Go Back   StockMarketNigeria.com Forums > Nigerian Stocks > Petroleum, Gas & Oil Stocks > Oando

Oando Discuss Oando shares

Welcome to the StockMarketNigeria.com Forums.
If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

View Poll Results: IF YOU ARE IN AMBITIOUSR SHOES WHAT WILL YOU DO?
PART WITH THE 50K 4 21.05%
ADMIT YOU WERE WRONG AND APOLOGIZE 11 57.89%
REMAIN DEFIANT 4 21.05%
Voters: 19. You may not vote on this poll

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #9781 (permalink)  
Old 4th April 2017, 03:35 AM
nosa2's Avatar
Rank: Senior Member
Points: 53,096, Level: 100
Points: 53,096, Level: 100 Points: 53,096, Level: 100 Points: 53,096, Level: 100
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Oct 2008
Location: Lagos
Posts: 7,026
Thanks: 600
Thanked 313 Times in 272 Posts
Groans: 58
Groaned at 11 Times in 11 Posts
Blog Entries: 6
Rep Power: 16
nosa2 is on a distinguished road
Send a message via Yahoo to nosa2 Send a message via Skype™ to nosa2
Default Re: oando

Quote:
Originally Posted by aysok1 View Post
Loss for the year from continuing operations (25,806,484)

Discontinued operations
Profit/(loss) after tax for the year from discontinued operations 26 29,300,521

Profit/(loss) for the year 3,494,037.

Didn't you see the auditor note that raised concern about the company surviving? The so called profit came from tax credits. The only bright spot in the business is the gas arm and knowing how these guys operate I won't be surprised if they spin off the gas arm in some hard to understand transaction that will screw shareholders of whatever they have left
__________________
visit www.globalnigerian.com for my thoughts and recommendations

Last edited by nosa2; 4th April 2017 at 07:56 AM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9782 (permalink)  
Old 4th April 2017, 11:20 AM
chudinho's Avatar
Rank: Senior Member
Points: 7,182, Level: 56
Points: 7,182, Level: 56 Points: 7,182, Level: 56 Points: 7,182, Level: 56
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Dec 2009
Posts: 532
Thanks: 19
Thanked 58 Times in 39 Posts
Groans: 0
Groaned at 4 Times in 4 Posts
Rep Power: 8
chudinho is on a distinguished road
Default Re: oando

Quote:
Originally Posted by nosa2 View Post
Didn't you see the auditor note that raised concern about the company surviving? The so called profit came from tax credits. The only bright spot in the business is the gas arm and knowing how these guys operate I won't be surprised if they spin off the gas arm in some hard to understand transaction that will screw shareholders of whatever they have left
Oando gaining maximum 5% this morning? Does it mean that people don't read audited result. Well I have offloaded 70% of my holdings this morning to willing parties. The Auditors note gave me a lot of concern when I read to that point yesterday and it was based on it I made a decision to sell.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9783 (permalink)  
Old 4th April 2017, 12:36 PM
Sean12010's Avatar
Rank: Senior Member
Points: 2,854, Level: 32
Points: 2,854, Level: 32 Points: 2,854, Level: 32 Points: 2,854, Level: 32
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2014
Posts: 184
Thanks: 6
Thanked 3 Times in 3 Posts
Groans: 1
Groaned at 0 Times in 0 Posts
Rep Power: 0
Sean12010 is on a distinguished road
Default Re: oando

Quote:
Originally Posted by chudinho View Post
Oando gaining maximum 5% this morning? Does it mean that people don't read audited result. Well I have offloaded 70% of my holdings this morning to willing parties. The Auditors note gave me a lot of concern when I read to that point yesterday and it was based on it I made a decision to sell.
Oando didn't go under at $20 pb...bros should I arrange for my brokers to take the remaining 30% of you?
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9784 (permalink)  
Old 4th April 2017, 02:38 PM
nosa2's Avatar
Rank: Senior Member
Points: 53,096, Level: 100
Points: 53,096, Level: 100 Points: 53,096, Level: 100 Points: 53,096, Level: 100
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Oct 2008
Location: Lagos
Posts: 7,026
Thanks: 600
Thanked 313 Times in 272 Posts
Groans: 58
Groaned at 11 Times in 11 Posts
Blog Entries: 6
Rep Power: 16
nosa2 is on a distinguished road
Send a message via Yahoo to nosa2 Send a message via Skype™ to nosa2
Default Re: oando

