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Unga limited takeover
Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:Closed at 44 with VWAP of 42.50 with 405,000+ shares traded.
The buyers, assuming they are not connected with Seaboard/Victus, must be angling for a better price for the takeover.
Opening up the trading of shares was laudable even though it was clumsily done without proper notice/info from NSE to shareholders. I hope they have learned and the next time they do it better. Meanwhile, congratulations on your investment in UNGA.. You are one lucky bastard Luck has little to do with it. I must have a loooong post somewhere on why I own/held Unga. I admit I am a bit concerned/upset about Corporate Governance [well, not Unga directly but Victus trying to pull one over minority shareholders in concert with Seaboard]... The NAV on the books is KES 50. Add the EPS for 1H 2017-18 [waiting for results by 31st March] and EPS for 2H and that can add 5/-. Plus the last revaluation of "Operating Lease Rentals" was done in 2013 at 878,500,000/-. Most of his is not included in the NAV. Fair Value should be KES 60-80 after adding in other assets that could be revalued. You know an awful lot for someone who can't settle a debt of USD 120! Yes!  Received KShs 12,000 cash money today at 1604 Hrs. I will invest the same in your honour It wasn't easy! but I am glad you got it. Plant a few trees.  @ Obiero pia alipe pesa za wenyewe. He owes @vvs 100k. Wazuan republic is on a lookout to see those who make nasty bets as agonising as pawning and subsequent removal of their kidneys here and honor their pledges. But in this case a hard currency is in large demand and money is expected to change hands. John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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Spikes wrote:VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:Closed at 44 with VWAP of 42.50 with 405,000+ shares traded.
The buyers, assuming they are not connected with Seaboard/Victus, must be angling for a better price for the takeover.
Opening up the trading of shares was laudable even though it was clumsily done without proper notice/info from NSE to shareholders. I hope they have learned and the next time they do it better. Meanwhile, congratulations on your investment in UNGA.. You are one lucky bastard Luck has little to do with it. I must have a loooong post somewhere on why I own/held Unga. I admit I am a bit concerned/upset about Corporate Governance [well, not Unga directly but Victus trying to pull one over minority shareholders in concert with Seaboard]... The NAV on the books is KES 50. Add the EPS for 1H 2017-18 [waiting for results by 31st March] and EPS for 2H and that can add 5/-. Plus the last revaluation of "Operating Lease Rentals" was done in 2013 at 878,500,000/-. Most of his is not included in the NAV. Fair Value should be KES 60-80 after adding in other assets that could be revalued. You know an awful lot for someone who can't settle a debt of USD 120! Yes! Received KShs 12,000 cash money today at 1604 Hrs. I will invest the same in your honour It wasn't easy! but I am glad you got it. Plant a few trees. @ Obiero pia alipe pesa za wenyewe. He owes @vvs 100k. Wazuan republic is on a lookout to see those who make nasty bets as agonising as pawning and subsequent removal of their kidneys here and honor their pledges. But in this case a hard currency is in large demand and money is expected to change hands. Idler
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: 9/20/2015 Posts: 2,811 Location: Mombasa
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obiero wrote:Spikes wrote:VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:Closed at 44 with VWAP of 42.50 with 405,000+ shares traded.
The buyers, assuming they are not connected with Seaboard/Victus, must be angling for a better price for the takeover.
Opening up the trading of shares was laudable even though it was clumsily done without proper notice/info from NSE to shareholders. I hope they have learned and the next time they do it better. Meanwhile, congratulations on your investment in UNGA.. You are one lucky bastard Luck has little to do with it. I must have a loooong post somewhere on why I own/held Unga. I admit I am a bit concerned/upset about Corporate Governance [well, not Unga directly but Victus trying to pull one over minority shareholders in concert with Seaboard]... The NAV on the books is KES 50. Add the EPS for 1H 2017-18 [waiting for results by 31st March] and EPS for 2H and that can add 5/-. Plus the last revaluation of "Operating Lease Rentals" was done in 2013 at 878,500,000/-. Most of his is not included in the NAV. Fair Value should be KES 60-80 after adding in other assets that could be revalued. You know an awful lot for someone who can't settle a debt of USD 120! Yes! Received KShs 12,000 cash money today at 1604 Hrs. I will invest the same in your honour It wasn't easy! but I am glad you got it. Plant a few trees. @ Obiero pia alipe pesa za wenyewe. He owes @vvs 100k. Wazuan republic is on a lookout to see those who make nasty bets as agonising as pawning and subsequent removal of their kidneys here and honor their pledges. But in this case a hard currency is in large demand and money is expected to change hands. Idler Kama wewe kidney gambler ! John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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Spikes wrote:obiero wrote:Spikes wrote:VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:Closed at 44 with VWAP of 42.50 with 405,000+ shares traded.
