oando

[Ozone]

Originally Posted by kenneth10

That may be true, One needs to be careful, but it may not necessarily apply to everyone who joined in Jan 2013.
I joined this year, and am an Oando shareholder who has totally lost faith in the company (sold my Access bank @ N6.5 to buy) only to discover later after the price took a dive that a lot of things had happened - Profit warning, payoffs for TSA&MSA cancellation, routing part of the payoff back into convertibles, initiating more convertibles, reverse takeover, holding shareholders bound my approvals given years ago, rights issues etc… Series cowboy behaviors.
Their action reminds me of a story I read in on edition of The Economist 2006 which chronicled how Martin and Oliver Bouygues were e able to personally acquire assets of Bouygues S.A. for themselves through a complex series of transactions stretched over years to the detriment of other shareholders. Today they are one of the richest in France.
French corporate governance: Creative construction | The Economist
Possible that’s the model they are following. They must have reasoned that if it could happen in France then it would be a piecemeal here.
I think we should be careful here in Nigeria and Africa at large about these Shenanigans and Robber Barons. They are taught these things in business schools. We saw them in action in the banking sector when as we were contributing money to them via POs and PPs they were laughing at us and were simply shoveling the money into their pockets. They are at work in Oando and in maybe in other companies as we speak.
That’s what capitalism breeds but we are in the modern world and shouldn’t allow them to profiteer.
Going through the earlier posts, it was clear to me that, if I had been following this forum and had all the news and analysis as at the time they were posted here, I would have taken off long ago and maybe would have gotten into greener pastures.
In summary, I joined this year but am totally against what is happening at Oando because there is a flagrant disregard for the rights of the small shareholders as a result of which am sitting on losses and missed oppourtunities.
That label may surely apply to some or most but not to everyone.

I have a simple question for the the forum members on SMN. Is it a must that a shareholder must have Oando shares in his portfolio? If not we shouldn't try to discourage any investor who wants to swim and sink with the Barrister 'Wale Tinubu led management team of the company. Some people really enjoy swimming in a shark, piranha and barracuda infested waters.

[hispy99]

Originally Posted by kenneth10

That may be true, One needs to be careful, but it may not necessarily apply to everyone who joined in Jan 2013.
I joined this year, and am an Oando shareholder who has totally lost faith in the company (sold my Access bank @ N6.5 to buy) only to discover later after the price took a dive that a lot of things had happened - Profit warning, payoffs for TSA&MSA cancellation, routing part of the payoff back into convertibles, initiating more convertibles, reverse takeover, holding shareholders bound my approvals given years ago, rights issues etc… Series cowboy behaviors.
Their action reminds me of a story I read in on edition of The Economist 2006 which chronicled how Martin and Oliver Bouygues were e able to personally acquire assets of Bouygues S.A. for themselves through a complex series of transactions stretched over years to the detriment of other shareholders. Today they are one of the richest in France.
French corporate governance: Creative construction | The Economist
Possible that’s the model they are following. They must have reasoned that if it could happen in France then it would be a piecemeal here.

cowboys plenty for this world sha

[Salida]

Originally Posted by chudinho

Originally Posted by Rukayat
I do not think we should treat Capital Market investment like this.. All the banks which were were trading at N30 or N50 in 2008-09 and now trading at N7 or N10 will also not be relied on... Specially with what is going on in Oil and Sector - still companies like Forte Oil and Oando are trying to make good investments for future of investors and the country... None of the companies which came with their Public Offers in 2008-09 are doing well.. does this mean that we should stop investing.... No...




Oga Emma, what Rukayat said is very correct. Some people in this forum are talking down stocks they don’t hold and promoting stock they hold since they know that this SMN community can make or mar any stock in the NSE. I challenge anybody on this forum to prove that Wale has not really invested huge in upstream assets. Oando was formerly an ordinary downstream marketing company. Yes, I have issues with their corporate governance especially how they paid themselves huge amount in 2011 year end but they are not alone in corporate governance issue. To be fair to the company, they have really made huge upstream investment which if well harnessed will be profitable in future. If they don’t invest, people will complain. If they do, people will also complain. At least I did not join this forum in 2013. Knowing what I know today, I will not advise a trader to invest in Oando but I will advise any value investor to invest as much as he can. Oando in not in my trading portfolio but enough in my investment portfolio.

