This is another SACCO doing a private placement to persons working in the medical profession. I have an interest in this PP because i belong to the targeted profession. Though they have explicitly said that they have not registered it with CMA they have advertised it on the internet

http://www.image.co.ke//...MedicalAssociation.aspx

My only concern is that CMA may ust sit & wait for the last few days to do a MURAMATI on KMA SACCO. But in Kenya you never know. I just think CMA should not dip their fingers on what is private and purely a domain of SASRA.

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KMIC is a public limited liability company offering shares to investors who are within the medical profession through private placement. This offer has therefore not been registered with the CMA under the capital markets (securities) and public offers, listing and disclosures regulations 2002. KMIC will invest the funds raised from the sale of its shares on behalf of KMIC shareholders in KMA Centre Project by acquiring a 40% stake, with KMA holding 60%. KMIC will seek to preserve shareholders capital and provide income through regular dividends and long term appreciation through property investment in the KMA Centre. The KMIC Directors undertake to make a private (OTC) market in these shares to allow those who want to offload their shares to do so.The shares are being offered on private placement basis to medical practitioners at Kshs. 5,000.00 per share payable directly to KMIC account at various banks as per the details herein. The minimum shares that an investor can apply is one (1). The shares are allocated /issued as soon as payment is received on first come first served basis (FCFS). The offer will end as soon as the subscription totaling Kshs.800 million has been received by KMIC.
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