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  #1 (permalink)  
Old 16th August 2008, 08:56 AM
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Default GMT Capital Limited PP?

This may be a PP in the offing. Find below an excerpt from the MD interview from Proshare.

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Investments into subsidiaries

GMT Capital has invested in Agriculture through GMT Agro Allied Multi-Ventures Limited. The company is to carry on business as farmers and to engage in all types of farming activities.

We have also invested in Real Estate through the company GMT Property Development Company Limited.

Apart from the above, GMT Capital has investment in telecommunications through GMT Media Services Limited.

The holding also has GMT Guards to provide security for individuals, corporate bodies and Government Agencies.

However, we felt that if we have to achieve our aspirations as a holding company, we need to do more than we have done, and this would require us raising fresh funds.
The aim of the Holding Company is to invest in profitable ventures that would give the company a very good portfolio that would be waxing stronger irrespective of any downturn in the economy.
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Old 20th August 2008, 03:59 AM
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Default Re: GMT Capital Limited PP?

GMT Capital targets N15bn turnover from expansion programme

Written by Babajide Komolafe
Wednesday, 20 August 2008

GMT Capital Limited has commenced an expansion programme aimed at increasing its annual turnover by 130 per cent to N15 billion.
Group Managing Director/Chief Executive of the company Mr Ebi Odeigah disclosed this at a media briefing last week, saying the company plans to seek for business opportunities in the various sectors of the economy and also by building a portfolio of investment that will not fail.

GMT recorded N6.5 billion turnover in its last financial year, Odeigah however disclosed that the company has commenced moves which is aimed at doubling this performance. Part of this measures he said is increase its capital by N12 billion through a private placement. The company is floating 6,000,000,000 ordinary shares of 50 kobo each at N2.00 per share.
The capital raising exercise, he added will place the company on a sound footing to take advantage of the opportunities that abound in the Nigerian economy.

“We believe that the future of the Nigerian financial service industry in general holds a great deal of promise, especially as a result of the economic policies of the administration of president Umaru Musa Yar’Adua, which are aimed at empowering private enterprise and reduce inefficiency. These policies include the consolidation of the industry, which is expected to significantly reduce the number of players (thus eliminating marginal players and sharp practices engendered by them) as well as reduce cost,” he explained.
GMT he explained has five subsidiaries namely GMT Securities and Assets Limited, GMT Agro-allied, GMT Media Services, GMT Properties, and GMT Guards, adding that the part of proceeds of the private placement would be used to enhance the share capital of these companies.

“The capital from the private placement will further give the company the ability will ensure that we have the ability to absorb shocks arising from circumstance that may affect the stock market in a negative manner that would have otherwise resulted in a loss. In addition, the diversification of our source of income by our investment in subsidiary and associated companies will also give us greater capability to deal with such shocks. It is therefore expected that our operations in the near future will be better and more stable in nature than what have experienced in recent years.” He said, in addition to this the company will deploy part of the fresh capital to emerging business opportunities in other sectors, especially in the provision of infrastructure.”
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Old 27th August 2008, 05:38 AM
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Default Re: GMT Capital Limited PP?

[GMT Capital set to raise N12bn through Placement
Posted Tuesday, August 26, 2008

-Projects 22 Kobo dividend in 2013



PETER OBIORA

Proshare NI

August 26, 2008 at 17:41 GMT



GMT Capital Limited is set to raise a fresh fund of N12 billion through a Private Placement (PP). This was contained in a confidential document made available to Proshare NI in Lagos Nigeria.



The company intends to raise the N12 billion by offering to select investors by way of Placement 6.0 billion Ordinary Shares of 50 Kobo each at N2.00 per share.



Presently the company has an Authorised Share Capital of N5, 000,000,000 made up of 10,000,000,000 Ordinary Shares of 50 Kobo each.



GMT Capital had affirmed in the document that the shares being offered rank pari passu with the existing issued Ordinary Shares of the Company.



