NewStats: 3,265,372 , 8,186,552 topics. Date: Saturday, 14 June 2025 at 05:02 PM 1g6v4t

Thank you DeRuggedprof . Continue to share pointers in your usual parables and we will decode

Sunrisepebble:
Although these are concerning. I don’t think that’s why the dividend was low. Did you see their Free cash flow for 2024 ? They paid only 8% out of that as dividends. It’s still a growth company so that is expected

Exactly the point I am making. Maybe I have high expectations sha on dividend that's why I see it from that angle. The company is definitely doing well

yMcy56:

To be fair, I think CWG has been doing this over the past few years in which they commenced dividend payments....
Go check the dividend history..

Meanwhile, some cross deals are ongoing in DANGSUGAR, the sheriff in town needs to increase his stakes also.... lol

Yes I know but the payout ratio isn't improving. While earnings is improving, dividend also increases but the payout ratio remains same.

yMcy56:
Who is this hefty guy in CWG?
Is the company planning something?
Although at some point, I'm expecting bonus issue here anyway...

They should rather improve on their dividend yield. Bonus issue won't do any good.

Meanwhile, Oando inching back up gradually..... @66.35 as at now...

They should rather improve on their dividend yield. Bonus issue won't do any good.

Oadag:
Hey,

i want to know how often a rent and improve situation happens in Nigeria especially Abuja. I.E a shell and core concept. I provide the shell.... the exterior walls, frame, utilities e.t.c. Then another person interested finishes the inside, floor, ceiling, bathrooms, electrical fittings, and so on. Itll be based on agreement , a no rent agreement for some years then would start paying on the agreed price after those number of years.

That appears to mean selling a building carcass. Not sure that is a viable option for anyone to be Involved in. BTW, how many years is usually the no rent agreement

megawealth01:
I don't understand what MERISTEM is showing this morning although I have not noticed this about my VFD investment. Could there be anything wrong?

This minus on VFD is too much na

Your bonus issue has not been credited. When they do, the percentage will change. Currently price is reflecting your holding at the current price which shows a loss because you bought at a price higher than current mkt price. Calculate the bonus you're to receive and add to current price to see if you break even.

Na this other operating income boost PAT

@streetinvestor

Paragraph 2 under material uncertainty related to going concerns is all you need to understand better what karltom and sunrise pebble were saying about oando. Even after pledging their assets, auditors are saying they won't meet up if they don't raise additional capital as it only covers 11.8% and 8.4% funding gap of the business for this year and next. Make shareholders no expect anything till 2027.

They may start asset stripping soon

sterlingD:


What payment are talking about?Is the charge of N215.? If it is that, it debited from the you inputted to receive your dividend payment

Yes that 215. Makes sense that way

For people who have processed dividend mandate via the nibss platform, how did you make payment?

Sunrisepebble:
Return to profitability does not mean the negative asset position recovers, it means the profit they’ve made that goes to retained earnings still needs to increase.
MTN have returned to profitability and are still in negative asset position but by year end, the PAT/retained earnings would have restored the shareholders funds

That makes sense. Anyone buying should not expect dividend

KarlTom:
PZ EBM

https://doclib.ngxgroup.com/Financial_NewsDocs/44205_P_Z_CUSSONS_NIGERIA_PLC.-_NOTICES_OF_BOARD_MEETING_(BM)_-_NOTICE_BOARD_MEETING_(BM)_JUNE_2025.pdf

How did the business return to profitability in Q3 if they still have a negative asset position?

Sunrisepebble:
Ha, I dont get this result. The EPS as at 9M was N23.07. FY result it is N9.79, which kind of loss occurred in Q4

https://doclib.ngxgroup.com/Financial_NewsDocs/44200_N_NIG._FLOUR_MILLS_PLC.-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_JUNE_2025.pdf

The Q4 result will shed a lot of light. Looking at the Q3 result, the magic was in the other income line item and over 900% reduction in the selling and distribution expenses.

Reserve-Based Lending (RBL) is a form of secured financing used primarily in the oil and gas industry, where a company borrows money using the value of its proven oil and gas reserves as collateral.

🔍 How Reserve-Based Lending Works:
Collateral:

The borrower pledges its proved oil and gas reserves (typically P1 reserves – proven and producing) as security.

These reserves are valued by independent engineers or consultants using expected production and future commodity prices.

