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Unga limited takeover
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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VituVingiSana wrote:
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.
Quote:Unga rules out raising Sh40 buyout offerDelaware-based conglomerate Seaboard Corporation has ruled out raising its buyout offer price of Sh40 per share to Unga Group’s investors. Shareholders who attended meetings called by Seaboard’s representatives in the past few days told the Business Daily that the multinational will not change its offer. “The Sh40 per share is the only offer. They only wanted to explain how they arrived at that offer,” one of the shareholders said. Some speculative investors traded the stock above Sh40 on the Nairobi Securities Exchange (NSE) following announcement of the takeover bid. Seaboard clarified to the select shareholders who were invited to the meeting that an option to revise its offer within the June 6 window is only available if it chooses to respond to a competing bid should one materialise. ...CONTINUES... Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Pesa Nane wrote:VituVingiSana wrote:
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.
Quote:Unga rules out raising Sh40 buyout offerDelaware-based conglomerate Seaboard Corporation has ruled out raising its buyout offer price of Sh40 per share to Unga Group’s investors. Shareholders who attended meetings called by Seaboard’s representatives in the past few days told the Business Daily that the multinational will not change its offer. “The Sh40 per share is the only offer. They only wanted to explain how they arrived at that offer,” one of the shareholders said. Some speculative investors traded the stock above Sh40 on the Nairobi Securities Exchange (NSE) following announcement of the takeover bid. Seaboard clarified to the select shareholders who were invited to the meeting that an option to revise its offer within the June 6 window is only available if it chooses to respond to a competing bid should one materialise. ...CONTINUES... So those who have been buying above 40 bob are burning their fingers knowingly!!! 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: Chief Joined: 1/3/2007 Posts: 18,097 Location: Nairobi
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Angelica _ann wrote:Pesa Nane wrote:VituVingiSana wrote:
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.
Quote:Unga rules out raising Sh40 buyout offerDelaware-based conglomerate Seaboard Corporation has ruled out raising its buyout offer price of Sh40 per share to Unga Group’s investors. Shareholders who attended meetings called by Seaboard’s representatives in the past few days told the Business Daily that the multinational will not change its offer. “The Sh40 per share is the only offer. They only wanted to explain how they arrived at that offer,” one of the shareholders said. Some speculative investors traded the stock above Sh40 on the Nairobi Securities Exchange (NSE) following announcement of the takeover bid. Seaboard clarified to the select shareholders who were invited to the meeting that an option to revise its offer within the June 6 window is only available if it chooses to respond to a competing bid should one materialise. ...CONTINUES... So those who have been buying above 40 bob are burning their fingers knowingly!!! The "adjusted" NAV is 67 (excludes 2H PAT) - Unga/Faida Circular - and within my range but since Seaboard chose to do the takeover in concert with Victus, and a competing offer is unlikely unless Victus offers its shares (51%) for sale. I am disappointed that Unga's Board chose to support the 40/- offer but given the composition of the board I am not surprised. Isabella Ocholla-Wilson is also on NIC's board. What's the common thread? Nick Hutchinson was originally seconded to Unga by Seaboard. Vitalis Ojode was the former FD of Unga The only other "independent" directors would be Patrick Obath and Shilpa Haria. Tumechezwa.  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: 13,501 Location: nairobi
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VituVingiSana wrote:Angelica _ann wrote:Pesa Nane wrote:VituVingiSana wrote:
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.
Quote:Unga rules out raising Sh40 buyout offerDelaware-based conglomerate Seaboard Corporation has ruled out raising its buyout offer price of Sh40 per share to Unga Group’s investors. Shareholders who attended meetings called by Seaboard’s representatives in the past few days told the Business Daily that the multinational will not change its offer. “The Sh40 per share is the only offer. They only wanted to explain how they arrived at that offer,” one of the shareholders said. Some speculative investors traded the stock above Sh40 on the Nairobi Securities Exchange (NSE) following announcement of the takeover bid. Seaboard clarified to the select shareholders who were invited to the meeting that an option to revise its offer within the June 6 window is only available if it chooses to respond to a competing bid should one materialise. ...CONTINUES... So those who have been buying above 40 bob are burning their fingers knowingly!!! The "adjusted" NAV is 67 (excludes 2H PAT) - Unga/Faida Circular - and within my range but since Seaboard chose to do the takeover in concert with Victus, and a competing offer is unlikely unless Victus offers its shares (51%) for sale. I am disappointed that Unga's Board chose to support the 40/- offer but given the composition of the board I am not surprised. Isabella Ocholla-Wilson is also on NIC's board. What's the common thread? Nick Hutchinson was originally seconded to Unga by Seaboard. Vitalis Ojode was the former FD of Unga The only other "independent" directors would be Patrick Obath and Shilpa Haria. Tumechezwa. Your strategy of buy high and sell low is unique
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: 18,097 Location: Nairobi
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obiero wrote:VituVingiSana wrote:Angelica _ann wrote:Pesa Nane wrote:VituVingiSana wrote:
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.
