Dividend: Fiddlyfarking for a year! The dividend vs. stock buyback discussion has turned an incentive into a disincentive. By that I mean that Wade dropped his first hint about a possible dividend over 10 months ago at the last AGM. He has continued to drop the hint in discussions and talks with investors over the last year, but he has not put anything about dividends into a press release as of yet.
We can't blame "slow Nigeria time" for Wade's fiddlyfarking around for a fricking year.
It seems that some current BIG shareholders have said they will sell Mart shares if a dividend is announced because they'd prefer a stock buyback. Othe BIG shareholdes said they would sell if a stock buyback is announced instead of a dividend.
Meanwhile, Mart cannot even publish a news release about an agreement that has supposedly already been signed with Shell Nigeria about UMUSADEGE partners selling oil to Shell when they are able to build a pipeline from UMU to attach into an existing Shell pipeline.
Stop fiddlyfarking around or the stock could easily head south.
By the way, it would be interesting to find out how much clout Mart and the UMUSADEGE partners have to get shareholder approval for any kind of merger with so many shares being owned by shareholders that are not happy with Mart's year-long fiddlyfarking behavior. I guess the good news might be that the terms would have to be reasonable for Mart in order for existing Mart shareholders to approve a merger.
Regards,
'peeker