By Hannah Isibor, Magbegor Zino and Paul Metu

Mr. Boniface:

I read that too, SEC just keeps on planning and inaugurating. Tomorrow they’ll tell us they want to become world class market. Today they are talking about becoming global market when the market is not even thriving, it is unfortunate. Where are they leading us to? Is it for somebody to wait for 10 year plan before the market can be turned around?

We’ve told them that SEC should identify the fundamental issues and address them. What caused the meltdown, it’s a global financial crisis, but our regulators never understood what caused the crash. Let them inaugurate 20 year master plan, will that help to boost the market? It will not. So let them keep on inaugurating committees, but let us see the result of the committee that they have inaugurated, that’s the most important thing. But if the results are not forthcoming, then that inauguration is just a fruitless exercise as far as I’m concerned.

Adebayo Okinola:

Let the committee start their work first. Once the work starts, then I can express an opinion on that. They might make relevant impact on the capital market, though it all depends on the committee and what they come up with as they carry out their duties and their implementation on the strategies for the growth and improvement of the capital market.

Chinyere Nwankwo:

I think it’s a good idea because the committee has been given the mandate to make plans for capital market for 10 years. SEC cannot be doing everything; they cannot be everywhere, so I think it’s a great idea for them to delegate people to carry out some responsibilities on their behalf.

It will help in boosting confidence and I am sure the capital market will definitely see positive changes as a result.

Top 10 performing stocks

On the top ten performing stocks last week were Conoil Plc, CAP Plc, UACN Property Development Co. (UPDC) Plc, Forte Oil Plc, Academy Press Plc and Transnational Corporation of Nigeria Plc (Transcorp).

Others were Learn Africa Plc, Ikeja Hotel Plc, R T Briscoe Plc and Berger Paints Plc.

Conoil Plc led the advancers with 40.47 percent or N14.16 per share price increase to close at N49.15 from N34.99 it started the week at. It was the second highest price gainer in the previous week. The company said it will continue to pursue initiatives that will strengthen its income base in the core segments of its business capitalising on every emerging opportunity in the down-stream petroleum sector.

Available financial statement of the company for the half year ended 30th June, 2013 showed that revenue rose marginally by 4.5 percent to N79.6billion from N76.2billion in 2012. Gross profit also rose by 7.7 percent to N8.32 billion from N7.73 billion. The company was also able to reduce its operating expenses by about N436 billion helping to boost operating profit to N3 billion, 52 percent higher than N1.9 billion posted in 2012.

The effect of the reduction of about N18 billion in loans also saved the company about N300 million in finance cost. Pre-tax profit rose to N1.9 billion, a 199 percent increase over N663 million posted in the same period of 2012. Year-to-date, the stock price has risen by 1,866 percent from year low of N2.50 to the closing price on Friday.

Chemical and Allied Products, CAP, recorded  26.10 percent or N10.14 increase to emerge the second on the top ten gainers list. It started the week at N38.85 and closed at N48.99 per share. Listed on the building materials sector of the NSE, CAP manufactures paints and coatings, as well as fire extinguishers. CAP became a subsidiary of UAC of Nigeria Plc after the later took over controlling interest in the company as part of a drive to increase its presence in key sectors of the economy. The company recorded 21 percent growth in turnover to N5.23 billion from N4.31 billion in 2012 financial year. The profit before tax rose by 22 percent from N1.36 billion in 2011 to N1.66 billion. Year-to-date, the stock price has risen by 255.52 percent from year low of N13.78 to the present market price.

Another subsidiary of

UAC of Nigeria, UPDC, advanced by 13.60 percent or N2.27 to close at N18.96 from N16.69 per share. The company recently undertook Real Estate Investment Trust, REIT, Initial Public Offering where it sought to raise N30 billion. The IPO, which the company said its proceeds would be used to consolidate its activities and unlock more value-generating business in the next few years was 88.9 percent subscribed.

Forte Oil added 13.50 percent or N8.68 to its share price to close at N72.98 from N64.30 per share. It was one of the companies that successfully acquired one of the generating plants in Nigeria in the recent privatisation exercise of the power sector by Bureau of Public Enterprise, where it secured ownership of 434MW Geregu Power Plant.