Quote:
Originally Posted by chudinho View Post
Oando gaining maximum 5% this morning? Does it mean that people don't read audited result. Well I have offloaded 70% of my holdings this morning to willing parties. The Auditors note gave me a lot of concern when I read to that point yesterday and it was based on it I made a decision to sell.
Quote:
Originally Posted by Sean12010 View Post
Oando didn't go under at $20 pb...bros should I arrange for my brokers to take the remaining 30% of you?
Lets have a look at the result shall we,

Exploration
2015: N1.4b
2016: -N37b

Marketing
2015: -N6b
2016: -N6b

Supply and trading
2015: N4.6b
2016: N432m

Gas and Power
2015: N8.5b
2016: N6.8b

Energy Services
2015: -N17b
2016: -N1.1b

Corporate and other
2015: -N42b
2016: N4b

NOTE: All numbers are pre tax

Now in 2016 they sold off majority stakes in Gas and power, energy services and marketing.

People buying right now are buying only exploration, supply and trading as well as a less than half stake in other entities.
The small profit you saw in corporate most likely came from proceeds of sale.


OANDO needs to either get oil price to rise dramatically or THEY WILL BE BANKRUPT IN A YEAR
__________________
visit www.globalnigerian.com for my thoughts and recommendations

Last edited by nosa2; 4th April 2017 at 02:49 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9785 (permalink)  
Old 4th April 2017, 07:07 PM
aysok1's Avatar
Rank: Senior Member
Points: 8,561, Level: 62
Points: 8,561, Level: 62 Points: 8,561, Level: 62 Points: 8,561, Level: 62
Activity: 3%
Activity: 3% Activity: 3% Activity: 3%
 
Join Date: Jun 2008
Location: MD
Posts: 751
Thanks: 154
Thanked 20 Times in 16 Posts
Groans: 1
Groaned at 1 Time in 1 Post
Rep Power: 10
aysok1 is on a distinguished road
Default Re: oando

Quote:
Originally Posted by nosa2 View Post
Didn't you see the auditor note that raised concern about the company surviving? The so called profit came from tax credits. The only bright spot in the business is the gas arm and knowing how these guys operate I won't be surprised if they spin off the gas arm in some hard to understand transaction that will screw shareholders of whatever they have left
I didn't get that far with the report. I read a few pages to know how the company is faring. I am more intrested in Oando paying back it's loan to our banks. That is where my interest lies.

Alot of retail investors don't read most of these reports. They ask 2 questions; did they make profit and did they declare dividend.

I believe the savy retail investors are just doing JIJO(spreculative trading) with Oando. No sane person with understanding of the industry and the person of WT will invest for the medium/long term in Oando.

The Audacity company, Oando, has sent some retail inestors to early grave. I hope to be around for a long time.


For goodness sake oil price was stable ($40-55) in 2016 and it made loss from continued operations. It was bailed out(so called profit) from, sales of business(discontinued operations).

Last edited by aysok1; 4th April 2017 at 07:21 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9786 (permalink)  
Old 4th April 2017, 07:18 PM
aysok1's Avatar
Rank: Senior Member
Points: 8,561, Level: 62
Points: 8,561, Level: 62 Points: 8,561, Level: 62 Points: 8,561, Level: 62
Activity: 3%
Activity: 3% Activity: 3% Activity: 3%
 
Join Date: Jun 2008
Location: MD
Posts: 751
Thanks: 154
Thanked 20 Times in 16 Posts
Groans: 1
Groaned at 1 Time in 1 Post
Rep Power: 10
aysok1 is on a distinguished road
Default Re: oando

Quote:
Originally Posted by Sean12010 View Post
Oando didn't go under at $20 pb...bros should I arrange for my brokers to take the remaining 30% of you?
My brother :

1). 40% of banks NPL is tied to Oil and Gas companies.

2) First Bank has 20+ % NPL, as at 2016Q3.

3)GTbank's result is poor cos of exposure to Oil & Gas co.

Note that Gtb capitalised its FX gain in its profit, otherwise it was terrible compared to 2015FY

Oando seats Audaciously, with a few others, in creating those NPL in bank books.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9787 (permalink)  
Old 4th April 2017, 11:16 PM
duduspace's Avatar
Rank: Senior Member
Points: 23,725, Level: 94
Points: 23,725, Level: 94 Points: 23,725, Level: 94 Points: 23,725, Level: 94
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2007
Posts: 6,237
Thanks: 75
Thanked 351 Times in 270 Posts
Groans: 2
Groaned at 4 Times in 4 Posts
Rep Power: 17
duduspace is on a distinguished road
Default Re: oando

Quote:
Originally Posted by aysok1 View Post
I didn't get that far with the report. I read a few pages to know how the company is faring. I am more intrested in Oando paying back it's loan to our banks. That is where my interest lies.

