Intercontinental Bank

[DaInvestor]

Good Day Guys
Does anybody know what these intercontinental bank guys are up to. HAs anybody seen or collected the certs. for their public offer. last i heard the certs were meant to have be distributed early August. I think its a prob with the people generally ( i want to assume its the registrers that are being funny) same with my wapic i ve not been able 2 verify it since June that my broker sent it to the registrers.

[opeh]

they have started posting certificates. My cousin has gotten his certificate...

[DaInvestor]

Thanks for the info m8. i really appreciate it

[maasiru]

I am yet to get mine too. I think the registrars are the problem.

[sega]

Well,i don't know what is wrong with Intercont.Am also yet to get my Cert.but i have gotten a dividend warrant from them.
Why this?

[DaInvestor]

got my dividend too still no cert, this really sucks its close to a year now and allotments have been done since july still no certs, wonder how long it will take to verify them when they eventually come, some of these guys take these things too far and i think its a regular habit with the intercontinental group cos wapic was also the same still cant get 2 verify that one, its been three months since my broker sent it to the registrers. anyone with idea on how to deal with this prob????

[c kenneths]

@ DaInvestor, I don't think there is any thing youcan do but calm down and wait.

Someone once told me its possible to do some 'inside waka' for the cert to be held down and not sent to the post alongside others, so you can collect it from the registrars.

Still I would not say the it will work, yet nothing is impossible in naija.

[Yusuf]

Originally Posted by DaInvestor

got my dividend too still no cert, this really sucks its close to a year now and allotments have been done since july still no certs, wonder how long it will take to verify them when they eventually come, some of these guys take these things too far and i think its a regular habit with the intercontinental group cos wapic was also the same still cant get 2 verify that one, its been three months since my broker sent it to the registrers. anyone with idea on how to deal with this prob????

I actually got mine last week of August (3 weeks ago) got my friends cert. last week and waiting for the second friend who happened to have gotten a dividend warrant before all of us. No cause for alerm as everything is under control.
If you are yet to get either your certificate or dividend warrant, wait as there is still time.
I believe if this delay stuff is not corrected on time, Banks seeking to raise fresh fund from primary market are in for serious work.

Lets wait and see. I will keep you posted.

[dj4wealth]

CBN verification wahala

[nichobabe81]

I think it is the registrars, don't forget that intercon has changed registrar from Wama registrar to their own. I was in their office recently and the place no be am. The guy said it was a temporary office sha. They have a lot of issues they are trying to sort out.

The Certificate go come. But like the other writer said, PO in Naija will no longer look attractive.

[Apache]

Please can anyone confirm if they have been able to verify their WAPIC certificates? i.e. besides DaInvestor

[Ahaah]

You guys are lucky to have received your WAPIC certificate. I am yet to set eyes on mine. Maybe they are holding mine back because of the volume. One is so helpless because there is no regulatory authority to go to for remedy. So sad.

[nichobabe81]

Originally Posted by Ahaah

You guys are lucky to have received your WAPIC certificate. I am yet to set eyes on mine. Maybe they are holding mine back because of the volume. One is so helpless because there is no regulatory authority to go to for remedy. So sad.

Have you call the registrars to see if you they have yours, maybe becos of the volume like you said. They don't normally post high volume but will send a letter for you to come and collect at their office.

[Yusuf]

This was sent to me yesterday and decide to share it will all of us. This is good news.

Investors Alert


In a bid to improve the efficiency of the Nigerian Capital Market, the regulatory authorities - The Nigerian Securities & Exchange Commission and The Nigerian Stock Exchange; held a meeting with stakeholders (Issuing Houses and Stockbroking Firms) in the market today and the following decisions were AGREED UPON:

1. Henceforth, all public offers would be alloted via electronic means into Investors' CSCS account, this presupposes that before investors apply for public offers they are expected to have brokerage account with a stockbroking firm.

2. Certificates would ONLY be issued if investors fail to supply their CSCS account details on the application form.

3. Central Bank of Nigeria will no longer have to go through the verification process before allotment of the shares as was the case in previous offerings. This has been a bottle neck in allotments for previous public offers because of the beureaucracy involved. However, if there is any need to verify or investigate any application this would be done after the shares has been alloted.

The above decisions have thus been taken to strengthen investors confidence in the market.

For us at Proshare, we have once again been vindicated in our stand on the subject and are very happy that the market has taken action.

Readers would have noticed that in the last two weeks, we have devoted considerable time and attention to the subject of investors confidence and indeed published an article today on the subject titled: INVESTOR RELATIONS: TIME FOR A NEW APPROACH (Personal Finance News and Analysis, Features, and Tools)

This shows that the Nigerian capital market is quite responsive and gives investor issues the priority it deserves. Kudos to NSE, SEC and the Industry Players.


Copyright 2007 Proshare Limited. All Rights Reserved

[Ahaah]

Nichobabe81, thanks a lot. I have not received any letter from them but I will pay their registrars a visit next week.