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Olympia - AGM 2009

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Iganamagana		#11 Posted : Monday, September 28, 2009 11:07:00 AM
Rank: Veteran Joined: 3/27/2009 Posts: 1,437		Michael Matu has/had interests in Karen properties. He was a director of the company way back in 1999 or 2000 when the Wamae family bought the company (then known as Dunlop),capitalized the reserves and sold a big chunk of the shares through the stock exchange making millions in the process. The CMA made queries about the issue then but for some reasons kept quiet all of a sudden. He was selling them through three brokerage firms and I suspect only one had the full picture. I have never been comfortable with the counter since then though its important to add that the deals appeared legal. IGANA.
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VituVingiSana		#12 Posted : Thursday, October 01, 2009 6:34:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,384 Location: Nairobi		@mainat: LOL... Losing 200mn then 'making' 16mn seems like a trick a bank uses when making provisions... easier to take one huge hit then show 'gains' later. Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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VituVingiSana		#13 Posted : Thursday, October 01, 2009 6:39:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,384 Location: Nairobi		@mukiha - I have it on good authority that Scottlink (2.25%) is owned/controlled by Michael Matu. Others that may be related but I am not sure are Karen Enterprises (9.8%) is an Obura company. Croxley Properties (1.0%) is controlled by the same matu group. Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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VituVingiSana		#14 Posted : Thursday, October 01, 2009 6:40:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,384 Location: Nairobi		@kausha - You are so right Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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VituVingiSana		#15 Posted : Thursday, October 01, 2009 6:45:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,384 Location: Nairobi		On Page 52+53 (Note 30) there is a list of related parties: Central Kenya Wholesalers (0.3%),Croxley (1.0%),Dunlop Properties (18.4%),Scottlink (2.2%),Mt. Kenya Investment (0.4%) Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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mukiha		#16 Posted : Thursday, October 01, 2009 7:04:00 AM
Rank: Elder Joined: 6/27/2008 Posts: 4,114		It appears then that this is just a Matu family outfit...... Question then is: do you trust them? Does their maintaining controlling share and executive management add value to the enterprise? My thinking is that if they were forthright,they wouldn't hide behind so many veils. Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow) Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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VituVingiSana		#17 Posted : Thursday, October 01, 2009 7:26:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,384 Location: Nairobi		Well,that is why all shareholders need to show up at the AGM. Change the culture. BTW,Paul Wanderi Ndungu (of KQ & CMC fame) became a director & huge shareholder. Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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mukiha		#18 Posted : Thursday, October 01, 2009 7:52:00 AM
Rank: Elder Joined: 6/27/2008 Posts: 4,114		I respect Paul Wanderi because he does not hind behind some amorphous sounding investment company...he goes in in his personal name. If anyone has a question,they can ask him directly; not some inconsequential proxy. Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow) Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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VituVingiSana		#19 Posted : Thursday, October 01, 2009 10:23:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,384 Location: Nairobi		There are reasons for having proxies or firms... but in OCHL's case I have no idea... Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Mainat		#20 Posted : Friday, October 02, 2009 7:02:00 AM
Rank: Veteran Joined: 11/21/2006 Posts: 1,590		Dudes,you better let Matu's son know what time is...none of that nonsense about not getting your sandwich et al www.mjengakenya.blogspot.com Sehemu ndio nyumba
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