DEAP Capital: Buy or Not?

[SKO]

Does anyone know how to get a copy of the prospectus for this ongoing offer? It opened last Monday and it's impossible to sight it online.

Any help is much appreciated. Thanks.

[ikechu]

What is the prospect of the offer?paragon and the rest should provide answers please.

[Stockbear]

Anyone interested in DEAP Capital? Do you consider it a good deal? Please share.

Deap Capital set for listing
By OMODELE ADIGUN
Friday, March 23, 2007

As it rolled out more than 377 million shares for public subscription,Deap Capital Management & Trust is set to be the first stockbroking firm to be listed on the Nigerian Stock Exchange(NSE).
http://www.sunnewsonline.com/webpage...3-2007-003.htm

DEAP Capital promises bonus issue
By Goddy Egene
Published: Tuesday, 3 Apr 2007

Investors buying into DEAP Capital Management & Trust Plc through the ongoing hybrid offer should expect a bonus issue in 2008

http://www.punchontheweb.com/Articl....00704031582765.

[Stockbear]

The link takes you to their website where you will find their download links -

http://www.deapcapital.com/

I started a similar thread today, I'll request for it to be merged with this.

[Stockbear]

DEAP Capital declares 800% return on investment (Something Specnomics said in an earlier post regarding profit/earnings increase, makes me wonder exactly what level of profit was really made. Against what data was this comparison/measurement arrived at?).

Are encouraged to invest with them? Does any of the info they have put out encourage you? Why? Please share.

Deap Capital declares 800 per cent return on investment
By Atser Godwin
Published: Monday, 9 Apr 2007

Deap Capital Management and Trust Plc, one of Nigeria’s fund-management companies, has declared 800 per cent return on investment for shareholders in four years.

The Managing Director, Deap, Mr. Emmanuel Ugboh, made the claims at the company’s yearly investors/brokers forum in Lagos on Thursday.

He said that the company’s operations had consistently resulted in profits in the past three years and that during its first six months it broke even.

“The company has paid dividends to shareholders twice in four years. It has also issued bonus shares twice in four years,” he said in a statement on Friday.

The company’s Chairman, Chief Sylvanus Ezendu, said Deap Capital’s excellent performance was due to the commitment demonstrated by its management team, especially in their effort at ensuring that they derived the best and highest yield for investors.

[jesusislord]

I have read the prospectus as posted on DEAP Capital website. Do the forun members and moderatiors believe the earning projections?

[Stockbear]

Deap does look like a good investment. Their proposed profit estimations for the next 3 years, could be somewhat optimistic, but achievable.

If these figures are to be achievable and realistic, it would make sense for DEAP management to explain the N11million loss for 2005, as contained in their prospectus.

How was this loss managed? How was this turned around? There is no indication in their prospectus. If they cannot explain their 2005 loss and its management, how can they make their profit projections for the next 3 years in its absence?

On a different note, here are some on-going concerns/achievements:

* DEAP CAPITAL is currently raising N120 million by way of public offer of subscription for Ellah Lakes Plc. Contact your stock broker /banker to subscribe

* DEAP CAPITAL is currently raising N100 million by way of private placement for Resort Savings & Loans Ltd

* DEAP CAPITAL has just concluded a N75 million structured Finance for SIDMACH GROUP’s e-Registration platform for WAEC

* DEAP CAPITAL is currently involved in a N20 million oil & Gas structured finance for The Initiates Ltd

* DEAP CAPITAL was the Financial Adviser in the just concluded N14.0billion offer for subscription of Intercity Bank Plc

* DEAP CAPITAL is the Lead Financial Adviser in the on-going Unity Bank Plc consolidation involving six banks, namely Intercity bank Plc, First Interstate Bank Plc, Pacific Bank Ltd, Tropical Commercial Plc, Societe Bancaire Nigeria Ltd, and CentrePointBank Plc

* DEAP CAPITAL’s asset base has just hit the one billion naira mark.. After three full years of operation, total assets base closed N1.003billion by August 31st 2005 just as Funds under management grossed over N759million

http://www.deapcapital.com/new.html

[Avocado]

Originally Posted by Stockbear

If these figures are to be achievable and realistic, it would make sense for DEAP management to explain the N11million loss for 2005, as contained in their prospectus.

How was this loss managed? How was this turned around? There is no indication in their prospectus. If they cannot explain their 2005 loss and its management, how can they make their profit projections for the next 3 years in its absence?

