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Kalameni
#1 Posted : Tuesday, October 19, 2010 2:00:40 AM
Rank: New-farer


Joined: 9/20/2010
Posts: 79
When's the rights issue nd are class A nd B eligible as well as totally new shareholders nd probable discounted mkt price?
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PKoli
#2 Posted : Tuesday, October 19, 2010 9:20:34 AM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
Kalameni wrote:
When's the rights issue nd are class A nd B eligible as well as totally new shareholders nd probable discounted mkt price?


Look for previous posts on CIC. Class A and B will qualify in addition to new members
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whynow
#3 Posted : Tuesday, October 19, 2010 10:28:02 AM
Rank: New-farer


Joined: 7/19/2010
Posts: 98
Location: Kenya
They have closed the register. Only existing shareholders will participate.
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PKoli
#4 Posted : Tuesday, October 19, 2010 10:31:39 AM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
whynow wrote:
They have closed the register. Only existing shareholders will participate.



When did they close the register? When is the time table for rights offer out?
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Bugatti
#5 Posted : Tuesday, October 19, 2010 10:37:21 AM
Rank: New-farer


Joined: 10/14/2010
Posts: 50
Location: Nairobi Kenya
Guys,Rights issue will run from around 20th November for 2 weeks.Rights will be at ksh 27 and also new shares at the same price.They will close the sale in the first week of december.Rights will be 1:1
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PKoli
#6 Posted : Tuesday, October 19, 2010 10:40:26 AM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
Bugatti wrote:
Guys,Rights issue will run from around 20th November for 2 weeks.Rights will be at ksh 27 and also new shares at the same price.They will close the sale in the first week of december.Rights will be 1:1



Many thanks. When is books closure for existing shareholders? They had indicated that they will close books for a month
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whynow
#7 Posted : Tuesday, October 19, 2010 10:54:48 AM
Rank: New-farer


Joined: 7/19/2010
Posts: 98
Location: Kenya
I have just called CIC and they have told me the books are closed. I think they want to look out opportunists like wazuans.
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Sober
#8 Posted : Tuesday, October 19, 2010 10:56:43 AM
Rank: Elder


Joined: 11/27/2007
Posts: 3,604
when did the books close?
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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PKoli
#9 Posted : Tuesday, October 19, 2010 10:57:21 AM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
whynow wrote:
I have just called CIC and they have told me the books are closed. I think they want to look out opportunists like wazuans.


I think they racing against time.
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Bugatti
#10 Posted : Tuesday, October 19, 2010 11:40:19 AM
Rank: New-farer


Joined: 10/14/2010
Posts: 50
Location: Nairobi Kenya
By which percentage do you see the oversubscription in this issue
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PKoli
#11 Posted : Tuesday, October 19, 2010 11:54:15 AM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
Bugatti wrote:
By which percentage do you see the oversubscription in this issue


Me thinks the existing shareholders might not be able to take up all their shareholding. The guys who will oversubscribe are the new members!
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Sasha
#12 Posted : Tuesday, October 19, 2010 12:00:10 PM
Rank: Veteran


Joined: 9/5/2007
Posts: 627
Aaaah crap! When did the books close? I was hoping to have accumulated more than I already have!! Is there any point accumulating after the books have closed especially with the wazees selling at 50 bob per share?

Agree with PKoli on the oversubscription though will not be surprised if otherwise!
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PKoli
#13 Posted : Tuesday, October 19, 2010 12:06:57 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
Sasha wrote:
Aaaah crap! When did the books close? I was hoping to have accumulated more than I already have!! Is there any point accumulating after the books have closed especially with the wazees selling at 50 bob per share?

Agree with PKoli on the oversubscription though will not be surprised if otherwise!



I will pick up my rights and sell about 10,000 within a month if the price will have appreciated by 50%.@Sasha if you want to get some more get in touch with me in Dec - Jan
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Sasha
#14 Posted : Tuesday, October 19, 2010 12:12:06 PM
Rank: Veteran


Joined: 9/5/2007
Posts: 627
He he! PKoli: Look at you trying to make some money off me! I have a mzee offering to sell 25,000 shares at 43 bob! Thought that was too much!

I will also pick my rights, but have no intention of selling until they list! Unless someone gives me an offer I can't refuse!
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PKoli
#15 Posted : Tuesday, October 19, 2010 12:18:13 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
Sasha wrote:
He he! PKoli: Look at you trying to make some money off me! I have a mzee offering to sell 25,000 shares at 43 bob! Thought that was too much!

I will also pick my rights, but have no intention of selling until they list! Unless someone gives me an offer I can't refuse!


Last year CIC had an eps of 11. Assuming projected growth of 30%, this will transalate to eps of 14.
At a conservative p/e of 10, the share should trade at KES 140. With rights and extra shares assuming 30M more shares, we should have a conservative price of KES 70 per share.
Now, this is a growth stock, with huge expansion plans and will be cash rich from the rights, so I see a price of KES 100 next year being reasonable.

Therefore if the books have not closed, please pick up those shares and wait for the rights!
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the deal
#16 Posted : Tuesday, October 19, 2010 12:25:02 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Sasha wrote:
He he! PKoli: Look at you trying to make some money off me! I have a mzee offering to sell 25,000 shares at 43 bob! Thought that was too much!

I will also pick my rights, but have no intention of selling until they list! Unless someone gives me an offer I can't refuse!


Laughing out loudly Laughing out loudly Laughing out loudly @Pkoli is the rights issue specialist of Wazua....
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PKoli
#17 Posted : Tuesday, October 19, 2010 12:37:55 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
the deal wrote:
Sasha wrote:
He he! PKoli: Look at you trying to make some money off me! I have a mzee offering to sell 25,000 shares at 43 bob! Thought that was too much!

I will also pick my rights, but have no intention of selling until they list! Unless someone gives me an offer I can't refuse!


Laughing out loudly Laughing out loudly Laughing out loudly @Pkoli is the rights issue specialist of Wazua....


Hahaha..I think this for Stockmaster...I only did KCB and now eyeing CIC..
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Sasha
#18 Posted : Tuesday, October 19, 2010 12:56:22 PM
Rank: Veteran


Joined: 9/5/2007
Posts: 627
@PKoli: I agree that this is a growth counter and it is grossly underpriced at the moment. If your projection is correct that it could hit Kshs 100 next year, then I will be willing to sell some to you at Kshs 95/-. But at the moment, I can't put Kshs 1 million on this stock waiting for it list in 3 years! What I have put is enough but would be willing to add more only if I get them at a reasonable price e.g. Kshs 35!
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Mkimwa
#19 Posted : Tuesday, October 19, 2010 12:58:07 PM
Rank: Member


Joined: 10/26/2008
Posts: 380
I have been looking for these shares for sometime now, na sijapata.

How do i acquire using this window? I am not a shareholder yet, lakini am a member of a sacco..
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PKoli
#20 Posted : Tuesday, October 19, 2010 1:09:20 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
Sasha wrote:
@PKoli: I agree that this is a growth counter and it is grossly underpriced at the moment. If your projection is correct that it could hit Kshs 100 next year, then I will be willing to sell some to you at Kshs 95/-. But at the moment, I can't put Kshs 1 million on this stock waiting for it list in 3 years! What I have put is enough but would be willing to add more only if I get them at a reasonable price e.g. Kshs 35!


If the rights will be 1:1 then if you bought 25,000 shares, you should expect to get similar number at a reduced price. You could then sell them on OTC. I decline your offer. I have about 20,000 and will just take up my rights to have 40,000. After the rights, I will keep on adding till I have 100,000. Then I will wait for share split or bonus.
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