Globe Reinsurance

[edwardaigbokhan]

Originally Posted by solainvest

Globe Re/Nigeria Re merger to conclude in next 4 weeks
Posted Thursday, July 17, 2008



PETER OBIORA

Proshare NI

July 17, 2008 at 16:12 GMT



Globe Reinsurance Plc (Globe Re) and Nigeria Reinsurance Plc (Nigeria Re) may conclude its ongoing merger in the next four weeks. Abiola Ekundayo, Managing Director/Chief Executive Officer (MD/CEO) of Globe Re made this affirmation to Proshare NI today in Lagos Nigeria.



Ekundayo confirmed that National Insurance Commission (NAICOM) has issued both Reinsurance companies a two months ultimatum to conclude the proposed merger talks between the two Reinsurance companies.



“The situation changed when the Government did out of court settlement for Jimoh Ibrahim, a core investor in Nigerian Re and they gave two months for the settlement to be effected” he said.



Ekundayo further confirmed that the above agreement was signed in May 2008 and was implemented in June. “All parties are working together to make the merger a success” he affirmed.



“We are trying to harness and workout everything, within these two months; one month is almost gone, by August 2008 we have to conclude” Ekundayo affirmed.



He again confirmed that the merger must take place, “it is a must, there is nothing like half measure, is either we do what is expected of us or we get out of the way” he said.



Ekundayo further affirmed that Globe Re cannot do allotment of its 2006 Private Placement (PP) until the merger is conclude; which will determine the two companies position or their financial networth.



“If it were to be the interim board of Nigeria Re, we are having discussions with; by now we would have concluded, it was the Jimoh Ibrahim issue that delayed us” he said.



Prior to this time, Ekundayo had confirmed to Proshare NI that NAICOM has issued both companies a May 2008 end deadline to conclude their merger talks. “NAICOM initially gave us March, 2008 as deadline, but they postponed it to May 2008” he affirmed.



All these are coming on the heels of investors request to Proshare NI to confirm the true status of the Placement by Globe Re; as their money has since been held down by it.



Globe Re in 2006 sought to raise fresh funds by way of Placement and offered to investors six billion (6,000,000,000) ordinary shares of 50 Kobo each at 85 Kobo per share. Afribank Capital Markets Limited, were joint Issuing House to the Placement

I just hope and pray that we shall one day get our certificate from this company.

[olobade]

Originally Posted by 080729jk

　 北京兴奥办公家具有限公司是一家专业生产、设计、销售办公家具的专业化企业。产品包括文件柜，铁柜，更衣柜 ，办公桌，办公椅，办公家具办公屏风，电脑桌，电脑椅，货架，保险柜，课桌椅，北京办公家具上下床等办公家具系列。还为您提供办公家具设计，办公家具报价，办公家具公司办公家具价格，办公家具图片，办公家具维修等服务。　　多年来我们致力于办公家具领域相关产品的研发与生产 ，办公家具公司以为新老客户提供优质的办公家具为荣。本公司吸纳并培养了一批技术知识纯熟、生产管理经验丰富的员工。雄厚 的技术力量，高精密度的设备，办公家具公司严密的生产管理，为我公司生产出高质量的产品提供了强有力的保证。

Na wa oh!

Chinko don enter forum.

Person wey speak english for inlaw place, Na em go translate am.

Welcome Junior member Jackie Chan

[ttoladele]

Originally Posted by 080729jk

　 北京兴奥办公家具有限公司是一家专业生产、设计、销售办公家具的专业化企业。产品包括文件柜，铁柜，更衣柜 ，办公桌，办公椅，办公家具办公屏风，电脑桌，电脑椅，货架，保险柜，课桌椅，北京办公家具上下床等办公家具系列。还为您提供办公家具设计，办公家具报价，办公家具公司办公家具价格，办公家具图片，办公家具维修等服务。　　多年来我们致力于办公家具领域相关产品的研发与生产 ，办公家具公司以为新老客户提供优质的办公家具为荣。本公司吸纳并培养了一批技术知识纯熟、生产管理经验丰富的员工。雄厚 的技术力量，高精密度的设备，办公家具公司严密的生产管理，为我公司生产出高质量的产品提供了强有力的保证。

What language is this? Interesting, perhaps you will like to teach us your language, what do you say? You need the Administrator's consent though.
There is a language interpreter software on the internet via google.

