International Breweries PO

[dimeji_777]

Originally Posted by ibro2324

I'm writing to inform you about the problem i have with UBA Registrars Ltd.Lagos in getting refund money in connection
with unallotted shares of International Breweries PLs Public offer which close last year.I subscribed for 900,000 units in the offer.It is surprising
that up till present,i have not received my cheque for the returned money.

After a very long time of non receipt of this cheque,i had to ask someone to help me to go to UBA Registrars Ltd,Lagos to find out what is happening.
They told the person that the cheque has been collected by someone.I did not receiev any cheque,I asked them to show me the proof of when the cheque was registered and the name of
the person that collected it.They told the person i sent that it was sent by ordinary post and that they have no proof of sending it.This is against what
was written on the prospectus in which they said the returned money will be sent by registered post.I asked them to re-issue me another cheque if they
do not want trouble and also to get to the bottom of the matter and find out the culprit who claimed the cheque and let him be prosecuted.

I live in United States.The image of nigeria is not good abroad and things like this don't help matter at all.If something like this can happen to a Nigerian,
i wonder what will happen to a foreign investor whom we have been urging to come and invest in Nigeria.

I urged them to get to the bottom of this problem and punish anyone who claimed the cheque and even if another cheque is given to me,i think it will be beneficial for all of us to see that the culprit gets punished.Many nigerian foreign investors have been burnt by Nigerian stock market investments and many people i know already vowed never to invest in Nigerian stock market again.

I do not understand how they send cheque of almost 800,000 naira without registring it.I know they are bunch of liars and all efforts to get them re-issue
this cheque has proved abortive.I do not think this is a good development for Nigeria when people are robbed of their hard earned money but i know they
did not issue this returned cheque as they just lied.

I need advise from the investment community for the next step to take and i hope it also serves as a lesson for potential investors in Nigeria market.That is why the market is not moving up again because they lost the confidence of many big investors and many are pulling out their money and hence the depression in the market.Why can't we remain transparent
and make our country prosperous and a safe heaven for investments.

I strongly suggest posts like this to be published in pages of Nigerian dailies.Ibro 2324, my advice to you is to mount pressure on them and get someone to keep sitting on their neck. Visit the sites of NSE, SEC and CBN to establish the appropriate persons to report the matter to and get UBA Registrars aware of your action. I am sure your money shall come out.

[Babs_O]

Originally Posted by ibro2324

I'm writing to inform you about the problem i have with UBA Registrars Ltd.Lagos in getting refund money in connection
with unallotted shares of International Breweries PLs Public offer which close last year.I subscribed for 900,000 units in the offer.It is surprising
that up till present,i have not received my cheque for the returned money.

After a very long time of non receipt of this cheque,i had to ask someone to help me to go to UBA Registrars Ltd,Lagos to find out what is happening.
They told the person that the cheque has been collected by someone.I did not receiev any cheque,I asked them to show me the proof of when the cheque was registered and the name of
the person that collected it.They told the person i sent that it was sent by ordinary post and that they have no proof of sending it.This is against what
was written on the prospectus in which they said the returned money will be sent by registered post.I asked them to re-issue me another cheque if they
do not want trouble and also to get to the bottom of the matter and find out the culprit who claimed the cheque and let him be prosecuted.

I live in United States.The image of nigeria is not good abroad and things like this don't help matter at all.If something like this can happen to a Nigerian,
i wonder what will happen to a foreign investor whom we have been urging to come and invest in Nigeria.

I urged them to get to the bottom of this problem and punish anyone who claimed the cheque and even if another cheque is given to me,i think it will be beneficial for all of us to see that the culprit gets punished.Many nigerian foreign investors have been burnt by Nigerian stock market investments and many people i know already vowed never to invest in Nigerian stock market again.

I do not understand how they send cheque of almost 800,000 naira without registring it.I know they are bunch of liars and all efforts to get them re-issue
this cheque has proved abortive.I do not think this is a good development for Nigeria when people are robbed of their hard earned money but i know they
did not issue this returned cheque as they just lied.