Alot of retail investors don't read most of these reports. They ask 2 questions; did they make profit and did they declare dividend.

I believe the savy retail investors are just doing JIJO(spreculative trading) with Oando. No sane person with understanding of the industry and the person of WT will invest for the medium/long term in Oando.

The Audacity company, Oando, has sent some retail inestors to early grave. I hope to be around for a long time.


For goodness sake oil price was stable ($40-55) in 2016 and it made loss from continued operations. It was bailed out(so called profit) from, sales of business(discontinued operations).
Let's try not to make the issue about persons. I don't think there are many companies in the Upstream Oil and Gas sector that are doing well at present. People have been 'questioning' Oando since before the Afren debacle and most observers never had anything bad to say about Afren until it went under, I remember it actually being put forward on this same forum as an epitome of everything good that Oando supposedly wasnt. Also, it should be noted that even the Mighty Seplat wobbled this year. I however agree that this is a time to be wary of investing in O&G companies like Oando.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9788 (permalink)  
Old 5th April 2017, 01:51 AM
nosa2's Avatar
Rank: Senior Member
Points: 53,096, Level: 100
Points: 53,096, Level: 100 Points: 53,096, Level: 100 Points: 53,096, Level: 100
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Oct 2008
Location: Lagos
Posts: 7,026
Thanks: 600
Thanked 313 Times in 272 Posts
Groans: 58
Groaned at 11 Times in 11 Posts
Blog Entries: 6
Rep Power: 16
nosa2 is on a distinguished road
Send a message via Yahoo to nosa2 Send a message via Skype™ to nosa2
Default Re: oando

Quote:
Originally Posted by duduspace View Post
Let's try not to make the issue about persons. I don't think there are many companies in the Upstream Oil and Gas sector that are doing well at present. People have been 'questioning' Oando since before the Afren debacle and most observers never had anything bad to say about Afren until it went under, I remember it actually being put forward on this same forum as an epitome of everything good that Oando supposedly wasnt. Also, it should be noted that even the Mighty Seplat wobbled this year. I however agree that this is a time to be wary of investing in O&G companies like Oando.
Upstream businesses have been hit by low oil price however oando needs to be singled out because oando had a viable downstream business, the Gas business was great and the retail arm was doing well. Oando had no business going upstream. They once mooted the idea of going mid stream by setting up a refinery and that would have been a brilliant move. The fixation on upstream was unwarranted and should be called out.
__________________
visit www.globalnigerian.com for my thoughts and recommendations
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9789 (permalink)  
Old 5th April 2017, 02:33 PM
duduspace's Avatar
Rank: Senior Member
Points: 23,725, Level: 94
Points: 23,725, Level: 94 Points: 23,725, Level: 94 Points: 23,725, Level: 94
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2007
Posts: 6,237
Thanks: 75
Thanked 351 Times in 270 Posts
Groans: 2
Groaned at 4 Times in 4 Posts
Rep Power: 17
duduspace is on a distinguished road
Default Re: oando

Quote:
Originally Posted by nosa2 View Post
Upstream businesses have been hit by low oil price however oando needs to be singled out because oando had a viable downstream business, the Gas business was great and the retail arm was doing well. Oando had no business going upstream. They once mooted the idea of going mid stream by setting up a refinery and that would have been a brilliant move. The fixation on upstream was unwarranted and should be called out.
Fair point, I guess even if those who came up with the Upstream idea can go back in time, they would probably take different decisions. I guess they could have done with some of your foresight instead of opting for 'Ise kekere, owo nla' that is now biting them in the butt. I admire their ambition though. Nothing ventured nothing gained.
I wonder how their Q4 and Q1 17 was after the easing of ND problem and the small rebound in prices in December.