Interesting questions. And important too. I've been digging some about DEAP. Insurance in Nigeria looks set to be good investment, but after a private placement last year that I'm yet to hear anything about, one is quite weary.

.

[Stockbear]

The reason I gathered, for the 2005 loss as indicated in their prospectus, is owing to a 60% stake in Resort Savings and Loans Limited (RSL), a mortgage bank in Nigeria.

If this is true then its only a matter of time before the investment hopefully bears fruit.

[Stockbear]

Deap Capital set to surprise?

Vanguard
Deap Capital set to surpass financial forecast ... Offer closes today

By Peter Egwuatu
Wednesday, April 25, 2007

From all ,indications, DEAP Capital Management & Trust Plc is set to surpass the financial forecast for the year ending September 30, 2007, just as the subscription for its public offering will close today.

The unaudited result for 6 months ended March 31, 2007 shows a profit before tax of N118million. This is about 50 per cent of the forecast profit before tax of N227million shown in the offer documents for the on-going hybrid offer of the company which is expected to close on April 25, 2007.

According to the MD/CEO of Deap Capital Management Plc, Mr. Emmanuel Ugboh, from the past trends, the second of the half financial year is always better in terms of returns and it is therefore expected that the forecast will be more than achieved.

http://www.vanguardngr.com/articles/...425042007.html

[Stockbear]

Is there anyone taking up this offer? What are your findings?

The Punch
Deap Capital’s offer extended
By Goddy Egene
Published: Friday, 27 Apr 2007

The hybrid offer of Deap Capital Management & Trust Plc has been extended from April 25 to May 9, 2007. The company is making a Right Issues of115.7million shares of 50k each at N1.50 per share and public offer of 375.3million shares at N2 per share.

Wednesday was supposed to be the closing date for the offers. However, the company’s Managing Director Mr. Emmanuel Uboh, said the Securities and Exchange Commission had approved an extension of the offer due to six working days lost during the last four weeks since the offer opened on Monday, April 19.

The six days were declared public holidays by the Federal Government in respect of the elections and religious celebrations.

As a result, the offer which was billed to close on April 25, 2007 has therefore been extended to close on Wednesday May 9, 2007. All receiving agents are therefore expected to take note of the new closing date and advise their respective clients accordingly.

http://www.punchontheweb.com/Articl....07042623474042

[c kenneths]

The offer sounds interresting, but how competent is this capital manager as compared to more established firms like IBTC, DSCOVERY, CORAL, LEGACY etc.

I have never had the chance of opening their prospectus, will do so today if time permits. Are they bringing anything new to the business. Does anybody know?

[Avocado]

The DEAP Prospectus can be found here

This may or may not mean anything; it may or may not have any bearing on the capability of the managers:

-The Prospectus (pg 9) claims no other share holdre held more than 5% of the fully paid-up ordinary share capital of the company as at sept. 2006
- Falcon Securities Ltd. owns 81m shares (or 17.5% of shares)
- Mr. Ololo owns 24.3m shares (or 5.25% of shares)
Ololo is MD/CEO of Falcon Securities (and should own a large chunk of Falcon Securities ...)

Falcon Securities Link

Has anyone taken a look at the "Incorporation and Share Capital History, Item 1 on page 9 of the Prospectus? What's the meaning of the evolution of the company's share capital?

.

[endyjc]

Please refer to the DEAP CAPITAL IPO held between march/april, 2007 to which i subscribed to. I'd like to investigate the possible reasons informing the delay in its listing on the NSE.
Going by the window between the termination of the issue and the current date, a duration of approximately 4months results.
Are such latencies always associated with the listing of IPO stocks on the NSE or are there some remote reasons behind the delay?
This probably might be interpreted as medicine after death, but just how much potential does the share hold for both short/long term investments?
[Media publication at the time of issue projected the stock in radiant light, transmitting the possibility of a scrip issue at the end of it's 2007 fiscal year ending for investors who partake in the acquistion of its stock]

[Beulah]

Please does any one have any info on what's happening to DEAP Capital. There have not been any info from them after the last IPO.

[jactech]

Did Any One Know What Is Delaying Deap Capital And Management Share Listing? I Hope They Are Not Having Problem With That.i Want To Know,it Is Long Overdue.do You Think The Firm Will Fulfuill Their Promises Vis A Vis Given I For 2 Bonus And Payment Of Dividend For The Year End Dec., 2007.