Quote:Unga rules out raising Sh40 buyout offerDelaware-based conglomerate Seaboard Corporation has ruled out raising its buyout offer price of Sh40 per share to Unga Group’s investors. Shareholders who attended meetings called by Seaboard’s representatives in the past few days told the Business Daily that the multinational will not change its offer. “The Sh40 per share is the only offer. They only wanted to explain how they arrived at that offer,” one of the shareholders said. Some speculative investors traded the stock above Sh40 on the Nairobi Securities Exchange (NSE) following announcement of the takeover bid. Seaboard clarified to the select shareholders who were invited to the meeting that an option to revise its offer within the June 6 window is only available if it chooses to respond to a competing bid should one materialise. ...CONTINUES... So those who have been buying above 40 bob are burning their fingers knowingly!!! The "adjusted" NAV is 67 (excludes 2H PAT) - Unga/Faida Circular - and within my range but since Seaboard chose to do the takeover in concert with Victus, and a competing offer is unlikely unless Victus offers its shares (51%) for sale. I am disappointed that Unga's Board chose to support the 40/- offer but given the composition of the board I am not surprised. Isabella Ocholla-Wilson is also on NIC's board. What's the common thread? Nick Hutchinson was originally seconded to Unga by Seaboard. Vitalis Ojode was the former FD of Unga The only other "independent" directors would be Patrick Obath and Shilpa Haria. Tumechezwa. Your strategy of buy high and sell low is unique KQ Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,097 Location: Nairobi
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The Offer opens today and closes on 13th June. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,678 Location: NAIROBI
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VituVingiSana wrote:Angelica _ann wrote:Pesa Nane wrote:VituVingiSana wrote:
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.
Quote:Unga rules out raising Sh40 buyout offerDelaware-based conglomerate Seaboard Corporation has ruled out raising its buyout offer price of Sh40 per share to Unga Group’s investors. Shareholders who attended meetings called by Seaboard’s representatives in the past few days told the Business Daily that the multinational will not change its offer. “The Sh40 per share is the only offer. They only wanted to explain how they arrived at that offer,” one of the shareholders said. Some speculative investors traded the stock above Sh40 on the Nairobi Securities Exchange (NSE) following announcement of the takeover bid. Seaboard clarified to the select shareholders who were invited to the meeting that an option to revise its offer within the June 6 window is only available if it chooses to respond to a competing bid should one materialise. ...CONTINUES... So those who have been buying above 40 bob are burning their fingers knowingly!!! The "adjusted" NAV is 67 (excludes 2H PAT) - Unga/Faida Circular - and within my range but since Seaboard chose to do the takeover in concert with Victus, and a competing offer is unlikely unless Victus offers its shares (51%) for sale. I am disappointed that Unga's Board chose to support the 40/- offer but given the composition of the board I am not surprised. Isabella Ocholla-Wilson is also on NIC's board. What's the common thread? Nick Hutchinson was originally seconded to Unga by Seaboard. Vitalis Ojode was the former FD of Unga The only other "independent" directors would be Patrick Obath and Shilpa Haria. Tumechezwa. Utaacha kuchezwa lini Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 5/6/2008 Posts: 199
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Today is the last day for competing offers. I doubt any will materialise. VituVingiSana wrote:The Offer opens today and closes on 13th June.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,589
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Ericsson wrote:VituVingiSana wrote:Angelica _ann wrote:Pesa Nane wrote:VituVingiSana wrote:
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.
Quote:Unga rules out raising Sh40 buyout offerDelaware-based conglomerate Seaboard Corporation has ruled out raising its buyout offer price of Sh40 per share to Unga Group’s investors. Shareholders who attended meetings called by Seaboard’s representatives in the past few days told the Business Daily that the multinational will not change its offer. “The Sh40 per share is the only offer. They only wanted to explain how they arrived at that offer,” one of the shareholders said. Some speculative investors traded the stock above Sh40 on the Nairobi Securities Exchange (NSE) following announcement of the takeover bid. Seaboard clarified to the select shareholders who were invited to the meeting that an option to revise its offer within the June 6 window is only available if it chooses to respond to a competing bid should one materialise. ...CONTINUES... So those who have been buying above 40 bob are burning their fingers knowingly!!! The "adjusted" NAV is 67 (excludes 2H PAT) - Unga/Faida Circular - and within my range but since Seaboard chose to do the takeover in concert with Victus, and a competing offer is unlikely unless Victus offers its shares (51%) for sale. I am disappointed that Unga's Board chose to support the 40/- offer but given the composition of the board I am not surprised. Isabella Ocholla-Wilson is also on NIC's board. What's the common thread? Nick Hutchinson was originally seconded to Unga by Seaboard. Vitalis Ojode was the former FD of Unga The only other "independent" directors would be Patrick Obath and Shilpa Haria. Tumechezwa. Utaacha kuchezwa lini Battered investor syndrome
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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wukan wrote:Ericsson wrote:VituVingiSana wrote:Angelica _ann wrote:Pesa Nane wrote:VituVingiSana wrote:
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.
