Mutual benefits Assurance Plc

[billions]

Originally Posted by hispy99

Mutual Benefits is most likely going to do a PO, but I do not know when.

Congrats on ur 1007th post....u full ground remain.

[hispy99]

Originally Posted by hispy99

Mutual Benefits is most likely going to do a PO, but I do not know when.

Thank you jare...1007? Maybe that is why my productivity as work is declining

[Apache]

Originally Posted by hispy99

Thank you jare...1007? Maybe that is why my productivity as work is declining

Omo! I thought i was the only one

[austine42007]

This Company If Likely To Go On Public Offer This Yr And Also Will Be Giving Its Existing Shareholder Right Issue For Its Public Offer And The Company Will Be Holding Its Agm On 31 July In Kaduna State So Any Body Who Do Attend The Agm Should Plz Put Down All Discussion And The Amount They Will Be Selling The Right Issue Also They Say Payment Of Dividend Or Dividend Warrant We Be Posted On 11 August Plz See Punch News Paper For More Details [u]date Is 3 July

[londoncool]

I wonder how much the Rights Issue will be going for as todays price has broken the previous support levels for the 3rd time in 5 days @N2.79.

[emmanuel ewumi]

What is the matter with this stock,it now sells for less than N2.80.

[billions]

Originally Posted by emmanuel ewumi

What is the matter with this stock,it now sells for less than N2.80.

...i dont think d problem is wth d stock but d market.I dont think oceanic bk,skye bk,GTB,etc hv problems but we all know what d market is doing to them.

[londoncool]

Originally Posted by billions

...i dont think d problem is wth d stock but d market.I dont think oceanic bk,skye bk,GTB,etc hv problems but we all know what d market is doing to them.

Do you see any glimpse of "bouncebackability" for Mbenefit since most investors are dumping the stock before it goes on TS? funny enough it is on the "must have" list of nearly all the Stock Research departments.It broke its support for the 4th time in 2 weeks yesterday at N2.66 and according to the Candlesticks its due for another support-breaking downward movement trend today.

[billions]

Originally Posted by londoncool

Do you see any glimpse of "bouncebackability" for Mbenefit since most investors are dumping the stock before it goes on TS? funny enough it is on the "must have" list of nearly all the Stock Research departments.It broke its support for the 4th time in 2 weeks yesterday at N2.66 and according to the Candlesticks its due for another support-breaking downward movement trend today.

The stock did abt 5% north today....things shd get better for MB and d market in general next week.

[threecrown]

The appetite of foreign investors to get good returns from the Nigerian economy has continued to grow as Daewoo Securities (Europe) Limited of United Kingdom, has invested in Mutual Benefits Assurance (MBA) Plc.
MBA is one of the insurance firms that was successful in the recent recapitalisation exercise. THISDAY check revealed that Daewoo Securities recently invested N2.6 billion in MBA through a “Bond with Option.”
Financial analysts explained that the implication of the option clause is that the company can convert its investment into equity at a later date.
Daewoo Securities trades in various securities. The company also engages in brokerage, investment banking, and wealth management businesses. It also sells and trades in investment banking-related products. The company is also involved in initial public offerings, corporate bonds, rights offerings, and asset-backed securities businesses.
The Chairman of MBA, Mr. Chamberlin Oyibo, confirmed the investment by Daewoo Securities in his report to shareholders ahead of the company’s Annual General Meeting scheduled to hold in Kaduna, Kaduna State, next week.
“Based on the attractiveness of MBA to foreign investors, Daewoo Securities (Europe) has invested the sum of N2.6 billion in our company through “Bond with Option,” he said.
Oyibo said that MBA has been transformed into a highly successful and sustainable business committed to delivery superior services to customers, providing career development opportunities for employees and building value for shareholders.
Meanwhile, the directors of the company are asking the shareholders to approve the allotment of shares to Charles Enterprises LLC and CIL Risks & Asset Management Limited, two companies that invested in the company during its last public offering.
Specifically, directors want 2.1 billion ordinary shares of 50kobo each out of the company’s unissued share capital be allotted to Charles Enterprises at 60 kobo per share.
A total of 165,483,380 shares of 50 kobo each are to be allotted to CIL at 60 kobo per share.
In the same vein, the directors are asking for shareholders’ approval to allot MBA’s shares to existing shareholders of Worldwide Insurance Plc that was acquired by MBA.
The directors are requesting that 45,775,960 shares of 50 kobo each of the company be allotted to shareholders of Worldwide Insurance at the ratio of one MBA’s shares of 50 kobo each for every five shares of N1 each of Worldwide Insurance.
Apart from the above, MBA plans to return to the capital market for more funds.
Consequently, the directors have requested: “That pursuant to Article 35 of the Article of Association of the company, and in line with authorised share capital, which is N10 billion divided into 20 billion ordinary shares of 50 kobo each, the board of directors is hereby authorised to raise additional capital by way of equity or debt, or a hybrid, through redeemable convertible bonds, loans, preference shares, by way of offer for subscription and/or right issues, upon such terms and conditions to be determined at the discretion of the directors and subject to any requisite regulatory approvals.”
MBA posted gross premium of N2.21 billion for the year ended December 31, 2007, up by 13 per cent from the N1.947 billion in 2006. Profit after tax rose by 48 per cent from N702 million in 2006 to N1.037 billion in 2007.
The directors have recommended a dividend of N480 million, which translate into six kobo per share.

[riskreturn]

Mutual Benefits Assurance Plc
2nd Quarter Ended 30/06/08
2008 2007 %change
Turnover N1.58b N0.957b 65.32
Profit Before Taxation N774.32m N525.73m 47.30
Taxation (n92.91m) (n76.23m) (21.88)
Profit After Taxation N681.4m N449.5m 51.60

[hispy99]

Originally Posted by riskreturn

Mutual Benefits Assurance Plc
2nd Quarter Ended 30/06/08
2008 2007 %change
Turnover N1.58b N0.957b 65.32
Profit Before Taxation N774.32m N525.73m 47.30
Taxation (n92.91m) (n76.23m) (21.88)
Profit After Taxation N681.4m N449.5m 51.60

Who has the Q1 PAT for comparison?

[Apache]

Originally Posted by hispy99

Who has the Q1 PAT for comparison?

I was just about to ask the same

[hispy99]

Originally Posted by Apache

I was just about to ask the same

Can't find any Q1 result for this company...did they just skip it?

[pegheneji]

pls i need assistance from the house. i was having 60,000 unit of mutual Benefit when they gave 9 to 10 in 2006 before the feb 2007 consolidation. i have not recieved my bonus since then. though i have sold the innial holding in june 2007. i leave in abuja and do not know if their registrar has any branch in abuja. please what can i do to retrive my bonus, i need as much response as possible.

thanks

[austine42007]

Has anyone in the house recieve his/her dividend on MUTUAL BENEFIT ASSURANCE DECLEARATION financial year ended for 2007 and is their any hope for us to recieve it before the year finally end ? plz i am tired of all this company of their releases they are too slow in doing thing and i also think people are running out from the market due to all the robish they are seeing in the market

I do learnt that some investor have turn their back on the primary market due tho the hard headach in the issue of share certioficate and return maone plz i fo not urgent reply on the dividend issue