[waaan5]

Originally Posted by olobade

Na wa oh!

Chinko don enter forum.

Person wey speak english for inlaw place, Na em go translate am.

Welcome Junior member Jackie Chan

Those are not real contributions. Those are trolls. They just wanted you to click on the hyperlinks and they will take you up from there. Glad the admin/moderators have taken care of that. We need to flag such when we see them.

[Apache]

Originally Posted by ttoladele

What language is this? Interesting, perhaps you will like to teach us your language, what do you say? You need the Administrator's consent though.
There is a language interpreter software on the internet via google.

I guess he's trying to tell us something about Globe Reinsurance

[tobenna]

Originally Posted by Apache

I guess he's trying to tell us something about Globe Reinsurance

Exactly what is he trying to say?
Tell us about Globe Re, Shaolin master
Speak English, Jackie Chan junior.
Speak

[tgs]

Originally Posted by tobenna

Exactly what is he trying to say?
Tell us about Globe Re, Shaolin master
Speak English, Jackie Chan junior.
Speak

I believed the person that posted that language is just trying to be funy,or maybe he has forgoting is no more in china

[tobenna]

Anybody, somebody know what the recent developments with Globe Re is?

[zainabusman]

Originally Posted by tobenna

Anybody, somebody know what the recent developments with Globe Re is?

While at Afribank Capital today to collect my Valueline refund, i asked about Globe Re. The story is that allotment will be done in October. However, Afri Capital is issuing refunds for those who want it. Although they dont advice it as they believe all will be settled b4 the end of the year.

Lets hope so as so many promises have been broken as far as Globe Re is concerned.

[donchisel]

[quote=080729jk]
　 北京兴奥办公家具有限公司是一家专业生产、设计、销售办公家具的专业化企业。产品包括文件柜， 铁柜，更衣柜 ，办公桌，办公椅，办公家具办公屏风，电脑桌，电脑椅，货架，保险柜，课桌椅，北京办公家具上下床等办公家 具系列。还为您提供办公家具设计，办公家具报价，办公家具公司办公家具价格，办公家具图片，办公家具维修等 服务。　　多年来我们致力于办公家具领域相关产品的研发与生产 ，办公家具公司以为新老客户提供优质的办公家具为荣。本公司吸纳并培养了一批技术知识纯熟、生产管理经验丰 富的员工。雄厚 的技术力量，高精密度的设备，办公家具公司严密的生产管理，为我公司生产出高质量的产品提供了强有力的保证 。

Originally Posted by waaan5

Those are not real contributions. Those are trolls. They just wanted you to click on the hyperlinks and they will take you up from there. Glad the admin/moderators have taken care of that. We need to flag such when we see them.

Waaan5 is right thatthey make no sence to this forum. Got some translations for the chinko inputs below.

1. Beijing Olympic Hing Office Furniture Co., Ltd. is a professional production, design, sales of specialized office furniture business. Products include file cabinets, Tiegui, wardrobe, desk, office chairs, office furniture, office screen, computer tables, computer chairs, shelves, safe, desks and chairs, get out of bed on the Beijing office furniture such as office furniture series. Also provide you with the design of office furniture, office furniture quotes, office furniture, office furniture prices, office furniture, pictures, office furniture maintenance and other services. For many years we are committed to office furniture-related products in the field of R & D and production, office furniture that's new and existing customers to provide quality office furniture proud of. Company to attract and cultivate a batch of technical know-how proficient, experienced production management staff. Strong technical force, high-precision equipment, office furniture company's tight production management for the company to produce high-quality products to provide a strong guarantee.

