-lose-n2-17bn-thursday/