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Rea Vipingo takeover at 40/= per share
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Pesa Nane
#21 Posted : Friday, November 15, 2013 1:45:20 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
CAN'T SELL, WON'T SELL
mine are worth Ksh.100 EACH
Pesa Nane plans to be shilingi when he grows up.
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mnunuzi
#22 Posted : Saturday, November 16, 2013 8:51:37 AM
Rank: New-farer

Joined: 11/15/2013
Posts: 34
Pesa Nane wrote:
CAN'T SELL, WON'T SELL
mine are worth Ksh.100 EACH


Isn't it a majority shareholder decision to sell, Or you have right of refusal?
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cnn
#23 Posted : Saturday, November 16, 2013 12:49:32 PM
Rank: Veteran

Joined: 6/17/2009
Posts: 1,627
Retained earnings as at 31st March was at 1.57 billion shillings,which is about 25 shillings per share.
Land at Vipingo...10 500 acres,@ 10 million shillings per acre translates to kSh 1750 per share.
Land at Kibwezi...4,280 acres....what is the value of land around Kibwezi.?.....the land in Kenya converted to 99 year leases from Aug 2010.
Land in Tanzania....36,600 acres.
The company has very little debt,about 80 million shillings is the borrowing by half year 2013.
I do not believe the 5,641 local individual shareholders who own 31.29% of the company shares (Sep 2012) should accept a 40 bob deal.
The number of shares not held by Rea holdings,Rea Trading Ltd and H.R Cuthbert is 23 426 154 for which they want to pay 937 million shillings after which they will be left with all the above land,retained earnings and all other potential the land may hold.
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  | | Edit by user: Saturday, November 16, 2013 1:18 PM | Reason: Not specified
Pesa Nane
#24 Posted : Saturday, November 16, 2013 2:35:45 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
mnunuzi wrote:
Pesa Nane wrote:
CAN'T SELL, WON'T SELL
mine are worth Ksh.100 EACH


Isn't it a majority shareholder decision to sell, Or you have right of refusal?

Will hold on until physically ejected. NO DEAL.
Pesa Nane plans to be shilingi when he grows up.
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BGL
#25 Posted : Tuesday, December 03, 2013 9:14:10 AM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
CENTUM makes a COMPETING counter offer of 50bob for all the shares it does not hold including the shares held by Robinow brothers.

As at today Centum hold 296,500 shares of RVP aka Robin Van Persie pardon me Rea Vipingo.

Hii itakuwa kama BOC/Carbacid only that the shareholder will be the ultimate beneficiary.
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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  | | Edit by user: Tuesday, December 03, 2013 9:21 AM | Reason: Not specified
muganda
#26 Posted : Tuesday, December 03, 2013 10:16:29 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Now now does Centum have the wherewithal to run ReaVipingo if founders leave?
Or maybe an effort to raise the takeover consideration they obtain?
Or an undercover agreement with the brothers?
Perhaps another Centum share price summersault!
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stocksmaster
#27 Posted : Tuesday, December 03, 2013 10:24:15 AM
Rank: Member

Joined: 9/26/2006
Posts: 463
Location: CENTRAL PROVINCE
muganda wrote:
Now now does Centum have the wherewithal to run ReaVipingo if founders leave?
Or maybe an effort to raise the takeover consideration they obtain?
Or an undercover agreement with the brothers?
Perhaps another Centum share price summersault!



Its the land.........I don't think Centum are interested in farming sisal. The over 10000 acres at Rea Vipingo even at a conservative Ksh 1M per acre values the share at about Ksh 200. Factor in Kibwezi and TZ acreage plus the retained earnings minus debts and you realise even Ksh 400 (10 times the initial offer price) would be a steal. The valuation of this company as far as a takeover is concerned should not be based on the 6 months share price average plus some token but on the value of the balance sheet and in particular the land at play.

Am happy Centum is putting in a fight for the locals whose assets are almost going for a song.

Happy hunting.
x handle: @stocksmaster79
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  | | Edit by user: Tuesday, December 03, 2013 10:36 AM | Reason: Not specified
VituVingiSana
#28 Posted : Tuesday, December 03, 2013 11:06:45 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
@stocksmaster - All you said is correct except the bit about 'Retained Earnings' coz the "Retained Earnings" are not locked away or in a bank vault but used (or part of) to buy the land, improvements, etc.

And 50/- is a bargain!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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the deal
#29 Posted : Tuesday, December 03, 2013 12:07:20 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
LOL If the bizarre bid from Centum is all about land then Kenyans are obsessed with land...btwn who is going to back Centum's bid? Centum is just a spoiler and just prolongs the process...
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Ericsson
#30 Posted : Tuesday, December 03, 2013 1:52:32 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Smart move by Centum.It's high time kenyans own the companies and resources in their countries.
Centum a company built by the gava after independence by ICDC and majority owned by Kenyans should be supported in these venture
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