SHORELINE Dredging & Oil Services Limited

[stockguru]

Hi guys, is it true shoreline will be out on PP. A friend told me they are coming out April. l have been trying to get the details but nobody seems to know anything about it. Please, l need the info for l am set to key into it.
"you cannot become what you are destined to be by remaining what you are"

[solainvest]

Proshare News

Shoreline Dredging & Oil Services Ltd is doing a Private Placement of 700,000,000 million Ordinary Shares of 50K each at N4 per share.



To this end, they are holding a press forum. Representatives of Stock broking firms, Issuing Houses, Investment Houses, Banks, High net-worth investors are expected to attend the forum.



The aim of the forum is to familiarize potential investors with the operations and expansion plans of the company.



To this end, you are invited to attend the Press Forum.



Kindly find below details of the press forum.



DATE: Monday September 22, 2008

VENUE: Protea Hotel, Plot 1700 Violet Youth Close, Off Adetokunbo Ademola St. Victoria Island, Lagos

TIME: 11 AM



Regards



Ibinabo Tamuno | Investment Banking Group | Skye Bank Plc | 3 Akin Adesola Street, Victoria Island, Lagos, Nigeria | M:08023630349 | DL:2700145 |

[threecrown]

Shoreline Announces N2.8bn Private Placement
( 24.09.08 )

Shoreline Dredging & Oil Services Limited has offered for subscription a private placement of 700,000,000 ordinary shares of 50 kobo each at N4.00 per share. The offer, which opened on September 15, is expected to close on October 23.

Speaking at a media briefing on Monday in Lagos, the Managing Director of the company, Mr. Olumide Amo-Oluwole said that the company has reached a stage where its expansion is being hindered by its capacity and felt it is time to expand.

He added that the private placement become necessary to accommodate the various jobs that the company have, both on hand and in the pipeline.

He said, " we have in the past relied on the appointment of sub-contractors to execute some of the various job that we had and have since realised that our corporate policies and visions are sometimes miles apart and in turn affect the delivery of our jobs."

He therefore, called on individuals and corporate bodies with a vision for excellence to invest in shoreline's private placement and be part of a leading Nigerian dredging company with the potential of becoming a 'world' class dredging company.

Speaking on the company's achievements, Oluwole disclosed that the company has successfully hauled and supplied over 50 per cent of the aggregates and 30 per cent of sand used by Spibat for the construction of the Mobil Producing Unlimited NGL Project in Bonny, 20 per cent of aggregates and sand used by Spibat for the Shell Petroleum Development Company AGG Project at Soku, 30 per cent of aggregates and sand used by Julius Berger Nigeria, Setramech Nigeria Limited and Spibat/Faugerolle Nigeria Limited for the Bonny LNG trains 1-6 project.

To remain above competition and provide better services, Oluwole said the company commenced the acquisition of marine and dry plant equipment for her haulage and supply services. "As our fleet grew, we discovered opportunities in leasing and commenced leasing of barges, tugboats, trucks, house boats to our clients," he added.

The company, which the shoreline boss disclosed, started as a supplier of chemicals, equipment and spare parts to the major oil and oil service companies, has grown from staff strength of fifteen with an annual turnover of N1,000,000 in 1996 to staff strength of over 80 with an annual turnover of N873,000,000 in 2007.

Speaking on the company's future plans, he stated that the company hope to provide efficient services at competitive prices and take dredging beyond the shore of Nigeria.

He added, " we are investing heavily in the training and motivation of our staff and maintenance of our equipment to enable us achieve our objections, which are to create and sustain a position as a quality leader in the dredging industry in Nigeria.

"To serve our market efficiently, to attract and retain top level talent in the industry, to attain and maintain a high level of profitability and to capitalise on our present opportunities through synergy with experienced dredging companies."

[dannynoko]

Originally Posted by threecrown

Shoreline Announces N2.8bn Private Placement
( 24.09.08 )

Shoreline Dredging & Oil Services Limited has offered for subscription a private placement of 700,000,000 ordinary shares of 50 kobo each at N4.00 per share. The offer, which opened on September 15, is expected to close on October 23.

Speaking at a media briefing on Monday in Lagos, the Managing Director of the company, Mr. Olumide Amo-Oluwole said that the company has reached a stage where its expansion is being hindered by its capacity and felt it is time to expand.

He added that the private placement become necessary to accommodate the various jobs that the company have, both on hand and in the pipeline.

He said, " we have in the past relied on the appointment of sub-contractors to execute some of the various job that we had and have since realised that our corporate policies and visions are sometimes miles apart and in turn affect the delivery of our jobs."

He therefore, called on individuals and corporate bodies with a vision for excellence to invest in shoreline's private placement and be part of a leading Nigerian dredging company with the potential of becoming a 'world' class dredging company.

Speaking on the company's achievements, Oluwole disclosed that the company has successfully hauled and supplied over 50 per cent of the aggregates and 30 per cent of sand used by Spibat for the construction of the Mobil Producing Unlimited NGL Project in Bonny, 20 per cent of aggregates and sand used by Spibat for the Shell Petroleum Development Company AGG Project at Soku, 30 per cent of aggregates and sand used by Julius Berger Nigeria, Setramech Nigeria Limited and Spibat/Faugerolle Nigeria Limited for the Bonny LNG trains 1-6 project.

