Centum was cheaper when i bought it at 12bob

What its is net asset value

I hope this land business will not turn out as a misadventure like the Uchumi expansion... Its the same management (Directors) we are dealing with here.

My feeling is that the company should have made a capital call/ rights issue, obtained a loan or issued a bond for the land project.

I don't think that it is wise for them to withdraw capital from other business lines that have served the shareholders well over the years, to invest in the land.

Of course. But that is the same for every company. No business is assured, there is an element of risk in every venture

On the rights issue, I believe there are plans for one to be done in conjuction with bank loans.
http://www.businessweek....ases-cash-holdings.html

28.5bob per share...