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Kenya Airways...why ignore..
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VituVingiSana
#15391 Posted : Thursday, July 21, 2022 8:11:40 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,342
Location: Nairobi
My 2 cents wrote:
Impunity wrote:
*KQ reneges on new share promise to small owners*
Kenya Airways has reneged on a promise to minority shareholders to issue them with new stakes at a discount as compensation for ownership cut they suffered during the airline’s 2017 restructuring. Small investors lost 75 per cent of the shares they held in the company in the financial engineering that accompanied the conversion of $587.6 million (Sh69.6 billion) loans from the National Treasury, KLM and banks to equity.


On a light note.
A person who owns a yatch should know how to spell yatch smile

Back to business.
Most airlines should be run as a social enterprise. To provide a service with no expectation of making a profit. But will full expectation of making a loss every now and then.
Which should not be run as a social enterprise? Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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chiaroscuro
#15392 Posted : Thursday, July 28, 2022 11:05:26 AM
Rank: Veteran

Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
Impunity wrote:
*KQ reneges on new share promise to small owners*
Kenya Airways has reneged on a promise to minority shareholders to issue them with new stakes at a discount as compensation for ownership cut they suffered during the airline’s 2017 restructuring. Small investors lost 75 per cent of the shares they held in the company in the financial engineering that accompanied the conversion of $587.6 million (Sh69.6 billion) loans from the National Treasury, KLM and banks to equity.


Did anyone lose shares?

Or were they just diluted because new shares were created and offered to creditors in exchange for loans beings converted to equity?

The reality is that the creditors were the losers; not the minority shareholders!
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VituVingiSana
#15393 Posted : Thursday, July 28, 2022 12:21:16 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,342
Location: Nairobi
chiaroscuro wrote:
Impunity wrote:
*KQ reneges on new share promise to small owners*
Kenya Airways has reneged on a promise to minority shareholders to issue them with new stakes at a discount as compensation for ownership cut they suffered during the airline’s 2017 restructuring. Small investors lost 75 per cent of the shares they held in the company in the financial engineering that accompanied the conversion of $587.6 million (Sh69.6 billion) loans from the National Treasury, KLM and banks to equity.


Did anyone lose shares?

Or were they just diluted because new shares were created and offered to creditors in exchange for loans beings converted to equity?

The reality is that the creditors were the losers; not the minority shareholders!

Applause Applause Applause Applause
If GoK had allowed the creditors to do their thing... KQ would be in liquidation.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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obiero
#15394 Posted : Wednesday, August 03, 2022 6:20:16 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,211
Location: nairobi
VituVingiSana wrote:
chiaroscuro wrote:
Impunity wrote:
*KQ reneges on new share promise to small owners*
Kenya Airways has reneged on a promise to minority shareholders to issue them with new stakes at a discount as compensation for ownership cut they suffered during the airline’s 2017 restructuring. Small investors lost 75 per cent of the shares they held in the company in the financial engineering that accompanied the conversion of $587.6 million (Sh69.6 billion) loans from the National Treasury, KLM and banks to equity.


Did anyone lose shares?

Or were they just diluted because new shares were created and offered to creditors in exchange for loans beings converted to equity?

The reality is that the creditors were the losers; not the minority shareholders!

Applause Applause Applause Applause
If GoK had allowed the creditors to do their thing... KQ would be in liquidation.

No shares were lost and the restructuring did save KQ, but the Open Offer would have created value for the diluted minority shareholders

KQ ABP 4.26
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obiero
#15395 Posted : Wednesday, August 24, 2022 2:04:27 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,211
Location: nairobi
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obiero
#15396 Posted : Sunday, October 16, 2022 5:17:29 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,211
Location: nairobi
Africa's Leading Airline
Africa's Leading Airline - Business Class
Africa's Leading Airline - Brand
Africa's Leading Inflight Magazine

A King is rarely appreciated in his household

KQ ABP 4.26
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obiero
#15397 Posted : Thursday, October 27, 2022 6:41:12 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,211
Location: nairobi
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VituVingiSana
#15398 Posted : Friday, October 28, 2022 2:08:16 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,342
Location: Nairobi
obiero wrote:
Do or die https://www.businessdail...of-strike-talks-3998930

The best thing for taxpayers is that KQ goes into bankruptcy.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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obiero
#15399 Posted : Friday, October 28, 2022 8:17:09 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,211
Location: nairobi
VituVingiSana wrote:
obiero wrote:
Do or die https://www.businessdail...of-strike-talks-3998930

The best thing for taxpayers is that KQ goes into bankruptcy.

