http://wazua.co.ke/forum...px?g=posts&m=137483

Ahhh, this one might pay off in 2011 but I am not selling since I expect even higher cash profits in 2012...!

http://www.businessdaily.../-/10ql6cb/-/index.html[/quote]
Unreliable as usual,they have a clarification and apology on page 2 of today's copy...only when the board meets will an announcement as to the use of the proceeds be made.

It's 450mn. At 20% this is 90mn in Interest Income for 2012. Looks good!

BTW, WTK has moved to rented premises in Karen Business Park.

Why not use the money to buy out the remaining 60% of Kapchorua Tea........60% of 3,912,000 Kapchorua shares @ Ksh 150 per share (a 20% mark up on prevailing share price) would cost Ksh 352M.

Since they have been managing the whole company (Kapchorua), the acquisition would be very smooth (no lengthy due deligence etc).

That would leave about Ksh 100M for distribution as a special dividend to shareholders (about Ksh 10 per share).

The Williamson tea shares are overdue for a share split.A split by a factor of 10 would be logical to increase liquidity and lower the unit price per share.

The company has huge reserves (Over Ksh 4B).Keeping the funds from the sale of Williamson House without clearly explaining to the shareholders the intended purpose of use would border on the criminal.

Happy Hunting.

@ cnn: What do they do with the huge reserves they are holding? Has management ever explained at the AGM?

Happy Hunting