The buyers, assuming they are not connected with Seaboard/Victus, must be angling for a better price for the takeover.
Opening up the trading of shares was laudable even though it was clumsily done without proper notice/info from NSE to shareholders. I hope they have learned and the next time they do it better. Meanwhile, congratulations on your investment in UNGA.. You are one lucky bastard Luck has little to do with it. I must have a loooong post somewhere on why I own/held Unga. I admit I am a bit concerned/upset about Corporate Governance [well, not Unga directly but Victus trying to pull one over minority shareholders in concert with Seaboard]... The NAV on the books is KES 50. Add the EPS for 1H 2017-18 [waiting for results by 31st March] and EPS for 2H and that can add 5/-. Plus the last revaluation of "Operating Lease Rentals" was done in 2013 at 878,500,000/-. Most of his is not included in the NAV. Fair Value should be KES 60-80 after adding in other assets that could be revalued. You know an awful lot for someone who can't settle a debt of USD 120! Yes! Received KShs 12,000 cash money today at 1604 Hrs. I will invest the same in your honour It wasn't easy! but I am glad you got it. Plant a few trees. @ Obiero pia alipe pesa za wenyewe. He owes @vvs 100k. Wazuan republic is on a lookout to see those who make nasty bets as agonising as pawning and subsequent removal of their kidneys here and honor their pledges. But in this case a hard currency is in large demand and money is expected to change hands. Idler Kama wewe kidney gambler ! Kidney si yako bwana.. 😜
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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sparkly wrote:VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:Closed at 44 with VWAP of 42.50 with 405,000+ shares traded.
The buyers, assuming they are not connected with Seaboard/Victus, must be angling for a better price for the takeover.
Opening up the trading of shares was laudable even though it was clumsily done without proper notice/info from NSE to shareholders. I hope they have learned and the next time they do it better. Meanwhile, congratulations on your investment in UNGA.. You are one lucky bastard Luck has little to do with it. I must have a loooong post somewhere on why I own/held Unga. I admit I am a bit concerned/upset about Corporate Governance [well, not Unga directly but Victus trying to pull one over minority shareholders in concert with Seaboard]... The NAV on the books is KES 50. Add the EPS for 1H 2017-18 [waiting for results by 31st March] and EPS for 2H and that can add 5/-. Plus the last revaluation of "Operating Lease Rentals" was done in 2013 at 878,500,000/-. Most of his is not included in the NAV. Fair Value should be KES 60-80 after adding in other assets that could be revalued. You know an awful lot for someone who can't settle a debt of USD 120! Yes! Received KShs 12,000 cash money today at 1604 Hrs. I will invest the same in your honour Use it to start buying kenol shares! Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Seaboard Corp, the US Conglomerate that recently offered to buyout Unga Group Minority Sharaholders is being investigated by the US Department of Justice for a number of crimes including; *Links to terrorists *Money Laundering *Bribery https://www.businessdail...12092-igfrlpz/index.htmlWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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Ericsson wrote:Seaboard Corp, the US Conglomerate that recently offered to buyout Unga Group Minority Sharaholders is being investigated by the US Department of Justice for a number of crimes including; *Links to terrorists *Money Laundering *Bribery https://www.businessdail...2092-igfrlpz/index.html
@vvs hapa kunaendaja sasa
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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obiero wrote:Ericsson wrote:Seaboard Corp, the US Conglomerate that recently offered to buyout Unga Group Minority Sharaholders is being investigated by the US Department of Justice for a number of crimes including; *Links to terrorists *Money Laundering *Bribery https://www.businessdail...2092-igfrlpz/index.html
@vvs hapa kunaendaja sasa kumbe ni wakora? that means the unga deal will not go through. Towards the goal of financial freedom
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Rank: Chief Joined: 1/3/2007 Posts: 18,098 Location: Nairobi
