Wazua
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CMC MOTORS Boardroom Wars
Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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BREAKING NEWS!!!!! Following a directive from CMA, Kindly note that CMC Holdings Ltd has been suspended with immediate effect for a period of seven days. Kindly be advised accordingly. History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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These is not good news at all.
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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the deal wrote:Firms with Governance issues are very bad...look how marshalls has gone down...the same might happen to CMC...this Mr Muthoka guy was the right man for job atleast he knows the business...the appreciation in the share was because of Andy forwaders accumulating shares in anticipation of this board room wars...the moment I realised that I sold my lil shares btwn whats CMC without GoK and Andy Forwaders? Suspended i'm glad i'm outta this damn thing!!!!
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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the deal wrote:No fundamentals to support any ralley here...the weak Sh is screwing this guys...anybody remember that year when they won the huge Passat tender yet they reported a drop in profits? The recent price movememt was due to one top 10 shareholdeer accumulating more shares. Wazua start listening.
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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The potential for nonsense here is unlimited Sehemu ndio nyumba
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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Let's wait and see what the CMA does in these 7 days.
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Rank: Member Joined: 8/14/2009 Posts: 244
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will those keeping our money in jersey be arrested?
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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There might be an erroneous assumption that Bill Lay is telling the truth... Sehemu ndio nyumba
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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@ Mainat- why will Bill Lay give us false information. I am sure he must have shown other board members all the evidence before they took this step. Andy Forwarders was overcharging CMC by around 500 million every year its a lot in term of lost dividends.
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Rank: Member Joined: 11/25/2006 Posts: 14
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Jeeez - anybody know how many units (vehicles & trucks) CMC brings in yearly and how much clearing costs for high end motor vehicles -looks like this Muthoka dude - was truly a "kupe"
I wonder if Andy's other lucrative customer deals i.e safcom will be dropped / renegotiated in light of this discoveries
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CMC MOTORS Boardroom Wars
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