Valueline Securities PP

[princed]

Very unfortunate. What can you do???????? The said letter was never posted to any one. what happen is that if you protest to their office, they tell you about the letter and round it up with you can collect your money back. I asked them the question and the response is that no one has endorse and returned the letter either accepting nor rejecting.

But the surprising thing is that they have played on Nigerians and taken advantage of a lawlessness economy to swindle what rightfully belong to us in the .5vs1 naira offer. it means we cannot get our full entittlement and they are ready to give you your money at their own convinient time (maybe next year) while those that refuse to collect their money back would have generousely donated (wittingly) exact half of their investment to the director.

God help us if they ever give a bonus/div in the future.

In summary, these guys are not trust worthy. Partnership gave a bonus and they also kept their promise. they are all on the same plateform.

Let us rise and defend our hard earned investment. Let us demand for our full right. Let us demand for a N1.00 share and refuse throwing away 0.5 value of our money.

I think we are now the shareholders??? Abi.

[Michael]

Originally Posted by BLUEMONEY

Valuecapital has 8 billion ordinary shares and I was told that there was no return money so Logically it means that the 4 billion shares @ N1 each as been splitted.

If anybody has Received the ''LETTER'' kindly tell us the content. I have been trying to call the Director I spoke with but the line is not going through because I will like to hear from him directly before I know what to do.

I have bought countless PP @ N1 per value and never been given half of what I paid for so this will not be different. It is Either I am given exactly what I paid for, or return my money in full.

The letter simply explained the restructuring of the offer, with a place to accept or reject the certificate swap. It listed Valueline Securities as one of 5 subsidaries of Value Capital. Two of the Subsidiaries have just started operation, One is still being registered while Valueline Finance and Hytech Mortgage have been operational.
2007 Audited PAT of value Cap was 900M, while Q1 Unaudited PAT is 500M.

That is the summary of the letter.

[Michael]

Originally Posted by princed

Very unfortunate. What can you do???????? The said letter was never posted to any one. what happen is that if you protest to their office, they tell you about the letter and round it up with you can collect your money back. I asked them the question and the response is that no one has endorse and returned the letter either accepting nor rejecting.

But the surprising thing is that they have played on Nigerians and taken advantage of a lawlessness economy to swindle what rightfully belong to us in the .5vs1 naira offer. it means we cannot get our full entittlement and they are ready to give you your money at their own convinient time (maybe next year) while those that refuse to collect their money back would have generousely donated (wittingly) exact half of their investment to the director.

God help us if they ever give a bonus/div in the future.

In summary, these guys are not trust worthy. Partnership gave a bonus and they also kept their promise. they are all on the same plateform.

Let us rise and defend our hard earned investment. Let us demand for our full right. Let us demand for a N1.00 share and refuse throwing away 0.5 value of our money.

I think we are now the shareholders??? Abi.

Though Private placements are outside the Juristiction of the SEC, they should not be outside that of the Investment and Securities Tribunal and the EFCC. Giving us back Our money is not good enough, they need to give us our complete shares. Nothing stops us from Holding The shares of Valueline Securities as described in the offer at N1.00 each irrespective of it being listed. And we though Bankers were Desperate.

[muranay@yahoo.com]

Originally Posted by Michael

Though Private placements are outside the Juristiction of the SEC, they should not be outside that of the Investment and Securities Tribunal and the EFCC. Giving us back Our money is not good enough, they need to give us our complete shares. Nothing stops us from Holding The shares of Valueline Securities as described in the offer at N1.00 each irrespective of it being listed. And we though Bankers were Desperate.

I think we need to call for a meeting of stakeholders so as to be able send a delegate to convey our feeling about the issue to the MD or CHAIRMAN of the company.

If they then fail to listen and reason with us we can then write a petition or complain to appropriate quarters for redress.

[BLUEMONEY]

Originally Posted by Michael

The letter simply explained the restructuring of the offer, with a place to accept or reject the certificate swap. It listed Valueline Securities as one of 5 subsidaries of Value Capital. Two of the Subsidiaries have just started operation, One is still being registered while Valueline Finance and Hytech Mortgage have been operational.
2007 Audited PAT of value Cap was 900M, while Q1 Unaudited PAT is 500M.

That is the summary of the letter.

Thank you for stating the highlights of the Letter. Meanwhile, I have called the Director I spoke with before and he was trying to deny and at thesame time defend thier actions so we came to the conclusion that my full money will be retuned.

I have also called my people I told about the PP to collect thier money because this is pure 419 and it is unacceptable.

[Dragon123]

Originally Posted by BLUEMONEY

Thank you for stating the highlights of the Letter. Meanwhile, I have called the Director I spoke with before and he was trying to deny and at thesame time defend thier actions so we came to the conclusion that my full money will be retuned.

I have also called my people I told about the PP to collect thier money because this is pure 419 and it is unacceptable.

Collecting our money back may not be the best as a lot more uninformed people will still have been swindled by this 419capital. I want to appeal to those members of this house who are well informed of the appropriate authority to report this matter, to please do so. And can you believe that the ED of this organization is a Pastor! I am a new comer into this stock thing, but since I started I kept having this feeling of having the ill luck of entering a Lagos one-chance molue. God dey.