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obiero wrote:Ericsson wrote:Seaboard Corp, the US Conglomerate that recently offered to buyout Unga Group Minority Sharaholders is being investigated by the US Department of Justice for a number of crimes including; *Links to terrorists *Money Laundering *Bribery https://www.businessdail...2092-igfrlpz/index.html
@vvs hapa kunaendaja sasa Usijali. Tutanunua hisa za Seaboard in a profitable Unga and find other buyers. Or enjoy the earnings. It's tough for US businesses in Africa coz "corruption" is (sadly) a way of life be it in Kenya, Nigeria or South Africa [look at Zuma's dealings]. Trump doesn't want American firms fighting (Chinese/Indian/Turkish/Russian firms) for business with one hand tied at the back so Seaboard will be OK in the end. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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VituVingiSana wrote:obiero wrote:Ericsson wrote:Seaboard Corp, the US Conglomerate that recently offered to buyout Unga Group Minority Sharaholders is being investigated by the US Department of Justice for a number of crimes including; *Links to terrorists *Money Laundering *Bribery https://www.businessdail...2092-igfrlpz/index.html
@vvs hapa kunaendaja sasa Usijali. Tutanunua hisa za Seaboard in a profitable Unga and find other buyers. Or enjoy the earnings. It's tough for US businesses in Africa coz "corruption" is (sadly) a way of life be it in Kenya, Nigeria or South Africa [look at Zuma's dealings]. Trump doesn't want American firms fighting (Chinese/Indian/Turkish/Russian firms) for business with one hand tied at the back so Seaboard will be OK in the end. @vvs chances are high for a massive pullback http://live.mystocks.co.ke/m/stock=UNGA
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: 18,098 Location: Nairobi
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obiero wrote:VituVingiSana wrote:obiero wrote:Ericsson wrote:Seaboard Corp, the US Conglomerate that recently offered to buyout Unga Group Minority Sharaholders is being investigated by the US Department of Justice for a number of crimes including; *Links to terrorists *Money Laundering *Bribery https://www.businessdail...2092-igfrlpz/index.html
@vvs hapa kunaendaja sasa Usijali. Tutanunua hisa za Seaboard in a profitable Unga and find other buyers. Or enjoy the earnings. It's tough for US businesses in Africa coz "corruption" is (sadly) a way of life be it in Kenya, Nigeria or South Africa [look at Zuma's dealings]. Trump doesn't want American firms fighting (Chinese/Indian/Turkish/Russian firms) for business with one hand tied at the back so Seaboard will be OK in the end. @vvs chances are high for a massive pullback http://live.mystocks.co.ke/m/stock=UNGA Not a problem. The value of Unga is still above 40/- with or without Seaboard. I see better value for Minorities if Seaboard sells their 35% in Unga Holdings to Unga Group and then an unrelated (to Ndegwas) entity bids for Unga at a fair (60-80) price. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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VituVingiSana wrote:obiero wrote:VituVingiSana wrote:obiero wrote:Ericsson wrote:Seaboard Corp, the US Conglomerate that recently offered to buyout Unga Group Minority Sharaholders is being investigated by the US Department of Justice for a number of crimes including; *Links to terrorists *Money Laundering *Bribery https://www.businessdail...2092-igfrlpz/index.html
@vvs hapa kunaendaja sasa Usijali. Tutanunua hisa za Seaboard in a profitable Unga and find other buyers. Or enjoy the earnings. It's tough for US businesses in Africa coz "corruption" is (sadly) a way of life be it in Kenya, Nigeria or South Africa [look at Zuma's dealings]. Trump doesn't want American firms fighting (Chinese/Indian/Turkish/Russian firms) for business with one hand tied at the back so Seaboard will be OK in the end. @vvs chances are high for a massive pullback http://live.mystocks.co.ke/m/stock=UNGA Not a problem. The value of Unga is still above 40/- with or without Seaboard. I see better value for Minorities if Seaboard sells their 35% in Unga Holdings to Unga Group and then an unrelated (to Ndegwas) entity bids for Unga at a fair (60-80) price. I agree with you, but in the current state of the economy coupled with political environment, a buyer would be hard to find
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 5/6/2008 Posts: 199
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Comparatively big volumes moving in the past few days. I wonder what is afoot.
