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COOP AGM
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selah
#1 Posted : Friday, May 27, 2011 11:07:36 AM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
I think I will be missing todays AGM can someone update us if you are there.

Especially about the increase in shares and how they will protect us from the imminent dilution.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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the deal
#2 Posted : Friday, May 27, 2011 3:50:23 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
They only expect profits to rise 20% http://mobile.reuters.co...4Q14D20110527?edition=af
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Layman
#3 Posted : Friday, May 27, 2011 4:04:24 PM
Rank: Member

Joined: 9/21/2006
Posts: 422
Location: Nairobi
So we may get rights next year?
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Pedro_Nasinyama
#4 Posted : Friday, May 27, 2011 4:05:47 PM
Rank: New-farer

Joined: 5/11/2011
Posts: 63
Am told they have retrenched a big group of fellas today. Maybe this will push it to 25%. Less staff costs.
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youcan'tstopusnow
#5 Posted : Friday, May 27, 2011 6:44:35 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Pedro_Nasinyama wrote:
Am told they have retrenched a big group of fellas today. Maybe this will push it to 25%. Less staff costs.

They will have to pay these guys. The benefit of such a move may not be felt in the short term
GOD BLESS YOUR LIFE
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selah
#6 Posted : Monday, May 30, 2011 12:02:31 PM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
I finally made it but as it was ending this is what I got.

1.There is no intention of floating any rights anytime soon.They gave a weired explanation as to why they were adding the shares,They said they just wanted the shares available so that when they wanted to increase capital there will be no need of passing the resolution since it would've been passed already.

2.Cooperative bank of South sudan will be in business this year the share holding will be COOP BANK KENYA 70% Government of Southern Sudan 30%.

3.The management is in talks with other EAC member states in starting a corperative movement in those states.plans are in advanced stage to open a coperative bank in Uganda.

4.The management promised to achieve 7 billion in profit in this FY.

I missed alot since I arrived abt 20minutes b4 the end of the AGM .

Am proud of this Kingdom Bank.All its subsidiaries were profitable including kingdom securities.



'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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  | | Edit by user: Monday, May 30, 2011 12:05 PM | Reason: Not specified
Burning Spear
#7 Posted : Monday, May 30, 2011 12:46:21 PM
Rank: Veteran

Joined: 7/22/2008
Posts: 1,139
selah wrote:
I finally made it but as it was ending this is what I got.

1.There is no intention of floating any rights anytime soon.They gave a weired explanation as to why they were adding the shares,They said they just wanted the shares available so that when they wanted to increase capital there will be no need of passing the resolution since it would've been passed already.

2.Cooperative bank of South sudan will be in business this year the share holding will be COOP BANK KENYA 70% Government of Southern Sudan 30%.

3.The management is in talks with other EAC member states in starting a corperative movement in those states.plans are in advanced stage to open a coperative bank in Uganda.

4.The management promised to achieve 7 billion in profit in this FY.

I missed alot since I arrived abt 20minutes b4 the end of the AGM .

Am proud of this Kingdom Bank.All its subsidiaries were profitable including kingdom securities.







very weird indeed....when they want the shares..could be tomorrow or anyother time.Why are they not specific about it?
"You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
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selah
#8 Posted : Monday, May 30, 2011 2:00:48 PM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
@BurningS

The MD or the chairman I cant recall said the non-issued shares will act as a contingency in case the bank requires more capital in future.

I think the management will be using the No. of shares as bragging rights since it has the most shares in the banking industry.I cant find a reason why they would pass a resolution which will will affect the bank in several yrs to come.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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invest0r
#9 Posted : Monday, May 30, 2011 2:45:16 PM
Rank: Member

Joined: 12/15/2010
Posts: 162
Coop needs capital to set its foot outside Kenya. The fact that they have chosen to keep mum on the details of how they will raise the required additional capital will have a negative impact on the share price.
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Aguytrying
#10 Posted : Monday, May 30, 2011 6:37:00 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
invest0r wrote:
Coop needs capital to set its foot outside Kenya. The fact that they have chosen to keep mum on the details of how they will raise the required additional capital will have a negative impact on the share price.


i pray that happens, it will be my way in!!!!!!!!!
The investor's chief problem - and even his worst enemy - is likely to be himself
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