However, the above would not be qualifying for dividends and bonuses for at the Financial Year End (FYE) December 31, 2007.



Also the company is offering a minimum of 50,000 shares and multiples of 10,000 thereafter.



In the same vein, from the Memorandum of Profit Forecast Extracted from the Auditors Report, GMT Capital has projected a 22 Kobo dividend in year 2013 FYE.



While it expects to pay a 12, 15, 17 and 20 Kobo dividends for years 2009, 2010, 2011 and 2012 respectively. However, the forecast dividends per share are based on 6.0 billion Ordinary Shares at 50 kobo per share.



In the same vein, Gross Earnings of the company is expected to rise from N2.599 billion in year 2009 to N4.761 billion in year 2013 indicating a rise of 83 percent in the projected period.



Profit before Tax (PBT) is also expected to increase from N1.329 billion in year 2009 to N2.932 in year 2013 representing an increase of 121 percent.



While Profit after Tax (PAT) is also projected to grow from N1.063 billion in year 2009 to N2.346 billion in 2013 showing a growth of still 121 percent in the forecast period.



Ebi Odeigah, Managing Director/Chief Executive Officer (GMD/CEO) of the emerging holding company; had earlier confirmed to Proshare NI that GMT Capital intends to use proceeds of the Placement in the following ways.



One is to exploit the identified opportunities in the capital intensive Agro-Allied and Real Estate sectors of the economy.



It also seeks to make inroads in the Media and Security provision business whilst consolidating its Securities outfit.



Issuing House to the Placement which opens September 01 2008 and closes October 08, 2008 is Futureview Financial Services Limited.
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Old 27th August 2008, 06:42 AM
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Default Re: GMT Capital Limited PP?

Quote:
Originally Posted by hispy99 View Post
[GMT Capital set to raise N12bn through Placement
Posted Tuesday, August 26, 2008

-Projects 22 Kobo dividend in 2013



PETER OBIORA

Proshare NI

August 26, 2008 at 17:41 GMT



GMT Capital Limited is set to raise a fresh fund of N12 billion through a Private Placement (PP). This was contained in a confidential document made available to Proshare NI in Lagos Nigeria.



The company intends to raise the N12 billion by offering to select investors by way of Placement 6.0 billion Ordinary Shares of 50 Kobo each at N2.00 per share.



Presently the company has an Authorised Share Capital of N5, 000,000,000 made up of 10,000,000,000 Ordinary Shares of 50 Kobo each.



GMT Capital had affirmed in the document that the shares being offered rank pari passu with the existing issued Ordinary Shares of the Company.



However, the above would not be qualifying for dividends and bonuses for at the Financial Year End (FYE) December 31, 2007.



Also the company is offering a minimum of 50,000 shares and multiples of 10,000 thereafter.



In the same vein, from the Memorandum of Profit Forecast Extracted from the Auditors Report, GMT Capital has projected a 22 Kobo dividend in year 2013 FYE.



While it expects to pay a 12, 15, 17 and 20 Kobo dividends for years 2009, 2010, 2011 and 2012 respectively. However, the forecast dividends per share are based on 6.0 billion Ordinary Shares at 50 kobo per share.



In the same vein, Gross Earnings of the company is expected to rise from N2.599 billion in year 2009 to N4.761 billion in year 2013 indicating a rise of 83 percent in the projected period.



Profit before Tax (PBT) is also expected to increase from N1.329 billion in year 2009 to N2.932 in year 2013 representing an increase of 121 percent.



While Profit after Tax (PAT) is also projected to grow from N1.063 billion in year 2009 to N2.346 billion in 2013 showing a growth of still 121 percent in the forecast period.



Ebi Odeigah, Managing Director/Chief Executive Officer (GMD/CEO) of the emerging holding company; had earlier confirmed to Proshare NI that GMT Capital intends to use proceeds of the Placement in the following ways.



