...Standard newspaper of 15th April page 37 ....Notice of AGM (14/05/2011) and Dividends to all shareholders @ kshs 3.14 per share .... ofcourse subject to approval at AGM

resolutions they require 1} to list and get more money therefor like access did 2} make their shares more affordable by moving the par value from 20 bob to kshs 1

where is @pkoli? say something!

Sori pals, I have been offline, since I am in the village on vacation. I have looked at the CIC announcements: A few thoughts:

1. Creation of the extra 90 Million shares. Remeber we currently have 60 Million issued shares not all fully paid for but those not paid for are few. we will have a total share of 150M. These had par value of KES 20.
2. Increasing the share capital to 3b, with par value of KES 1, this implies a split of 20 for every one.
3. Listing on the NSE.
4. Ensuring that the shareholding of the Coop movement does not fall below 60%.

The last item is important because it obviously dictate how many of the 90M times 20 will be listed. To satisfy condition 4, I think the company will most likely issue part of the 90 M shares as bonus to existing sharehplders.

Impact of this is that we will have less free float hence the share price is unlikely to get a big hit.

Should the listing be done this year, I am sure HY results will determine the offer price. In the Newspapers, they said the annual accounts will be uploaded to their website after tomorrow. We will then analyse the numbers.

My recommendation for the share is a good buy.

@TUPAC,

I think the bonus is more likely since a rights was offered recently.

There is a likelyhood of IPO CFC would want to raise some additional funds. I guess that is why they created an additional 90M shares.

I am sure we will get more details as we approach the AGM or during the AGM.

Recently I have not inquired about its availability on the OTC, but historically it has been a scarse stock. The last time, there were offers for about KES 50 a piece. Talk to Coop Bank, AAKS and Suntra. They are dealing in OTC. Good luck