Last edited by duduspace; 5th April 2017 at 02:35 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9790 (permalink)  
Old 5th April 2017, 03:42 PM
wanaj0's Avatar
Rank: Senior Member
Points: 21,440, Level: 92
Points: 21,440, Level: 92 Points: 21,440, Level: 92 Points: 21,440, Level: 92
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Apr 2007
Posts: 4,834
Thanks: 4
Thanked 380 Times in 286 Posts
Groans: 1
Groaned at 1 Time in 1 Post
Rep Power: 17
wanaj0 has a spectacular aura aboutwanaj0 has a spectacular aura aboutwanaj0 has a spectacular aura about
Default Re: oando

Quote:
Originally Posted by duduspace View Post
Let's try not to make the issue about persons. I don't think there are many companies in the Upstream Oil and Gas sector that are doing well at present. People have been 'questioning' Oando since before the Afren debacle and most observers never had anything bad to say about Afren until it went under, I remember it actually being put forward on this same forum as an epitome of everything good that Oando supposedly wasnt. Also, it should be noted that even the Mighty Seplat wobbled this year. I however agree that this is a time to be wary of investing in O&G companies like Oando.
You have to make it about the people running OandO. All oil companies are affected by low oil price but the problem with OandO is much more than that. Even when the oil price was high, performance was not encouraging because of the people. It was obvious that the decisions will create problem from them. They've now sold off the cash generating assets.

AFREN you made reference to was also because of the PEOPLE. Managers who were lining their pockets and taking decisions to their advantage instead of to the advantage of the company.

SEPLAT even though affected by the shutdown of Forcados is managed by people who seems to have an idea of what they are doing. They have grown their gas business significantly. They have established alternative evacuation route.

In summary, SEPLAT as at today is a 'better' managed company than OandO.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9791 (permalink)  
Old 8th April 2017, 05:06 AM
aysok1's Avatar
Rank: Senior Member
Points: 8,561, Level: 62
Points: 8,561, Level: 62 Points: 8,561, Level: 62 Points: 8,561, Level: 62
Activity: 3%
Activity: 3% Activity: 3% Activity: 3%
 
Join Date: Jun 2008
Location: MD
Posts: 751
Thanks: 154
Thanked 20 Times in 16 Posts
Groans: 1
Groaned at 1 Time in 1 Post
Rep Power: 10
aysok1 is on a distinguished road
Default Re: oando

Quote:
Originally Posted by duduspace View Post
Let's try not to make the issue about persons. I don't think there are many companies in the Upstream Oil and Gas sector that are doing well at present. People have been 'questioning' Oando since before the Afren debacle and most observers never had anything bad to say about Afren until it went under, I remember it actually being put forward on this same forum as an epitome of everything good that Oando supposedly wasnt. Also, it should be noted that even the Mighty Seplat wobbled this year. I however agree that this is a time to be wary of investing in O&G companies like Oando.
I think WT's case should be treated in isolation. You'll agree with me that resullt is terrible, just like others. But the irony is that the market was exited and it went on full bid, why?

You read through that result and saw the facts behind the figures but the market only saw the ficticious profit and sent the stock on bid.

5 years+, Oando has not come out clean to it's shareholders on the facts behind its business. It has manipulated the market with carefully crafted falsehood on the true position of its operations.

There are cowboys on the NSE and the Nigerian business enviroment but Oando towers above all by miles(my opinion).
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9792 (permalink)  
Old 10th April 2017, 12:39 PM
nosa2's Avatar
Rank: Senior Member
Points: 53,096, Level: 100
Points: 53,096, Level: 100 Points: 53,096, Level: 100 Points: 53,096, Level: 100
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Oct 2008
Location: Lagos
Posts: 7,026
Thanks: 600
Thanked 313 Times in 272 Posts
Groans: 58
Groaned at 11 Times in 11 Posts
Blog Entries: 6
Rep Power: 16
nosa2 is on a distinguished road
Send a message via Yahoo to nosa2 Send a message via Skype™ to nosa2
Default Re: oando

Quote:
Originally Posted by aysok1 View Post
I think WT's case should be treated in isolation. You'll agree with me that resullt is terrible, just like others. But the irony is that the market was exited and it went on full bid, why?

You read through that result and saw the facts behind the figures but the market only saw the ficticious profit and sent the stock on bid.

5 years+, Oando has not come out clean to it's shareholders on the facts behind its business. It has manipulated the market with carefully crafted falsehood on the true position of its operations.