Sir Chudinho, I beg to disagree with you. I think we have overflogged this Oando thing too much and it is high time people made their own decision and not wait to hear someone confirm their sentiment towards the company before they exercise their rights.

A good product will always sell itself. When the company came out in 2010 to do a rights issue, it was oversubscribed by 28%. Why is the company now going here and there courting PFAs, Investment analysts,etc in order to market themselves? It shows you so many things have gone wrong!

Ordinarily if the management of this company has done well in the past,the announcement that they plan to buy ConocoPhilips Upstream assets should have made patriotic shareholders falling head over heels to exercise their rights.Moreso the company will be making history as the first listed Indigenous company that will be playing an active role in the Upstream sector of the Oil industry.
While that is a good thing, we should not allow our sentiments to cloud our Investment acumen!
On a personal note, I have been a long term Investor in Oando. However, after following this stock in the last 2 years (did not exercise my rights in 2010 due to the revelations after going through their annual reports), I can tell you it has failed severely on many of the criteria I consider before investing(especially the Debt to Equity Ratio).
How can I exercise my rights when sometime last year, there had been an arbitrage to even mop up enough units on the floor of the market at less than NGN11? Oando in the past two years has been synonymous with Nigeria. Huge potential but several man-made challenges!!

That is on a personal note. Every person on SMN should do their own analysis and make their own decision. This definitely will be my last comment on this rights issue.
Of course if I see any useful info that supports either side of the divide, I will not hesitate to share it.

Happy Investing!

[lolobo]

Originally Posted by Salida

Sir Chudinho, I beg to disagree with you. I think we have overflogged this Oando thing too much and it is high time people made their own decision and not wait to hear someone confirm their sentiment towards the company before they exercise their rights.

A good product will always sell itself. When the company came out in 2010 to do a rights issue, it was oversubscribed by 28%. Why is the company now going here and there courting PFAs, Investment analysts,etc in order to market themselves? It shows you so many things have gone wrong!

Ordinarily if the management of this company has done well in the past,the announcement that they plan to buy ConocoPhilips Upstream assets should have made patriotic shareholders falling head over heels to exercise their rights.Moreso the company will be making history as the first listed Indigenous company that will be playing an active role in the Upstream sector of the Oil industry.
While that is a good thing, we should not allow our sentiments to cloud our Investment acumen!
On a personal note, I have been a long term Investor in Oando. However, after following this stock in the last 2 years (did not exercise my rights in 2010 due to the revelations after going through their annual reports), I can tell you it has failed severely on many of the criteria I consider before investing(especially the Debt to Equity Ratio).
How can I exercise my rights when sometime last year, there had been an arbitrage to even mop up enough units on the floor of the market at less than NGN11? Oando in the past two years has been synonymous with Nigeria. Huge potential but several man-made challenges!!

That is on a personal note. Every person on SMN should do their own analysis and make their own decision. This definitely will be my last comment on this rights issue.
Of course if I see any useful info that supports either side of the divide, I will not hesitate to share it.

Happy Investing!

My sentiments really, I think this Oando Rights issue or management issue is overflogged. If there are personal grievances, as a shareholder I guess you can write to any company on the exchange to provide you with details, clarify any issues concerning that companu

[chudinho]

Originally Posted by emmanuel ewumi

Na wa for all of una wey join the forum in January 2013, i hope say una no be OANDO staff. Analyst Proshare sef join the forum in January 2013, and na OANDO thread all of una dey frequent.

Originally Posted by Salida

Sir Chudinho, I beg to disagree with you. I think we have overflogged this Oando thing too much and it is high time people made their own decision and not wait to hear someone confirm their sentiment towards the company before they exercise their rights.

A good product will always sell itself. When the company came out in 2010 to do a rights issue, it was oversubscribed by 28%. Why is the company now going here and there courting PFAs, Investment analysts,etc in order to market themselves? It shows you so many things have gone wrong!

Ordinarily if the management of this company has done well in the past,the announcement that they plan to buy ConocoPhilips Upstream assets should have made patriotic shareholders falling head over heels to exercise their rights.Moreso the company will be making history as the first listed Indigenous company that will be playing an active role in the Upstream sector of the Oil industry.
While that is a good thing, we should not allow our sentiments to cloud our Investment acumen!
On a personal note, I have been a long term Investor in Oando. However, after following this stock in the last 2 years (did not exercise my rights in 2010 due to the revelations after going through their annual reports), I can tell you it has failed severely on many of the criteria I consider before investing(especially the Debt to Equity Ratio).
How can I exercise my rights when sometime last year, there had been an arbitrage to even mop up enough units on the floor of the market at less than NGN11? Oando in the past two years has been synonymous with Nigeria. Huge potential but several man-made challenges!!