I need advise from the investment community for the next step to take and i hope it also serves as a lesson for potential investors in Nigeria market.That is why the market is not moving up again because they lost the confidence of many big investors and many are pulling out their money and hence the depression in the market.Why can't we remain transparent
and make our country prosperous and a safe heaven for investments.

This is scary. I have always wondered if it is not possible for someone else to claim another persons returned money. I hope you do not share names with any family member. This case can make people wary of further participation in PO's till processes can be audited.

However my IB was credited on-line (plus also got the certificate sent via my broker Will take the certificate as void. Hope not too many of them are around). I got my returned money check mailed to my Lagos PO Box several months ago.

[Apache]

Originally Posted by ibro2324

I'm writing to inform you about the problem i have with UBA Registrars Ltd.Lagos in getting refund money in connection
with unallotted shares of International Breweries PLs Public offer which close last year.I subscribed for 900,000 units in the offer.It is surprising
that up till present,i have not received my cheque for the returned money.

After a very long time of non receipt of this cheque,i had to ask someone to help me to go to UBA Registrars Ltd,Lagos to find out what is happening.
They told the person that the cheque has been collected by someone.I did not receiev any cheque,I asked them to show me the proof of when the cheque was registered and the name of
the person that collected it.They told the person i sent that it was sent by ordinary post and that they have no proof of sending it.This is against what
was written on the prospectus in which they said the returned money will be sent by registered post.I asked them to re-issue me another cheque if they
do not want trouble and also to get to the bottom of the matter and find out the culprit who claimed the cheque and let him be prosecuted.

I live in United States.The image of nigeria is not good abroad and things like this don't help matter at all.If something like this can happen to a Nigerian,
i wonder what will happen to a foreign investor whom we have been urging to come and invest in Nigeria.

I urged them to get to the bottom of this problem and punish anyone who claimed the cheque and even if another cheque is given to me,i think it will be beneficial for all of us to see that the culprit gets punished.Many nigerian foreign investors have been burnt by Nigerian stock market investments and many people i know already vowed never to invest in Nigerian stock market again.

I do not understand how they send cheque of almost 800,000 naira without registring it.I know they are bunch of liars and all efforts to get them re-issue
this cheque has proved abortive.I do not think this is a good development for Nigeria when people are robbed of their hard earned money but i know they
did not issue this returned cheque as they just lied.

I need advise from the investment community for the next step to take and i hope it also serves as a lesson for potential investors in Nigeria market.That is why the market is not moving up again because they lost the confidence of many big investors and many are pulling out their money and hence the depression in the market.Why can't we remain transparent
and make our country prosperous and a safe heaven for investments.

I have this feeling that someone is lying to you at UBA registrars because my return monies which was a meagre N80k was hand delivered to my house by one of these courier service companies and i signed for it.
can someone provide the email address or phone number of the MD of UBA registrars cos this has to be handled from the top level.
If this does not work, then a letter has to be written to SEC

[dimeji_777]

UBA Registrar's MD is Peter O Ashade,3rd & 4th Floor Raymond House,97/105 Broad Street, P O Box 6492 Lagos. Try pashade@ubaregistrars.com or p_ashade@ubaregistrars.com , I am not quite sure which, but it must be one of them.

[Apache]

Originally Posted by dimeji_777

UBA Registrar's MD is Peter O Ashade,3rd & 4th Floor Raymond House,97/105 Broad Street, P O Box 6492 Lagos. Try pashade@ubaregistrars.com or p_ashade@ubaregistrars.com , I am not quite sure which, but it must be one of them.

Thanks a million dimeji.

@ Ibro
What I suggets is that you send a mail to the addresses provided above stating the issues in detail. Also include scanned documents where available. Do this in such a way that if the guy decides to help, he has every necessary information to pursue this.
Let's see how it goes. His response (or non response) to this will determine your next move.

