Ferdinand Oil Mill

[hispy99]

Ferdinand Oil keeps investors in the dark
Posted Wednesday, August 6, 2008

-As share price soars



PETER OBIORA

Proshare NI

August 06, 2008 at 10:44 GMT

Ferdinand Oil Mills Plc has for sometime now kept investors in the dark for some time even as enquiries keep on pouring in concerning the current status of the company.

One of such enquiries is from one T. Ikpa an investor who sent a mail to Proshare NI. His mail reads thus: “Please do investigate Ferdinand Oil. I know where the factory is situated.

I know that nothing went on there for over fifteen years. I know that Ferdinand oil’s demise was responsible for the collapse of Centre Point Merchant Bank Ltd.

Now the share price of Ferdinand Oil has risen up from limbo and is making waves barely one year after the founder Chief Ferdinand Anaghara himself died. Please find out what is going on. Could this be another scam or a true resurrection?”

Following this, Proshare NI sought to find out more about the company.

Statistics as at Wednesday August 06, 2008 on the official site of the Nigerian Stock Exchange (NSE) shows that the open, high, low and closing prices of the company stands at N3.47 Kobo respectively.

Further information made available as regards Ferdinand Oil Mills shows that the company was listed on the Food/Beverages & Tobacco sector of the NSE on August 12, 1992.

Proshare NI also gathered from the official site of the NSE that the date of last sale of the stock was Wednesday, May 30, 2007. While Registrars to the company is Centre-Point Securities Limited, NICON House, 5, Customs Street, Lagos.

But a market operator affirmed that Centre-Point is located at Investment House in Lagos Island. And traded today Wednesday August 06, 2008 on the shares of Ferdinand Oil Mills.

However, as at the time of filling in this report, Proshare NI sought to find out from Centre-Point Securities the current status of Ferdinand Oil Mills, but a visit to the above address could not yield any dividend as Proshare NI was told that the company has moved its office to Victoria Island.

While other sources affirmed to Proshare NI that the office is located at the Ikoyi area of Lagos State.

Information gathered by Proshare NI on the 2007 Facts book of the NSE shows that one Centre Point Investments Limited is at NICON House, 5, Customs Street, Lagos.

Other information made available to Proshare NI indicates that the company’s Head Office is located at Plot C 16 Independent Layout, Enugu, Enugu State. With the following phone numbers, 042-338793, 042-334136 which Proshare NI as at the time of filling in this report tried to connect without success.

The nature of business of the company is the establishment and management of Palm Plantations.

More information available to Proshare NI affirms that Ferdinand Oil Mills factory is situated at Urualla in Ideato North Local Government Area (LGA) of Imo State.

Proshare NI also gathered that the company stopped operations before year 2000 following the demise of its Chairman/Founder in 2007, this year, the share price of the company rose from 50 Kobo to N3.47 Kobo as at Wednesday August 06, 2008.

A tracking of the price of the stock shows that as at March 17, 2008, the current market price indicated on the Daily Official List (Equities) made available by the NSE was N0.53 Kobo. While the one indicated on May 16 shows that the current price was N0.64 Kobo.

However, the last financial results made available to the NSE as indicated in its 2007 Facts Book by Ferdinand Oil Mills is the 2006 Financial Year End (FYE) as at March 31, 2006.

Also, it was affirmed that Ferdinand Oil later went into the production of rubber from latex and rubber cup lumps.

From the mail sent to Proshare NI, it was further affirmed that the company had no plantation, therefore, bought rubber lumps from local producers in Benin City and Calabar.

Again, in the mid 90’s the international price of exported rubber fell drastically below the cost of the locally sourced inputs, thereby leading to the bankruptcy of Ferdinand Oil Mills.

“It went burst as a result and dragged Centre-point Merchant Bank Ltd down with itself” the mail read.

As at the time of filling in this report, Proshare NI could not get officials of the company, the NSE or its Registrars; Centre-Point Securities to clarify the true status of Ferdinand Oil Mills and what is driving its price upwards.

Some of the Market Operators Proshare NI sought to confirm the current position of the company; affirmed that the shares of the company is still being traded on a daily basis on the Floors of the Exchange.

“Some clients as at today asked me to trade the shares of the company for them” one of the Market Operators said.

On the current growth of the company’s shares, one of the Stockbrokers affirms that it is not supported by available information in the market.

“For the past two years, they have not presented their Year End Results to the NSE” the Operator said.

The Market source further affirmed that there maybe indications that current owners of the company would have dumped their stock. “Maybe there is a planned takeover bid” the Market Operator affirmed.

“This is beyond intrinsic value, regulators should quickly step in so as to check the trend; before investors get trapped and lose money in the company following its recent price regime” the market source said.

[tonidol]

Originally Posted by hispy99

Ferdinand Oil keeps investors in the dark
Posted Wednesday, August 6, 2008

-As share price soars



PETER OBIORA

Proshare NI

August 06, 2008 at 10:44 GMT

Ferdinand Oil Mills Plc has for sometime now kept investors in the dark for some time even as enquiries keep on pouring in concerning the current status of the company.

One of such enquiries is from one T. Ikpa an investor who sent a mail to Proshare NI. His mail reads thus: “Please do investigate Ferdinand Oil. I know where the factory is situated.