The President has other ideas

KQ ABP 4.26
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obiero
#15400 Posted : Wednesday, November 02, 2022 7:19:04 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,211
Location: nairobi
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Do or die https://www.businessdail...of-strike-talks-3998930

The best thing for taxpayers is that KQ goes into bankruptcy.

The President has other ideas

Who will blink first

KQ ABP 4.26
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Ericsson
#15401 Posted : Saturday, November 05, 2022 7:55:26 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
obiero wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Do or die https://www.businessdail...of-strike-talks-3998930

The best thing for taxpayers is that KQ goes into bankruptcy.

The President has other ideas

Who will blink first


Company is in a much bigger hole than we thought.
It hasn't been paying employee provident contributions for the past two years,still has arrears of the salary reduction they implemented in 2020.
Liabilities keep on growing day by day
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#15402 Posted : Sunday, November 06, 2022 2:39:52 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,342
Location: Nairobi
Ericsson wrote:
obiero wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Do or die https://www.businessdail...of-strike-talks-3998930

The best thing for taxpayers is that KQ goes into bankruptcy.

The President has other ideas

Who will blink first


Company is in a much bigger hole than we thought.
It hasn't been paying employee provident contributions for the past two years,still has arrears of the salary reduction they implemented in 2020.
Liabilities keep on growing day by day
Mercy killing is the best option.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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obiero
#15403 Posted : Wednesday, December 28, 2022 6:53:07 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,211
Location: nairobi
VituVingiSana wrote:
Ericsson wrote:
obiero wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
Do or die https://www.businessdail...of-strike-talks-3998930

The best thing for taxpayers is that KQ goes into bankruptcy.

The President has other ideas

Who will blink first


Company is in a much bigger hole than we thought.
It hasn't been paying employee provident contributions for the past two years,still has arrears of the salary reduction they implemented in 2020.
Liabilities keep on growing day by day
Mercy killing is the best option.

Hehe. Taxpayers will pump in an extra 59B by next month to cover current default in lending.. This thing will survive https://www.businessdail...ghts-to-new-york-4068342

KQ ABP 4.26
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obiero
#15404 Posted : Saturday, December 31, 2022 6:26:15 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,211
Location: nairobi
05.01.2023

KQ ABP 4.26
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  | | Edit by user: Saturday, December 31, 2022 6:43 PM | Reason: Not specified
VituVingiSana
#15405 Posted : Wednesday, January 04, 2023 9:57:36 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,342
Location: Nairobi
EXTENSION OF SUSPENSION FROM TRADING OF KENYA AIRWAYS PLC

SHARES

Notice is hereby given on the extension of suspension from trading of Kenya Airways Plc
shares. The extension of suspension seeks to enable the company complete its operational and
corporate restructure process.
The suspension was approved and issued by the Capital Markets Authority (CMA) pursuant to
section 11(3)(w) of the Capital Markets Act and regulation 22 of the Capital Markets
(Securities) (Public Offers, Listings and Disclosures) Regulations, 2002.
The extension of suspension from trading the company’s shares will remain in force for an
additional twelve (12) months, with effect from January 5, 2023. All shareholders, investors
and the general public are asked to take note of the suspension.
For more information please contact:

Nairobi Securities Exchange Plc
The Exchange Building, 55 Westlands Road
P. O. Box 43633-00100, Nairobi Tel: +254 (020) 283 1000
Email: info@nse.co.ke Website: www.nse.co.ke
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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