http://www.businessdaily...1/-/88b0o2/-/index.html

5:1 split + reverse takeover
Mouth watering share actions.

"Under the deal, shareholders in the larger I&M Bank will be offered 13.62 shares in the investment firm for every share they hold in the bank in what will see the investors granted 363,722,034 new City Trust shares, according to the offer document seen by the Business Daily."

"The new shares will be offered after the split of the stock into five parts"

"“City Trust shares are trading at a discount, this being attributed to the indirect holding of the bank shares,” says the offer document."

"City Trust had a market value of Sh2.2 billion Tuesday compared to the bank’s valuation of about Sh40 billion."

So if I am reading this right, the value of CTL's existing shares + new shares = KShs 40 Billion. Currently City Trust has 2,097,458 shares to be split 5:1.

40,000,000,000 / (363,722,034+(2,097,458*5)) = 102/- per share.
Current price is 400 pre-split = 80 post-split. Can it rally 25% like ARM?

Split was easy to figure out. At every AGM for years the same question/demand from shareholders. Price is high. Bonus/Split demands. This should have been 20:1 to bring it line with KCB/Equity/Barclays but they went with DTB/SCBK.
As for the name change. Easy. When the 'big brother' with a bigger name [I&M Bank, I&M Tanzania, etc] is in charge, it will happen. Who knows City Trust? How many know I&M?

BTW, BCR in Rwanda is now "BCR, An I&M Bank Group Company"

Amen!

Hmmm, if the price should be 1,400 as claimed/calculated by D&B in the Circular then 60% in 2.5 years?