Chams Nigeria Plc - Page 3

riskreturn · #41 (**permalink**) 8th January 2008, 03:12 PM

Quote:

Originally Posted by richestowealth

Sorry folks. My UBA contact ( read brokers) told me that CHAMS ended yesterday.

Can this be "April Fool" joke? The placement, according to the Memorandum, started yesterday and is supposed to end on 13 February. How could it have ended the same yesterday? Or what did you mean by "that CHAMS ended yesterday"?

richestowealth · #42 (**permalink**) 8th January 2008, 03:34 PM

Quote:

Originally Posted by riskreturn

Can this be "April Fool" joke? The placement, according to the Memorandum, started yesterday and is supposed to end on 13 February. How could it have ended the same yesterday? Or what did you mean by "that CHAMS ended yesterday"?

Apparently Private Placements are not obligated to honor those dates like public offers. It's private and the workings are based on their own discretion.

riskreturn · #43 (**permalink**) 8th January 2008, 04:22 PM

Quote:

Originally Posted by richestowealth

Apparently Private Placements are not obligated to honor those dates like public offers. It's private and the workings are based on their own discretion.

I would like to use this medium to appeal to others who have contacts with UBA Global Markets Ltd to corroborate or do otherwise the above claim of Richestowealth through independent verification with the lead issuing house (i.e., UBA Global Markets).

andico26 · #44 (**permalink**) 8th January 2008, 04:35 PM

it is not true. I am in touch with both the md mr demola aladekomo and mr kazeem deputy md. I also got a soft copy of the memo pp on the 3rd of jan but i was on leave. the chams pp is still on . For a sure bet send your forms with attached prospectus to attn: Mr Demola aladekomo......... or Mr Kazeem....... Chams Nigeria Limited.......
Great Buy!!! with a Pe of 3 nothing can be better!
Listing date May

andico26 · #45 (**permalink**) 8th January 2008, 04:38 PM

it is not true. I am in touch with both the md mr demola aladekomo and mr kazeem deputy md. I also got a soft copy of the memo pp on the 3rd of jan but i was on leave. the chams pp is still on . For a sure bet send your forms with attached bank draft or crossed chq to attn: Mr Demola aladekomo......... or Mr Kazeem....... Chams Nigeria Limited.......
Great Buy!!! with a Pe of 3 nothing can be better!
Listing date May

pumping · #46 (**permalink**) 8th January 2008, 05:15 PM

Quote:

Originally Posted by andico26

it is not true. I am in touch with both the md mr demola aladekomo and mr kazeem deputy md. I also got a soft copy of the memo pp on the 3rd of jan but i was on leave. the chams pp is still on . For a sure bet send your forms with attached bank draft or crossed chq to attn: Mr Demola aladekomo......... or Mr Kazeem....... Chams Nigeria Limited.......
Great Buy!!! with a Pe of 3 nothing can be better!
Listing date May

Correct!!! Don't let anyone fool you. It is not "officially" closed. Some brokers just want to corner everything for themselves. I was able to secure mine today.

Babs_O · #47 (**permalink**) 8th January 2008, 05:45 PM

Quote:

Originally Posted by pumping

Correct!!! Don't let anyone fool you. It is not "officially" closed. Some brokers just want to corner everything for themselves. I was able to secure mine today.

Pumping how did you secure your getting on board. I have been pestering one of the Lady Managers in the UBA branch near me. She has not yet succeeded with her contacts. Perhaps your reply could help me out.

ikpong · #48 (**permalink**) 8th January 2008, 05:50 PM

The closing date on the prospectus is Feb.13, 2008. The pp is listed as officially opening on Jan. 7, 2008.

Ikpong

pumping · #49 (**permalink**) 8th January 2008, 06:06 PM

Quote:

Originally Posted by ikpong

The closing date on the prospectus is Feb.13, 2008. The pp is listed as officially opening on Jan. 7, 2008.

Ikpong

Yes, it is what the prospectus says but the brokers are cornering this. Remember the issuing houses have allocations. Once this is exhausted, end of story. PPs are not bound to keep to their closing dates.

pumping · #50 (**permalink**) 8th January 2008, 06:09 PM

Quote:

Originally Posted by Babs_O

Pumping how did you secure your getting on board. I have been pestering one of the Lady Managers in the UBA branch near me. She has not yet succeeded with her contacts. Perhaps your reply could help me out.

Try your contacts at the other issuing housings. UBA Global is the lead arranger and they seem to be under more pressure of over-subscription.

Sorry I can't help you personally. My contact is not releasing any more units through me.

Avocado · #51 (**permalink**) 8th January 2008, 06:48 PM

Quote:

Originally Posted by riskreturn

... While I am not a lawyer, I am of a "layman" view that the above is an emphasis apparently worded to meet the requirement of the Company & Allied Matters law forbidding non-PLC companies (including Chams Ltd) from inviting members of public to subscribe for their shares. Other PP Memorandums too must contain equivalent provisions (probably, with less emphasis) to protect issuers from infringing the law. Except for the emphasis in the present situation, I would rather opine that there is little reason for concern.
.

You're, in fact, correct. Every PP must contain the expression or words to the same effect as a matter of legality. A PP is distinguished form a public offering by the capacity to make invitations to the public. The 'letter of invitation' clause is useful because the law says that "invitation to the public" includes publishing, advertising, and disseminating information; the line is blurred; but the expression is effective in (temporarily) solving it.

Cheers.

BigSeun · #52 (**permalink**) 9th January 2008, 04:20 AM

Have anyone seen the 2006 financial statement of chams, it was not signed off by the auditors and directors of the company.
The company also declared a bonus of 4:1, i have gone thru the profit and loss account for 2006 and did not see where an appropriation was done for this. How is the bonus going to be financed? I hope not thru the revaluation reserve ( ILLEGAL)
Investors should really have a second look into the prospectus before making a move.

Abinishio · #53 (**permalink**) 9th January 2008, 04:36 AM

Hello,
Please what is the landing?
Is the PP closed or still open?
Is the Issuing hse already doing allotment now, since people are talking of issuing hse giving allocations.
I'm confused?
I tot the offer is open till close date on propectus?
Please advise?

Apache · #54 (**permalink**) 9th January 2008, 11:33 AM

http://www.punchng.com/Articl.aspx?t...20080109126315

Babs_O · #55 (**permalink**) 9th January 2008, 04:07 PM

Quote:

Originally Posted by pumping

Try your contacts at the other issuing housings. UBA Global is the lead arranger and they seem to be under more pressure of over-subscription.

Sorry I can't help you personally. My contact is not releasing any more units through me.

Thanks. I am exploring that option. Santrust said I should call back.

Ladi Jay · #56 (**permalink**) 9th January 2008, 05:14 PM

Quote:

Originally Posted by Babs_O

Thanks. I am exploring that option. Santrust said I should call back.

I went to UBA Global Mkt and i was told to come on Friday 11/1/08. Hope they u are not playing pranks as a member on this forum said the offer had closed.

I will go to San Trust to get more info . surely i'll get u posted.

We must hit this goldmine whether they liked it or not.

See u then.