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Atlas Development and Support Services listing in GEMS
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Quote:Atlas African Industries Limited / Ticker: AAI / Index: AIM and NSE / Sector: Support
Services
1 August 2016
Atlas African Industries Limited (‘Atlas’ or the ‘Company’)Interest in Nigerian Gaming Company and Board Update Atlas African Industries Ltd (AIM, NSE: AAI), is pleased to announce that it has acquired an interest in BonanzaWin, a Nigerian based gaming company offering a range of online and real-play gaming experiences including sports betting, casino slot games, and lotto. This investment is in line with the Company’s active development strategy to identify and support prospective growth opportunities across Africa, particularly within the growing consumer market. The investment has been effected through a share subscription and capital contribution into Equatorial Partners Limited (‘EPL’), a Maltese holding company which in turn holds a 60% stake in Saerimner Ltd (‘Saerimner’), a Nigerian registered company operating under the trading name “BonanzaWin”. Atlas’ total investment into EPL at this stage is US$300,000, in consideration for which it has acquired a 10% equity stake in EPL. BonanzaWin has established a portfolio of gaming businesses currently focussed on the Nigerian market; the company has a secure online gaming platform, which powers a wide range of games including sports betting, live casino and slot games, has three gaming shops where customers can play and place bets, and is a regulated provider of the Nigerian lottery, for which BonanzaWin sells tickets through a number of local sales agents. BonanzaWin is licenced and regulated by the Lagos State Lottery Board and Atlas believes the company represents a compelling investment opportunity to access Nigeria’s growing gaming and entertainment sectors. For the 12-month period ended 31 December 2015 EPL and Searimner reported a loss of US$300,815. With regards to the Company’s wider portfolio and its interests in Ethiopia, Atlas continues to investigate possible resolutions to what the Board believes to be an unlawful expropriation of funds based on an erroneous tax claim being pursued by the Ethiopian Revenue and Customs Authority, as disclosed in the announcement dated 11 May 2016. The Company will update the market on further developments relating to this as soon as it is in a position to do so. The Company also announces that Barry Lobel will be stepping down from his role as Chief Financial Officer (‘CFO’) and Executive Director, effective immediately, in order to focus on other business commitments. The Board is assessing options for a replacement CFO and expect to fill the position with a non-board appointment in due course. Carl Esprey, CEO of Atlas said, “BonanzaWin provides us with exposure to Nigeria’s large consumer market, specifically the fast-growing gaming and entertainment market. With a range of established games and betting experiences, the company has established a competitive and comprehensive service offering and we look forward to supporting BonanzaWin as it looks to grow user numbers and average spend across its platforms and ultimately build value. Our investment underpins our strategy to identify and gain exposure to prospective growth opportunities across Africa - where we have significant operational experience - and which meet our current focus on the growing African consumer market. With rising incomes and increasing consumer demand, the African continent continues to develop and unlock new market opportunities and we look forward to keeping shareholders updated with developments across our portfolio. “Finally, I would like to take this opportunity to thank Barry for his contribution to the Company over the last two years and wish him the best in his future endeavours.” About BonanzaWinBonanzaWin is a well-respected and trusted gaming operator, committed to delivering its members the best sports betting platform available as well as offering the latest casino and slot games, lotto and live casino experience. The company offers competitive odds, desktop and mobile betting, generous welcome offers, as well as fun and exciting promotions on a regular basis. BonanzaWin is regulated by the Lagos State Lottery Board and adheres to strict rules and regulations. The company is continuously striving to bring its members the best possible online gaming experience and is committed to its Fun & Fair Play promise. For further information please see https://www.bonanzawin.com/
This announcement contains inside information. **ENDS** Pesa Nane plans to be shilingi when he grows up.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Meanwhile it continues to print all time lows. Today's low was KES 1.10. Still trading at a very lofty price in NSE compared to LSE (GBX 0.11 or KES 0.15). But if KQ is still trading with a crazy negative equity value, then no wonder such stocks are still active in the market   $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: User Joined: 1/20/2014 Posts: 3,528
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Leading the pack to below 1 bob  Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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So hii kitu ni shilingi moja, any Tom dick and Harry can be a shareholder. Even Sunday school chudwen can buy majority stake here.  Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: New-farer Joined: 8/6/2014 Posts: 11
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Pole kwa Wanjiku  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: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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i blame CMA.its their work as a govt agency in charge of regulating this sector to protect us from thieves and conmen. Towards the goal of financial freedom
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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sparkly wrote:enyands wrote:Fyatu wrote:ole wetu akina wanjiku....why did this guys not look for business (joint ventures) or even manufacturing in Kenya?
