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Safcom on a dive, whats going on?

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My 2 cents		#161 Posted : Tuesday, August 24, 2010 1:22:54 PM
Rank: Veteran Joined: 6/2/2010 Posts: 1,090		hisah wrote: As for long term investors, I don't know how many of you have checked the current scom prospectus and noticed that the Chair, CEO and Investment Officer hold amongst them approx 5.5M shares. That's 0.013% of the 40B share lot?!? Even more peculiar the CFO has no holdings? . You consider a holding of about Kshs. 30 million between 3 investors small?? Safcom is a HUGE company by capitalisation, so even a 1% holding between several individuals if SIGNIFICANT.
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hisah		#162 Posted : Tuesday, August 24, 2010 1:28:58 PM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		0.01% is not significant. And a CFO not holding anything looks fishy... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Njung'e		#163 Posted : Tuesday, August 24, 2010 1:30:06 PM
Rank: Elder Joined: 2/7/2007 Posts: 11,935 Location: Nairobi		...Safco diehards.Reminds me of a parable Malcolm X used to tell.Looks like we got quite a bunch of house negroes right here.. http://www.zimbio.com/Bl...use+Negro+vs+Field+Negro Nothing great was ever achieved without enthusiasm.
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VituVingiSana		#164 Posted : Tuesday, August 24, 2010 2:18:25 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		Jamaas are complaining about non-ownership by Management & Board... Same shyte applies to KCB where the CEO & his deputy had ZERO shares... At least MJ has safcon shares... JM has lotsa Equity shares... Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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My 2 cents		#165 Posted : Tuesday, August 24, 2010 3:04:47 PM
Rank: Veteran Joined: 6/2/2010 Posts: 1,090		hisah wrote: 0.01% is not significant. And a CFO not holding anything looks fishy... Talk absolute figures, stop hiding behing %s. Pray tell, how much in Kshs. do you want them to hold? Have you ever heard of diversification? If each of these 3 individuals own Kshs. 10m worth of shares in Safcom, if they held other counters of the same value, how much would they be worth? Do you know that it is advised not to hold too much in a single stock???
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PKoli		#166 Posted : Tuesday, August 24, 2010 3:07:42 PM
Rank: Elder Joined: 2/10/2007 Posts: 1,587		hisah wrote: 0.01% is not significant. And a CFO not holding anything looks fishy... O.01% of an empire like safcom is quite significant!
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hisah		#167 Posted : Tuesday, August 24, 2010 3:55:59 PM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		I rest my case. This is a futile argument. Would you trust a management or board that holds a 5% shareholding in their firm or one with minute or none and be comfortable as a long term investor? Scangroup, ARM, Equity, Coop etc... Start from here... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah		#168 Posted : Tuesday, August 24, 2010 3:58:47 PM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		My 2 cents wrote: hisah wrote: 0.01% is not significant. And a CFO not holding anything looks fishy... Talk absolute figures, stop hiding behing %s. Pray tell, how much in Kshs. do you want them to hold? Have you ever heard of diversification? If each of these 3 individuals own Kshs. 10m worth of shares in Safcom, if they held other counters of the same value, how much would they be worth? Do you know that it is advised not to hold too much in a single stock??? Quote: As for long term investors, I don't know how many of you have checked the current scom prospectus and noticed that the Chair, CEO and Investment Officer hold amongst them approx 5.5M shares. That's 0.013% of the 40B share lot?!? Even more peculiar the CFO has no holdings? That was my initial post with the % figures. Read their prospectus or download it from their website. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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My 2 cents		#169 Posted : Tuesday, August 24, 2010 4:08:52 PM
Rank: Veteran Joined: 6/2/2010 Posts: 1,090		hisah wrote: I rest my case. This is a futile argument. Would you trust a management or board that holds a 5% shareholding in their firm or one with minute or none and be comfortable as a long term investor? Scangroup, ARM, Equity, Coop etc... Start from here... YOU JUST DO NOT GET IT. DO YOU????????????? Safcom is worth 210 BILLION!!!!!!! You want 3 board members to hold 5%; that translates to about 10 BILLION; 3 BILLION EACH. Even if they wanted to, WHERE THE HECK ARE THEY SUPPOSSED TO GET THAT KIND OF MONEY!!!!!!!!!!!!!!!
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VituVingiSana		#170 Posted : Tuesday, August 24, 2010 4:19:10 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		@My2Cents is right... This is a HUGE firm... 50bn shares! As is, the management (or others) were limited to buying only a 'few' shares... Co-op Bank & Equity Bank had PRIVATE PLACEMENTS where the Management were able to buy many more shares (or a higher %) vs the IPO for Safaricom... ScanGroup & ARM are/were 'family' firms thus the owners held large stakes. Note that Bharat Thakrar's stake has been diluted since WPP came on board... I am not sure about ARM tho the family was diluted after they sold shares to Bamburi... Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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