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Trans Century Limited HY16
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VituVingiSana
#31 Posted : Thursday, September 15, 2016 10:56:08 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
Fyatu wrote:
VituVingiSana wrote:
What are the T&Cs of the Preference Shares issued to Kuramo?
Price?
Par Value?
Dividend Rate?


As per the true TC tradition, no memorandum was circulated to this effect....TC's communication department should be fired. Information about the company is very difficult to come by other than what we read in the newspapers. All details will be known tomorrow at the Norfolk 11AM. I hope they don't serve soda and mandazi as they did in the AGM..smile

Tukutane The Norfolk

I could not figure out why Kuramo was buying TCL shares at 21/- but now with the Pref Shares it makes more sense.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Fyatu
#32 Posted : Thursday, September 15, 2016 11:22:46 AM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
VituVingiSana wrote:
Fyatu wrote:
VituVingiSana wrote:
What are the T&Cs of the Preference Shares issued to Kuramo?
Price?
Par Value?
Dividend Rate?


As per the true TC tradition, no memorandum was circulated to this effect....TC's communication department should be fired. Information about the company is very difficult to come by other than what we read in the newspapers. All details will be known tomorrow at the Norfolk 11AM. I hope they don't serve soda and mandazi as they did in the AGM..smile

Tukutane The Norfolk

I could not figure out why Kuramo was buying TCL shares at 21/- but now with the Pref Shares it makes more sense.


Where can i get this information on pref. shares @VVS??
Dumb money becomes dumb only when it listens to smart money
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VituVingiSana
#33 Posted : Thursday, September 15, 2016 11:42:08 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
Fyatu wrote:
VituVingiSana wrote:
Fyatu wrote:
VituVingiSana wrote:
What are the T&Cs of the Preference Shares issued to Kuramo?
Price?
Par Value?
Dividend Rate?


As per the true TC tradition, no memorandum was circulated to this effect....TC's communication department should be fired. Information about the company is very difficult to come by other than what we read in the newspapers. All details will be known tomorrow at the Norfolk 11AM. I hope they don't serve soda and mandazi as they did in the AGM..smile

Tukutane The Norfolk

I could not figure out why Kuramo was buying TCL shares at 21/- but now with the Pref Shares it makes more sense.


Where can i get this information on pref. shares @VVS??

@Fyatu - I saw a "notice" that TCL has issued 70,000 Pref Shares to Kuramo. I have no other details.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Fyatu
#34 Posted : Thursday, September 15, 2016 12:28:54 PM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
VituVingiSana wrote:
Fyatu wrote:
VituVingiSana wrote:
Fyatu wrote:
VituVingiSana wrote:
What are the T&Cs of the Preference Shares issued to Kuramo?
Price?
Par Value?
Dividend Rate?


As per the true TC tradition, no memorandum was circulated to this effect....TC's communication department should be fired. Information about the company is very difficult to come by other than what we read in the newspapers. All details will be known tomorrow at the Norfolk 11AM. I hope they don't serve soda and mandazi as they did in the AGM..smile

Tukutane The Norfolk

I could not figure out why Kuramo was buying TCL shares at 21/- but now with the Pref Shares it makes more sense.


Where can i get this information on pref. shares @VVS??

@Fyatu - I saw a "notice" that TCL has issued 70,000 Pref Shares to Kuramo. I have no other details.


I am confused here. TCL has created 93 million ordinary shares and 70,000 preference shares...and yet the new shareholding structure will see Kuramo control 24% of the company? The communications department in TCL is doing investors a dis-service
Dumb money becomes dumb only when it listens to smart money
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VituVingiSana
#35 Posted : Thursday, September 15, 2016 4:21:01 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
I don't know how to post the TCL IM here but...

$7mn of the $20mn is for preference shares that will pay 4.9% in dividends + redemption after 7 years with a premium of 75%. As a "back of the envelope" calculation, it seems that "loan" is 12% per year compounded in USD assuming the 4.9% is paid annually and not accrued.

The number of preference shares being 70,120 preference shares to be allotted to Kuramo Africa has been calculated by direct reference to the Transaction Preference Share price of USD 100. The Preference Shares shall have a par value of USD 100 each, will be non-convertible and only redeemable after 7 years with a 4.9% coupon and 1.75 times redemption value.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Pesa Nane
#36 Posted : Thursday, September 15, 2016 5:05:52 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
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snipermnoma
#37 Posted : Thursday, September 15, 2016 5:42:51 PM
Rank: Member

Joined: 1/3/2014
Posts: 257
VituVingiSana wrote:
I don't know how to post the TCL IM here but...

$7mn of the $20mn is for preference shares that will pay 4.9% in dividends + redemption after 7 years with a premium of 75%. As a "back of the envelope" calculation, it seems that "loan" is 12% per year compounded in USD assuming the 4.9% is paid annually and not accrued.

The number of preference shares being 70,120 preference shares to be allotted to Kuramo Africa has been calculated by direct reference to the Transaction Preference Share price of USD 100. The Preference Shares shall have a par value of USD 100 each, will be non-convertible and only redeemable after 7 years with a 4.9% coupon and 1.75 times redemption value.


Good catch @VVS. Hapa kuna mambo kweli!
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Angelica _ann
#38 Posted : Thursday, September 15, 2016 5:55:05 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
snipermnoma wrote:
VituVingiSana wrote:
I don't know how to post the TCL IM here but...

$7mn of the $20mn is for preference shares that will pay 4.9% in dividends + redemption after 7 years with a premium of 75%. As a "back of the envelope" calculation, it seems that "loan" is 12% per year compounded in USD assuming the 4.9% is paid annually and not accrued.

The number of preference shares being 70,120 preference shares to be allotted to Kuramo Africa has been calculated by direct reference to the Transaction Preference Share price of USD 100. The Preference Shares shall have a par value of USD 100 each, will be non-convertible and only redeemable after 7 years with a 4.9% coupon and 1.75 times redemption value.


Good catch @VVS. Hapa kuna mambo kweli!

Wanjiko kuoshwa round 2. These ones only benefit deal makers Sad
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Fyatu
#39 Posted : Friday, September 16, 2016 11:43:22 AM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
Could not make it to the Norfolk...Whats going on? Hata hakuna tweets wajameni?
Dumb money becomes dumb only when it listens to smart money
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Aguytrying
#40 Posted : Sunday, September 18, 2016 12:39:01 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Moto wa kuotea mbali
The investor's chief problem - and even his worst enemy - is likely to be himself
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