Printing/Publishing listed company, Academy Press, added 11.59 percent or N0.24 to close at N2.31 from N2.07. Academy Press, involved in security printing, had in 2012 announced that it would take advantage of ban on importation of security and sensitive print materials by the Central Bank of Nigeria to upgrade its facilities to full blown security printing outfit. Available financial statement of the company for the third quarter ended 31st December, 2012, showed that revenue was up by 1.3 percent to N1.54 billion as against N1.52 billion in 2011.

Transcorp advanced by 11.59 percent or N0.19 to close at N1.63 from N1.64; Learn Africa gained 7.27 percent or N0.12 to close at N1.77 from N1.65; Ikeja Hotel added 7.14 percent or N0.05 to its share price to close at N0.75 from N0.70; R T Briscoe went up by 6.06 percent or N0.08 to close at N1.40 from N1.32, while Berger Paints rose by 5.66 percent or N0.45 from N7.95 to N8.40 per share.

COMPLAINTS & INVESTIGATIONS

Ecobank is frustrating e-dividend

I filled e-dividend form of First Registrars but was asked to do Bankers Confirmation with my bank, Ecobank. I was charged N3,100 for it, but First Registrars rejected it on the ground that the letter has disclaimer clause. I took it back to Ecobank but was told there is nothing they could do, that the clause is normal (Agada Moses)

Investors Forum

There is nothing normal about the clause. The purpose of Bankers Confirmation letter is to ascertain that the customer is the rightful owner of the account that he/she is submitting for e-dividend. Hence the disclaimer clause defeats this purpose. We strongly advise you to close your account with the bank, and go to another bank.

There are banks that treat customers with more understanding and respect.

Will National Conference affect investment in stock market?

What might be the future of investors in the capital market as the country goes into a discussion or rather convokes a Sovereign National Conference? Should the out come be that the amalgamation act of 1914 be dissolved? Prior to this, what can an investor do to secure his shareholdings if the result of SNC affects the market?

(Chrisubakson Emeka)

Investors Forum

The result of the national conference has nothing to do with investment in the stock market. Hence the outcome will not affect their investment.

No communication from Japaul Oil

Please I bought Japaul Oil and Maritime shares in 2005 and since then, I have not gotten my dividend or any other message from the company.  I wrote to them with the address I got from Nigeria Stock Exchange twice now, but there was no reply. What do i do? (Eldred from Benin)

Investors Forum

Please contact the registrar of the company, Sterling Registrars Limited. It is located at Knight Frank Building (8th Floor) 24 Campbell Street, Lagos. Preferably you can all.  234-01-2635607.

No dividend from

Berger Paints

I am a shareholder of Berger Paints Nig. Plc. My share certificate number is = 00602108 and account number is 044857.  I became their shareholder in 1999 with 4,000 shares of 50k each. The shares have increased since then. I have neither received any AGM report nor any share dividend for the past two to three years. Please, help me find out what the problem is. (Apochi Isaac Osevwe)

Investors Forum

Contact Meristem Registrars Limited  213, Herbert Macaulay Road, Yaba, Lagos. Tel: 01-2809250-4, 01-8920491-2. Email:  [email protected].

No communication from Daar Communications

I bought shares from Daar Communications Plc sometimes ago. Till now, I have not heard from them. ( Dafe Ukuwrere from Warri )

Investors Forum

Contact First Registrars  @ Plot 2 Abebe Village Road, Iganmu or call 08033018295, 08191410456

How do I recover my late wife’s shareholding?

My late wife bought shares with many companies like ‘’Dangote Group,Oceanic Bank, Tantanlizer, First Bank, AIT etc. Her stock broker, who promised  to inform me about her investment since three years now has not been found, though I receive some dividend bearing my son’s name(CHUKWU CHIDUBEM SAMSON) but how will I know if the certificate has been sent to her? Or how do I get the certificates since I cannot find her stock broker? (GREGORY CHUKWU Warri)

Investors Forum

The first thing is to list all the companies you believe your wife bought shares from.  Then contact the registrars of each company to confirm from them the shareholding status of your wife. Also confirm who your  late wife indicated as her next of kin. If it is you, they should advise you on steps to take to recover her investment.

Which company should I invest?

I want to buy shares, but I don’t know which one to buy. Please give me the name of a good coy to buy.  (OGBOLU    ANTHONY)

Investors Forum

Sorry, we don’t advise on companies to invest in. You need the services of a licensed stockbroker for such advice. The list of licensed stockbrokers is available on website of Nigeria Stock Exchange (www.nse.com)