whiteowl wrote:sparkly wrote:whiteowl wrote:[quote=sparkly]KK to get 4B from KPC after delisting from NSE. What a fraud on minority shareholders!
https://www.standardmedi...-kenolkobil-sh4-billion[/quote]
Having got in at 8/= I don't consider this fraud at all.I've seen serious cases of shafting minority shareholders during delisting. They do it during the bear when the price is at an all time low.
1. The amounts due from KPC had been written off.
2. We are in a bear.
3. Were minority shareholders low balled by the 23/= per share offer?
4. The clean up - debt write offs, staff redundancies, exist from unprofitable TZ, buy in into lucrative bulk storage;
5. Management pay off - Senior management walked away with billions in Esops;
6. The price - Aly Khan had valued the share at much higher than 23;
7. The shady circumstances - completed after death of total man, some family members disavowing inheritance, dealers and brokers involved in insider trading;
8. The aftermath - leaner cleaner KK, total man family out of the picture, KPC pays 4B after delisting.
This transaction smells wrong from many angles. I bet money changed hands behind the scenes between total man family and the buyers to push through the deal.
Life is short. Live passionately.