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ARM Cement FY 2017 disaster - 6.5bn loss
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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.
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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.
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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;....
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winmak
#104 Posted : Friday, June 22, 2018 9:42:06 AM
Rank: Member

Joined: 12/1/2007
Posts: 539
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
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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;....
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Ericsson
#106 Posted : Friday, June 22, 2018 10:26:31 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
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
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VituVingiSana
#107 Posted : Friday, June 22, 2018 3:29:38 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
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
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  | | Edit by user: Friday, June 22, 2018 3:52 PM | Reason: Not specified
Ericsson
#108 Posted : Wednesday, June 27, 2018 11:25:22 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
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
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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."
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deadpoet
#110 Posted : Wednesday, June 27, 2018 11:58:01 AM
Rank: Member

Joined: 9/27/2006
Posts: 506
I wonder if there are corporate raiders buying up shares at this price, Gordon Gekko stye.
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