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ARM Cement FY 2017 disaster - 6.5bn loss
mwekez@ji
#101 Posted : Friday, June 15, 2018 1:22:31 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
I see this from my broker

We would like to highlight the story on ARM Cement which reported that the company had offered the Tanzanian assets to the buyers of the non-cement business at no further financial consideration. We would like to clarify that the acquisition of the Tanzanian assets was in fact part of the initial agreement between the relevant parties – as part of the “Post-Completion Obligations”. Noteworthy, this was highlighted in the Sale and Purchase Agreement (SPA), included as one of the documents available for inspection, prior to the EGM.
xxxxx
#102 Posted : Friday, June 15, 2018 3:45:37 PM
Rank: Member


Joined: 3/20/2008
Posts: 503
mwekez@ji wrote:
I see this from my broker

We would like to highlight the story on ARM Cement which reported that the company had offered the Tanzanian assets to the buyers of the non-cement business at no further financial consideration. We would like to clarify that the acquisition of the Tanzanian assets was in fact part of the initial agreement between the relevant parties – as part of the “Post-Completion Obligations”. Noteworthy, this was highlighted in the Sale and Purchase Agreement (SPA), included as one of the documents available for inspection, prior to the EGM.


Its true...and in any case, those particular assets were fully provided for in the annual financial statements.
muandiwambeu
#103 Posted : Friday, June 22, 2018 9:24:54 AM
Rank: Veteran


Joined: 8/28/2015
Posts: 1,247
xxxxx wrote:
mwekez@ji wrote:
I see this from my broker

We would like to highlight the story on ARM Cement which reported that the company had offered the Tanzanian assets to the buyers of the non-cement business at no further financial consideration. We would like to clarify that the acquisition of the Tanzanian assets was in fact part of the initial agreement between the relevant parties – as part of the “Post-Completion Obligations”. Noteworthy, this was highlighted in the Sale and Purchase Agreement (SPA), included as one of the documents available for inspection, prior to the EGM.


Its true...and in any case, those particular assets were fully provided for in the annual financial statements.

Those who are in a spree to accumulate this 🐒, what do they expect. This dong is in the woods, and it will bleed further.
,Behold, a sower went forth to sow;....
winmak
#104 Posted : Friday, June 22, 2018 9:42:06 AM
Rank: Member


Joined: 12/1/2007
Posts: 537
Location: Nakuru
muandiwambeu wrote:
xxxxx wrote:
mwekez@ji wrote:
I see this from my broker

We would like to highlight the story on ARM Cement which reported that the company had offered the Tanzanian assets to the buyers of the non-cement business at no further financial consideration. We would like to clarify that the acquisition of the Tanzanian assets was in fact part of the initial agreement between the relevant parties – as part of the “Post-Completion Obligations”. Noteworthy, this was highlighted in the Sale and Purchase Agreement (SPA), included as one of the documents available for inspection, prior to the EGM.


Its true...and in any case, those particular assets were fully provided for in the annual financial statements.

Those who are in a spree to accumulate this 🐒, what do they expect. This dong is in the woods, and it will bleed further.


Tunawachia grandchildren
For investors as a whole, returns decrease as motion increases ~ WB
muandiwambeu
#105 Posted : Friday, June 22, 2018 9:52:19 AM
Rank: Veteran


Joined: 8/28/2015
Posts: 1,247
winmak wrote:
muandiwambeu wrote:
xxxxx wrote:
mwekez@ji wrote:
I see this from my broker

We would like to highlight the story on ARM Cement which reported that the company had offered the Tanzanian assets to the buyers of the non-cement business at no further financial consideration. We would like to clarify that the acquisition of the Tanzanian assets was in fact part of the initial agreement between the relevant parties – as part of the “Post-Completion Obligations”. Noteworthy, this was highlighted in the Sale and Purchase Agreement (SPA), included as one of the documents available for inspection, prior to the EGM.


Its true...and in any case, those particular assets were fully provided for in the annual financial statements.

Those who are in a spree to accumulate this 🐒, what do they expect. This dong is in the woods, and it will bleed further.


