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Olympia 2008-9 Results

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Mainat		#71 Posted : Tuesday, June 23, 2009 8:03:00 PM
Rank: Veteran Joined: 11/21/2006 Posts: 1,590		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 Sehemu ndio nyumba
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mukiha		#72 Posted : Wednesday, June 24, 2009 6:20:00 AM
Rank: Elder Joined: 6/27/2008 Posts: 4,114		@Vituvingisana; Your broker is a joker!! Tell them that for me please. When you posted that OCH has been suspended,I sent a query to NSE and here is their reply: 'Olympia Capital has not been suspended from trading,nevertheless theyhave issued some cautionary information ( available on our websitewww.nse.co.ke' Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow) Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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VituVingiSana		#73 Posted : Wednesday, June 24, 2009 6:41:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi		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 Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Hi-Lo		#74 Posted : Wednesday, June 24, 2009 6:47:00 AM
Rank: Member Joined: 10/5/2007 Posts: 91		@mukiha...it was suspended on 22/6 mid-session under rule 9.4.2(iii)...suspension lifted 23/6 mid-session once Cautionary Statement was received...info all over data streams... Playing the stock market without insider info...is like buying a cow in the moonlight.
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Lawman		#75 Posted : Wednesday, June 24, 2009 7:10:00 AM
Rank: Member Joined: 12/14/2006 Posts: 12		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
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VituVingiSana		#76 Posted : Wednesday, June 24, 2009 7:16:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi		I am surprised it has held up at 9.80... @lawman try CRS Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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kodak		#77 Posted : Wednesday, June 24, 2009 7:43:00 AM
Rank: Member Joined: 10/4/2007 Posts: 30		@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
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VituVingiSana		#78 Posted : Wednesday, June 24, 2009 8:14:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi		The worst may be over but the counter has dropped to 8.85... I am waiting for the results to see what the write-offs will be. And then take it from there. Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Iborian		#79 Posted : Wednesday, June 24, 2009 8:20:00 AM
Rank: Member Joined: 4/17/2009 Posts: 194		@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.
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Hi-Lo		#80 Posted : Wednesday, June 24, 2009 11:54:00 AM
Rank: Member Joined: 10/5/2007 Posts: 91		Seems the investment lost by Olympia.ke in Plush.rsa is minimal...about Ksh 32m... Plush purchased at Ksh 184.4m Financed by debt Ksh 67.2m (sheriff moved in last Sunday to pay self from assets) Plush shareholders Ksh 117.2 (OCC pay 74% of this; minority 26%) therefore OCC.bot investment in Plush Ksh 86.73m (entirely lost!!) OCHL interest in OCC is 50% or so,hence loses Ksh 32m 'only'...keep trading ...the Sheriff (sounds like a greco-roman sword warrior or viceroy) made a killing though...all those assets for a song... Playing the stock market without insider info...is like buying a cow in the moonlight.
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