Why have shareholders meetings in London or is it easier to make unanimous decisions from there?
Is it possible to be listed on NSE while you have zero operations in Kenya?
Where is CMA? SHAFTING continues. Ponzi schemes. #TBT Life is short. Live passionately.
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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Where did Carl Esprey and co. disappear to? Is there hope of recovering my money here? Can CMA or NSE aficionados help?? Dumb money becomes dumb only when it listens to smart money
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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mwekez@ji wrote:Atlas Development and Support Services has opened a private placement issue for selected Kenyan investors at KES 11.50 per share ahead of its listing by introduction on Growth and Enterprise Market Segment of the Nairobi Securities Exchange. The company is seeking to raise KES 540,500,000 of new capital to raise funds for expansion capital and capital expenditure. Investors will require a minimum of KES 1.0m to take part in the private placement. Allocations in the Kenyan placement will be made on or about 9th December 2014 ahead of the commencement of trading and completion of Kenyan listing on 17th December 2014 subject to regulatory approvals.(Source; Business daily, Kestrel Research) I can only feel for Kenyans who have lost their money here.How did this mzungu hoodwink everybody from London stock exchange up to here in NSE? This guy Mr.Carl Esprey should be arrested and made to pay. 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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Atlas Development goes down as a poster boy of rotten stock https://www.businessdail...4908-qmfa3rz/index.html
ADSS beat strong nominees, which included KQ, NBV, NBK and Deacons for this inaugural annual “celebration.” 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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NMG are skewed.. When they leave out HF, HAFR, MSC, KPLC etc You know that objectivity left the room
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: 12/4/2009 Posts: 10,684 Location: NAIROBI
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obiero wrote:NMG are skewed.. When they leave out HF, HAFR, MSC, KPLC etc You know that objectivity left the room That is NMG for you,I stopped watching their business news.Not surprised when their revenue goes down,its their own doing Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,098 Location: Nairobi
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obiero wrote:NMG are skewed.. When they leave out HF, HAFR, MSC, KPLC etc You know that objectivity left the room It's "RUFUS MWANYASI" not NMG. The editors don't sit around doing the mathematics. I am surprised you didn't bring up KK ARM is also missing in his "dead/dying" list. 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:NMG are skewed.. When they leave out HF, HAFR, MSC, KPLC etc You know that objectivity left the room It's "RUFUS MWANYASI" not NMG. The editors don't sit around doing the mathematics. I am surprised you didn't bring up KK ARM is also missing in his "dead/dying" list. Biased eyes.. It's editorial policy. Bash any firm that doesn't advertise with NMG
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:NMG are skewed.. When they leave out HF, HAFR, MSC, KPLC etc You know that objectivity left the room It's "RUFUS MWANYASI" not NMG. The editors don't sit around doing the mathematics. I am surprised you didn't bring up KK ARM is also missing in his "dead/dying" list. Biased eyes.. It's editorial policy. Bash any firm that doesn't advertise with NMG I am sure NMG will happily run ads for firms that pay their bills. 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:NMG are skewed.. When they leave out HF, HAFR, MSC, KPLC etc You know that objectivity left the room It's "RUFUS MWANYASI" not NMG. The editors don't sit around doing the mathematics. I am surprised you didn't bring up KK ARM is also missing in his "dead/dying" list. Biased eyes.. It's editorial policy. Bash any firm that doesn't advertise with NMG I am sure NMG will happily run ads for firms that pay their bills. True. It's all business..
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: New-farer Joined: 1/15/2019 Posts: 31
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I have never before invested in gaming industry, simply because I dont have enough knowledge to make proper evaluations of business. On the other side, I see that this business is increasing market share and becoming very popular all over the world. Is it good to invest in gambling or better to stay out of it?
