Sterling Bank (action plan announcement) - Page 30

olusolakemmy · #**581** (**permalink**) 21st November 2008, 10:41 PM

hey people,

i just want to inform you all that i met with AELEX LAW FIRM today and we had a favourable discussion.

they are convinced we have a good case, the only condition to this is that if we cant get good number of affected shareholders that are interested in the class action, it could affect us in a way.

Now, we are inviting people to please continue to send in their detail as follow, real name, name used on smn, shares of sterling held before and after reconstruction.

other groups are also involve, the firm is trying to merge us since we all have the same interest.

the motion has started by the virtue of the meeting, am counting on you all to make it happen

thanks

prince dagbolu · #**582** (**permalink**) 3rd December 2008, 02:07 AM

Quote:

Originally Posted by olusolakemmy

hey people,

i just want to inform you all that i met with AELEX LAW FIRM today and we had a favourable discussion.

they are convinced we have a good case, the only condition to this is that if we cant get good number of affected shareholders that are interested in the class action, it could affect us in a way.

Now, we are inviting people to please continue to send in their detail as follow, real name, name used on smn, shares of sterling held before and after reconstruction.

other groups are also involve, the firm is trying to merge us since we all have the same interest.

the motion has started by the virtue of the meeting, am counting on you all to make it happen

thanks

What do we have to do to make it happen Sola?

olusolakemmy · #**583** (**permalink**) 3rd December 2008, 09:27 AM

Quote:

Originally Posted by prince dagbolu

What do we have to do to make it happen Sola?

hi my prince,

how are you doing? sure great
at the moment we need someone to continue representing SMN at the AELEX cordination towards the class action.

am not in town right now, am not far from where you reside! so thats why we need someone to carry on smn representation, we have mail some senior members and we hope we can someoe willing to take up the role, the person shld be residing in lagos.

am still keeping in touch with the law firm and i hope that by the time our attention is needed, we will have someone to go for us

knightofdelta · #**584** (**permalink**) 5th December 2008, 08:09 PM

Dear All,

I am wondering where all the Lagosians are. I hope they have not been swallowed by the bulls on Marina and Broad Street. None of the Forum Moderators are based in Lagos and none of the senior members I have contacted are in Lagos.

I hereby appeal to any member in the house, senior member, member or junior member, of you are in Lagos and willing to help coordinate the class action against Sterling bank, please get in touch with any of the forum moderators through a private message.

You will not be expected to do much, just to represent SMN at the AELEX Law Firm when the time comes and if we have to show up in court, I will get myself down to Lagos to personally represent the interest of SMN. All we need right now is someone who is based in Lagos that can help out keep in touch with the law firm.

Thank you all.

prince dagbolu · #**585** (**permalink**) 6th December 2008, 12:14 AM

Quote:

Originally Posted by olusolakemmy

hi my prince,

how are you doing? sure great
at the moment we need someone to continue representing SMN at the AELEX cordination towards the class action.

am not in town right now, am not far from where you reside! so thats why we need someone to carry on smn representation, we have mail some senior members and we hope we can someoe willing to take up the role, the person shld be residing in lagos.

am still keeping in touch with the law firm and i hope that by the time our attention is needed, we will have someone to go for us

Sola my brother, wherever you are, enjoy the whether. You deserve a break from the stress of Lagos.

olusolakemmy · #**586** (**permalink**) 6th December 2008, 02:39 PM

Quote:

Originally Posted by prince dagbolu

Sola my brother, wherever you are, enjoy the whether. You deserve a break from the stress of Lagos.

thanks my prince,
the whether is not so friendly, make someone dress like some guy from ESKIMO! well, nothing new, we are coping.

the fact is am still keen on the SB issue and i pray we get a rep soon to continue the thing

prince dagbolu · #**587** (**permalink**) 10th December 2008, 05:24 PM

Quote:

Originally Posted by olusolakemmy

thanks my prince,
the whether is not so friendly, make someone dress like some guy from ESKIMO! well, nothing new, we are coping.

the fact is am still keen on the SB issue and i pray we get a rep soon to continue the thing

I pray we get a good reliable rep too.

By the way, when will Sterling Bank release their results. Things are so bad for this stock now that it was selling under N3 naira today.

olusolakemmy · #**588** (**permalink**) 10th December 2008, 08:21 PM

Quote:

Originally Posted by prince dagbolu

I pray we get a good reliable rep too.

By the way, when will Sterling Bank release their results. Things are so bad for this stock now that it was selling under N3 naira today.

dont have an idea when they will release the result.

its not only SB, no company on NSE is immune.

Michael · #**589** (**permalink**) 10th December 2008, 11:47 PM

Quote:

Originally Posted by olusolakemmy

dont have an idea when they will release the result.

its not only SB, no company on NSE is immune.

Price today = 2.69, 12 mth eps = 25 kobo, projected eps = 49 kobo and projected dividend 25 kobo, Price to Book 1.27, Projected Price to book 1.15.

To beat inflation the price needs to fall by N1.02

this will create a div yield of 15% before tax!

Make I practice small analysis make I no forget am. After all the bears no dey allow analysis dey work at all!

knightofdelta · #**590** (**permalink**) 11th December 2008, 05:54 PM

Quote:

Originally Posted by Michael

Price today = 2.69, 12 mth eps = 25 kobo, projected eps = 49 kobo and projected dividend 25 kobo, Price to Book 1.27, Projected Price to book 1.15.

To beat inflation the price needs to fall by N1.02

this will create a div yield of 15% before tax!

Make I practice small analysis make I no forget am. After all the bears no dey allow analysis dey work at all!

You still dey analyze SB? I have put it on my restricted list. It is a no go zone...

Michael · #**591** (**permalink**) 11th December 2008, 09:24 PM

Quote:

Originally Posted by knightofdelta

You still dey analyze SB? I have put it on my restricted list. It is a no go zone...

Nothing should be on a restricted list if it cheap enough. SB no work sha!

olusolakemmy · #**592** (**permalink**) 15th December 2008, 01:24 AM

Quote:

Originally Posted by knightofdelta

You still dey analyze SB? I have put it on my restricted list. It is a no go zone...

my brother, why did u sentence SB to isolated jungle in your portfolio?

is it because of your slashed shares?
or because the prices is about to disappear?

knightofdelta · #**593** (**permalink**) 15th December 2008, 07:13 AM

Quote:

Originally Posted by olusolakemmy

my brother, why did u sentence SB to isolated jungle in your portfolio?

is it because of your slashed shares?
or because the prices is about to disappear?

The memory is too painful...

olusolakemmy · #**594** (**permalink**) 15th December 2008, 09:36 AM

Quote:

Originally Posted by knightofdelta

The memory is too painful...

hmmmmmmm i can understand particukarky now that it looks very likely that SB will go away with it.

i pray that GOD return all our stolen belongings including our SB slashed shares!!!!!!!

prince dagbolu · #**595** (**permalink**) 16th December 2008, 11:52 PM

Micheal, the information reaching me as well about Sterling Bank will not encourage me to buy more of their shares. I am just praying and hoping that that the information is wrong. Anyway time will tell. I have decided to keep my Sterling Bank shares and see what happens. I am in it for the long term. I expect them to be taken over within five years.