Dunlop

[Bayuze]

Does anyone have any details or gist as regards this offer? I have tried to do some research but no luck.

DVCF Oil & Gas Fund?
Does anyone know about this Fund? Pls Help!

[paragon]

hi there,
the Dunlop offer will open by the end of this week. the company is offering for subscription,1.5 billion shares at N2.50 per share and a rights issue of 1 for 1 at N2.30 per share. It is a good buy considering the fact that the present share price is N 4.16. Also, the company is the number one in Nigeria in it's sector so do not hesitate. Their debt profile is also good, so there's a lot of room for profitability.

Hope you are okay.

As regards the DVCf fund, they just concluded a public offer but if you still need details i'll be glad to give you some.

[prof]

Please does anybody know what dividend payout and bonus issues has been for Dunlop over the years especially the last 5 years?

[tunery]

well i dont know but one must be careful abt maunfacturing coys esp considering the way and manner their stock are valued

[kay-kay]

Anybody know where I find the soft/electronic copy for the Dunlop Public Offer?

[prof]

Dear Kay-kay
Check their website at www.dunlopng.com you can download all you need from there - the application form and full prospectus. Enjoy!

[isabi]

The prospectus released by Dunlop on their finacials seems to be silent on some important issues.

I wanted to see where they were coming from and not just where they want to be.

Previous dividend pay-out seems to be missing, can anybody tell me what the paid out the previous years?

[chikejane]

Isabi

My advice is to forget where Dunlop is coming from. Specifically, there last dividend was in 2001. Their annual performance since 2003 have posted losses. If you still choose to depress yourself, checkout their five year financials on www.dunlopng.com

BUT underneath this sad news are the hidden potentials:
1. The ASRT project is now completed. It will boost production significantly. The real market is in truck tyres and not saloon cars where importation thrives. Dunlop will have competitive edge in truck tyres from 2007.

2. This capital inflow from shares will offset the bank facilities taken for the ASRT project & save the interest expense.

3. Change in management: Yinusa is a performer. He turned around DN Meyer

4. If you can't do the long run (ie 1yr and above). You can take advantage of the current pricing. The market price is N4.16 so you can buy at N2.50 and exit in the short run. It happened to May & Baker but let's hope they won't play a fast one and delay the share certificate until the price adjusts to eliminate short-term gain.

I think it is a good 1yr (minimum) investment but the DECISION is still yours. This forum is to keep us better informed and i look forward to all of us sharing knowledge and ideas this 2007. Above all, i want to make real money this year from investments in our capital market. So, i need the help of everyone in this forum.

Cheers!!

[tzar]

@ chikejane, I agree, I agree, I agree. Ur analysis of dunlop is sound. For those that think dat dy can venture into riskier territory(given d dunlop books for 4 yrs) Dunlop Po is d way.
In addition, there is no fear of delays in certificates, Dunlop will post it by the 31st of March. It's in their prospectus. unfortunately dy wont pay dividend until 2008, Nonetheless, there are huge prospects 4 capital growth.
The current market niche dat dy r focusing on will guarantee good cash flow dat wil bring profitability. most times where a company is going is more important dn where it is coming 4rm wn making investment decisions. I hv bot some shares and keeping my fingwers crosed to optimize capital growth.
CIAO

[joyagba]

As regards the DVCf fund, they just concluded a public offer but if you still need details i'll be glad to give you some.[/quote]

Please, paragon can you proceed to give more details about DVCF Oil and Gas fund investment. As you can see from the post on the forum some member are interested just like me to know more about it- wether it is advisable to invest in it or not and how profitable the investment is.

Please be kind enough to reply

Thank you

[bwalaman]

Monday morning QB... Paragon's projection turned out right- ya.
Dunlop hit 7 naira today (19/02/07). But the other good news for Dunlop is that Michelin is closing!!!

As for DV,
"Deap Venture Capital Fund (DVCF) oil and gas recorded a profit before tax of about N26 million a paid up capital of N117 million and a business turnover of over half a billion naira in its first year of operation"

I would gently stake a position in anything that has GAS in it (not so much the oil, part)....

By the way, bought into both at IPO and pleased. Dunlop is short to mid while DV is Mid-long hold.

[Stockbear]

All those who bought Dunlop are laughing all the way to the bank! I can't think of one person I spoke with that okayed Dunlop, including brokers.

Is it that we don't have analysists who see beyond their nose? My inlaw and his broker, and others on many forums both gave dunlop a no, no.

[ghm]

I missed out greatly myself on this offer and I have not recovered as such. I don't know what happened to me, I do not even give it a second look because Dunlop is never on my watch list but it turned out otherwise,...

Yes that's belong to the past. Is it still profitable if I buy now? How far do we think DUNlop will go?

I am waiting for your responses...

[paragon]

hi all, i\m quite happy that my prediction on Dunlop turned out right. I've said it time without number that we have mom-professional professionals in Nigeria. People do not want to take risk and they loose out on profits to bue made. Well you will be right to say I'm a good consultanat.

Thankyou all for been active on this site. Peace............

[bwalaman]

...said, you are a good Consultant- we should thank you.

[Stockbear]

Dunlop is still looking good. I didn't know the public offer was actually over subscribed.

The Punch
Offer: Dunlop moves to absorb excess money
By Goddy Egene
Published: Tuesday, 3 Apr 2007

Dunlop Nigeria Plc is making moves to absorb the oversubscription that arose from its recent hybrid offer.

http://www.punchontheweb.com/Articl....00704031574143

[Stockbear]

Good move!

The Punch
Shareholders approve increase in Dunlops share capital
By Goddy Egene
Published: Monday, 9 Apr 2007

Shareholders of Dunlop Nigeria Plc have approved an increase in the companys authorised share capital from N1.5bn to N2.7bn to absorb the excess money from the public offer.

Following the oversubscription in the 1.5bn shares for public offering at N2.50 per share, the directors asked the shareholders to increase the share capital. The shareholders unanimously gave their approval to the request at an extraordinary general meeting in Lagos on Wednesday.

They also authorised the directors to exercise all powers of the company to issue and allot shares to subscribers of the public offer in any acceptable manner it deemed fit.

Besides, the directors were authorised to take all steps necessary to obtain consent of the Securities and Exchange Commission, the Nigerian Stock Exchange and any other regulatory body, to allot additional shares in any number over the number of shares offered for subscription by the company in the offer, subject to the authorised share capital of the company.

http://www.punchontheweb.com/Articl....00704082224729

[Stockbear]

BusinessDay
Thursday 12 April 2007

Culled from page 30

According to BusinessDay, A representative of (ISAN) Independent Shareholders Association of Nigeria, opined that Dounlop's move to absorb the extra cash from its oversubscription should be handled with care.

He "cautioned that while it was okay to absorb the additional funds, the board should be aware of the additional responsibility of servicing the enlarged share capital, which was raised to accommodate the extra funds".

Akintude Asalu, president of Nigerian Shareholders Solidarity Association (NSSA) blames the Dunlop board for the move to absorb the extra cash. He believes this was owing to the board undervaluing the company (they didn't correctly assess the worth of the company before setting the offer value at N2.50). He is hopeful that next time around they would get it right.

However what Akintude seemed to have forgotten, is that the price was set based on the market opinion, which was at that point in time, that of low confidence in Dunlop for not paying any dividends for years. Thankfully, another shareholder gave this balanced opinion.