Costain West Africa - Is it a worthy investment?

[newton]

At this rate AIICO is abt to witness an oversubscription. Guys be careful not to buy in excess so has notto hav the bulk of ur money returned ages after wt no interest (especially guys goin 2 paris club for funding)

[chidianosike]

Lol..Paris Club KE..

[Avocado]

BigJay01: thank you!

More on Costain:

Rights is 13 for 4 (i.e. 13 new shares for every 4 owned). This is quite good, especially for those who bought in on Costain ~N20 or more. The price averaging works out very fine. All Costain Offer and Rights documents are now online at Vetiva's website; see:

Costain_Full_Prospectus.pdf

Costain_Abridged_Prospectus.pdf

Costain_Rights_Circular.pdf

The time is quite short for obtaining the Rights form by post; many shareholdres will not receive these forms befroe the closure date. Interesting ideas on how to get this form are invited. Attempts have been made to contact First Registrars; lines busy. The objective is to establish remote contact with First Registrars. Details below:

Constain West Africa
174 Funso Williams Street
Formerly Western Avenue
Ebute-Metta, Lagos State
Tel: (01) 7745840, 5851190
Tel/Fax: (01) 5801879, 5852507, 5856204
Email: info@costainwa.com
Website: Costain Public Offer (there's no info about the company at this location, only info about the Offer)

Costain Life Camp
Gwarinpa District
Garcia, FCT Abuja
Tel: (09) 413 7527-29
Tel/Fax: (01) 5801879, 5852507, 5856204
Email: info@costainwa.com

Registrars to the Costain (2007) Offer
First Registrars Nigeria Limited
Plot 2, Abebe Village Road, Iganmu
P. M. B. 12692,
Lagos

Tel: 234-1-773086, 7743309, 2701078, 2701079
Fax: 234-1-2701071, 2701072
E-mail:- info@firstregistrarsnigeria.com

For further contacts, please see: First Registrars Limited| Contact
.

[Avocado]

newton: they'd better save the Paris Club funding for the MTN PP. Info @ Proshare says minimum investment for individuals in USD 5 million. Yep, US$ 5million.

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[samawosolu]

i have sent my mother to some of the banks listed as issuing houses and noe of them seem to be selling the shares i do not have a stockbroker at the moment and i want to buy the shares latest tommorrow has anybody any information on the banks that are selling any of the shares , it is urgent plase i will appreciate.

[Avocado]

Perhaps you meant you'd like to apply for shares in the public offer? Then try the receiving agents; I can tell you that there are forms available as of today at the Mobolaji Bank anthony Branch of GTBank; to be sure, you could place a call to any of the banks you may want your mum to visit first so that time wouldn't be wasted. Check page 20 of the Abridged Prospectus at http://vetiva.com/Costain_Abridged_Prospectus.pdf for a list of the Receiving Agents: Acees bank, Afribank, Diamond Bank, ECO Bank, Equitorial Trust Bank, Fidelity, First Bank, FCMB etc etc.

Or, better:

even simply: just have the form printed: page 21 of the abridged prospectus; this page printed off anywhere is as valid as any when correctly completed and submitted.
.

Then later, soon, get a stockbroker; it's not expensive.

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[samawosolu]

i will send someone to pick up the forms and also to buy the shares both for aiico and costain at the gauranty trust bank on mobolaji bank anthony way
kind regards
ma just use a stock broker in future

[samawosolu]

hello how are yoou all just to inform you that the costain offer is th most disorganised one ever i believe, some receivers claim not to eve know about it, some have forms and do not receive the completed forms , the first bank knows nothing about it in 16 branchs , Jesus is there something fishy about costain, a BANK I EVENTUALL GOT IT FROM DOS NOT RECEIVE IT SO I SUBMITTED IT IN ONE THAT DOES NOT SELL THE OFFER BUT RECEIVES MY PEOPLE IN THE 21ST CENTURY I THINK WE ARE JUST PLAYING WITH CHAOS IN THIS COUNTRY OF OURS WHAT A BOMBASTIC SHAME THIS SHOULD DISCOURAGE ANY PERSON WITH COMMONSENSE.
THERE IS ALSO A WAY THEY SAY TO PREVENT OVERSUBSCRIPTION LAST TIME I CHECKED IT WAS ILLEGAL THAT IS OU BUY N THE NAMES OF ALL MEMBERS AND FAMILY AND PHOTOCOPPY THE FORMS WITHTHE NAMES AND SIGNATURE AND KEEP M PEOPLE THIS IS RAL CHAOS