Quote:Unga rules out raising Sh40 buyout offerDelaware-based conglomerate Seaboard Corporation has ruled out raising its buyout offer price of Sh40 per share to Unga Group’s investors. Shareholders who attended meetings called by Seaboard’s representatives in the past few days told the Business Daily that the multinational will not change its offer. “The Sh40 per share is the only offer. They only wanted to explain how they arrived at that offer,” one of the shareholders said. Some speculative investors traded the stock above Sh40 on the Nairobi Securities Exchange (NSE) following announcement of the takeover bid. Seaboard clarified to the select shareholders who were invited to the meeting that an option to revise its offer within the June 6 window is only available if it chooses to respond to a competing bid should one materialise. ...CONTINUES... So those who have been buying above 40 bob are burning their fingers knowingly!!! The "adjusted" NAV is 67 (excludes 2H PAT) - Unga/Faida Circular - and within my range but since Seaboard chose to do the takeover in concert with Victus, and a competing offer is unlikely unless Victus offers its shares (51%) for sale. I am disappointed that Unga's Board chose to support the 40/- offer but given the composition of the board I am not surprised. Isabella Ocholla-Wilson is also on NIC's board. What's the common thread? Nick Hutchinson was originally seconded to Unga by Seaboard. Vitalis Ojode was the former FD of Unga The only other "independent" directors would be Patrick Obath and Shilpa Haria. Tumechezwa. Utaacha kuchezwa lini Battered investor syndrome Good move to punish nse speculators "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 1/3/2007 Posts: 18,097 Location: Nairobi
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mlennyma wrote:wukan wrote:Ericsson wrote:VituVingiSana wrote:Angelica _ann wrote:Pesa Nane wrote:VituVingiSana wrote:
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.
Quote:Unga rules out raising Sh40 buyout offerDelaware-based conglomerate Seaboard Corporation has ruled out raising its buyout offer price of Sh40 per share to Unga Group’s investors. Shareholders who attended meetings called by Seaboard’s representatives in the past few days told the Business Daily that the multinational will not change its offer. “The Sh40 per share is the only offer. They only wanted to explain how they arrived at that offer,” one of the shareholders said. Some speculative investors traded the stock above Sh40 on the Nairobi Securities Exchange (NSE) following announcement of the takeover bid. Seaboard clarified to the select shareholders who were invited to the meeting that an option to revise its offer within the June 6 window is only available if it chooses to respond to a competing bid should one materialise. ...CONTINUES... So those who have been buying above 40 bob are burning their fingers knowingly!!! The "adjusted" NAV is 67 (excludes 2H PAT) - Unga/Faida Circular - and within my range but since Seaboard chose to do the takeover in concert with Victus, and a competing offer is unlikely unless Victus offers its shares (51%) for sale. I am disappointed that Unga's Board chose to support the 40/- offer but given the composition of the board I am not surprised. Isabella Ocholla-Wilson is also on NIC's board. What's the common thread? Nick Hutchinson was originally seconded to Unga by Seaboard. Vitalis Ojode was the former FD of Unga The only other "independent" directors would be Patrick Obath and Shilpa Haria. Tumechezwa. Utaacha kuchezwa lini Battered investor syndrome Good move to punish nse speculators I have been in Unga for a while [check my posts] BUT if you are jumpy then take the 40/- and RUN. I have 13 more days to decide. One option is to sell Unga at 40/- and pick up other shares like NIC. [Insert joke here] Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,097 Location: Nairobi
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Suspension of Trading to facilitate reconciliation 13 June to 3 July which makes today the last day to trade the shares. [Seaboard's Offer Document] And tomorrow is the last day for me to hand in my form. Should I stay in or should I let go?  Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,678 Location: NAIROBI
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VituVingiSana wrote:Suspension of Trading to facilitate reconciliation 13 June to 3 July which makes today the last day to trade the shares. [Seaboard's Offer Document] And tomorrow is the last day for me to hand in my form. Should I stay in or should I let go? It's about time to let it go Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,501 Location: nairobi
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VituVingiSana wrote:Suspension of Trading to facilitate reconciliation 13 June to 3 July which makes today the last day to trade the shares. [Seaboard's Offer Document] And tomorrow is the last day for me to hand in my form. Should I stay in or should I let go? You are unsure of what to do with your own investment?