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Rank: Member Joined: 1/18/2019 Posts: 185 Location: kenya
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Beler wrote:I have never before invested in gaming industry, simply because I dont have enough knowledge to make proper evaluations of business. On the other side, I see that this business is increasing market share and becoming very popular all over the world. Is it good to invest in gambling or better to stay out of it? I think it can be good.There is a lot of growth in gambling and the businesses around it (lead generation etc). Possibilities are endless. In the US a lot of states are opening up to sports betting. In Kenya, I'd happily buy Sportpesa shares if they ever listed.
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Rank: New-farer Joined: 4/28/2019 Posts: 88 Location: Talai
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DOES THIS COMPANY EXIST.. I have been seeing this 10000 shares in my account. Pesa Nane wrote:Quote:Atlas African Industries Limited / Ticker: AAI / Index: AIM and NSE / Sector: Support
Services
1 August 2016
Atlas African Industries Limited (‘Atlas’ or the ‘Company’)Interest in Nigerian Gaming Company and Board Update Atlas African Industries Ltd (AIM, NSE: AAI), is pleased to announce that it has acquired an interest in BonanzaWin, a Nigerian based gaming company offering a range of online and real-play gaming experiences including sports betting, casino slot games, and lotto. This investment is in line with the Company’s active development strategy to identify and support prospective growth opportunities across Africa, particularly within the growing consumer market. The investment has been effected through a share subscription and capital contribution into Equatorial Partners Limited (‘EPL’), a Maltese holding company which in turn holds a 60% stake in Saerimner Ltd (‘Saerimner’), a Nigerian registered company operating under the trading name “BonanzaWin”. Atlas’ total investment into EPL at this stage is US$300,000, in consideration for which it has acquired a 10% equity stake in EPL. BonanzaWin has established a portfolio of gaming businesses currently focussed on the Nigerian market; the company has a secure online gaming platform, which powers a wide range of games including sports betting, live casino and slot games, has three gaming shops where customers can play and place bets, and is a regulated provider of the Nigerian lottery, for which BonanzaWin sells tickets through a number of local sales agents. BonanzaWin is licenced and regulated by the Lagos State Lottery Board and Atlas believes the company represents a compelling investment opportunity to access Nigeria’s growing gaming and entertainment sectors. For the 12-month period ended 31 December 2015 EPL and Searimner reported a loss of US$300,815. With regards to the Company’s wider portfolio and its interests in Ethiopia, Atlas continues to investigate possible resolutions to what the Board believes to be an unlawful expropriation of funds based on an erroneous tax claim being pursued by the Ethiopian Revenue and Customs Authority, as disclosed in the announcement dated 11 May 2016. The Company will update the market on further developments relating to this as soon as it is in a position to do so. The Company also announces that Barry Lobel will be stepping down from his role as Chief Financial Officer (‘CFO’) and Executive Director, effective immediately, in order to focus on other business commitments. The Board is assessing options for a replacement CFO and expect to fill the position with a non-board appointment in due course. Carl Esprey, CEO of Atlas said, “BonanzaWin provides us with exposure to Nigeria’s large consumer market, specifically the fast-growing gaming and entertainment market. With a range of established games and betting experiences, the company has established a competitive and comprehensive service offering and we look forward to supporting BonanzaWin as it looks to grow user numbers and average spend across its platforms and ultimately build value. Our investment underpins our strategy to identify and gain exposure to prospective growth opportunities across Africa - where we have significant operational experience - and which meet our current focus on the growing African consumer market. With rising incomes and increasing consumer demand, the African continent continues to develop and unlock new market opportunities and we look forward to keeping shareholders updated with developments across our portfolio. “Finally, I would like to take this opportunity to thank Barry for his contribution to the Company over the last two years and wish him the best in his future endeavours.” About BonanzaWinBonanzaWin is a well-respected and trusted gaming operator, committed to delivering its members the best sports betting platform available as well as offering the latest casino and slot games, lotto and live casino experience. The company offers competitive odds, desktop and mobile betting, generous welcome offers, as well as fun and exciting promotions on a regular basis. BonanzaWin is regulated by the Lagos State Lottery Board and adheres to strict rules and regulations. The company is continuously striving to bring its members the best possible online gaming experience and is committed to its Fun & Fair Play promise. For further information please see https://www.bonanzawin.com/
This announcement contains inside information. **ENDS**
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