Borrowing Base:

Lenders calculate a borrowing base—a maximum amount the company can draw—based on:

Volume of reserves

Oil/gas prices (discounted/future)

Operating costs

Field decline rates

This base is re-determined semi-annually (sometimes quarterly) to reflect changes in prices and production.

Loan Structure:

Usually structured as a revolving credit facility, allowing the borrower to draw, repay, and redraw funds within a certain limit.

The borrowing base can go up or down based on market or reserve conditions.

💸 How Debtors (Borrowers) Pay Creditors (Lenders):
Repayment is usually tied directly to the cash flows generated from oil and gas production:

1. Scheduled Repayments:
Regular interest and principal payments are made based on an agreed schedule.

Payments may be monthly or quarterly, depending on the loan agreement.

2. Cash Sweeps:
If revenue exceeds certain thresholds, excess cash may be used to prepay the loan automatically.

This reduces the risk for lenders, especially if oil prices drop later.

3. Borrowing Base Redeterminations:
If the borrowing base drops below the current outstanding debt (e.g., due to falling oil prices or lower production), the borrower must:

Repay the excess (immediate or over a short grace period), or

Provide additional collateral, or

Re-negotiate with the lender.

4. Hedging Requirements:
Many RBL facilities require borrowers to hedge a portion of their future production.

This helps ensure that the borrower has predictable cash flows to meet debt obligations even if oil/gas prices drop.

✅ Benefits for Borrowers:
Access to larger capital based on reserves, not just revenue or assets.

Flexible drawdown and repayment.

Encourages disciplined capital investment tied to production.

⚠️ Risks:
Highly sensitive to commodity prices.

Borrowers may face margin calls or forced repayments if reserves are revalued down.

Can restrict growth or investment if cash flows are mostly used for debt service.

Streetinvestor2:
let me understand the ing practices here.Are you saying as you sell the crude. You remove money pay back loan.Not talking for debt servicing before preparing your annual results being sent to tax authorities or government regulator.Is this only applicable in this sector. That means
na watin you like you tell government so that you invade appropriate tax from money realized.
IIs this how aredel and seplet equally prepare thr own financials.
If na so as businessman I no suppose dey pay tax as I dey always owe.So I go use that style finish the whole money .
Then why whr people insinuating before that wale will come to market to raise funds to free the company from debt burden
And what happens when they offset the loan via this means after some yrs.Will they continue to declare loss too.

Make I free OandO matter. IB no give this kind head ache way I get in better quantity

According to chatgpt, reserve based lending implies oando can borrow against its reserve. So as they produce, they settle their lender first. If RBL is how they got funding, Sunrise position is correct. However one also has to understand how much of the production is pledged to repayment knowing that oando still has other debt obligations to pay asides this most recent loan.

Your business is different in that you don't have a reserve unlike producing companies which your lenders can place valuation on to determine how much you can be borrowed

Jeoma2024:
I bought some Nigeria stocks around February with Afri invest app

Wapco
Nem
Aiico
Gtco
Jberger
ZENITH
So far I have received dividend from
NEM
AIICO

And from what I saw read, GTCO AND ZENITH had paid but I didn't receive mine


How can make complaint

Should I complain to AFRI INVEST or is there other way to do this please

I started buying stock this year so I don't know much please

Help a sister please

You can write to the registrar of each company. Some already have online options for e-dividend. Other have to seal with signature mandate from your broker. You can try the nibss option as well.

emmaodet:
I have not received Nahco dividends since last friday from cardinal registrar.
it is really becoming frustrating.
Did my e-dividends mandate and also sent them a mail.

You and karltom should send email to the people below and copy SEC. CARDINALSTONE dropped the ball on NAHCO payment this time. Sent an email last night, got my payment this morning.

For urgent matters, kindly Adetoun Akingbojule at [email protected] or Olanike Solalu at [email protected].

You can CC [email protected] who is supposed to be the main for NAHCO shareholders at cardinalstone.

Princkez:
Is NAHCO good buy @#74....

It is Still a sound business.

uncleteeh:


Okay.
Aside the fact that the roofing sheets might be leaking due to puncture or inadequate lapping.
Is it concrete fascia that was constructed? (I asked this because from experience, concrete fascia too tend to allow water inside the ceiling during very heavy rainfall, and this happens in most cases due to the eave projection of the roofing sheet)

No concrete fascia. What we did was with facing board and a cover for wind protection at the top of the sheets which should ideally prevent wind from lifting the sheets

Ginalex:
At least we go receive small coins from Firstholdco and Nahco today

Nahco is my biggest payer of the season. Getting paid 5.96 while having a bep of over 7 is tantalizing

Geekop:


You may need to use felt cut into thin sizes or flashband to cover the overlaps.