[Michael]

Originally Posted by BLUEMONEY

Thank you for stating the highlights of the Letter. Meanwhile, I have called the Director I spoke with before and he was trying to deny and at thesame time defend thier actions so we came to the conclusion that my full money will be retuned.

I have also called my people I told about the PP to collect thier money because this is pure 419 and it is unacceptable.

How soon will you get your money and what are the procedures.

[pegheneji]

Originally Posted by Michael

How soon will you get your money and what are the procedures.

It is very sad for that dis tin is happening. I did not partake in the offer and so i have nit being going through the tread. geting back the money is a huge loss because, it is a complete case of deciet and fraud. a letter attaching the certificate and the value page of the pp should be attached to EFCC and IST and claim damages. The point is not rearly what u will gain now but other will surely do the same thing if they go unpunish. Stocks are bought on some premise and permutations if they think they will use the letter as alabi, let us embarass them at with EFCC and IST.

[fowologba]

This is a clear case of fraud. I dont mind to collect my money back if that is the only way i can show my greivance. We should all rise against this unjust to serve as deterrent to others. It is only in this country that things like this happen. I am sure that if we can pull our weight together, our collective actions will make an impact. We should not allow them to go with this one.

[waaan5]

Originally Posted by fowologba

This is a clear case of fraud. I dont mind to collect my money back if that is the only way i can show my greivance. We should all rise against this unjust to serve as deterrent to others. It is only in this country that things like this happen. I am sure that if we can pull our weight together, our collective actions will make an impact. We should not allow them to go with this one.

This is sad indeed. I did not do the PP because I knew one of the promoters of the company as a very sharp (read unethical) man. He used to juggle figures when we crossed path. So when I saw their projections, I knew this guy has not repented, but I did not know they would be this brazen. Why should people settle for 'full return' of money. What about the opportunity cost of the money they left with this company for months? SHould people not seek legal redress again? Must we content with going to EFCC and ISC (though this is a good start). What this situation begs for is akin to a class action suit. And five or more victms of this scam can institute that.

[BLUEMONEY]

Originally Posted by Dragon123

Collecting our money back may not be the best as a lot more uninformed people will still have been swindled by this 419capital. I want to appeal to those members of this house who are well informed of the appropriate authority to report this matter, to please do so. And can you believe that the ED of this organization is a Pastor! I am a new comer into this stock thing, but since I started I kept having this feeling of having the ill luck of entering a Lagos one-chance molue. God dey.

Going to the Appropriate Authority sounds very good but I simply dont have faith in Them. The best they can do is to tell both parties to settle out of court.

[faoogoke]

Originally Posted by BLUEMONEY

Going to the Appropriate Authority sounds very good but I simply dont have faith in Them. The best they can do is to tell both parties to settle out of court.

My heart goes out to all the friend that brought into this pp. What Valueline has done is a reflection of the anarchy we are in as a nation i.e we live in and operate in a state of anarchy! Total lawlessness!. Someone said that if the Police was doing it's work there is no need for EFCC and ICPC.
While I would agree that a protest be made to the regulatory authorities (Please try your luck), don't put all your hope on them.
Best of luck.

[BLUEMONEY]

Originally Posted by Michael

How soon will you get your money and what are the procedures.

I have sent my Young brother that also took part in the PP to thier office in P.H were I bought the PP to collect the form I am supposed to fill and fax it to me. So hopefully by next week friday, My Full money will be ready.

Meanwhile, I called my contact in Cashcraft and he Assured me that they can still Smuggle my cash into the Personal Trust PP that closed last month. The PP seems Expensive but I dont want my money sitting in the Bank

[Michael]

Originally Posted by BLUEMONEY

I have sent my Young brother that also took part in the PP to thier office in P.H were I bought the PP to collect the form I am supposed to fill and fax it to me. So hopefully by next week friday, My Full money will be ready.

Meanwhile, I called my contact in Cashcraft and he Assured me that they can still Smuggle my cash into the Personal Trust PP that closed last month. The PP seems Expensive but I dont want my money sitting in the Bank

With the number of PP's and PO's coming to the market these days. I would rather leave Cash in My current account doing nothing. Who knows when something nice may come around.

[BLUEMONEY]

Originally Posted by faoogoke

My heart goes out to all the friend that brought into this pp. What Valueline has done is a reflection of the anarchy we are in as a nation i.e we live in and operate in a state of anarchy! Total lawlessness!. Someone said that if the Police was doing it's work there is no need for EFCC and ICPC.
While I would agree that a protest be made to the regulatory authorities (Please try your luck), don't put all your hope on them.
Best of luck.

Due to the Total Lawlessness that Exists even in High Places, I have decided not to waste my Precious time and Resources on these Guys. Come to think of it, these guys may have placed thier own Illegal Legal Machine in place waiting for Trouble and I wont buy that Bait.

Between 2006 and 2007 I bought more than six Insurance PP @ N1 per value and there was no Issue with the Splitting or Allotment so if Valuecapital thinks this is good coperate governance, then I wish them what they wish themselve.

I am too busy to waist my time and money on the weak Nigerian legal system.