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: 18,097 Location: Nairobi
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obiero wrote:VituVingiSana wrote:Suspension of Trading to facilitate reconciliation 13 June to 3 July which makes today the last day to trade the shares. [Seaboard's Offer Document] And tomorrow is the last day for me to hand in my form. Should I stay in or should I let go? You are unsure of what to do with your own investment? Unusual circumstances. Lots of other opportunities in a depressed market. I still stand by my analysis that Unga is worth more than 40 but let me sleep on it. 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: 13,501 Location: nairobi
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VituVingiSana wrote:obiero wrote:VituVingiSana wrote:Suspension of Trading to facilitate reconciliation 13 June to 3 July which makes today the last day to trade the shares. [Seaboard's Offer Document] And tomorrow is the last day for me to hand in my form. Should I stay in or should I let go? You are unsure of what to do with your own investment? Unusual circumstances. Lots of other opportunities in a depressed market. I still stand by my analysis that Unga is worth more than 40 but let me sleep on it. At this point, what you believe matters little. All the best bro..
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: 8/28/2015 Posts: 1,247
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VituVingiSana wrote:Suspension of Trading to facilitate reconciliation 13 June to 3 July which makes today the last day to trade the shares. [Seaboard's Offer Document] And tomorrow is the last day for me to hand in my form. Should I stay in or should I let go? @vvs you sound funny. You should have had you cake long time ago and put your money into other useful ventures. Xaxa seabunny is about to lock your ship if they so wished. The market was offering exactly that only at a earlier date. ,Behold, a sower went forth to sow;....
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Rank: Member Joined: 5/6/2008 Posts: 199
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 It seems many shareholder's don't agree Seaboard Corporation's very penurious valuation. I'm surprised the board, which I suspect is captured, recommended it. It's curious that they blame the post for their failure. @VituVingiSana hold on. Maybe someone will launch a counter-offer offer at the 11th Hour. Additional time is just enough to almost preclude a counter.-offer Smart business by Seaboard. Quote: During the Offer period, Seaboard has received numerous queries from Unga shareholders with requests for resubmission of the Offer documents that were originally dispatched to them via post by the Registrars. This is primarily attributed to the changes in postal addresses and/or relocation of shareholders whose new details are not updated with the Central Depository and Settlement Corporation.
In order to allow more time for shareholders to consider the Seaboard Offer and respond accordingly, Seaboard has obtained the approval of the Capital Markets Authority to extend the Closing Date by 10 working days. The Seaboard Offer will now close at 5.00pm on Thursday 28th June 2018.
Save as noted above, the terms and conditions of the Seaboard Offer as set out in the Seaboard Offer Document shall continue to apply.
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Rank: Elder Joined: 6/23/2009 Posts: 13,501 Location: nairobi
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tandich wrote:It seems many shareholder's don't agree Seaboard Corporation's very penurious valuation. I'm surprise the board, which I suspect is captured, recommended it. It's curious that they blame the post for their failure. @VituVingiSana hold on. Maybe someone will launch a counter-offer offer at the 11th Hour. Additional time is just enough to almost preclude a counter.-offer Smart business by Seaboard. Quote: During the Offer period, Seaboard has received numerous queries from Unga shareholders with requests for resubmission of the Offer documents that were originally dispatched to them via post by the Registrars. This is primarily attributed to the changes in postal addresses and/or relocation of shareholders whose new details are not updated with the Central Depository and Settlement Corporation.
In order to allow more time for shareholders to consider the Seaboard Offer and respond accordingly, Seaboard has obtained the approval of the Capital Markets Authority to extend the Closing Date by 10 working days. The Seaboard Offer will now close at 5.00pm on Thursday 28th June 2018.
Save as noted above, the terms and conditions of the Seaboard Offer as set out in the Seaboard Offer Document shall continue to apply. There shall be no counter offer. It is God who has come to the rescue of those that were undecided
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: 18,097 Location: Nairobi
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1) I have until 28th June to decide. It also happens to be (almost) the end of FY 2018 so Seaboard wants to "eat" the 1H and 2H profits. The 40/- was announced a while ago when 1H results were not out. 2) The "Adjusted NAV" of Unga is 67 according to the IFA. 3) @Obiero - I do not believe there will be a counter offer since Victus has sided with Seaboard. It's interesting to note that Victus is NOT selling at 40/-. 4)@tandich - the board has sold us out BUT look closely and it's no surprise. Only Obath and Haria don't have a (financial) relationship with either Victus/Ndegwas or Seaboard. 5) Anyway, 14 more days left ;-) Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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