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What a Joke!!! The Capital Markets Authority!
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VituVingiSana
#11 Posted : Sunday, May 26, 2013 12:41:07 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Why should SHAREHOLDERS [not the Board or Directors or Management] of Centum suffer for a mistake by the Board/Directors/Management? Why should a shareholder, with no voice, suffer for something s/he has no control over?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Penny-Stocker
#12 Posted : Sunday, May 26, 2013 12:41:55 AM
Rank: Member

Joined: 10/31/2010
Posts: 154



Its also the same fellas who went ahead to appoint James Mworia as a member of CMA Corporate Governance Committee after he had blatantly abused the CMA rules #Impunity_at_its_best[/quote]
And Centum also won a governance awardLaughing out loudly
#YouCan'tMakeThisStuffUp
[/quote]
Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
“None but ourselves can free our minds.”
- Bob Marley
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MaichBlack
#13 Posted : Sunday, May 26, 2013 8:26:38 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,838
VituVingiSana wrote:
Why should SHAREHOLDERS [not the Board or Directors or Management] of Centum suffer for a mistake by the Board/Directors/Management? Why should a shareholder, with no voice, suffer for something s/he has no control over?

Very good point @vvs. Actually CMA's reasoning has bothered me for some time.

When the board/management refuses to announce a profit warning they actually deny investors a chance to make informed decisions. When C.M.A. fines the COMPANY they are actually making the same investor pay for being denied the information! Ridiculous!!! The board and senior management should be held PERSONALLY responsible. They should be fined and most importantly BANNED from holding any position in a publicly listed company for a period of time - two years minimum! Now that's a language they would understand.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Ilikeyou
#14 Posted : Sunday, May 26, 2013 4:06:51 PM
Rank: Member

Joined: 11/21/2007
Posts: 152
Location: Nairobi
VituVingiSana wrote:
Why should SHAREHOLDERS [not the Board or Directors or Management] of Centum suffer for a mistake by the Board/Directors/Management? Why should a shareholder, with no voice, suffer for something s/he has no control over?


I attended AGM last Year at Two Rivers ground & James Mworia indicated that though they were fined 50k by CMA the money was paid by directors and not from company funds.
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