One is to exploit the identified opportunities in the capital intensive Agro-Allied and Real Estate sectors of the economy.



It also seeks to make inroads in the Media and Security provision business whilst consolidating its Securities outfit.



Issuing House to the Placement which opens September 01 2008 and closes October 08, 2008 is Futureview Financial Services Limited.


I do not think this offer is attractive enough under the present circumstances.
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Old 1st September 2008, 10:33 PM
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Default GMT Capital N12 billion Private Placement opens

Proshare News

GMT Capital Limited has opened its N12 billion Private Placement (PP). Ebi Odeigah, Managing Director/Chief Executive Officer (GMD/CEO) of the company confirmed this to Proshare NI today in Lagos Nigeria.

“We have opened our N12 billion Private Placement today September 01, 2008” Odeigah said.


GMT Capital proposes to raise the N12 billion by offering to select investors by way of Placement 6.0 billion Ordinary Shares of 50 Kobo each at N2.00 per share.



As earlier reported by Proshare NI, the company presently has an Authorised Share Capital of N5, 000,000,000 made up of 10,000,000,000 Ordinary Shares of 50 Kobo each.



Also GMT Capital is offering a minimum of 50,000 shares and multiples of 10,000 thereafter.



The company which intends to emerge as a holding company; seeks to raise the fund in order to go into the Agro-Allied and Real Estate sectors of the economy.



Apart from the above, GMT Capital seeks to explore the Media and Security subsector of the Nigerian economy.



Also as earlier reported by Proshare NI, GMT Capital has projected to offer a 22 Kobo dividend in its 2013 Financial Year End (FYE).



In the same vein, the company forecast a dividend payment of 12, 15, 17 and 20 Kobo dividends for years 2009, 2010, 2011 and 2012 respectively.



The above forecast dividend payments, the company affirmed are based on 6.0 billion Ordinary Shares at 50 kobo per share.



Futureview Financial Services Limited is the Issuing House to the Placement which opened today September 01 2008 and closes October 08, 2008.
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Old 11th September 2008, 06:50 AM
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Default Re: GMT Capital N12 billion Private Placement opens

GMT Capital targets N30bn gross earnings in 2009
Posted Wednesday, September 10, 2008



The management of GMT Capital Limited, an emerging portfolio investment firm, has restated its commitment to rake in a N30 billion gross earnings in 2009.



The managing director of the company, Mr. Ebi Odeigah, who explained the readiness of the firm to give investors a robust return on investment, hinged his optimism on the prevailing business environment in Nigeria, which he described as very encouraging.



To achieve this feat, the company’s management on Monday, September 1, opened a private placement, an investment move, which Odeigah said would complement other steps taken earlier by the company to give stakeholders befitting returns on their investments.



The Company, which is raising N12 billion through a private placement, according to Odeigah, does not intend to immediately list its shares on The Nigerian Stock Exchange. However, there are plans to list in the future. Speaking at a media forum in Lagos , at the weekend, Odeigah, who believes in the potentials available in the Nigerian economy, said the firm, which has selected a cream of tested professionals in its management positions, is targeting N30 billion in gross earnings in 2009.



"In the next two years, we projects that, baring environmental challenges, to rake in N30 billion as earnings while its targeted profit after tax for 2009 is N1.32 billion."



He disclosed that the private placement would give Nigerians a profound opportunity to be part-owners of the conglomerate which would start to yield bountiful dividends to shareholders in a short period of time.



Other subsidiaries in the GMT conglomerate include GMT Property Development Company that carries on the business as a property company, estate consultancy; GMT Agro Allied Multi-Ventures that engages in agricultural business and services, GMT Guards that provides security services and GMT Media Services that carries on business as media and public relations practitioners.



Odeigah described an investor as "An economic evaluator and assessor whose aim is to conquer the market with the single objective of making profit for his stakeholders." Adding that, "At GMT , we monitor the market through our regular research technique and establish our investment goals which is principally the objective of any serious investor", he said, noting that GMT has taken into consideration government policies and environmental challenges in determining risk-less investment opportunities but with good returns to the customers."



