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Could Safaricom issue a profit warning?
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Ericsson
#21 Posted : Sunday, February 06, 2011 7:23:04 AM
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Joined: 12/4/2009
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Safaricom had a no frills AGM in their first AGM and this was contrary to the Companies Act which stated that in an AGM a company should provide lunch to the shareholders.
Were they fined/prosecuted NO.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Jamani
#22 Posted : Sunday, February 06, 2011 7:36:46 AM
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Joined: 9/12/2006
Posts: 1,554
Ericsson wrote:
Safaricom had a no frills AGM in their first AGM and this was contrary to the Companies Act which stated that in an AGM a company should provide lunch to the shareholders.
Were they fined/prosecuted NO.



Really?? The companies Act has such a clause?
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Ericsson
#23 Posted : Sunday, February 06, 2011 7:44:55 AM
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Joined: 12/4/2009
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Yes that is why listed comapnies were complaining that the ACT needs to be ammended since it was very expensive for them to hold AGMs.
talk about providing lunch/meal to shareholders,sending to all shareholders a booklet of the Annual report even for shareholders who have 100 Eveready shares,sending a dividnd cheques even for values as low as ksh.20
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Jamani
#24 Posted : Sunday, February 06, 2011 8:20:07 AM
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Posts: 1,554
Ericsson wrote:
Yes that is why listed comapnies were complaining that the ACT needs to be ammended since it was very expensive for them to hold AGMs.
talk about providing lunch/meal to shareholders,sending to all shareholders a booklet of the Annual report even for shareholders who have 100 Eveready shares,sending a dividnd cheques even for values as low as ksh.20


I doubt it talks specifically about lunch, yes the holding of meetings and printing of reports has been and issue and this is covered in the ACT, but i doubt lunch is.
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  | | Edit by user: Sunday, February 06, 2011 8:25 AM | Reason: Not specified
Ericsson
#25 Posted : Sunday, February 06, 2011 8:27:48 AM
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Basically the Company is expected to feed the shaeholders
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Jamani
#26 Posted : Sunday, February 06, 2011 9:01:13 AM
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Joined: 9/12/2006
Posts: 1,554
Ericsson wrote:
Basically the Company is expected to feed the shaeholders

Wacha porojo wewe! its no where in the act for companies to feed its shareholders, its just that companies made it on thier own to add food after meetings to appease its shareholders and some go as far as giving umbrellas, calenders T-shirts etc, these are not in the act. it could be PR or marketing or something else but not in the act.
Thats the reason safcom decided not to have these but comply with the act for the annual general meeting as is stipulated.
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  | | Edit by user: Sunday, February 06, 2011 9:07 AM | Reason: Not specified
sparkly
#27 Posted : Sunday, February 06, 2011 9:47:07 AM
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Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Ericsson wrote:
Safaricom had a no frills AGM in their first AGM and this was contrary to the Companies Act which stated that in an AGM a company should provide lunch to the shareholders.
Were they fined/prosecuted NO.

weee dont be a blonde, in this section blondness is not tolerated.
Life is short. Live passionately.
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Gordon Gekko
#28 Posted : Sunday, February 06, 2011 2:02:29 PM
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Joined: 5/27/2008
Posts: 3,760
@sparkly, wacha fitina. According to the Companies Act cap 485 (shareholder Chami's version), the host must provide lunch, tshirt, bag, newspapers (for NMG), a night for 2 (for TPSEA), one year comprehensive car insurance (for Jubilee), one sock airtime (for safaricom) etc etc
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VituVingiSana
#29 Posted : Tuesday, February 08, 2011 7:41:44 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,351
Location: Nairobi
http://www.businessdaily.../-/1opm5pz/-/index.html

So SafCon spends way more (3x) than Airtel on ads & marketing... Seems at least Airtel 'spends' cash on its customers [lower calling charges] instead of the constant & tiring 'Niko na...' campaign!!!

Safaricom increased its advertising spend by 73 per cent to Sh5.7 billion last year as the ongoing price war pushed it to invest more in brand visibility.

Data from Synovate shows that Safaricom’s top rival, Airtel, also grew its marketing spend from Sh1 billion to Sh1.9 billion in 2010
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Jamani
#30 Posted : Tuesday, February 08, 2011 8:16:33 AM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
VituVingiSana wrote:
http://www.businessdailyafrica.com/Corporate%20News/Mobile%20firms%20rivalry%20boosts%20spending%20on%20publicity/-/539550/1103344/-/1opm5pz/-/index.html

So SafCon spends way more (3x) than Airtel on ads & marketing... Seems at least Airtel 'spends' cash on its customers [lower calling charges] instead of the constant & tiring 'Niko na...' campaign!!!

Safaricom increased its advertising spend by 73 per cent to Sh5.7 billion last year as the ongoing price war pushed it to invest more in brand visibility.

Data from Synovate shows that Safaricom’s top rival, Airtel, also grew its marketing spend from Sh1 billion to Sh1.9 billion in 2010


And we gain as Scanad shareholderssmile
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  | | Edit by user: Tuesday, February 08, 2011 11:33 AM | Reason: Not specified
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