Tunawachia grandchildren

Watakuta hata mifupa sio yao
,Behold, a sower went forth to sow;....
Ericsson
#106 Posted : Friday, June 22, 2018 10:26:31 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
muandiwambeu wrote:
winmak wrote:
muandiwambeu wrote:
xxxxx wrote:
mwekez@ji wrote:
I see this from my broker

We would like to highlight the story on ARM Cement which reported that the company had offered the Tanzanian assets to the buyers of the non-cement business at no further financial consideration. We would like to clarify that the acquisition of the Tanzanian assets was in fact part of the initial agreement between the relevant parties – as part of the “Post-Completion Obligations”. Noteworthy, this was highlighted in the Sale and Purchase Agreement (SPA), included as one of the documents available for inspection, prior to the EGM.


Its true...and in any case, those particular assets were fully provided for in the annual financial statements.

Those who are in a spree to accumulate this 🐒, what do they expect. This dong is in the woods, and it will bleed further.


Tunawachia grandchildren

Watakuta hata mifupa sio yao


Be very afraid with investing in indian companies in Kenya.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#107 Posted : Friday, June 22, 2018 3:29:38 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,039
Location: Nairobi
Ericsson wrote:
muandiwambeu wrote:
winmak wrote:
muandiwambeu wrote:
xxxxx wrote:
mwekez@ji wrote:
I see this from my broker

We would like to highlight the story on ARM Cement which reported that the company had offered the Tanzanian assets to the buyers of the non-cement business at no further financial consideration. We would like to clarify that the acquisition of the Tanzanian assets was in fact part of the initial agreement between the relevant parties – as part of the “Post-Completion Obligations”. Noteworthy, this was highlighted in the Sale and Purchase Agreement (SPA), included as one of the documents available for inspection, prior to the EGM.


Its true...and in any case, those particular assets were fully provided for in the annual financial statements.

Those who are in a spree to accumulate this 🐒, what do they expect. This dong is in the woods, and it will bleed further.


Tunawachia grandchildren

Watakuta hata mifupa sio yao

Be very afraid with investing in indian companies in Kenya.


What counts is CORPORATE GOVERNANCE and the level of GREED.

What's your take on:
TPSEA?
Jubilee?
NMG?
DTB?
I&M?
Scan?

On the other side we have:
KQ? [Naikuni, Mbugua, Ngunze and friends]
Olympia?
NBK?
KenGen?
KPLC?
Standard (KTN)?
HFCK?
Britam? [From the IPO price of 9/-]
Deacons?
EAPCC?
KenRe? [Share price hasn't moved in a long time and then the CEO was sacked]
HAFR?
Atlas?
Eagaads (after a funny bunch took over)

The "MNCs" are generally a good bunch:
Bamburi [run by LaFarge]
Safaricom [run by Vodafone]
Banks like BBK and SCBK don't go gambling [run by the parents]
The agricultural firms like Limuru, Kakuzi, Kapchorua and Williamson [run by foreign parents]
Though the Robinows did try to screw over Rea shareholders.
Unilever Tea shareholders were also bought out "cheap" by Unilever Plc.

Then there's Kirubi's Centum which you "hate"... [I think Mworia is a smart chap]

Kenol is owned by "local" foreigners. And ably run by an Israeli BUT his predecessor (Segman) almost did the company in!

Ultimately, it is about corporate governance and greed. I have learnt hard but valuable lessons from the likes of KQ and Olympia.
I have always avoided Merali firms. I started avoiding GoK firms and my only significant exposure is KenRe.
Then there are shady firms like Kurwitu and NBV. Totally shady.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#108 Posted : Wednesday, June 27, 2018 11:25:22 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
Share price imekataa kwenda above 3 bob.
Just plating between 2.50 and 2.95
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Superprime1
#109 Posted : Wednesday, June 27, 2018 11:42:03 AM
Rank: Member


Joined: 5/2/2018
Posts: 267
Ericsson wrote:
Share price imekataa kwenda above 3 bob.
Just plating between 2.50 and 2.95


ARM Cement in a press statement today:
"We once again need to reduce our group debt and restructure the balance sheet.