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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tandich wrote:Comparatively big volumes moving in the past few days. I wonder what is afoot. It is Seaboard executing the Greater Fool Theory in perfection. Watch this share very closely over the next seven trading days
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 7/1/2014 Posts: 903 Location: sky
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obiero wrote:tandich wrote:Comparatively big volumes moving in the past few days. I wonder what is afoot. It is Seaboard executing the Greater Fool Theory in perfection. Watch this share very closely over the next seven trading days may be willing sellers selling to seaboard There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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littledove wrote:obiero wrote:tandich wrote:Comparatively big volumes moving in the past few days. I wonder what is afoot. It is Seaboard executing the Greater Fool Theory in perfection. Watch this share very closely over the next seven trading days may be willing sellers selling to seaboard Hopefully it will end well but it's looking more and more unlikely
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: 5/25/2012 Posts: 4,105 Location: 08c
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 Pesa Nane plans to be shilingi when he grows up.
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Rank: Chief Joined: 1/3/2007 Posts: 18,098 Location: Nairobi
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obiero wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:obiero wrote:Ericsson wrote:Seaboard Corp, the US Conglomerate that recently offered to buyout Unga Group Minority Sharaholders is being investigated by the US Department of Justice for a number of crimes including; *Links to terrorists *Money Laundering *Bribery https://www.businessdail...2092-igfrlpz/index.html
@vvs hapa kunaendaja sasa Usijali. Tutanunua hisa za Seaboard in a profitable Unga and find other buyers. Or enjoy the earnings. It's tough for US businesses in Africa coz "corruption" is (sadly) a way of life be it in Kenya, Nigeria or South Africa [look at Zuma's dealings]. Trump doesn't want American firms fighting (Chinese/Indian/Turkish/Russian firms) for business with one hand tied at the back so Seaboard will be OK in the end. @vvs chances are high for a massive pullback http://live.mystocks.co.ke/m/stock=UNGA Not a problem. The value of Unga is still above 40/- with or without Seaboard. I see better value for Minorities if Seaboard sells their 35% in Unga Holdings to Unga Group and then an unrelated (to Ndegwas) entity bids for Unga at a fair (60-80) price. I agree with you, but in the current state of the economy coupled with political environment, a buyer would be hard to find That's OK, the serious shareholder can wait it out. After all, many have waited for this long. What's key is the management/board i.e. will they be told to start making the profits look poor? [Over-provisioning, accelerated depreciation, write-offs/write-downs even if not tax deductible or required, etc] The above can be reversed after the de-listing. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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VituVingiSana wrote:obiero wrote:VituVingiSana wrote:tandich wrote:I hope that the more muscular minority shareholders can cobble up a blocking. stake. Or even better, a better offer materialises Every (minority) shareholder should oppose the lowball offer by Seaboard. I do not know if there is a mechanism to do so BUT the Offer Document says Seaboard + Victus need 75% [and have 54%] so if we do not support the Offer then they cannot succeed. Or like you say... a competing offer. Since Victus owns 51%, that might be tougher to pull off unless they agree to sell. Don't forget that Seaboard also owns 35% of Unga Holdings. BTW, the Annual Report is on their website. http://ungagroup.com/downloads/
So this will mean that those buying now above KES 40 are gambling, at least @vvs has broken even at his purchase price of KES 44 Beats losing money while waiting for an Open Offer. And still being in the red. @vvs asipanguzie jirani kinyesi chake.. Here's the link showing Unga slow death http://live.mystocks.co.ke/m/stock=UNGA
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: 13,503 Location: nairobi
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obiero wrote:littledove wrote:obiero wrote:tandich wrote:Comparatively big volumes moving in the past few days. I wonder what is afoot. It is Seaboard executing the Greater Fool Theory in perfection. Watch this share very closely over the next seven trading days may be willing sellers selling to seaboard Hopefully it will end well but it's looking more and more unlikely Day 2 of the 7 day exchange bar window and I can tell you that more blood shall ooze on this corner of the NSE streets http://live.mystocks.co.ke/m/stock=UNGA
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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