Dangote flour

[bolanle]

Originally Posted by Apache
Just take the warrant, certificate and a copy of the offer form you filled (I hope you made & kept a copy) to Oceanic registrars. They will tell you what to do.

Ooops! I just checked your location and saw you are outside the country. Well you have 2 options, either you call Oceanic registrars (unfortunately, i don't have their number) or you send someone over there with the complaint. they will tell you what to do.

Their tel number is 01-2713300-7; and if sending someone, their office is at 226 Awolowo Road, Ikoyi. Goodluck.


thanks for the response

[ayo otesile]

pls have they sent the return money?

[ayo otesile]

pls have they sent the return money?

[freeky]

Originally Posted by zainabusman

I use Springboard Trust and Investment. They are at NIJ house, Adeyemo Alakija Street, 1st Floor, VI.

They are affordable as they have no minimum deposit.

please do they have a phone number

[hispy99]

Originally Posted by freeky

please do they have a phone number

Springboard Trust & Investment Limited- Welcome

Lagos Address:
NIJ House (1st Floor)
20 Adeyemo Alakija Street
Victoria Island,
Lagos, Nigeria.

Telephone Numbers:
234 803 123 0123 (24 hour Service - Toll Free)
234 1 2629617-8
234 1 2627783

Fax:
234 1 4613787

[rose]

Originally Posted by ayo otesile

pls have they sent the return money?

Check where you submitted your application form. They should have your returned money.

[ayo otesile]

Originally Posted by rose

Check where you submitted your application form. They should have your returned money.

I submitted in a bank. can it be their.

[Apache]

Originally Posted by ayo otesile

I submitted in a bank. can it be their.

Yes, go there with your ID card and you should get it

[ayo otesile]

Originally Posted by Apache

Yes, go there with your ID card and you should get it

thanks alot. I will check the bank.

[freeky]

thanks.i'll check them out on ur tab

[Dr.A.S.Ukpera]

I've received neither share certificate nor returned money to date. what do i do now?
Simon

[threecrown]

Wetin be dis? Any interpreter in the house?

[ntom]

maybe it is the language of dangote flour

[olusolakemmy]

Originally Posted by stevak

Anyway I look at it, I can’t fully grasp it. Dangote flour was oversubscribed by 520%.
See StockHouse.ca : Dangote Flour IPO oversubscribed by 520 per cent for the gist. They knew their offer would be oversubscribed, (which IPO was not oversubscribed in recent times?) yet they applied for approval for a sum far lower than what they needed. Then they ran like a bat out of hell after the banks to borrow money at a cost far higher than what would obtain on the capital market.
Hold tight folks. Then they said they are going to return excess oversubscription (Do I hear heart-rending groans of pain?) and pay between 5% to 7% interest to investors. And they appear quite pleased to pay high interest rates to the banks.
I don’t get it. If you add the 5% to 7% interest returnable to investors to the interest rates charged by the banks, this company is paying real money as cost of funds. It looks like they don’t need the money they are asking for in the initial public offer. Or someone out there regretted making a mistake by going to the capital market in the first place and is hell-bent on damage control.
Hello stock market wizards. Don’t keep quiet. Speak up!

stevak

the man dangote is having a double stand.

if he utilise all the money he raised from the IPO or apply to use the oversuscribe fund, it will change the share holding structure of dangote flour, that is, if before the IPO funds, he has 60% for instance, he intend to still have that unit after the IPO, right? but if he make use of the excess fund, he will have to give up some unit!

he will prefer to be indebted to the banks than to give out substancial percentage of dangote flour to the public.

at the same time he wants to be listed because of the gains enjoyed by listed coys but not ready to change his share holding ratio.


moreover, the banks do not care, they are willing to give him money any time any day

[olusolakemmy]

Originally Posted by Dr.A.S.Ukpera

I've received neither share certificate nor returned money to date. what do i do now?
Simon

go to their registrar, i think is oceanic registrar.

you will definately know what next to do when you contact them

[ayo otesile]

am not sure but i think dangote offered a dividend of 40kobo during the IPO

[hispy99]

Complaints on non-receipt of DanFlour 07 share certificate
Posted Friday, September 5, 2008
PETER OBIORA

Proshare NI

September 05, 2008 at 15:39 GMT




Investors who took part into the Dangote Flour Mills 2007 Initial Public Offer (IPO) have renewed their complaints on the non-receipt of share certificates/ return money warrants.



A complaint from one Ukonu Tobechukwu an investor into the Dangote Flour Mill offer reads thus: “I earlier informed that am yet to receive Share Certificates and Return/Money for the stated Dangote Flour Shares.



Well, I received a share certificate against my name Ukonu, Tobechukwu in July 2008 for only 750 units compared to the 3,000 units applied for.



I have not received any Return Money till date.



I have not also received share certificate against the name Ogueri Chimaraoke for the 2,000 units applied for. I have provided all documents involved in this transaction.



The phone lines provided below are not working, and non-response to emails is not a customer friendly attitude. Please direct my request to the appropriate personnel”



Proshare NI sought to clarify the issue with Oceanic Registrars today in Lagos Nigeria, Segun Ogunnoiki; Managing Director/Registrar of the company; in a reaction to the investors complaints, affirmed that Oceanic Registrars have been doing its best to make sure that people get their return money warrants and share certificates.



Ogunnoiki affirmed that Oceanic Registrars has urgently requested all receiving agents, banks and Stockbrokers who participated in the offer to return money warrants and share certificates in their possession for direct posting to shareholders.



Proshare confirmed this through a publication by the company on July 14, 2008 in The Guardian Newspaper.



Ogunnoiki further affirmed that Oceanic Registrars has since dispatch same through Bulk Post Ventures.



“Following this, the complaint has drastically reduced” he said.



He however, advised those who have not received to contact any Oceanic Bank branch for the matter to be resolved.



In the same vein, Ogunnoiki confirmed to Proshare NI that return money warrants are been revalidated by Oceanic Registrars. “For those whose return warrants have expired, we advise them to apply for reissue, we revalidate these warrants and pay them into their accounts” he said.



Dangote Flour Mills had in September, 2007 offered to the investing Nigerian Public 1,250 billion Ordinary Shares of 50 Kobo each at N15.00 per share.



As earlier reported by Proshare NI, Oceanic Registrars had affirmed that they are ready to reissue returned share certificates by hand as regards the Dangote Flour Mills 2007 offer.