This restructuring process is underway; in the next few weeks we will be able to share with you the way forward for the business."
deadpoet
#110 Posted : Wednesday, June 27, 2018 11:58:01 AM
Rank: Member


Joined: 9/27/2006
Posts: 496
I wonder if there are corporate raiders buying up shares at this price, Gordon Gekko stye.
xxxxx
#111 Posted : Wednesday, June 27, 2018 12:59:15 PM
Rank: Member


Joined: 3/20/2008
Posts: 503
Superprime1 wrote:
Ericsson wrote:
Share price imekataa kwenda above 3 bob.
Just plating between 2.50 and 2.95


ARM Cement in a press statement today:
"We once again need to reduce our group debt and restructure the balance sheet.

This restructuring process is underway; in the next few weeks we will be able to share with you the way forward for the business."


Last chance for all doubters to board this BUS. @Obiero, this is your cue to sell all those little pieces of shares or sharelets you call KQ and do real investment. Thank me letter.
Pesa Nane
#112 Posted : Wednesday, June 27, 2018 1:18:37 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c



Pesa Nane plans to be shilingi when he grows up.
obiero
#113 Posted : Wednesday, June 27, 2018 5:10:26 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,464
Location: nairobi
Pesa Nane wrote:




The decency of an apology is noteworthy

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
Angelica _ann
#114 Posted : Wednesday, June 27, 2018 6:15:58 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,901
Have all the Board vacant positions been filled?
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
obiero
#115 Posted : Wednesday, June 27, 2018 8:23:16 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,464
Location: nairobi
Angelica _ann wrote:
Have all the Board vacant positions been filled?

I don't know

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
obiero
#116 Posted : Wednesday, June 27, 2018 8:53:33 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,464
Location: nairobi
Angelica _ann wrote:
Have all the Board vacant positions been filled?

I don't know

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
sparkly
#117 Posted : Thursday, June 28, 2018 7:37:38 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Pesa Nane wrote:





Restructuring... expect dilution.
Life is short. Live passionately.
sparkly
#118 Posted : Thursday, June 28, 2018 7:44:34 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
xxxxx wrote:
Superprime1 wrote:
Ericsson wrote:
Share price imekataa kwenda above 3 bob.
Just plating between 2.50 and 2.95


ARM Cement in a press statement today:
"We once again need to reduce our group debt and restructure the balance sheet.

This restructuring process is underway; in the next few weeks we will be able to share with you the way forward for the business."


Last chance for all doubters to board this BUS. @Obiero, this is your cue to sell all those little pieces of shares or sharelets you call KQ and do real investment. [Colour=green] Thank me later[/colour].


Lol.

@VVS always wanted some ARM. I trust he also got some at these cheap prices.
Life is short. Live passionately.
littledove
#119 Posted : Thursday, June 28, 2018 8:37:13 AM
Rank: Member


Joined: 7/1/2014
Posts: 895
Location: sky
obiero wrote:
Pesa Nane wrote:




The decency of an apology is noteworthy


also noted that, seems they already have a deal, previously they were on panic mode even their communication signaled their desperation. Hope they will act swiftly like kenol kobil did.
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
VituVingiSana
#120 Posted : Thursday, June 28, 2018 9:11:11 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,039
Location: Nairobi
sparkly wrote:
xxxxx wrote:
Superprime1 wrote:
Ericsson wrote:
Share price imekataa kwenda above 3 bob.
Just plating between 2.50 and 2.95


ARM Cement in a press statement today:
"We once again need to reduce our group debt and restructure the balance sheet.

This restructuring process is underway; in the next few weeks we will be able to share with you the way forward for the business."


Last chance for all doubters to board this BUS. @Obiero, this is your cue to sell all those little pieces of shares or sharelets you call KQ and do real investment. [Colour=green] Thank me later[/colour].


Lol.

@VVS always wanted some ARM. I trust he also got some at these cheap prices.

If I look at it from pure financial numbers, it looks good with a stated NAV/share of 20/- but it keeps on bleeding billions [I expect 1H to be a loss] and this reminds me of KQ. The difference is the fall was rapid vs the slow bleeding of KQ.

I didn’t buy any coz I didn’t have cash + I think there are better plays than this turnaround situation. I will wait for the 1H results.

If I had cash, I would rather buy Centum and NIC in the mid-30s.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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