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Kengen FY16
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karasinga
#211 Posted : Thursday, February 23, 2017 2:43:49 PM
Rank: Veteran

Joined: 2/26/2015
Posts: 1,147
moneydust wrote:
karasinga wrote:
moneydust wrote:
Spikes wrote:
cnn wrote:
Public investment Corporation Ltd for South African Government employees pension fund to be allotted 351 million ordinary shares in Kengen @ 6.55


Are you implying further dilution?



This is not good...how can they do that without consulting the shareholders,not that it would matter with GOK being majority shareholder.
It sends terrible signals about this company...

That's why I think for anyone to be good in fundamentals you need to do a lot of homework- charts don't lie. The Insiders will always leave their foot prints for us to interpret.
best wishes


I wonder who has been buying truckloads of these shares at 6.55.Me thinks, someone was shoring up this stock to justify the sale at the same price to the South Africans.My decision to exit might not have been bad after all.

most probable reasons for such movements were previously listed here.
It's not over until I win
skype id: karasinga. email: kkarasinga@gmail.com
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ngapat
#212 Posted : Thursday, February 23, 2017 3:28:55 PM
Rank: Veteran

Joined: 12/11/2006
Posts: 930
karasinga wrote:
moneydust wrote:
karasinga wrote:
moneydust wrote:
Spikes wrote:
cnn wrote:
Public investment Corporation Ltd for South African Government employees pension fund to be allotted 351 million ordinary shares in Kengen @ 6.55


Are you implying further dilution?



This is not good...how can they do that without consulting the shareholders,not that it would matter with GOK being majority shareholder.
It sends terrible signals about this company...

That's why I think for anyone to be good in fundamentals you need to do a lot of homework- charts don't lie. The Insiders will always leave their foot prints for us to interpret.
best wishes


I wonder who has been buying truckloads of these shares at 6.55.Me thinks, someone was shoring up this stock to justify the sale at the same price to the South Africans.My decision to exit might not have been bad after all.

most probable reasons for such movements were previously listed here.

They should buy from the market
“Invest in yourself. Your career is the engine of your wealth.”
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Ericsson
#213 Posted : Thursday, February 23, 2017 4:42:54 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
moneydust wrote:
Spikes wrote:
cnn wrote:
Public investment Corporation Ltd for South African Government employees pension fund to be allotted 351 million ordinary shares in Kengen @ 6.55


Are you implying further dilution?



This is not good...how can they do that without consulting the shareholders,not that it would matter with GOK being majority shareholder.
It sends terrible signals about this company...


Reason was to match the funding gap/get the difference in the cash call which fell short of the Sh28.7 billion target.

Rink of the number of untaken rights
http://www.rich.co.ke/me...ublic%20Announcement.pdf
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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  | | Edit by user: Thursday, February 23, 2017 5:22 PM | Reason: Not specified
Ebenyo
#214 Posted : Thursday, February 23, 2017 5:11:34 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Rule no 1 never loose money
Rule no 2 dont forget rule no 1
Towards the goal of financial freedom
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moneydust
#215 Posted : Thursday, February 23, 2017 5:52:29 PM
Rank: Member

Joined: 1/31/2007
Posts: 304
Ericsson wrote:
moneydust wrote:
Spikes wrote:
[quote=cnn] Public investment Corporation Ltd for South African Government employees pension fund to be allotted 351 million ordinary shares in Kengen @ 6.55


Are you implying further dilution?



This is not good...how can they do that without consulting the shareholders,not that it would matter with GOK being majority shareholder.
It sends terrible signals about this company...


Reason was to match the funding gap/get the difference in the cash call which fell short of the Sh28.7 billion target.

Rink of the number of untaken rights
http://www.rich.co.ke/me...blic%20Announcement.pdf[/quote]

Did they tell the public that they will be looking for a buyer for these shares??
This amounts to an unannounced dilution.
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Ericsson
#216 Posted : Thursday, February 23, 2017 7:06:41 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
moneydust wrote:
Ericsson wrote:
moneydust wrote:
Spikes wrote:
[quote=cnn] Public investment Corporation Ltd for South African Government employees pension fund to be allotted 351 million ordinary shares in Kengen @ 6.55


Are you implying further dilution?



This is not good...how can they do that without consulting the shareholders,not that it would matter with GOK being majority shareholder.
It sends terrible signals about this company...


Reason was to match the funding gap/get the difference in the cash call which fell short of the Sh28.7 billion target.

Rink of the number of untaken rights
http://www.rich.co.ke/me...blic%20Announcement.pdf[/quote]

Did they tell the public that they will be looking for a buyer for these shares??
This amounts to an unannounced dilution.


It was stated in the information memorandum.
Problem is most kenyans don't read the details
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#217 Posted : Thursday, February 23, 2017 9:00:06 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
http://www.businessdaily...706-10xt67uz/index.html

Good news for KenGen the Company which needs this cash. On the other hand, folks bought Rights Shares at 6.55 [opportunity cost] months ago. No dividend. That 6.55 could have earned interest for those months but...

It would not have made sense for the Pension Fund nor KenGen to buy from the market. KenGen wanted the cash. The Pension Fund ends up with shares worth more i.e. better to give the cash to KenGen to fund the business rather than simply "transfer" cash.

The Pension Fund can always buy more shares [& is likely to do so] from the market.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#218 Posted : Friday, February 24, 2017 12:37:35 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
That's a better deal than borrowing.
The amount of money they would have spent as interest payment they can give shareholders as dividend.
Issued shares now rises from 6,243,843,779 to 6,595,084,368
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#219 Posted : Friday, February 24, 2017 8:26:07 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale

i think there is no cause for alarm.those were the shares which were left during the rights issue.its also a vote of confidence for kengen from an outside pension fund.But who hyped the market with huge volumes before this info was out?
I missed dividends last year and i was very angry.Since my current abp is 6.40,i can easily bolt out of here into another counter im sure of dvds.i might wait for october FY 16results or if the share hits 7.00 i get out.

Towards the goal of financial freedom
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  | | Edit by user: Friday, February 24, 2017 8:40 AM | Reason: Not specified
sparkly
#220 Posted : Friday, February 24, 2017 2:50:27 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
VituVingiSana wrote:
http://www.businessdailyafrica.com/corporate/KenGen-sell-5pc-stake-South-Africa-pension-fund/539550-3824706-10xt67uz/index.html

Good news for KenGen the Company which needs this cash. On the other hand, folks bought Rights Shares at 6.55 [opportunity cost] months ago. No dividend. That 6.55 could have earned interest for those months but...

It would not have made sense for the Pension Fund nor KenGen to buy from the market. KenGen wanted the cash. The Pension Fund ends up with shares worth more i.e. better to give the cash to KenGen to fund the business rather than simply "transfer" cash.

The Pension Fund can always buy more shares [& is likely to do so] from the market.


Not enough float in the market. They would have to buy out the 2,3,4 and 5th largest shareholders.
Life is short. Live passionately.
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