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  #161 (permalink)  
Old 29th November 2012, 12:08 PM
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Default Re: Glaxo Smithkline

Quote:
Originally Posted by nosa2 View Post
If you really want to develop Nigeria stop buying imported goods, use Glo instead if MTN and for your next holiday go to Obudu rather than Switzerland.
Thought you would support a cassava policy for our telecoms and tourism industries. Insist that either the outbound or inbound call terminates on Glo or someone 'local' operator. Again, only those who have spent their vacation at Obudu, Ikogosi etc would be allowed to travel out. Imagine how much we will save!
Now I know why our foreign reserves is up. Adesina's N250B savings. #PureFiction
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  #162 (permalink)  
Old 29th November 2012, 12:20 PM
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Default Re: Glaxo Smithkline

Quote:
Originally Posted by emmanuel ewumi View Post
They are not forcing shareholders to sell, but foreign investors know how to use the management to increase there holdings. Foreign investors reduced their holdings in Nestle, Cadbury, GSK, Nigerian Breweries, Guinness etc during Abacha's era. These same investors now own between 45% to 60% in these company, through convertible bonds and other investments that were converted to shares. They know it would have been very difficult to increase their holdings through buying of shares on the floor of the stock exchange.
Bros, these multinationals lend their names, reputation, products and processes to their Nigerian businesses. so if they feel they need to own more of it to make it worthwhile then we should let them. If they keep our rules and regulations then they should be able to own as much of their business as they like. Is LearnAfrica better now since Pearson divested from Longman?
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  #163 (permalink)  
Old 29th November 2012, 02:43 PM
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Default Re: Glaxo Smithkline

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Originally Posted by eniyanman View Post
Bros, these multinationals lend their names, reputation, products and processes to their Nigerian businesses. so if they feel they need to own more of it to make it worthwhile then we should let them. If they keep our rules and regulations then they should be able to own as much of their business as they like. Is LearnAfrica better now since Pearson divested from Longman?


You need to ask Pearson why they divested. I think the current arrangement at Learn Africa, is a Management buy out.
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  #164 (permalink)  
Old 29th November 2012, 02:47 PM
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Default Re: Glaxo Smithkline

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Originally Posted by emmanuel ewumi View Post
This announcement does not represent the announcementy of a definitive agreement to proceed with the proposal and accordingly, there can be no certainty that the proposal will proceed. GSK reserves the right not to proceed with the proposal or to vary the terms of the proposal in any way.


This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise. The distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.


Forward looking statements

Investors are cautioned that any forward-looking statements or projections made in this Announcement are subject to risks and uncertainities that may cause actual results to differ materially from those projected.

Can Lawyers in the house tell us the meaning of the bolded portion.
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  #165 (permalink)  
Old 29th November 2012, 02:49 PM
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Default Re: Glaxo Smithkline

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Originally Posted by eniyanman View Post
Bros, these multinationals lend their names, reputation, products and processes to their Nigerian businesses. so if they feel they need to own more of it to make it worthwhile then we should let them. If they keep our rules and regulations then they should be able to own as much of their business as they like. Is LearnAfrica better now since Pearson divested from Longman?

If Nigerians say, they don'y want a dilution of their holdings in the company from 55% to 20% , so be it.
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  #166 (permalink)  
Old 29th November 2012, 02:59 PM
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Default Re: Glaxo Smithkline

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Originally Posted by manemi View Post
Pity..

But this supports my point that there are powerful Nigerians with MTN Nigeria shares who don't care to assist other Nigerians to get them from the floor.
No. I was deluged with barrage of investors willing to sell their MTN shares to Nigerians but they got the cold shoulder all around. Everyone had the opinion that "stock is bad investment". Now they have seen South African buyers and we are crying foul.
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  #167 (permalink)  
Old 29th November 2012, 03:01 PM
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Default Re: Glaxo Smithkline

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Originally Posted by emmanuel ewumi View Post
The Board of Directors unanimously believes that the proposal is in the best interest of the continued growth of the Company, the shareholders, employees, customers, the community and Nigeria. The Board of Directors intends to recommend it ti GSK Nigeria shareholders.

The proposal will be subject to requisite shareholder, Regulatory and Court approvals including those of the Nigerian Stock Exchange, and the Securities and Exchange Commission.