To demonstrate its proficiency, the managing director said that GMT Securities and Asset Management c, which is a subsidiary of the firm, moved from a meagre N400 million turnover by 2005 to N6.5 billion in 2007. "By the end of this year, we are already thinking of N15 billion turnover in GMT Securities and Assets Management, our flagship", he said.



He said the organization is now highly positioned and recharged to deliver good returns on investment to customers. "The company presently has huge investments in agriculture, telecommunications, oil and gas, real estate and among others, adding that subsidiaries of GMT Capitals are returning good yields for the stakeholders."



The prospectus for the exercise states that GMT Capital Limited seeks to exploit the identified opportunities in the capital intensive Agro-Allied and Real Estate sectors of the economy. It also seeks to make inroads in the Media and Security provision business whilst consolidating its Securities outfit.
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"The one absolute requirement of a money manager is emotional maturity. If you don’t know who you are, the stock market is an expensive place to find out." - Adam Smith
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Old 17th September 2008, 10:09 AM
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Default Re: GMT Capital Limited PP?

All,
Attached is the pp document for the offer. Seems good to me. Made it known that they will not list in a hurry. Question is how they hope to make in road in real estate, security and media businesses with all the big players already in the field.
Attached Files
File Type: doc GMT PROSPECTUS .doc (418.5 KB, 13 views)
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Old 17th September 2008, 12:05 PM
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Default Re: GMT Capital Limited PP?

Quote:
Originally Posted by faoogoke View Post
All,
Attached is the pp document for the offer. Seems good to me. Made it known that they will not list in a hurry. Question is how they hope to make in road in real estate, security and media businesses with all the big players already in the field.
There is nothing in this document that encourages me to subscribe. The line of Business, Fundermentals, Forecasts and key resources are just not convincing. The document looks like a cut and paste from one old PO or PP. Is this what the Capital Market has turned too? Amazing!! And people will still buy. Hmmmm.
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Old 17th September 2008, 03:58 PM
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Default Re: GMT Capital Limited PP?

Proshare News and Analysis
GMT Capital may adopt share buy back approach
Posted Wednesday, September 17, 2008

-To sustain value for investors



Proshare NI

September 16, 2008 at 20: 56 GMT

GMT Capital Limited may adopt the share buy back approach in Nigerian Capital Market in order to sustain value for investors into the company.

The company today in Lagos Nigeria held an investors conference to sensitise investors on Risk Management as regards investments in Nigeria.

As earlier reported, the Government recently approved share buy-back as one of the measures to tackle depreciating share prices in the Nigerian Capital Market.

Also Independent Shareholders Association of Nigeria (ISAN) as a follow up on this measure been adopted by the Federal Government (FG) held a conference sometime to study the workability of the practice in Nigerian environment.

From the information made available to Proshare NI in the confidential Private Placement (PP) memorandum of GMT Capital, as part of risk management it has put in place, affirmed that investment in the Nigerian Capital Market is subject to general risk of equity investment.

“There is not guarantee that an active interest in GMT Capital shares will continue or that the company’s market price when listed on the Nigerian Stock Exchange (NSE) will not significantly reduce.

In the same vein, the company’s own equity investment may reduce in value thereby affecting profitability. The company has put in place a robust risk management framework that seeks to limit losses arising from equity swings” the document affirms.

As earlier reported by Proshare NI,GMT Capital is seeking to raise N12 billion by offering to select investors by way of Placement 6.0 billion Ordinary Shares of 50 Kobo each at N2.00 per share.

GMT Capital which intends to emerge as a holding has promised to add value to investors by diversifying into other sectors of the Nigerian economy.

The Placement which opened September 01, 2008 is expected to close October 08, 2008 Financial Adviser is GMT Securities & Asset Management Plc.
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