There are cowboys on the NSE and the Nigerian business enviroment but Oando towers above all by miles(my opinion).
They are plain old crooks and they have managed to fool a lot of supposedly intelligent people
__________________
visit www.globalnigerian.com for my thoughts and recommendations
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9793 (permalink)  
Old 10th April 2017, 07:58 PM
duduspace's Avatar
Rank: Senior Member
Points: 23,725, Level: 94
Points: 23,725, Level: 94 Points: 23,725, Level: 94 Points: 23,725, Level: 94
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2007
Posts: 6,237
Thanks: 75
Thanked 351 Times in 270 Posts
Groans: 2
Groaned at 4 Times in 4 Posts
Rep Power: 17
duduspace is on a distinguished road
Default Re: oando

Quote:
Originally Posted by nosa2 View Post
They are plain old crooks and they have managed to fool a lot of supposedly intelligent people
Including themselves ?
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9794 (permalink)  
Old 10th April 2017, 07:58 PM
duduspace's Avatar
Rank: Senior Member
Points: 23,725, Level: 94
Points: 23,725, Level: 94 Points: 23,725, Level: 94 Points: 23,725, Level: 94
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2007
Posts: 6,237
Thanks: 75
Thanked 351 Times in 270 Posts
Groans: 2
Groaned at 4 Times in 4 Posts
Rep Power: 17
duduspace is on a distinguished road
Default Re: oando

Quote:
Originally Posted by nosa2 View Post
They are plain old crooks and they have managed to fool a lot of supposedly intelligent people
Including themselves ?
I am sure they are very happy everytime they take a look at their stock price with their almost over 50% holdings.

Last edited by duduspace; 10th April 2017 at 08:01 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9795 (permalink)  
Old 10th April 2017, 09:44 PM
nosa2's Avatar
Rank: Senior Member
Points: 53,096, Level: 100
Points: 53,096, Level: 100 Points: 53,096, Level: 100 Points: 53,096, Level: 100
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Oct 2008
Location: Lagos
Posts: 7,026
Thanks: 600
Thanked 313 Times in 272 Posts
Groans: 58
Groaned at 11 Times in 11 Posts
Blog Entries: 6
Rep Power: 16
nosa2 is on a distinguished road
Send a message via Yahoo to nosa2 Send a message via Skype™ to nosa2
Default Re: oando

Quote:
Originally Posted by duduspace View Post
Including themselves ?
Quote:
Originally Posted by duduspace View Post
Including themselves ?
I am sure they are very happy everytime they take a look at their stock price with their almost over 50% holdings.
You think Ocean and Oil investors have lost any money?
__________________
visit www.globalnigerian.com for my thoughts and recommendations
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9796 (permalink)  
Old 11th April 2017, 12:58 PM
duduspace's Avatar
Rank: Senior Member
Points: 23,725, Level: 94
Points: 23,725, Level: 94 Points: 23,725, Level: 94 Points: 23,725, Level: 94
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2007
Posts: 6,237
Thanks: 75
Thanked 351 Times in 270 Posts
Groans: 2
Groaned at 4 Times in 4 Posts
Rep Power: 17
duduspace is on a distinguished road
Default Re: oando

Quote:
Originally Posted by nosa2 View Post
You think Ocean and Oil investors have lost any money?
Not exactly, they havent lost until they've sold their holdings or the company has gone bust. It is however a fact that they take a larger share of anything that happens to the company's share price and company assets being sold off to the likes of Helios at this point in time impacts them as much as any other imvestor in Oando at this present point in time and if the company does go bust finally, then they would lose a lot.
How much exactly they would have lost out of their total worth if the company goes bust, I cant quantify nor can I quantify how much they have been alleged to steal or have actually stolen in reality between the time they were minority owner/managers with their dodgy consultancy fees and now that they directly or indirectly own about half of the company.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9797 (permalink)  
Old 11th April 2017, 02:42 PM
migiets's Avatar
Rank: Senior Member
Points: 27,487, Level: 98
Points: 27,487, Level: 98 Points: 27,487, Level: 98 Points: 27,487, Level: 98
Activity: 3%
Activity: 3% Activity: 3% Activity: 3%
 
Join Date: Mar 2008
Posts: 8,361
Thanks: 209
Thanked 319 Times in 282 Posts
Groans: 0
Groaned at 11 Times in 11 Posts
Rep Power: 18
migiets is on a distinguished road
Default Re: oando

Quote:
Originally Posted by duduspace View Post
Not exactly, they havent lost until they've sold their holdings or the company has gone bust. It is however a fact that they take a larger share of anything that happens to the company's share price and company assets being sold off to the likes of Helios at this point in time impacts them as much as any other imvestor in Oando at this present point in time and if the company does go bust finally, then they would lose a lot.
How much exactly they would have lost out of their total worth if the company goes bust, I cant quantify nor can I quantify how much they have been alleged to steal or have actually stolen in reality between the time they were minority owner/managers with their dodgy consultancy fees and now that they directly or indirectly own about half of the company.
Are you sure they have not since recovered their loss through their consultancy fees?.
__________________
If you don't have ambition, you shouldn't be alive - Aliko Dangote.