Further development will be communicated to shareholders in due course.

Signed

Company Secretary
November 26, 2012.
Please post the link...
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  #168 (permalink)  
Old 29th November 2012, 03:09 PM
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Default Re: Glaxo Smithkline

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Originally Posted by eniyanman View Post
Thought you would support a cassava policy for our telecoms and tourism industries. Insist that either the outbound or inbound call terminates on Glo or someone 'local' operator. Again, only those who have spent their vacation at Obudu, Ikogosi etc would be allowed to travel out. Imagine how much we will save!
Now I know why our foreign reserves is up. Adesina's N250B savings. #PureFiction
Now you're just being intelligently mischevious, the cassava policy encourages LOCAL PRODUCTION not local ownership, so a man from France can come and own a 10 million Hectare cassava farm if he wants a d he'll still benefit from the policy. This is very different from having xenophobic policies or views.


P.s I dey use sense follow all your posts so I dey ready for all your cunnie man tactics.
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  #169 (permalink)  
Old 29th November 2012, 03:18 PM
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Default Re: Glaxo Smithkline

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Originally Posted by knightofdelta View Post
No. I was deluged with barrage of investors willing to sell their MTN shares to Nigerians but they got the cold shoulder all around. Everyone had the opinion that "stock is bad investment". Now they have seen South African buyers and we are crying foul.
The point, KOD, is that if the company is listed on the NSE big and small investors will be buying and selling every day. But way things are kept now only you big brokers and the few big people you are approaching get to know about it. It is highly opaque and exclusive.
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  #170 (permalink)  
Old 29th November 2012, 04:13 PM
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Default Re: Glaxo Smithkline

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Originally Posted by emmanuel ewumi View Post
Can Lawyers in the house tell us the meaning of the bolded portion.
To change or meddle with the terms of the proposal any way they deem fit.
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  #171 (permalink)  
Old 29th November 2012, 04:20 PM
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Default Re: Glaxo Smithkline

Quote:
Originally Posted by eniyanman View Post
Thought you would support a cassava policy for our telecoms and tourism industries. Insist that either the outbound or inbound call terminates on Glo or someone 'local' operator. Again, only those who have spent their vacation at Obudu, Ikogosi etc would be allowed to travel out. Imagine how much we will save!
Now I know why our foreign reserves is up. Adesina's N250B savings. #PureFiction
Quote:
Originally Posted by nosa2 View Post
Now you're just being intelligently mischevious, the cassava policy encourages LOCAL PRODUCTION not local ownership, so a man from France can come and own a 10 million Hectare cassava farm if he wants a d he'll still benefit from the policy. This is very different from having xenophobic policies or views.


P.s I dey use sense follow all your posts so I dey ready for all your cunnie man tactics.
Cunnie man die, cunnie man bury am

I dey gbadun the two of una, keep languages soft as you're doing now and the entire forum will be better for it. We must show decorum and tolerance for every opposing view.
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  #172 (permalink)  
Old 29th November 2012, 04:43 PM
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Default Re: Glaxo Smithkline

Honestly I am not a fan of local ownership of anything capital. The market place is the leveler. Sell to the highest bidder

This is debatable, whether foreign owned companies benefit the larger society and the economy more than locally owned companies.

I don't want to think too far, I will use the telecom industry we have flogged well on this forum.

1, MTN or Airtel pay more in wages to its employees than Globacom. Total pay more than Capital Oil

2, MTN remits more in PAYE or any form of tax than Globacom.

3, Foreign owned companies are more compliant with local laws than locally owned companies

4, Foreign owned companies have an edge at attracting the required FDI than locally owned companies

5, Foreign owned companies have a lower cost of fund than locally owned companies in the same sector.

6, Corporate governance tenets are stronger in foreign owned companies than locally owned.



