Wazua
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Kenya Airways...why ignore..
Rank: Elder Joined: 12/7/2012 Posts: 11,908
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maka wrote:littledove wrote:obiero wrote:littledove wrote:i can see "KQ Lenders Company" is trending on twitter but the sad thing is many kenyans lack information of why the banks have found themselves being shareholders.
To me the biggest issue is nobody have disclosed the real share price which the banks were allocated shares, only few rumours and theories of how they will be divided then multiplied or doubled etc
Bure kabisa! Page 12 of this document clearly states the execution price www.winda.co.ke/projectsafari.pdf well i have checked the attachment and the explanation is on page 22 to 24 (5.4) but i don't know whether to blame my english teacher or the mathematics one, im not clacking anything, why should they make something of public interest that hard  If you are in any doubt about the action to be taken, you are recommended to seek immediately your own personal advice from your stockbroker, bank manager, lawyer or other professional adviser.  They also dont know whats happening  Including @obiero In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 6/23/2009 Posts: 13,488 Location: nairobi
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maka wrote:littledove wrote:obiero wrote:littledove wrote:i can see "KQ Lenders Company" is trending on twitter but the sad thing is many kenyans lack information of why the banks have found themselves being shareholders.
To me the biggest issue is nobody have disclosed the real share price which the banks were allocated shares, only few rumours and theories of how they will be divided then multiplied or doubled etc
Bure kabisa! Page 12 of this document clearly states the execution price www.winda.co.ke/projectsafari.pdf well i have checked the attachment and the explanation is on page 22 to 24 (5.4) but i don't know whether to blame my english teacher or the mathematics one, im not clacking anything, why should they make something of public interest that hard If you are in any doubt about the action to be taken, you are recommended to seek immediately your own personal advice from your stockbroker, bank manager, lawyer or other professional adviser. They also dont know whats happening Only two things remains unknown, being the Open Offer price and book closure date. These two are key and only the brave should attempt to trade at this moment before full disclosure
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder You have been a member since:: 12/4/2009 Posts: 10,667 Location: NAIROBI
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http://www.businessdaily...4746-dbqixgz/index.html
"The debt restructuring plan that was first mooted in June has been agreed following long negotiations which saw one bank, Jamii Bora, opt out of converting their loan, and instead choosing to receive their dues over a five year period". Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Ericsson wrote:http://www.businessdailyafrica.com/corporate/companies/Govt-banks-control-87-per-cent-Kenya-Airways/4003102-4184746-dbqixgz/index.html
"The debt restructuring plan that was first mooted in June has been agreed following long negotiations which saw one bank, Jamii Bora, opt out of converting their loan, and instead choosing to receive their dues over a five year period". After their experience with Uchumi In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 6/23/2009 Posts: 13,488 Location: nairobi
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Angelica _ann wrote:Ericsson wrote:http://www.businessdailyafrica.com/corporate/companies/Govt-banks-control-87-per-cent-Kenya-Airways/4003102-4184746-dbqixgz/index.html
"The debt restructuring plan that was first mooted in June has been agreed following long negotiations which saw one bank, Jamii Bora, opt out of converting their loan, and instead choosing to receive their dues over a five year period". After their experience with Uchumi JBB have sold themselves short.. KQ shares will more likely go up than down in the short term. Half year results are out this week, showing massive improvement
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder You have been a member since:: 12/4/2009 Posts: 10,667 Location: NAIROBI
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Treasury expects KQ to be stable and return to Profitability within 10 years Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 5/29/2016 Posts: 898 Location: Nairobi
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Ericsson wrote:Treasury expects KQ to be stable and return to Profitability within 10 years Fair estimate. It depends largely on the people managing. If Sebastian get it right and stay for long enough then we are sorted.