[knightofdelta]

Originally Posted by samawosolu

hello how are yoou all just to inform you that the costain offer is th most disorganised one ever i believe, some receivers claim not to eve know about it, some have forms and do not receive the completed forms , the first bank knows nothing about it in 16 branchs , Jesus is there something fishy about costain, a BANK I EVENTUALL GOT IT FROM DOS NOT RECEIVE IT SO I SUBMITTED IT IN ONE THAT DOES NOT SELL THE OFFER BUT RECEIVES MY PEOPLE IN THE 21ST CENTURY I THINK WE ARE JUST PLAYING WITH CHAOS IN THIS COUNTRY OF OURS WHAT A BOMBASTIC SHAME THIS SHOULD DISCOURAGE ANY PERSON WITH COMMONSENSE.
THERE IS ALSO A WAY THEY SAY TO PREVENT OVERSUBSCRIPTION LAST TIME I CHECKED IT WAS ILLEGAL THAT IS OU BUY N THE NAMES OF ALL MEMBERS AND FAMILY AND PHOTOCOPPY THE FORMS WITHTHE NAMES AND SIGNATURE AND KEEP M PEOPLE THIS IS RAL CHAOS

Hello Sam,

I feel your pain and disgust with the way the public offer was run. I bought Aiico and Costain on the last day of the offer because all the receiving banks that I went to just opened accounts for the offers on the closing date here in Ile Ife, where I stay. The excuse they gave was that they got the forms late.

You cannot really blame them for what happened. I believe the offer came like that because these companies are not as rich as the banks who have enough money to spend on massive mobilization of funds for their public offer. You also have to couple that with the fact the offer came at the end of the year when Nigerian workers generally beome lazy. I am sure that there were so many other factors involved that I have not touhed.

At least you were able to get the offer. Your next prayer is for your money not be returned because I shudder to think of the way you will react if it happens considering the way you took the unavailability of the offer forms.

Cheers man and happy new year to you and all of yours.
The Knight of Delta.

[chidiohaz]

Please we should all be very careful what we are posting here. B'cos PO Forms did not get to my mother's kitchen then I should have a condemning attitude towards a whole process???? Maaaannnnnn, this is absurd!!!!

This guy is just talking about the purchase of the Public Offer how much when he purchases and he did not see his Share Certificate on time, then he would blow off the rooftop of costain w.a., May God help us in this Nigeria oooo

[shakasha]

I think people castigating these offers should learn to plan ahead, most times we have knowledge of these POs even before they come out so i think we should prepare and not wait till the last day of the offer. And also try and register with a reliable and reputable stockbroker, for me i bought each of Costain & aiico twice from my stock broker.

[crtide]

Originally Posted by chidiohaz

Please we should all be very careful what we are posting here. B'cos PO Forms did not get to my mother's kitchen then I should have a condemning attitude towards a whole process???? Maaaannnnnn, this is absurd!!!!

This guy is just talking about the purchase of the Public Offer how much when he purchases and he did not see his Share Certificate on time, then he would blow off the rooftop of costain w.a., May God help us in this Nigeria oooo

It seems like you have come to consider it normal and acceptable for the whole process to be irregular and chaotic.
I am sorry, it is simply not acceptable, let us call a spade a spade. Why should he not complain when something that is written in the prospectus, something as straight forward as the receiving agents SEEM wrong. How much more the complicated forecasts and projections upon which alot of people will base their decision.
Please SAM by all means complain if we don't , it will not improve

[chidiohaz]

Originally Posted by crtide

It seems like you have come to consider it normal and acceptable for the whole process to be irregular and chaotic.
I am sorry, it is simply not acceptable, let us call a spade a spade. Why should he not complain when something that is written in the prospectus, something as straight forward as the receiving agents SEEM wrong. How much more the complicated forecasts and projections upon which alot of people will base their decision.
Please SAM by all means complain if we don't , it will not improve

I am referring to Sam complaining about him finding it to get copy of the costain stuff (i.e. about the availability) and not the technical details of the offer, we all agree that there are imperfections in the Costain fundamental details, please take note!!!!

[Apache]

Hi guys,
It has been reported that Costain is to purchase 40% of premier paints. This is a good time to take position in premier paints. what do you think?

[newton]

Sure. They said in their offer doc that they'd make some strategic acquisitions and I think that of premier paints wd help them a lot... recyclin cash. But ofcourse u'll not get premier paints on the floor now...

[chidiohaz]

I need to take position now on premier paint. I must ask my stockbroker to start buying. That's a good piece of information!!!!!