[ibro2324]

i appreciate all your contributions.You are all very knowledgable people and we are here to help each other.I appreciate all your precious advise.I spoke to one of the UBA registrars managers in April. His name is Mr Osabiyi.He insisted they sent the cheque
but he has no track record of wether this check was registered or not.He said their policy is to only issue a single cheque in 6 months and under no
condition will another cheque be issued in less than 6 months.It was after a hot conversation between this man and my ESL securities brokers that they
revealed to them that someone already collected this cheque.I wrote a letter to the Security and Exchange Commission(SEC) and my ESL brokers hand delivered the letter to SEC and one
of the SEC officials signed for this letter.That was 1st week in june and up till today,i've not heard anything from SEC regarding this issue.I appreciate all your
advise and i believe this culprit should be brought to justice as these people have a way of knowing who cashed the cheque,what name etc if it was earlier issued but
i believe this cheque was not issued out by UBA registrar as they have no track of it being registered.

[ttoladele]

Originally Posted by ibro2324

i appreciate all your contributions.You are all very knowledgable people and we are here to help each other.I appreciate all your precious advise.I spoke to one of the UBA registrars managers in April. His name is Mr Osabiyi.He insisted they sent the cheque
but he has no track record of wether this check was registered or not.He said their policy is to only issue a single cheque in 6 months and under no
condition will another cheque be issued in less than 6 months.It was after a hot conversation between this man and my ESL securities brokers that they
revealed to them that someone already collected this cheque.I wrote a letter to the Security and Exchange Commission(SEC) and my ESL brokers hand delivered the letter to SEC and one
of the SEC officials signed for this letter.That was 1st week in june and up till today,i've not heard anything from SEC regarding this issue.I appreciate all your
advise and i believe this culprit should be brought to justice as these people have a way of knowing who cashed the cheque,what name etc if it was earlier issued but
i believe this cheque was not issued out by UBA registrar as they have no track of it being registered.

Ibro, i empathise with you. It is an absolute disgrace if UBA will not sort this out.
Please ask them for the cheque number and date. I also wonder why they cannot trace the cheque to the bank account it was paid into. Perhaps you need to seriously threaten them, i am sure they don't want their image in US and Europe damaged. Why don't you write to their MD, and cc group MD, SEC, EFCC, your Solicitor ,and the media as your last resort? You need to gather all documents to support your claim.
Good luck

[Abinishio]

My People,
What is happening in IBL that is risisng daily?
In this bear HUG times, this is strange, abi benefits rumour don enter town?
Please ohh, dont eat alone ohh.

AB

[phemmie06]

is there any one with usefull in4mation on what is going on in IBplc

[phemmie06]

is there any one with usefull in4mation on what is going on in IBplc

[hispy99]

Latest Market Info
INTBREW: 2ND QUARTER ENDED JUNE 2008

INTERNATIONAL BREWERIES PLC. 2ND QUARTER ENDED 30/06/09.

TURNOVER 08 N501.0M 07 N233.38M

PBT 08 N56.53M 07 (N80.59M)

TAXATION 08 NIL 07 NIL

PAT 08 N56.53M 07 (N80.59)

[lincoln]

Hi Guys,

Please, can one tell me why this bear market is not taking a heavy toll on INT'l BREWERIES. Can i go for it? It seems somehting is about to happen, or is it a voodoo?
I need all the help i can get.

Thanks

[Apache]

Originally Posted by lincoln

Hi Guys,

Please, can one tell me why this bear market is not taking a heavy toll on INT'l BREWERIES. Can i go for it? It seems somehting is about to happen, or is it a voodoo?
I need all the help i can get.

Thanks

I don't think international breweries is a good buy as it is currently way overvalued going at today's price compared to their forward earnings.
I can't really tell why their share price has defied the hug of the deadly bears

[BLUEMONEY]

Originally Posted by lincoln

Hi Guys,

Please, can one tell me why this bear market is not taking a heavy toll on INT'l BREWERIES. Can i go for it? It seems somehting is about to happen, or is it a voodoo?
I need all the help i can get.

Thanks

Like Apache mentioned, the stock is overvalued at the current price and one reason the bear may not Affected this stock is because Foreign Core Investors are holding a large portion of the stock.

[hispy99]

Originally Posted by lincoln

Hi Guys,

Please, can one tell me why this bear market is not taking a heavy toll on INT'l BREWERIES. Can i go for it? It seems somehting is about to happen, or is it a voodoo?
I need all the help i can get.

Thanks

Even if something is about to happen, I hope you won't join the train when everyone is about to disembark.