That is on a personal note. Every person on SMN should do their own analysis and make their own decision. This definitely will be my last comment on this rights issue.
Of course if I see any useful info that supports either side of the divide, I will not hesitate to share it.

Happy Investing!

Oga Salida, you possess unchallenged right to disagree with me as it is your prerogative not to agree entirely with my opinion. Divergent opinion makes an argument healthy. To support my argument that some people talk stocks down because they don’t hold it. I will use a different stock from one I used in my previous example to avoid unwarranted slight. Dangote flour has been releasing disaster as result and when some people pointed it out here, some forumits come to their defense. The price starts appreciating even when Tiger Brand news has not filtered in. Eventually Tiger brand bought it over. People don’t go to AGM and when management starts implementation of the resolutions reached at AGM by Shareholders, some Shareholders who never attended will start to cry blue murder. Shareholders have the right to challenge the actions, reactions and inactions of any company including Oando at a court of law. Old investors who bought Oando from 2006 to 2010 may not see value in the company. I that bought at sub =N=11 see a lot of value in the company. In stock market, somebody has to lose money for another person to make money. I hope to lose some money in Oando to enable some cowboys make money. Until then, let me wait and see. Let me reiterate that all companies on NSE except a few two or three has the same issue of corporate malfeasance.

[ambitiousr]

Hello everyone in the room, as all well and said about Oando company, I think we should leave Oando for now and allow all the interested investors who fall in love with the company to invest into. We can continue to discuss Oando after their audited financial reports is out for the year 2012 and see all the manipulation of figure. Let's focus on something else that will be profitable to every members. Believe me, Oando is a distraction at the moment. For examples, what would you tell someone that invested #15 millions in Oando in 2009-2010 and the investment only worth #2.3 millions today? I know the new investors in Oando buying at #11, #12, #13... will surely say a positive things about it? Well the ball is in everybody court, let's play it right. Oando should be a resting case for now plz. Just a suggestion!!!

[hispy99]

I fear for all this emotional and sentimental analysis over OANDO....I wonder why folks get antsy when people talk down on stocks. It's their opinion and as much as you would like to believe, SMN is not the stock market. What proportion of trades are by local investors, not to talk of SMN. Why do we thing that once a stock has been "put down" here, the stock will not do well? I have stocks in my portfolio that people have lambasted on this forum, I really appreciate all forms of bashings on stocks I own. Now I know that no matter how much I love NEM, I should be careful of Chief Teluwo. Ultimately, it's up to me to decide whether to be swayed by such outbursts or just stick to my own analysis. At the end of the day, no matter how much we "put down" a stock here, it does not matter in the scheme of things. If you like, say 1 billion bad things about NESTLE, that will not stop people from buying maggi cubes.

Let's just analyse and move on. If the analysis does not "sweet your belle", ignore it and move on. We are all here to make money, at least I am

[wanaj0]

Maybe we should lock the thread so that we can leave OandO alone.

Or better still only those that have positive things to say about OandO should post.

People forget that some few weeks ago, KOD was thrilled by OandO until they started showing their cards.

For all the importance of this forum, I doubt if we have sizeable funds to MOVE the market. Do we trade billions daily.

For me, you can talk down or talk up any share. At the end of the day, no one knows what you are buying. So let everyone be fully persuaded.

That said, I support anyone buying OandO. I mean Jesus himself learnt obedience by the things which he suffered.

As for me and my house, na Ocean and Oil we want.

For those getting carried away with the noise about upstream, go and research about upstream oil companies and understand the business so that you don't get confused by power point presentations! People need to understand the risk associated with the businesses they are involved in!

Happy investing. The bulls are here hence the NEWCOMERS! The BEARS will soon drive people away lol

[Babs_O]

Originally Posted by emmanuel ewumi

I hope to do same. Unfortunately, i don't have enough fund to take up all my rights.

Let the market makers pump the price now. What are they waiting for so that we can recycle same cash for more units.