2. Beijing is popular Austria Office furniture Limited company is a specialized production, the design, the sale office furniture specialized enterprise.The product includes the filing cabinet, the till, changes clothes the cabinet, the desk, the office chair, the office furniture work screen, the computer table, the computer chair, the shelf, the safe cabinet, the class furniture, on the Beijing office furniture gets out of bed and so on the office furniture series

[hispy99]

Globe Re appoints First Registrars as TIDDO Sec withdraws
Posted Thursday, September 25, 2008
Proshare NI

September 24, 2008 at 19: 03 GMT





Globe Reinsurance Plc (Globe Re) has appointed First Registrars Limited as its new Registrars, following the withdrawal of TIDDO Securities Limited withdraws services.



Abiola Ekundayo Acting Managing Director (AgMD) of the reinsurance company confirmed this to Proshare NI Limited in Lagos Nigeria.



Ekundayo made available to Proshare NI a copy of the withdrawal letter by TIDDO of its services to Globe Re affirming that the company is no longer willing to be Registrars to it.



However, as at the time of filling in this report, Proshare NI could not confirm the reasons following the withdrawal of TIDDO as Registrars to Globe Re.



In the same vein, a letter of acceptance from First Registrars as new Registrars to Globe Re also made available to Proshare NI dated September 16, 2008 reads thus:



“We refer to your letter dated September 15, 2008 appointing us as the Registrars to your Private Placement, and write to confirm our acceptance.



We indeed appreciate your kind consideration and the trust and confidence reposed in our organisation. You can therefore rest assured of our continual prompt, efficient service delivery and the highest professional standard needed to achieve a successful and speedy execution of this all-important Private Placement” the letter affirms.



However, the letter was jointly signed by Yaya Lawal, Head, Marketing and Relationship Management and Abayomi Oluwato, Head, Business Development division of First Registrars.



Following this development, Ekundayo further affirmed that before the end of October 2008 Globe Re hopes to conclude its merger with Nigerian Reinsurance Plc (Nigerian Re).



Without prejudice from Proshare NI, investors are bothered over true status of Globe Re.



The ongoing merger process between Globe Re and Nigerian Re has taken undue delay as investors have waited a little over two years and has not received any returns on their investments into the company via a Placement between August and September 2006.



From the foregoing, Globe Re appears to be doing its reinsurance business under Nigeria Re whom has just received its licence from the National Insurance Commission (NAICOM) the insurance regulatory authority to operate in the reinsurance sector of the Nigerian economy.



Proshare NI sought also to confirm from Ekundayo when the merger process would end with Nigeria Re; “by the end of October 2008, the merger would have been completed” he said.



Ekundayo further affirmed that if the merger process is incomplete, there would be no allotment and issuance of share certificate to investors.



“Until we conclude the merger, we would not do allotment; which might further delay the issuance of share certificates to investors.



As earlier reported by Proshare NI Globe Re in its bid to meet the minimum capital requirement as directed by the Federal Government (FG) through NAICOM, offered to investors by way of Placement 6.0 billion Ordinary Shares of 50 Kobo each at 85 Kobo per share.

[pegheneji]

my fear in the whole thin is the exchange ratio, since globe re will be negotiatiating from a disadvantage point i hope Jimoh Ibrahim will not muscle them up. i dont know if it is better to ask of one money from Afribank since and buy other stock. house what is your advice on this.

[edwardaigbokhan]

My people, any hope about this company? my patient don finish

[zainabusman]

Originally Posted by pegheneji

my fear in the whole thin is the exchange ratio, since globe re will be negotiatiating from a disadvantage point i hope Jimoh Ibrahim will not muscle them up. i dont know if it is better to ask of one money from Afribank since and buy other stock. house what is your advice on this.

I for one have today dropped my application to Afribank today to collect my money back. I cant wait any longer. However, this is an individual decision.