To remain above competition and provide better services, Oluwole said the company commenced the acquisition of marine and dry plant equipment for her haulage and supply services. "As our fleet grew, we discovered opportunities in leasing and commenced leasing of barges, tugboats, trucks, house boats to our clients," he added.

The company, which the shoreline boss disclosed, started as a supplier of chemicals, equipment and spare parts to the major oil and oil service companies, has grown from staff strength of fifteen with an annual turnover of N1,000,000 in 1996 to staff strength of over 80 with an annual turnover of N873,000,000 in 2007.

Speaking on the company's future plans, he stated that the company hope to provide efficient services at competitive prices and take dredging beyond the shore of Nigeria.

He added, " we are investing heavily in the training and motivation of our staff and maintenance of our equipment to enable us achieve our objections, which are to create and sustain a position as a quality leader in the dredging industry in Nigeria.

"To serve our market efficiently, to attract and retain top level talent in the industry, to attain and maintain a high level of profitability and to capitalise on our present opportunities through synergy with experienced dredging companies."

Anybody got any Prospectus of this company PP? Please post it for us to look at. Thanks.

[prince dagbolu]

All those thinking of buying into this offer should be careful. The MD of this company is heavily involved in Costain PLC and Premier Paints. Just research into what happened to the shares of those two companies before you part part with your money. I am out of this one.

[hispy99]

Originally Posted by prince dagbolu

All those thinking of buying into this offer should be careful. The MD of this company is heavily involved in Costain PLC and Premier Paints. Just research into what happened to the shares of those two companies before you part part with your money. I am out of this one.

Are you sure this company is related to Shoreline Energy which bought majority stakes in Nigerian Ropes, Premier Paints and Costain?

[silver surfer]

Originally Posted by hispy99

Are you sure this company is related to Shoreline Energy which bought majority stakes in Nigerian Ropes, Premier Paints and Costain?

i am quite familiar with the Karim family who own shoreline energy and can confirm that shoreline dredging is very much a related company.

[dannynoko]

Originally Posted by silver surfer

i am quite familiar with the Karim family who own shoreline energy and can confirm that shoreline dredging is very much a related company.

This sounds like a confirmation and no go area for now.

[jamiu]

Has anyone seen the prospectus of this PP?
We need it here.

[BLUEMONEY]

Originally Posted by prince dagbolu

All those thinking of buying into this offer should be careful. The MD of this company is heavily involved in Costain PLC and Premier Paints. Just research into what happened to the shares of those two companies before you part part with your money. I am out of this one.

To my mind Costain W.A PLC & Premier Paints PLC are better off today than what they used to be since KARIM's Shoreline Bought into those company so I am Suprised at your comment above.

[BLUEMONEY]

Originally Posted by dannynoko

This sounds like a confirmation and no go area for now.

Until I see the PP Memo, I wont say if this is a no go Area for now. And the Fact that this PP is related to Kola Karim and his group, then this PP will be Fully Subscribed.

So I am waiting for the PP Memo to make my Decision & that is if we are able to get it on time.

[dejacrue]

if d co. ie related to shoreline energy, it is a no go area. premier paints refuse to move since the new NSE rule came into place. costain is ok. d pp is already fully subscribed and ur money 'll be returned after spending months in banks yieldin interest for the owners.

i bow out.

[faxy25]

I know the CO of Shoreline Dredging and Oil Services and there is no relationship between it and Shoreline Energy.The only thing common between them is the word Shoreline.

[knightofdelta]

Originally Posted by dejacrue

if d co. ie related to shoreline energy, it is a no go area. premier paints refuse to move since the new NSE rule came into place. costain is ok. d pp is already fully subscribed and ur money 'll be returned after spending months in banks yieldin interest for the owners.

i bow out.

Just because the price of Premier paints has refused to move does not mean that the company is not a good one to invest in. There seems to be a controversy between this Shoreline Dredging and Shoreline Energy. A look at the PP memo will show if there is any relationship between the two. PPs are not the best place to invest at the moment anyway but that does not mean that a juicy one cannot appear in the stormy waters.

Meanwhile if there is a relationship then that means that Shoreline Dredging will be a good buy. Kola Karim is a seasoned entrepreneur following in the footsteps of Dangote. Dangote did not latch on the NSE leverage early enough but this guy is and I respect him for that.

I need to see the PP memo first before I give my opinion about its viability.

[prince dagbolu]

Originally Posted by hispy99

Are you sure this company is related to Shoreline Energy which bought majority stakes in Nigerian Ropes, Premier Paints and Costain?

I am sure i read the name Kola Karim in one of the invites sent out to people inviting them to Shoreline dredging.

I have concerns about this PP. But, each of us will have to make up his own mind. I remember Costain going to N88 and then falling to the current N15. I also remember Premier Paints going from N1 to about N12 immediately Costain bought 40% stake in the COY. Then it got stock.

I fear that this could be Afrioil and Capital Oil all over again. Stocks going up up up for no known reasons.

Since the NSE brought out the 100000 Units rule the fortunes of Premier Paint in particular changed. There is no doubt in my mind that someone massaged those shares to where they got. Good luck to you all.