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Rank: Elder Joined: 6/23/2009 Posts: 13,488 Location: nairobi
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ArrestedDev wrote:Ericsson wrote:Treasury expects KQ to be stable and return to Profitability within 10 years Fair estimate. It depends largely on the people managing. If Sebastian get it right and stay for long enough then we are sorted. 10 years estimation comes directly from the gutter press. The Chair mentioned that this should happen in less than 12 months https://youtu.be/RZxQy9fGUH0
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder You have been a member since:: 12/4/2009 Posts: 10,667 Location: NAIROBI
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Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ways-debt-to-equity-swapWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,488 Location: nairobi
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Ericsson wrote:Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ays-debt-to-equity-swap
So which paragraph points to the alleged 10 years..
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,488 Location: nairobi
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Angelica _ann wrote:maka wrote:littledove wrote:obiero wrote:littledove wrote:i can see "KQ Lenders Company" is trending on twitter but the sad thing is many kenyans lack information of why the banks have found themselves being shareholders.
To me the biggest issue is nobody have disclosed the real share price which the banks were allocated shares, only few rumours and theories of how they will be divided then multiplied or doubled etc
Bure kabisa! Page 12 of this document clearly states the execution price www.winda.co.ke/projectsafari.pdf well i have checked the attachment and the explanation is on page 22 to 24 (5.4) but i don't know whether to blame my english teacher or the mathematics one, im not clacking anything, why should they make something of public interest that hard If you are in any doubt about the action to be taken, you are recommended to seek immediately your own personal advice from your stockbroker, bank manager, lawyer or other professional adviser. They also dont know whats happening Including @obiero Shindwe! 😆
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Chief Joined: 1/3/2007 Posts: 18,084 Location: Nairobi
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obiero wrote:Angelica _ann wrote:Ericsson wrote:http://www.businessdailyafrica.com/corporate/companies/Govt-banks-control-87-per-cent-Kenya-Airways/4003102-4184746-dbqixgz/index.html
"The debt restructuring plan that was first mooted in June has been agreed following long negotiations which saw one bank, Jamii Bora, opt out of converting their loan, and instead choosing to receive their dues over a five year period". After their experience with Uchumi JBB have sold themselves short.. KQ shares will more likely go up than down in the short term. Half year results are out this week, showing massive improvement 1) Does JBB get monthly repayments of interest? 2) Does JBB get monthly repayments of principal? [Reducing Balance] 3) Does JBB have to wait the full 5 years before it gets paid anything? 4) Can KQ Lenders Co sell KQ shares ASAP? [Is there a lock-in period?] 5) Can an individual bank e.g. Equity sell its portion of KQ shares without the need for the others to do so? 6) Does this mean banks will have to take a write-down on the loans? [Was there a haircut?] 7) Will banks have to take this out of their Capital? [Does CBK/IFRS consider this a loan or investment?] 8) Will KQ be in a position to pay dividends until the debt:equity ratio improves substantially? 9) How much more debt does KQ owe GoK? 10) How much more debt does KQ owe the banks? Anyway, I am happy with my firms that have made reduced profits or even a loss BUT still pay a dividend! I do wish Sebastian and Joseph the best since KQ needs to stop eating the fruit of others' labor. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder You have been a member since:: 12/4/2009 Posts: 10,667 Location: NAIROBI
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obiero wrote:Ericsson wrote:Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ays-debt-to-equity-swap
So which paragraph points to the alleged 10 years.. It was in the prime time news yesterday Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder You have been a member since:: 12/4/2009 Posts: 10,667 Location: NAIROBI
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Eleven local banks are set to be the second largest shareholders of national carrier Kenya Airways after forming a special purpose vehicle to acquire shares in the airline. As part of a bold restructuring plan, the banks will convert part of loans issued to Kenya Airways to acquire a 38.1% stake. This follows a deal proposed by the airline that will see the banks convert Ksh 17.3 billion (US$167.24 million) of the Ksh 22.5 billion (US$217.2 million) in loans issued to the airline into equity by acquiring 2.2 billion ordinary shares of Kenya Airways. The shares will be owned by a new special purpose vehicle called KQ Lenders Company managed by Minerva Fiduciary Services from Mauritius. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/4/2016 Posts: 1,996 Location: Kitale