I know that nothing went on there for over fifteen years. I know that Ferdinand oil’s demise was responsible for the collapse of Centre Point Merchant Bank Ltd.

Now the share price of Ferdinand Oil has risen up from limbo and is making waves barely one year after the founder Chief Ferdinand Anaghara himself died. Please find out what is going on. Could this be another scam or a true resurrection?”

Following this, Proshare NI sought to find out more about the company.

Statistics as at Wednesday August 06, 2008 on the official site of the Nigerian Stock Exchange (NSE) shows that the open, high, low and closing prices of the company stands at N3.47 Kobo respectively.

Further information made available as regards Ferdinand Oil Mills shows that the company was listed on the Food/Beverages & Tobacco sector of the NSE on August 12, 1992.

Proshare NI also gathered from the official site of the NSE that the date of last sale of the stock was Wednesday, May 30, 2007. While Registrars to the company is Centre-Point Securities Limited, NICON House, 5, Customs Street, Lagos.

But a market operator affirmed that Centre-Point is located at Investment House in Lagos Island. And traded today Wednesday August 06, 2008 on the shares of Ferdinand Oil Mills.

However, as at the time of filling in this report, Proshare NI sought to find out from Centre-Point Securities the current status of Ferdinand Oil Mills, but a visit to the above address could not yield any dividend as Proshare NI was told that the company has moved its office to Victoria Island.

While other sources affirmed to Proshare NI that the office is located at the Ikoyi area of Lagos State.

Information gathered by Proshare NI on the 2007 Facts book of the NSE shows that one Centre Point Investments Limited is at NICON House, 5, Customs Street, Lagos.

Other information made available to Proshare NI indicates that the company’s Head Office is located at Plot C 16 Independent Layout, Enugu, Enugu State. With the following phone numbers, 042-338793, 042-334136 which Proshare NI as at the time of filling in this report tried to connect without success.

The nature of business of the company is the establishment and management of Palm Plantations.

More information available to Proshare NI affirms that Ferdinand Oil Mills factory is situated at Urualla in Ideato North Local Government Area (LGA) of Imo State.

Proshare NI also gathered that the company stopped operations before year 2000 following the demise of its Chairman/Founder in 2007, this year, the share price of the company rose from 50 Kobo to N3.47 Kobo as at Wednesday August 06, 2008.

A tracking of the price of the stock shows that as at March 17, 2008, the current market price indicated on the Daily Official List (Equities) made available by the NSE was N0.53 Kobo. While the one indicated on May 16 shows that the current price was N0.64 Kobo.

However, the last financial results made available to the NSE as indicated in its 2007 Facts Book by Ferdinand Oil Mills is the 2006 Financial Year End (FYE) as at March 31, 2006.

Also, it was affirmed that Ferdinand Oil later went into the production of rubber from latex and rubber cup lumps.

From the mail sent to Proshare NI, it was further affirmed that the company had no plantation, therefore, bought rubber lumps from local producers in Benin City and Calabar.

Again, in the mid 90’s the international price of exported rubber fell drastically below the cost of the locally sourced inputs, thereby leading to the bankruptcy of Ferdinand Oil Mills.

“It went burst as a result and dragged Centre-point Merchant Bank Ltd down with itself” the mail read.

As at the time of filling in this report, Proshare NI could not get officials of the company, the NSE or its Registrars; Centre-Point Securities to clarify the true status of Ferdinand Oil Mills and what is driving its price upwards.

Some of the Market Operators Proshare NI sought to confirm the current position of the company; affirmed that the shares of the company is still being traded on a daily basis on the Floors of the Exchange.

“Some clients as at today asked me to trade the shares of the company for them” one of the Market Operators said.

On the current growth of the company’s shares, one of the Stockbrokers affirms that it is not supported by available information in the market.

“For the past two years, they have not presented their Year End Results to the NSE” the Operator said.

The Market source further affirmed that there maybe indications that current owners of the company would have dumped their stock. “Maybe there is a planned takeover bid” the Market Operator affirmed.

“This is beyond intrinsic value, regulators should quickly step in so as to check the trend; before investors get trapped and lose money in the company following its recent price regime” the market source said.

No worries! They will respond someday. A serious coy will take negative publicity seriously. I doubt this coy knows the implication of their silence if they even exist at all.

[waaan5]

Originally Posted by tonidol

No worries! They will respond someday. A serious coy will take negative publicity seriously. I doubt this coy knows the implication of their silence if they even exist at all.

I can bet you that Ferdinand Oil is another Afroil if not worse. Center Point Sec. may be an offshoot of the Defunct Center Point marchant Bank and as such, would have wharehoused Ferdinand oil shares which they are selling because some people buy stocks on impulse. SEC should look into this one too.

[Avocado]

A clear example of why to heed to advice to buy into a company, not just buying stocks.

waaan5: this one pass Afroil. These guys'll be making about more than 590% on each share sold; and that for a company that's not doing any business, and with assets worth zilch.

The advice is basic: people ought to check out what they're buying.
.

[hispy99]

Originally Posted by Avocado

A clear example of why to heed to advice to buy into a company, not just buying stocks.

waaan5: this one pass Afroil. These guys'll be making about more than 590% on each share sold; and that for a company that's not doing any business, and with assets worth zilch.

The advice is basic: people ought to check out what they're buying.
.

Unfortnately, many don't especially when the market is bullish.