Rank: Veteran Joined: 9/5/2007 Posts: 627
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I thought AAKS and Suntra were handling the issue!? Oh well, doesn't change anything!
@PKoli: The timetable is out, but I have no idea why it hasn't been published. Apparently, it was out as early as last week but they have been 'debating on whether to have it published'!
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Rank: New-farer Joined: 9/20/2010 Posts: 80
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Sir pkoli,are class a shares eligible for trading at the ipo or will they be locked out for upto 5yrs like coopbank.
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Sasha wrote:I thought AAKS and Suntra were handling the issue!? Oh well, doesn't change anything!
@PKoli: The timetable is out, but I have no idea why it hasn't been published. Apparently, it was out as early as last week but they have been 'debating on whether to have it published'! I think CIC have not handled the process well. Poor information flow. They should have employed one of the PR firms.
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Kalameni wrote:Sir pkoli,are class a shares eligible for trading at the ipo or will they be locked out for upto 5yrs like coopbank. They might be locked out like Coop, but I doubt if it will be 5 years. May be 2-3 years. Is your sacco buying?
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Rank: Veteran Joined: 9/5/2007 Posts: 627
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@PKoli: I agree they have not handled the process well. Info is actually being released in doses by the Company Secretary. But I understand that there is no legal obligation to publish the timetable. They can easily say that this is a private matter and is only for the information of existing shareholders. You will be getting some communication soon regarding the issue!
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Rank: Member Joined: 9/21/2006 Posts: 422 Location: Nairobi
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..I think more information will be or are being released to Saccos and the current shareholders of CIC through post offices.....please liaise with your sacco as we wait for public announcements, if any, that will be made by CIC
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Rank: New-farer Joined: 10/14/2010 Posts: 50 Location: Nairobi Kenya
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@PKoli=I have just spoken to my sacco Mhasibu and they say deadline will be on 29th November to apply and take up all your rights.One of my friends aslo tells me that new sacco members who are Not CIC shareholders might me considered at a later date.(In my view i feel they will consider them if the rights are not all taken up fully).So you guys who are not registered sacco members anza kuregister in anticipation
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Bugatti wrote:@PKoli=I have just spoken to my sacco Mhasibu and they say deadline will be on 29th November to apply and take up all your rights.One of my friends aslo tells me that new sacco members who are Not CIC shareholders might me considered at a later date.(In my view i feel they will consider them if the rights are not all taken up fully).So you guys who are not registered sacco members anza kuregister in anticipation @Bugatti Many thanks for that info. Have they said when the rights are starting, price and ratio? Is it one for every one? And whether existing shareholders can apply for more than their rights entitlement?
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Rank: Member Joined: 9/21/2006 Posts: 422 Location: Nairobi
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pkoli, some of these things are obvious, you can apply for as many rights as you wish, beyond your entitlement, that is. The price is Kshs 27/= per right.
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Layman wrote:pkoli, some of these things are obvious, you can apply for as many rights as you wish, beyond your entitlement, that is. The price is Kshs 27/= per right. That is true for the market as we know it. CIC may decide that you only take up your rights, no more!
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