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CIC Shares - You may be able to buy these shares
whynow
#1 Posted : Monday, September 13, 2010 4:21:58 PM
Rank: New-farer


Joined: 7/19/2010
Posts: 98
Location: Kenya
They will have a special GM on 17th Sept. Looking at the notice, it appears there is a window for new shareholders. Whats your take

www.cic.co.ke/public_sit...cle/file/Notice__EGM.pdf


Increase of Share Capital
Resolution 8. THAT the authorized share capital of the
Company be increased from Kenya Shillings Six
Hundred Million (Kshs 600,000,000) to Kenya
Shillings One Billion (Kshs 1,000,000,000) divided
into 50,000,000 (Fifty Million) shares of Kenya
Shillings Twenty(Kshs. 20) each by the creation of
20,000,000 (Twenty Million) ordinary shares of
Kenya Shillings Twenty (Kshs 20)

Allotment of Shares
Resolution 9. THAT the Board be and is hereby authorized
to issue and allot the unissued share capital of the
Company to the existing Class B shareholders and
to new shareholders at such price and on such
terms as they deem most beneficial to the Company.
Closure of Register of Members
Resolution 10. THAT the register of members be closed for a
period of thirty days from such date as the Board
may determine to allow for the issue and allotment
of the new shares as authorized in the foregoing
resolution.

whynow
#2 Posted : Monday, September 13, 2010 4:23:57 PM
Rank: New-farer


Joined: 7/19/2010
Posts: 98
Location: Kenya
What is the OTC price now cause the new ones will be going for kshs 20.00
hisah
#3 Posted : Monday, September 13, 2010 6:37:10 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
30 - 38. I'm waiting for them like rain in the desert. However, I don't think new shareholders will get enough since the demand from class A holders (mostly coop movements) is big plus the existing class B (OTC shareholders are scouting for it).
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
whynow
#4 Posted : Monday, September 13, 2010 6:45:05 PM
Rank: New-farer


Joined: 7/19/2010
Posts: 98
Location: Kenya
HISAH - Pls note resolution 9. They will only be for class B and new shareholders. I should correct myself also. The new ones will not be going for 20.00. That the authorized share capital. New price to be determined.
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