Engineering Technology

[davis]

I am a new member in this forum and I need somebody to pls tell me if wire and cable plc. under the Engineering tceh. session is a stock to buy into, and yes, what is there prospect. I will also appreciate if I can no there past AGM date. Thanks

[davis]

Pls I need urgent reply

[Avocado]

Davis: welcome on board!

Do you have some data on the company you're asking about? What's your aim? Are you looking to make some money in the short-term, or do you want in on the compaany for the long haul? For people to assist you, you'd need to do some (re)search.

Cheers.

[davis]

Thanks Avocado, My reason for asking is that I have little investment on it presently, and am intending adding more if I can get more info. about them.

[Avocado]

That means you have a cut in the company; when did you buy the stocks you own, or if you bought in at a different number of times, when and at how much? Someone else could check the data for you, but, you're the "principla" since you made the investment, you should have some information on the stock. I'll suppose you've been gathering important information on the stock. Except one is a wizard, you won't get quality advice without some data or without some useful information from the inside; as you know that the latter may be illegal, the thing to do is to look at indicators. You could start by asking your stockbroker (if you have one), and, you could be the expert in the house on this particular stock; I don't have any of it, but I'll be interested in taking a look at what's been happening with it.

.

[Avocado]

News item from The Guardian 09May2007. 24-hr link!

What do you think? Is anyone saying the market is rational? A classic case of a difference in outlook: a Fundamentalist probably wouldn't be touching this company except there's something positive waiting to happen; a Technician would have made some money on the upward trend; but isn't it surprising that people're buying stocks in a company that's been inactive for 12 months? Where some see doom, some see opportunity. Yet, I think this caution is somewhat curious.

Shareholders caution investors on Nigerian Wire and Cable shares
By Gbenga Agbana
AS the bulls continued its run in the equities sector of the Nigerian Stock Exchange, investors have been advised to watch how they invest in the company as it is now in liquidation.

Specifically, the Chairman Audit Committee of the company, Chief Aderemi Oyepeju told journalists that the company has been placed under receivership by Wema Bank and Union Bank for owing the banks about N200 million.

According to him, the company's share price has risen alongside other companies' prices this year, which is totally out of tune with what should be obtainable since the company is no longer producing and would not give any return on investment to its shareholders.

Quoted in engineering technology sub-sector on the Nigerian Stock Exchange, the company has not paid dividend since 2002 when it paid 15 kobo per shares, and the last bonus issue was done in 1998. Earnings per share as at yesterday stood at 10.10 while per earnings ratio stood at 48.50.

So far this year, the company's share price has risen from a low 70 kobo to N5.10 before it fell to N4.85. It closed on bid yesterday, and the last day business that was done on the stock was May 7, 2007 when 351,475 units changed hands.

Oyepeju who is also the Vice-Chairman of Ibadan zone shareholders association, covering all the states in the South West, noted that the Nigerian Stock Exchange would be informed about the development immediately to save investors from enormously putting their money in a moribund company.

Oyepeju said: "The company has been under lock and key since 12 months ago. Wema Bank and Union Bank have placed the company under receivership and there is now what is called caveat Emptor, buyers beware, on the company."

He continued: "The Managing Director said he has resigned. What we are doing is in the interest of investor and national interest."

On whether shareholders have informed the Stock Exchange and the Securities and Exchange Commission (SEC), about what is going on in the company, Oyepeju said: "We have not been able to reach the stock exchange but we will write to them to inform them.

"The share price is rising and the stock is suppose to be on suspension because of the state of the company. I wish the company should come to the capital market to raise funds to repay its loans and kick-start its operations.

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[davis]

Thank you very much Avocado I am really very greatful. Please I will want you to also advice me on how to peak stocks so that I will not fall a victim of what would have happened to me in the case of Nig. wire and cable of not for your quick intervention. ie I will like you to tell me how know a companies past records. Pls do help, sorry for taking your time. Anybody can alos contribute.

[Avocado]

Davis: you're welcome.

First, you didn't answer any of my questions. (I don't think they're personal, eh). I asked for when you bought the stocks and at what price(s) ; with those, no one can compute how much you spent or how much you have .

Now, see: the stock thing isn't magic; the best anyone could do it to look at the signs; the signs may be numbers or some news or some development in relation to the stock. We could exchange information and knowledge; discussion helps in doing that. If we could analyse why we made the decisions we make, we may be able to learn a few lessons. If you decide to answer the two questions above, you could also tell why you bought those shares at that time. Those are details that'll help anyone else give an opinion.

Cheers.