A couple of things. The Olympia website is back up. Contacts are Tel: +254 020 2716222 or 651311
Email: info@dunvon.com. Some shareholder should try and confirm when it'll announce its results. It has to be within then next 7 days. Olympia's sub in Botswana was trading yesterday. Finally,yesterday trading volumes were large and remind me of a certain counter starting with U. Don't agree to be left holding the empty plate. Look to buy at a lower price.

www.mjengakenya.blogspot.com

U is for Uchumi

www.mjengakenya.blogspot.com

Olympia Capital Holdings Limited (OCHL) owns 51% of Olympia Capital Corporation Limited (OCC),a
company listed on the Botswana Stock Exchange. In December 2006,OCC purchased 74% of Plush
Products (pty) Limited (Plush).

For the fnancial periods ended December 2006,February 2008 and February 2009,Plush did not
contributed positively to the bottom line of the group. From September 2008,following the slipping
of the South African economy into a recession,we saw a signifcant drop in our sales that made the
company go into a loss making situation.

We believe in the products and the market,but not the model to market that we have used to date.
A decision has been made to close the company,sell the assets to meet our obligations and consider
re-entering the market with a leaner model.

The closure of Plush will not have any negative effect on the operational group proftability,however
we will only tell with time the effect that the loss of the actual investment will have on our group
balance sheet.

Michael Matu
Chief Executive

23rd June 2009

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB

My broker just told me that Olympia is trading at 9.80 (which is higher than yesterday's close) and the feeling is that the loss as regards to Plush has been contained though the details are sketchy. No word on the release of the results. I just hope Plush - which never contributed to the bottomline - is just a blip.

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB

Now we hope OCC abandons it's old ways...'buying dying companies and turning them around'...anyways cash is now finished..

Playing the stock market without insider info...is like buying a cow in the moonlight.

Mwanahisa and other accounting types,isn't this plush-thingy colapse a post-balance sheet adjusting event for Olympia with almost the whole Ksh160m that Olympia paid for Plush being written off?

www.mjengakenya.blogspot.com

Mukiha,he told me suspension on MONDAY starting at 11am. Trading commenced on Tuesday after the 'cautionary statement' was made public. I believe my broker for now...

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB

Hi Sk'ers

Anyone know the registrar of Olympia shares .... need to follow up on my expired cheque for the last dividend (six month lapse clause on the cheque).

Cheers

@VVS
You should not be surprised. OCHL will be among the very few counters,no more that 5 that will be on the positive side by COB today,24-June.
It will take the year end results to bring the price down. This is the counter to be in during a mini-bear run.
Please let no SK member jump in now.

MMijinjo

@Kodak,stop deluding yourself. The few people still buying into Olympia are either those who do not know the latest OR Worse they could be people who are in the stock and want to prevent it from crashing so that they can EXIT. If any SELL ORDER of like 50,000 shares magintude were to be placed,let's see whether they would buy. That would be the real test.

Truth be told,this is a company whose management have proven to be incompetent. Going into the South Africa residential mkt during a recession does not appear tohave been a stroke of genius. Kodak,tell us one BIG decision that Matu &Co have got right in the last 5 years,other than the RIGHTS ISSUE,where they only JUST succeeded because of the then prevailing bull market. And now see how they have degraded the money they raised from UNSUSPECTING shareholders. If you want to have anything left over for your grandchildren,SELL this counter (you will be lucky if you can),then RUN and do not LOOK BACK.