Dematerialize Your Certificates Now

[madeonline]

e-Transactions: (Nigerian Stock Market) Regulators Insist on January 2009The regulators of the nation’s capital market have insisted on the January 2009 deadline for the adoption of electronic transactions in the market. The Securities and Exchange Commission (SEC) and Nigerian Stock exchange (NSE) had given January 2009 for the take off of e-transactions in the market. This includes dematerialization of share certificates and introduction of e-offerings and allotments. Thisday Newspapers 20081008 pg29

(By implication, certificates would no longer be dealt in within the Nigerian Capital market in the coming year. It is adviseable for investors to take their share certificates to your stockbroker for processing before Jan. 2009. )

[olusolakemmy]

Originally Posted by madeonline

e-Transactions: (Nigerian Stock Market) Regulators Insist on January 2009The regulators of the nation’s capital market have insisted on the January 2009 deadline for the adoption of electronic transactions in the market. The Securities and Exchange Commission (SEC) and Nigerian Stock exchange (NSE) had given January 2009 for the take off of e-transactions in the market. This includes dematerialization of share certificates and introduction of e-offerings and allotments. Thisday Newspapers 20081008 pg29

(By implication, certificates would no longer be dealt in within the Nigerian Capital market in the coming year. It is adviseable for investors to take your share certificates to your stockbroker for processing before Jan. 2009. For more details contact:madeonline@gmail.com, 08056259633)

am not sure your phone number and email is necessary as most guys already have their stockbroker.

what happen to those that would not have received their share certificate by jan 09 or those guys outside the country at the moment and wont return before jan 09?

what i think the implication will be is that, from ja 09, all new offering PO, IPO and what have you will be done electronicaly, registrars will still be available to people with share certificate issued before the deadline

or what do u think?

[pesadilla]

Originally Posted by olusolakemmy

am not sure your phone number and email is necessary as most guys already have their stockbroker.

what happen to those that would not have received their share certificate by jan 09 or those guys outside the country at the moment and wont return before jan 09?

what i think the implication will be is that, from ja 09, all new offering PO, IPO and what have you will be done electronicaly, registrars will still be available to people with share certificate issued before the deadline
or what do u think?

i agree with kemmy intoto on the high lighted part.

@madeonline
do you mean if i dont verify my certs b/4 the dateline,i will no longer be a shareholder of a coy i bought into?

[Onwuka Iroabuchi, S]

Originally Posted by madeonline

e-Transactions: (Nigerian Stock Market) Regulators Insist on January 2009The regulators of the nation’s capital market have insisted on the January 2009 deadline for the adoption of electronic transactions in the market. The Securities and Exchange Commission (SEC) and Nigerian Stock exchange (NSE) had given January 2009 for the take off of e-transactions in the market. This includes dematerialization of share certificates and introduction of e-offerings and allotments. Thisday Newspapers 20081008 pg29

(By implication, certificates would no longer be dealt in within the Nigerian Capital market in the coming year. It is adviseable for investors to take your share certificates to your stockbroker for processing before Jan. 2009. For more details contact:madeonline@gmail.com, 08056259633)

I hope this is retroactive...and there is no bi line here. What date is given for any assumption of the papers/certificate because people are filling useful court proceedings against disingenius companies as we speak. E transaction ought to be advertised using Korea's Model. Valoe

[hispy99]

Originally Posted by olusolakemmy

am not sure your phone number and email is necessary as most guys already have their stockbroker.

what happen to those that would not have received their share certificate by jan 09 or those guys outside the country at the moment and wont return before jan 09?

what i think the implication will be is that, from ja 09, all new offering PO, IPO and what have you will be done electronicaly, registrars will still be available to people with share certificate issued before the deadline

or what do u think?

I hope this is the case....I still have pending certificates that I have not received from the PO (Access Bank, DFL, AIICO) and I don't see how I can dematerialize before the end of this year. So what happens to my shares after Dec 2008?

[olusolakemmy]

Originally Posted by hispy99

I hope this is the case....I still have pending certificates that I have not received from the PO (Access Bank, DFL, AIICO) and I don't see how I can dematerialize before the end of this year. So what happens to my shares after Dec 2008?

thats why i said it,i equaly have some certificate yet to reach me.
but considering what our regulators are capableof doing, it is not impossible that they will do it.

may be we jusst need to scout for information abt the atter

[dannynoko]

Originally Posted by pesadilla

i agree with kemmy intoto on the high lighted part.

@madeonline
do you mean if i dont verify my certs b/4 the dateline,i will no longer be a shareholder of a coy i bought into?

Who is madeonline? Are you are a broker? I think something is missing here and I believe with Kemmy that this is not retrospective , but rather prospective and would apply to new issues, bonuses etc going forward come jan 09.

If that is the case, what will happen to some of us with 3-5 certificates awaiting Bankers Confirmation that is not possible to be obtained before that Jan 09? SO my certs are now worthless?. What I know is that this type of law apply to the future and does not affect past dealings!

[mosbe]

I quite agree with pesadilla on the issue of dematerialization of certificate. Come to think of it there are Millions (If not Billions) of investors fund that is unaccessible due to non receipt of share certificate (I just got my Union bank's certifiacate for it's 2005 public offer), Non-verification of certificate by registrars,.....This is not a good omen for the market. I'm in total support of the electronical allotment of shares, Apart from the fact that it is very prompt and convenient, It is also economical too. I did not have to take myself through the hassles of share verification on oceanic's last bonus share as it was credited directly to my cscs account and a notification mail send to clarify the actual amount credited. Hence i would prefer electronical allotment over physical certificates.

[olusolakemmy]

Originally Posted by mosbe

I quite agree with pesadilla on the issue of dematerialization of certificate. Come to think of it there are Millions (If not Billions) of investors fund that is unaccessible due to non receipt of share certificate (I just got my Union bank's certifiacate for it's 2005 public offer), Non-verification of certificate by registrars,.....This is not a good omen for the market. I'm in total support of the electronical allotment of shares, Apart from the fact that it is very prompt and convenient, It is also economical too. I did not have to take myself through the hassles of share verification on oceanic's last bonus share as it was credited directly to my cscs account and a notification mail send to clarify the actual amount credited. Hence i would prefer electronical allotment over physical certificates.

like i said the only placed i have heard/read the news is SMN thru madeonline!

no other sources ahs it, so please if such thng will happen, it will be made popular, now i dont want to think of it, even if i did not get my shares cert verified before the deadline, the companies cant deny me, isnt it? that is if the plan is even in place at all

[madeonline]

Originally Posted by pesadilla

i agree with kemmy intoto on the high lighted part.

@madeonline
do you mean if i dont verify my certs b/4 the dateline,i will no longer be a shareholder of a coy i bought into?

If your certificates is not verified before then you would STILL BE A SHAREHOLDER, the only challenge is that verification of certs would take the back seat as the industry embrace e-allotments

[olusolakemmy]

Originally Posted by madeonline

If your certificates is not verified before then you would STILL BE A SHAREHOLDER, the only challenge is that verification of certs would take the back seat as the industry embrace e-allotments

but it will still be possible? hmm?

if yes great and from your response to the question, i guess your answer is yes and thats great

anyway, if i get my cert before then i will send it to my registrar chap chap