Thank you. Any recommendations for flash bands with good bonding. I know there are a lot in the market these days. Just want something to give me some rest from roof wahala

diordaves:


What's the nature of the roof? Flat roof? What's the kind of roofing sheet?

A frame with long span roofing sheets not flat roof

Another issue with my build is leaks through the ceiling whenever there's heavy wind during rain. Almost all the flats upstairs have leaks at different times in different parts of the flat(sitting room, bedroom, toilet). However, whenever rain falls without heavy wind, no leak is experienced in any of the flats.

I am thinking the roofer didn't overlap the long span sheets properly and that wind is properly opening then to allow rain drops. Last year, I covered all the nail points with Abro cement. We've had that issue as recent as yesterday again in 2 of the flats.

VanuatuWycombe:


You, probably, didn’t damp-proof well or at all.

Also, most home builders, in Nigeria, ignore where sun rises and sets, when deciding where their house will face.

The side of your proposed house that receives highest sun hour are best to situate your bathrooms and kitchen.

Your bedrooms are good at that side that receives less sun hour. This helps minimize heat both day and night.

There may be need for you to remodel your bathroom with quality materials for plumbing, tiling and plastering.

Great perspective you've shared on sun rise and sun set, didn't know that was a thing. Not sure my architect considered that when deg too. The affected bathrooms are on the first floor and not ground floor, care to explain further how this relates to dpc?

So what solution was used eventually?

gabbytabby:
When I have had this problem the culprit has been

1) Waste, pipes and tiles not properly connected and/ sealed so further leaks through the sides of the tiles.

2) Initial plan and plumbing for additional waste when bathroom is washed but tiler covered the spot so we did not see this until the leak from the wall and at least one attempt of changing the bend and re sealing which did not work.

Ellah don enter Morgan capital's recommendation

m2cad:

Would be good to factually understand the issue rather than assuming

If the original installer isnt available, it will be advised to trace the line and locate the possible fault.

Breaking up the wall is a preferred bitter truth

Thank you. That's what we will do

diordaves:


The first plumber is useless. I will not be using his services anymore going forward.

The second plumber knows what they are doing. You probably have run a conduit plumbing system, so the pipe is buried in between the walls. A section of that pipe is leaking. You will need to chisel out that area of the wall to get to the source of leakage and fix it.

I had another discussion with the new plumber today, we opted to chisel the walls find the leak and fix it. Thanks for your thought

You don't want to start breaking walls. So, you need to terminate the water supply to that pipe outside and run a new surface plumbing. However this may not be straightforward because plumbing is a network. The leaking pipe may be linked to other sections of the supply network. Terminating the supply may disrupt the water supply to other sections of the house.

Terminating the supply from outside because you don't want to break walls and then reinstalling the network as a surface system may be more expensive than just chiselling the section of the wall and fixing the leak.

Two of the flats in my rental property have water soaking the walls from the toilet area.

First plumber I contracted said the issue was from opening between the floor and wall tiles, so he used water proof cement on the edges but that didn't stop it. We also noticed that the floor doesn't direct water into the floor drain so you still have some left over water on the bathroom floor. This was corrected by tiler recently by redoing the floor and water flows completely to the drain. However the issue is still there.

New plumber is saying the water supply is the culprit considering how much the wall is getting soaked and seeing it spread across the outside wall. He's suggesting we break the wall to find the leak ( I will prefer to rather run a new surface supply line instead of breaking the wall).

Has anyone experienced such and how did they solve it. Can waste pipes be responsible as well.

drills:


Please can someone help throw more light on V Boot/ driver for BETAGLASS share price rise.

Improved earnings. EPS closed the quarter above 16 naira higher than same period last year

cocolacec:
Conoil

Not same as the listed company

unite4real:


The outstanding shares of BetaGlass is 599.9M units.

Companies around this figures and with good fundamentals hardly see liquidity. maybe a stock split will help or the way of VFD Group with bonus shares

Fair point you have raised. I believe that contributes to the ease of pump in share prices in addition to the good numbers