[cecemontero]

Originally Posted by Ozone

I have a simple question for the the forum members on SMN. Is it a must that a shareholder must have Oando shares in his portfolio? If not we shouldn't try to discourage any investor who wants to swim and sink with the Barrister 'Wale Tinubu led management team of the company. Some people really enjoy swimming in a shark, piranha and barracuda infested waters.

Bros, just like people come here to analyze companies for you and I to see the benefits of holding those coys, same with coys who has no interest in the small shareholders. Nobody is discouraging anybody from doing anything, all we do here is to analyze and in some cases, warn but THE FINAL DECISION IS YOURS

[emmanuel ewumi]

Originally Posted by wanaj0

Maybe we should lock the thread so that we can leave OandO alone.

Or better still only those that have positive things to say about OandO should post.

People forget that some few weeks ago, KOD was thrilled by OandO until they started showing their cards.

For all the importance of this forum, I doubt if we have sizeable funds to MOVE the market. Do we trade billions daily.

For me, you can talk down or talk up any share. At the end of the day, no one knows what you are buying. So let everyone be fully persuaded.

That said, I support anyone buying OandO. I mean Jesus himself learnt obedience by the things which he suffered.

As for me and my house, na Ocean and Oil we want.

For those getting carried away with the noise about upstream, go and research about upstream oil companies and understand the business so that you don't get confused by power point presentations! People need to understand the risk associated with the businesses they are involved in!

Happy investing. The bulls are here hence the NEWCOMERS! The BEARS will soon drive people away lol

Analysts and people who have the billions to move the market, come to this forum everyday. They believe this is forum, where members give analyses of stocks that is devoid of corporate managers' interference.

[faithgonuel]

Originally Posted by hispy99

I fear for all this emotional and sentimental analysis over OANDO....I wonder why folks get antsy when people talk down on stocks. It's their opinion and as much as you would like to believe, SMN is not the stock market. What proportion of trades are by local investors, not to talk of SMN. Why do we thing that once a stock has been "put down" here, the stock will not do well? I have stocks in my portfolio that people have lambasted on this forum, I really appreciate all forms of bashings on stocks I own. Now I know that no matter how much I love NEM, I should be careful of Chief Teluwo. Ultimately, it's up to me to decide whether to be swayed by such outbursts or just stick to my own analysis. At the end of the day, no matter how much we "put down" a stock here, it does not matter in the scheme of things. If you like, say 1 billion bad things about NESTLE, that will not stop people from buying maggi cubes.

Let's just analyse and move on. If the analysis does not "sweet your belle", ignore it and move on. We are all here to make money, at least I am

In light of the above, I recommend the book "Investment Madness" by John Notsinger for all to read.

Happy Imvesting.

[faithgonuel]

Originally Posted by emmanuel ewumi

Analysts and people who have the billions to move the market, come to this forum everyday. They believe this is forum, where members give analyses of stocks that is devoid of corporate managers' interference.

Oga ewumi, I know say you be one of them oooo.....
And no be today I know. It don tey!!!!!

[Ozone]

Originally Posted by kenneth10

That may be true, One needs to be careful, but it may not necessarily apply to everyone who joined in Jan 2013.
I joined this year, and am an Oando shareholder who has totally lost faith in the company (sold my Access bank @ N6.5 to buy) only to discover later after the price took a dive that a lot of things had happened - Profit warning, payoffs for TSA&MSA cancellation, routing part of the payoff back into convertibles, initiating more convertibles, reverse takeover, holding shareholders bound my approvals given years ago, rights issues etc… Series cowboy behaviors.
Their action reminds me of a story I read in on edition of The Economist 2006 which chronicled how Martin and Oliver Bouygues were e able to personally acquire assets of Bouygues S.A. for themselves through a complex series of transactions stretched over years to the detriment of other shareholders. Today they are one of the richest in France.
French corporate governance: Creative construction | The Economist
Possible that’s the model they are following. They must have reasoned that if it could happen in France then it would be a piecemeal here.
I think we should be careful here in Nigeria and Africa at large about these Shenanigans and Robber Barons. They are taught these things in business schools. We saw them in action in the banking sector when as we were contributing money to them via POs and PPs they were laughing at us and were simply shoveling the money into their pockets. They are at work in Oando and in maybe in other companies as we speak.
That’s what capitalism breeds but we are in the modern world and shouldn’t allow them to profiteer.
Going through the earlier posts, it was clear to me that, if I had been following this forum and had all the news and analysis as at the time they were posted here, I would have taken off long ago and maybe would have gotten into greener pastures.
In summary, I joined this year but am totally against what is happening at Oando because there is a flagrant disregard for the rights of the small shareholders as a result of which am sitting on losses and missed oppourtunities.
That label may surely apply to some or most but not to everyone.

