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  #1 (permalink)  
Old 3rd April 2008, 08:04 AM
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Post African Alliance

Hi Folks,

I got a text on my phone from a dud requesting me to pick up African Alliance shares at a PP offering N3.00 and a direct transfer of investment and Allied insurance CSCS direct transfer at N1.75. Any advice before I make a wrong move please?
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  #2 (permalink)  
Old 3rd April 2008, 08:45 AM
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Quote:
Originally Posted by Leaders View Post
Hi Folks,

I got a text on my phone from a dud requesting me to pick up African Alliance shares at a PP offering N3.00 and a direct transfer of investment and Allied insurance CSCS direct transfer at N1.75. Any advice before I make a wrong move please?
I thought this company was acquired by Universal Insurance. Meanwhile, do you know this dude? If you don't, better ignore.
If you are still thinking about it, read my signature
As for IAA, let him tell you what he is selling, is it the =N=2 par value or what. You have to read through the IAA thread in the private placemnt forum.
Meanwhile, welcome on board
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Old 3rd April 2008, 05:31 PM
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Quote:
Originally Posted by Leaders View Post
Hi Folks,

I got a text on my phone from a dud requesting me to pick up African Alliance shares at a PP offering N3.00 and a direct transfer of investment and Allied insurance CSCS direct transfer at N1.75. Any advice before I make a wrong move please?
FIRST OF ALL, HOW DID THIS "A DUD" GOT YOUR NUMBER ?. since this person is not your broker, my advice is to ignore the text. african alliance is now 100% owned by universal insurance and as for IAI they would be listing very very soon.
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Old 8th April 2008, 07:35 AM
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Default African Alliance

Tx folks. I appreciate your responses.
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Old 8th April 2008, 05:07 PM
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Fraudster at it again!!!

Beware!
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Old 8th April 2008, 05:11 PM
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Quote:
Originally Posted by Saintbeng View Post
Fraudster at it again!!!

Beware!
Nobody is asking the question on African Alliance.
Abeg, which one is this?
Leaders, pls explain more.
Have u taken the offer for AA? or is this IAA??
Abeg keep the hse posted.
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Old 8th April 2008, 05:54 PM
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Quote:
Originally Posted by Abinishio View Post
Nobody is asking the question on African Alliance.
Abeg, which one is this?
Leaders, pls explain more.
Have u taken the offer for AA? or is this IAA??
Abeg keep the hse posted.
What I am pointing at is that fraudster have used several avenues of ripping people of their wealth. The new phase of scam is now through the capital market. At the stage when the 'developing market' is gaining massive recognition and acceptance, they are have found the loophole, and are penetrating through it.

As for IAA, it's a PP which has been concluded and would be listed before the end of this month or early next month.
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Old 8th April 2008, 06:32 PM
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Quote:
Originally Posted by Leaders View Post
Tx folks. I appreciate your responses.
So AA is IAA???
Pls confirm

Cheers
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Old 8th April 2008, 06:50 PM
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Quote:
Originally Posted by Abinishio View Post
So AA is IAA???
Pls confirm

Cheers
AA stands for African Alliance while IAA stands for Investment and Allied Assurance.
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Old 8th April 2008, 06:54 PM
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Quote:
Originally Posted by Saintbeng View Post
AA stands for African Alliance while IAA stands for Investment and Allied Assurance.
Back to my question?
When was AA PP?
nobody is asking about this?
Please advise if this is Insurance or any other.

Shike'na walahi

Cheers.
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  #11 (permalink)  
Old 8th April 2008, 07:04 PM
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Quote:
Originally Posted by Abinishio View Post
Back to my question?
When was AA PP?
nobody is asking about this?
Please advise if this is Insurance or any other.

Shike'na walahi

Cheers.
The point we are trying to make is that African alliance doesn't exist anymore since it has been 100% acquired by Universal Insurance.
So @leaders will have to clarify with that guy on what he is talking about.
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  #12 (permalink)  
Old 8th April 2008, 07:14 PM
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Apache,
Forever loyal! You are truely a Forum moderator.
See as u have put finality to discuss.

I dey salute
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Old 9th April 2008, 09:21 AM
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This COULD possibly nail the coffin

Vanguard Online Edition
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Old 14th April 2008, 11:04 PM
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Watch this space!!

I heard Universal Insurance might be selling part of its holding as a Private Placement.

This might be happening any time soon.
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Old 15th April 2008, 02:35 AM
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Quote:
Originally Posted by solainvest View Post
Watch this space!!

I heard Universal Insurance might be selling part of its holding as a Private Placement.

This might be happening any time soon.
I heard same.
I heard, AA is doing a PP @ N2 and will stand as a seperate entity from Universal. Don't know hw true this is but heard its on and monies are due.

Will try getting more info.
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Old 15th April 2008, 07:58 PM
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Quote:
Originally Posted by Abinishio View Post
I heard same.
I heard, AA is doing a PP @ N2 and will stand as a seperate entity from Universal. Don't know hw true this is but heard its on and monies are due.

Will try getting more info.
if universal insurance has acquired 100% of AA, and now they want to sell it less than six month, then maybe something is wrong with wath they bought. i wonder wath NAICOM is saying about this buying and reselling game. becuase if this is allowed to happen, most insurance company that did not meet the recapitalization deadline, will approach those that did so that they can buy them over 100% and resell these firms to the market. maybe this is even one of the plans of NAICOM to help those that could not meet the deadline. but i strongly suggest we read the prospectus before we move.
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Old 15th April 2008, 08:55 PM
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Whao...

Guess wat...

wat if Univ Ins dint really pay (4 now) for the so-called AA buy over (may be @ <N1). Now they sell part of it (say 50%) to investors @ N2 so as to raise required funds to finance their purchase.

so in actual sense, they dint really buy AA, instead they traded their name and investors bring in funds to acquired AA... just like most private equity firms do.
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Old 15th April 2008, 09:47 PM
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Quote:
Originally Posted by newton View Post
Whao...

Guess wat...

wat if Univ Ins dint really pay (4 now) for the so-called AA buy over (may be @ <N1). Now they sell part of it (say 50%) to investors @ N2 so as to raise required funds to finance their purchase.

so in actual sense, they dint really buy AA, instead they traded their name and investors bring in funds to acquired AA... just like most private equity firms do.

Just like you have rightly noted. What I was told they did was that it was a Leveraged buy out. They borrowed money and paid for the balance of the shares.

They are currently paying interest on this and want to to sell part of it to finance this. They will be making a huge profit because they bought the balance at a huge discount to the proposed Private Placement price (maybe N2).
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Old 15th April 2008, 09:52 PM
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Quote:
Originally Posted by solainvest View Post
Just like you have rightly noted. What I was told they did was that it was a Leveraged buy out. They borrowed money and paid for the balance of the shares.

They are currently paying interest on this and want to to sell part of it to finance this. They will be making a huge profit because they bought the balance at a huge discount to the proposed Private Placement price (maybe N2).
so wat are we buying through this PP, AA or Univ.
what entity are we dealing wit?
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Old 16th April 2008, 06:57 AM
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Guys my advise to anyone is to stay of this private placements. the shares are over bloated and so many wahala, i did some last year and still licking my wounds. Their are better options in the secondary market with fewer outstanding shares. i have be wrong before.
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