Andy Should Just Launch A Hostile Takeover Bid for CMC

That story on this link

Good articles @FUNKY. I must wonder whether CMAma is going overboard noting she's in court against CMC, against Francis Thuo, against Nyaga etc.

I must admire the tenacity of the majority shareholder who has increased stake by 30%, called for an extra-ordinary AGM, and gone to court in the space of a couple of weeks.

But BusinessDaily reminds us on the back page of the ominous case of Matiba and Carbacid who after planning a similar coup in 2004, was overwhelmed when all minorities became Kigeugeu at the critical moment.

Me?

Been a shareholder for many, many years.

I am not sure who is telling the truth between Bill and Pete.

I think I should also put my name for directorship.

wangapi watanipigia kura?

we live in interesting times... come nov Egm, i predict bill will have packed his rucksack. my little genie also says muthoka can kiss the cookie jar goodbye.... one old kiere has the wild card to swing pete off tha cliff... in the meantime an opportunity to ask deloot n touch to head to the hills ?

Was CFC. He was later to fly to ZA and negotiate the deal that created CFC-S.

BTW, is it true that Muthoka was a bland BBK cashier at one point in his life and questions still abound as to how he managed to end up in control of Andy and CMC?

For now the EGM will not proceed due to a technicality

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The boardroom war at the car dealer CMC Motors drew its first blood when a High Court judge withdrew orders on Friday he had issued a day earlier on the ground that he failed to disclose that he was a close relative to the lawyer who filed the application.

The application was filed by lawyer Fred Ojiambo on instructions of Andy Forwarders chief executive Peter Muthoka seeking orders to bar Capital Markets Authority from interfering with the proposed CMC extra-ordinary annual general meeting.

The meeting is scheduled for November 21 at the Bomas of Kenya at 11a.m. “with the sole purpose of removing current directors from office.”

According to the court papers filed by the authority, Mr Justice David Amilcar Shikomera Majanja is accused of failing to disclose that he is Mr Ojiambo’s “grandson”, a fact which by court practices ought to have persuaded him to disqualify himself as the presiding judge to safeguard the principle of fair hearing, natural justice and to avoid being accused of conflict of interest....................... DAILY NATION

Very sad drama for the innocent shareholders who still await price beating when it resumes posibly mid next year.

I am going to support Paul Wanderi Ndungu over muthoka... Why? I like a guy who buys shares in his own name... Nothing to hide!

@Dmitrys, weee... spread some hope bana... where are we meant to run to before your prophecy comes true? i was really counting on the county governments come 2012 to do some serious spending spree at CMC next year... Kweli this is not a fish market..