Originally Posted by hispy99

I fear for all this emotional and sentimental analysis over OANDO....I wonder why folks get antsy when people talk down on stocks. It's their opinion and as much as you would like to believe, SMN is not the stock market. What proportion of trades are by local investors, not to talk of SMN. Why do we thing that once a stock has been "put down" here, the stock will not do well? I have stocks in my portfolio that people have lambasted on this forum, I really appreciate all forms of bashings on stocks I own. Now I know that no matter how much I love NEM, I should be careful of Chief Teluwo. Ultimately, it's up to me to decide whether to be swayed by such outbursts or just stick to my own analysis. At the end of the day, no matter how much we "put down" a stock here, it does not matter in the scheme of things. If you like, say 1 billion bad things about NESTLE, that will not stop people from buying maggi cubes.

Let's just analyse and move on. If the analysis does not "sweet your belle", ignore it and move on. We are all here to make money, at least I am

Thank you Sir, end of discussion

[nosa2]

Originally Posted by overload

Me I have OANDO shares and I do not intend to run away from them now!

I jave a part of me that still enjoys taking risk..(Although with the profits I made from other stocks) so if the gamble pays off I smile..If it doesnt well notin spoil!

Afreall OANDO's line of business is not bad but then I cannot continue to play safe all the time..Higher risk ..higher returns

There's a big difference between calculated risk, gambling and blind faith

[emmanuel ewumi]

Originally Posted by faithgonuel

Oga ewumi, I know say you be one of them oooo.....
And no be today I know. It don tey!!!!!

I no think say, you really know me. Me wey still dey find money to do a 6 month speculation on some stocks.

[nosa2]

Originally Posted by 1himself

First of all welcome to SMN.... Talking abt d attitude ur getting, its actually something u shld endear urself to and see it as a way of learning.. Nosa neva even grid uoo.

I can link u to d scolds, knocks, lamblast I got frm my first sets of posts... Yet I neva fought or complained.... Now I get kudos from those that blasted me then cos ONLY them has taken me thru d learning stage

So na me you see use take do example of street fighter?! Ok oh

[emmanuel ewumi]

Originally Posted by nosa2

There's a big difference between calculated risk, gambling and blind faith

An investor needs the first two, religious peopl needs blind faith.

Make sure you don't gamble with more than 20% of your net-worth or capital.

[lolobo]

Originally Posted by wanaj0

Maybe we should lock the thread so that we can leave OandO alone.

Or better still only those that have positive things to say about OandO should post.

People forget that some few weeks ago, KOD was thrilled by OandO until they started showing their cards.

For all the importance of this forum, I doubt if we have sizeable funds to MOVE the market. Do we trade billions daily.

For me, you can talk down or talk up any share. At the end of the day, no one knows what you are buying. So let everyone be fully persuaded.

That said, I support anyone buying OandO. I mean Jesus himself learnt obedience by the things which he suffered.

As for me and my house, na Ocean and Oil we want.

For those getting carried away with the noise about upstream, go and research about upstream oil companies and understand the business so that you don't get confused by power point presentations! People need to understand the risk associated with the businesses they are involved in!

Happy investing. The bulls are here hence the NEWCOMERS! The BEARS will soon drive people away lol

There is so much negative sentiments concerning Oando and as much as I have stocks in there and would like to know or hear the "rumours on the street" concerning them, I support shutting down this thread, there are other companies with bright futures we should be looking at than this distraction from Oando.

[lolobo]

Originally Posted by ambitiousr

hello everyone in the room, as all well and said about oando company, i think we should leave oando for now and allow all the interested investors who fall in love with the company to invest into. We can continue to discuss oando after their audited financial reports is out for the year 2012 and see all the manipulation of figure. Let's focus on something else that will be profitable to every members. believe me, oando is a distraction at the moment. for examples, what would you tell someone that invested #15 millions in oando in 2009-2010 and the investment only worth #2.3 millions today? I know the new investors in oando buying at #11, #12, #13... Will surely say a positive things about it? Well the ball is in everybody court, let's play it right. oando should be a resting case for now plz. Just a suggestion!!!

supported!