African Alliance

[henry_bonds@yahoo.co.uk]

Originally Posted by pegheneji

Univasal insurance aquired AA 100% and Mr Cyrul Agagu MD of Uni is now the chairman of AA. they are currently carrying out pp an hope to be listed soon and do an IPO. the share holders Fund is in about 2.5b and hope to raise it to 10b. it will run as a separate coy.

pls see finanacial starndard of April 21 2008 4 details

AA plans to raise N10B which means they intend to add atleast 5 Billion Authorised and issued shares. You must not forget that this is PP and it is not regulated like IPO where coys are only allowed to absord not more than 25%. Nothing stops AA absorbing N40N and then issue 20B shares thereby throwing up the possibility of share reconstruction in the future.

Please people. think before you jump. at N2/share you might end up paying N8/share after reconstruction--- Remember Intl Energy Ins?

[Abinishio]

Originally Posted by henry_bonds@yahoo.co.uk

AA plans to raise N10B which means they intend to add atleast 5 Billion Authorised and issued shares. You must not forget that this is PP and it is not regulated like IPO where coys are only allowed to absord not more than 25%. Nothing stops AA absorbing N40N and then issue 20B shares thereby throwing up the possibility of share reconstruction in the future.

Please people. think before you jump. at N2/share you might end up paying N8/share after reconstruction--- Remember Intl Energy Ins?

Thanks for your comments.
Me personnaly think this PP is too expensive.
My money won't be found ere.
Univ Ins, is still a blind coy trying to find stability & now they are leading another company.
This just tells me they will both end up falling in the gutters.

"Caveat emptor"

[BLUEMONEY]

Originally Posted by Abinishio

Thanks for your comments.
Me personnaly think this PP is too expensive.
My money won't be found ere.
Univ Ins, is still a blind coy trying to find stability & now they are leading another company.
This just tells me they will both end up falling in the gutters.

"Caveat emptor"

once again you are right.

[mascot2008]

any good peeny stock in a good insurance company

[BLUEMONEY]

Originally Posted by mascot2008

any good peeny stock in a good insurance company

Mr Mascot2008, you are welcome to the forum. but unfortunately, you are on the wrong thread. this thread is for Private Placement Only. your Question should be directed to the insurance thread were it will be dealt with. once again you are welcome CHEERS.

[efasela]

Originally Posted by mascot2008

any good peeny stock in a good insurance company

Mr Mascot2008,Bluemoney is right!

Find the thread for insurance companies on this forum and you will be

blessed.However,just to be a brother in needTry Standard Alliance.

Cheers,you are welcome.

[retire_at_28]

Pls Did Anyone Buy This Aa Private Placement And At What Price Is It Going For?if You Have The Prospectus,pls Kindly Upload It Here.

[hispy99]

African Alliance experiences turnaround following acquisition

Guardian Newspapers

[waaan5]

Originally Posted by hispy99

African Alliance experiences turnaround following acquisition

Guardian Newspapers

This is the classic PR at work. Where are the figures to show the effect of the turn around? I think maybe the pp is still ongoing and the news is meant as facilitation. My advise for those who may be interested on this one is to instead buy Universal Ins (the parent co.) at the floor, for N2 something, and you would not have to worry about, allotment, listing date, cert de-materialization etc. For me though, there is a long pole between me and whatever Mr. Ajagu (MD universal ins) is involved in.

[BLUEMONEY]

Originally Posted by waaan5

This is the classic PR at work. Where are the figures to show the effect of the turn around? I think maybe the pp is still ongoing and the news is meant as facilitation. My advise for those who may be interested on this one is to instead buy Universal Ins (the parent co.) at the floor, for N2 something, and you would not have to worry about, allotment, listing date, cert de-materialization etc. For me though, there is a long pole between me and whatever Mr. Ajagu (MD universal ins) is involved in.

you are right. when we begin to see some positive figures from both companies then the publication will make sense.
i dont think buying universal insurance @ 2 naira + is good becuase there is still room downward.

[efasela]

Originally Posted by BLUEMONEY

you are right. when we begin to see some positive figures from both companies then the publication will make sense.
i dont think buying universal insurance @ 2 naira + is good becuase there is still room downward.

Yeah! Apart from that,I hear they have a large no of outstanding shares.Perharps,reconstruction might be in the making

[waaan5]

Originally Posted by efasela

Yeah! Apart from that,I hear they have a large no of outstanding shares.Perharps,reconstruction might be in the making

You guys are right! Actually, I was not recommending Universal Ins for anything. The mention of N2 + something was to show the high PP cost of AA at N2. If you ask me, the intrinsic value of Universal Ins is far less than what it is in the mrt now. I am waiting for small bull run to dispose mine at a decent profit. Infact like I said earler, I no longer trust the Universal Ins management so will not partake in any venture they promote.

[hispy99]

African Alliance yet to list on Exchange
Posted Friday, September 12, 2008

PETER OBIORA

Proshare NI

September 11, 2008 at 20:49 GMT



African Alliance Insurance Company Limited, (AA) which has been acquired 100 percent by The Universal Insurance Company Limited (UNISURE) is yet to list its shares within the stipulated four weeks it promised from June 2008.



Chris Akaigwe, Head, Investment & Portfolio of UNISURE had earlier affirmed to Proshare NI in Lagos Nigeria that the company would list its shares in about four weeks.



“We planned that the company would be listed in the same way we listed UNISURE” Akaigwe affirmed.



As earlier reported by Proshare NI, Akaigwe had confirmed that African Alliance had already divested part of its holdings as a listing criterion in order to allow fresh investors into the company.



“If you want to list, you would surely be willing to come down on your holding so that others would participate” he said



The company is expected to list its shares following its concluded Private Placement (PP).



Though as at the time of filling in this report, Proshare NI was unable to confirm the current position of issues as regards its delayed listing.