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ARM Cement FY 2017 disaster - 6.5bn loss
Rank: Chief Joined: 5/31/2011 Posts: 5,121
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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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Rank: Member Joined: 3/20/2008 Posts: 503
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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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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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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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Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
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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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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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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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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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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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Rank: Chief Joined: 1/3/2007 Posts: 18,102 Location: Nairobi
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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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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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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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Rank: Member Joined: 5/2/2018 Posts: 267
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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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Rank: Member Joined: 9/27/2006 Posts: 503
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I wonder if there are corporate raiders buying up shares at this price, Gordon Gekko stye.
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Rank: Member Joined: 3/20/2008 Posts: 503
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Superprime1 wrote: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." Last chance for all doubters to board this BUS. @Obiero, this is your cue to sell all those little pieces of shares or sharelets you call KQ and do real investment. Thank me letter.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Rank: Elder Joined: 6/23/2009 Posts: 13,509 Location: nairobi
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The decency of an apology is noteworthy
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Have all the Board vacant positions been filled? 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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Rank: Elder Joined: 6/23/2009 Posts: 13,509 Location: nairobi
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Angelica _ann wrote:Have all the Board vacant positions been filled? I don't know
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,509 Location: nairobi
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Angelica _ann wrote:Have all the Board vacant positions been filled? I don't know
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Restructuring... expect dilution. Life is short. Live passionately.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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xxxxx wrote:Superprime1 wrote: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." Last chance for all doubters to board this BUS. @Obiero, this is your cue to sell all those little pieces of shares or sharelets you call KQ and do real investment. [Colour=green] Thank me later[/colour]. Lol. @VVS always wanted some ARM. I trust he also got some at these cheap prices. Life is short. Live passionately.
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Rank: Veteran Joined: 7/1/2014 Posts: 903 Location: sky
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obiero wrote:The decency of an apology is noteworthy also noted that, seems they already have a deal, previously they were on panic mode even their communication signaled their desperation. Hope they will act swiftly like kenol kobil did. There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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Rank: Chief Joined: 1/3/2007 Posts: 18,102 Location: Nairobi
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sparkly wrote:xxxxx wrote:Superprime1 wrote: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." Last chance for all doubters to board this BUS. @Obiero, this is your cue to sell all those little pieces of shares or sharelets you call KQ and do real investment. [Colour=green] Thank me later[/colour]. Lol. @VVS always wanted some ARM. I trust he also got some at these cheap prices. If I look at it from pure financial numbers, it looks good with a stated NAV/share of 20/- but it keeps on bleeding billions [I expect 1H to be a loss] and this reminds me of KQ. The difference is the fall was rapid vs the slow bleeding of KQ. I didn’t buy any coz I didn’t have cash + I think there are better plays than this turnaround situation. I will wait for the 1H results. If I had cash, I would rather buy Centum and NIC in the mid-30s. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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ARM Cement FY 2017 disaster - 6.5bn loss
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