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Ericsson wrote:obiero wrote:Ericsson wrote:Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ays-debt-to-equity-swap
So which paragraph points to the alleged 10 years.. It was in the prime time news yesterday Good riddance of KLM.They are responsible for the downfall of KQ.This is a right move that will enable the airline to stand on its feet. Towards the goal of financial freedom
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Rank: Elder You have been a member since:: 12/4/2009 Posts: 10,667 Location: NAIROBI
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Ebenyo wrote:Ericsson wrote:obiero wrote:Ericsson wrote:Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ays-debt-to-equity-swap
So which paragraph points to the alleged 10 years.. It was in the prime time news yesterday Good riddance of KLM.They are responsible for the downfall of KQ.This is a right move that will enable the airline to stand on its feet. KQ still needs KLM.KLM isn't responsible actually they helped KQ so much when they labour issues with cabin crews and pilots. KQ's downfall causes have already been discussed in earlier posts Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,084 Location: Nairobi
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Ebenyo wrote:Ericsson wrote:obiero wrote:Ericsson wrote:Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ays-debt-to-equity-swap
So which paragraph points to the alleged 10 years.. It was in the prime time news yesterday Good riddance of KLM.They are responsible for the downfall of KQ.This is a right move that will enable the airline to stand on its feet. KLM wasn't the problem. The crooks running KQ were the problem. Naikuni, Mbugua and their crooked friends. Brian Presbury turned around KQ. Naikuni and his cronies destroyed it financially. Ngunze was handed a poisoned chalice. Sebastian and Joseph are now running the show. I wonder if minority shareholders should agree to Kenyans running KQ again after Joseph and Mikosz revive it. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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VituVingiSana wrote:Ebenyo wrote:Ericsson wrote:obiero wrote:Ericsson wrote:Kenya’s government and domestic lenders agreed to convert $405.3 million of Kenya Airways Plc debt into equity, giving the state a controlling stake and diluting other shareholders including Air France-KLM. The government, which has given Kenya Airways shilling and U.S.-dollar loans totaling $238.1 million, will increase its stake to 48.9 percent from 29.8 percent, according to statements published in the Nairobi-based Standard newspaper on Monday. Lenders owed $217.2 million will convert part of that debt into a 38.1 percent holding. “The government of Kenya shall acquire effective control in Kenya Airways and it shall make an application to the Capital Markets Authority for exemption from the take-over requirements in compliance with the Take-overs regulations,” Treasury Secretary Henry Rotich said. In addition to the debt-for-equity swap, the government and Kenya Airways entered a convertible-loan agreement for a remaining portion of state loans that will result in the issue of more shares at a future date, according to the statement. A similar agreement was reached with banks, whose stake will be housed in a company known as KQ Lenders Co., for $50 million of outstanding debt. https://www.bloomberg.co...ays-debt-to-equity-swap
So which paragraph points to the alleged 10 years.. It was in the prime time news yesterday Good riddance of KLM.They are responsible for the downfall of KQ.This is a right move that will enable the airline to stand on its feet. KLM wasn't the problem. The crooks running KQ were the problem. Naikuni, Mbugua and their crooked friends. Brian Presbury turned around KQ. Naikuni and his cronies destroyed it financially. Ngunze was handed a poisoned chalice. Sebastian and Joseph are now running the show. I wonder if minority shareholders should agree to Kenyans running KQ again after Joseph and Mikosz revive it. True...100% possunt quia posse videntur
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Rank: Elder You have been a member since:: 12/4/2009 Posts: 10,667 Location: NAIROBI
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Share price down 9.91% today Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,488 Location: nairobi
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Ericsson wrote:Share price down 9.91% today Really?? I see a different figure..
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Kenya Airways...why ignore..
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