The argument of foreign companies repatriating after tax dividend is irrelevant really, if there are new profitable investments, they will reinvest.
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  #173 (permalink)  
Old 29th November 2012, 05:02 PM
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Default Re: Glaxo Smithkline

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Originally Posted by emmanuel ewumi View Post
I don't think they can get the addition 35% shares from Nigerians on the floor of the exchange, they will finally create instruments that will enable them increase their holdings to 80%
Who owns the company? Nigerians (by virtue of the 55% shareholding). Who decides if the company can issue convertible bonds. Nigerians. So if Nigerians allow issuance of a sterling convertible bond to pass, who is at fault? Nigerians.
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  #174 (permalink)  
Old 29th November 2012, 05:04 PM
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Default Re: Glaxo Smithkline

Quote:
Originally Posted by afolabi27 View Post
Honestly I am not a fan of local ownership of anything capital. The market place is the leveler. Sell to the highest bidder

This is debatable, whether foreign owned companies benefit the larger society and the economy more than locally owned companies.

I don't want to think too far, I will use the telecom industry we have flogged well on this forum.

1, MTN or Airtel pay more in wages to its employees than Globacom. Total pay more than Capital Oil

2, MTN remits more in PAYE or any form of tax than Globacom.

3, Foreign owned companies are more compliant with local laws than locally owned companies

4, Foreign owned companies have an edge at attracting the required FDI than locally owned companies

5, Foreign owned companies have a lower cost of fund than locally owned companies in the same sector.

6, Corporate governance tenets are stronger in foreign owned companies than locally owned.



The argument of foreign companies repatriating after tax dividend is irrelevant really, if there are new profitable investments, they will reinvest.
you have a good point expecially number 6
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  #175 (permalink)  
Old 29th November 2012, 05:05 PM
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Default Re: Glaxo Smithkline

Quote:
Originally Posted by emmanuel ewumi View Post
The Board of Directors unanimously believes that the proposal is in the best interest of the continued growth of the Company, the shareholders, employees, customers, the community and Nigeria. The Board of Directors intends to recommend it ti GSK Nigeria shareholders.

The proposal will be subject to requisite shareholder, Regulatory and Court approvals including those of the Nigerian Stock Exchange, and the Securities and Exchange Commission.

Further development will be communicated to shareholders in due course.

Signed

Company Secretary
November 26, 2012.
End of Discussion. If we like, sell to them. Don't come and complain afterwards.
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  #176 (permalink)  
Old 29th November 2012, 05:18 PM
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Default Re: Glaxo Smithkline

I really enjoyed the presentations so far. Both arguments are credible but all the same, we should all clamour for more reforms to make Nigerian business environment more friendly to both foreigners and domestic operators. There should be good incentives to encourage more companies to seek quotation while same will discourage delisting.The earlier our leaders make Nigeria a tax haven or very close the better. That is what is driving the Dubai economy. All forms of control are reppresive and costly in this era of globalisation.
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  #177 (permalink)  
Old 29th November 2012, 05:43 PM
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Default Re: Glaxo Smithkline

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Originally Posted by afolabi27 View Post
Cunnie man die, cunnie man bury am

I dey gbadun the two of una, keep languages soft as you're doing now and the entire forum will be better for it. We must show decorum and tolerance for every opposing view.
If I dream say I insult oga Eni I go wake up come apologize, me know say na very intelligent bros but e get unexplainable quanta with this govt and e be like say DAM do am strong tin.
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  #178 (permalink)  
Old 29th November 2012, 05:48 PM
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Default Re: Glaxo Smithkline

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Originally Posted by lukbayo View Post
I really enjoyed the presentations so far. Both arguments are credible but all the same, we should all clamour for more reforms to make Nigerian business environment more friendly to both foreigners and domestic operators. There should be good incentives to encourage more companies to seek quotation while same will discourage delisting.The earlier our leaders make Nigeria a tax haven or very close the better. That is what is driving the Dubai economy. All forms of control are reppresive and costly in this era of globalisation.
We're too big to a tax haven.
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  #179 (permalink)  
Old 29th November 2012, 05:59 PM
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Default Re: Glaxo Smithkline

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Originally Posted by nosa2 View Post
We're too big to a tax haven.
I think maybe what he meant was we need to have a simplified low tax rate, maybe like the Irish? Although I think our problems are greater tha lower tax rates.
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  #180 (permalink)  
Old 29th November 2012, 06:03 PM
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Default Re: Glaxo Smithkline

Quote:
Originally Posted by nosa2 View Post
If I dream say I insult oga Eni I go wake up come apologize, me know say na very intelligent bros but e get unexplainable quanta with this govt and e be like say DAM do am strong tin.
may be DAM refuse to give am im daughter
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