Want things to change fast ? ..... put all politicians at all levels on minimum wage.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9798 (permalink)  
Old 11th April 2017, 03:32 PM
duduspace's Avatar
Rank: Senior Member
Points: 23,725, Level: 94
Points: 23,725, Level: 94 Points: 23,725, Level: 94 Points: 23,725, Level: 94
Activity: 1%
Activity: 1% Activity: 1% Activity: 1%
 
Join Date: Feb 2007
Posts: 6,237
Thanks: 75
Thanked 351 Times in 270 Posts
Groans: 2
Groaned at 4 Times in 4 Posts
Rep Power: 17
duduspace is on a distinguished road
Default Re: oando

Quote:
Originally Posted by migiets View Post
Are you sure they have not since recovered their loss through their consultancy fees?.
Those dodgy consultancy fees and management contracts went out the window when they took majority shareholding in the company, at least I haven't been seeing any since about 2014 or thereabouts when the shareholding structure started changing massively. I guess there was no point in stealing from themselves. The problem they have now is not internal stealing or manipulation although some might say they used the money they stole to effectively take over the company, their problem now is that they went into the upstream venture right about the time oil prices collapsed. Some would call it 'Poetic Justice' if not that other minority shareholders are suffering too and probably even worse as they do not have the financial buffers the principals of OandO Holdings have.

Last edited by duduspace; 11th April 2017 at 03:35 PM.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9799 (permalink)  
Old 11th April 2017, 07:47 PM
nosa2's Avatar
Rank: Senior Member
Points: 53,096, Level: 100
Points: 53,096, Level: 100 Points: 53,096, Level: 100 Points: 53,096, Level: 100
Activity: 0%
Activity: 0% Activity: 0% Activity: 0%
 
Join Date: Oct 2008
Location: Lagos
Posts: 7,026
Thanks: 600
Thanked 313 Times in 272 Posts
Groans: 58
Groaned at 11 Times in 11 Posts
Blog Entries: 6
Rep Power: 16
nosa2 is on a distinguished road
Send a message via Yahoo to nosa2 Send a message via Skype™ to nosa2
Default Re: oando

Quote:
Originally Posted by duduspace View Post
Those dodgy consultancy fees and management contracts went out the window when they took majority shareholding in the company, at least I haven't been seeing any since about 2014 or thereabouts when the shareholding structure started changing massively. I guess there was no point in stealing from themselves. The problem they have now is not internal stealing or manipulation although some might say they used the money they stole to effectively take over the company, their problem now is that they went into the upstream venture right about the time oil prices collapsed. Some would call it 'Poetic Justice' if not that other minority shareholders are suffering too and probably even worse as they do not have the financial buffers the principals of OandO Holdings have.
I am willing to bet that if someone looks into the asset stripping deals, there would either be insider dealings or some sort of exorbitant consultancy charges.
__________________
visit www.globalnigerian.com for my thoughts and recommendations
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #9800 (permalink)  
Old 12th April 2017, 08:36 AM
migiets's Avatar
Rank: Senior Member
Points: 27,487, Level: 98
Points: 27,487, Level: 98 Points: 27,487, Level: 98 Points: 27,487, Level: 98
Activity: 3%
Activity: 3% Activity: 3% Activity: 3%
 
Join Date: Mar 2008
Posts: 8,361
Thanks: 209
Thanked 319 Times in 282 Posts
Groans: 0
Groaned at 11 Times in 11 Posts
Rep Power: 18
migiets is on a distinguished road
Default Re: oando

Quote:
Originally Posted by nosa2 View Post
I am willing to bet that if someone looks into the asset stripping deals, there would either be insider dealings or some sort of exorbitant consultancy charges.
Before nko?. Iam even sure some phoney companies owned by them were even used to buy the stripped assets. Iam sure very soon, they will pop the price and then do a rights issue and people will pick up the rights issues.
__________________
If you don't have ambition, you shouldn't be alive - Aliko Dangote.

Want things to change fast ? ..... put all politicians at all levels on minimum wage.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply

« - | - »

Similar Threads
Thread Thread Starter Forum Replies Last Post
Oando opts for equity-swap to accommodate shareholders anekwlc Other Stocks & Investment strategies 2 10th June 2007 04:32 PM


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT +1. The time now is 01:41 PM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.3.0
StockMarketNigeria.comAd Management plugin by RedTyger
no new posts

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37