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KENOL KOBIL .... 2012
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mlennyma
#521 Posted : Tuesday, May 15, 2012 9:56:36 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,183
Location: nairobi
This big boy will for sure exit the nse...ngai!!
"Don't let the fear of losing be greater than the excitement of winning."
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selah
#522 Posted : Tuesday, May 15, 2012 9:59:25 AM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
VituVingiSana wrote:
Minority Shareholders to be paid the same price as the key s/holders per the latest Press Release from KK.

Check the website.


What if a minority shareholder doesnt want to sell...are there legal ways to stay put...or the law is on the big shareholders...in that they can take you stake irregardless of your decision.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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hisah
#523 Posted : Tuesday, May 15, 2012 10:03:25 AM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
selah wrote:
VituVingiSana wrote:
Minority Shareholders to be paid the same price as the key s/holders per the latest Press Release from KK.

Check the website.


What if a minority shareholder doesnt want to sell...are there legal ways to stay put...or the law is on the big shareholders...in that they can take you stake irregardless of your decision.

I asked the same last week...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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VituVingiSana
#524 Posted : Tuesday, May 15, 2012 10:05:36 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,126
Location: Nairobi
selah wrote:
VituVingiSana wrote:
Minority Shareholders to be paid the same price as the key s/holders per the latest Press Release from KK.

Check the website.


What if a minority shareholder doesnt want to sell...are there legal ways to stay put...or the law is on the big shareholders...in that they can take you stake irregardless of your decision.
As I understand it:

1) If Puma buys 25% or more, they are obligated to make an Offer to the rest of the 75%. You need NOT sell your shares to Puma. Puma can also ask for an exemption so as NOT to make the compulsory Offer.
2) If above 80%, then Puma can make a 'Mandatory Offer' but again you need not sell.
3) The problem is that the NSE wants at least a 20% float. This means Puma can ask for a de-listing.
4) If de-listed, you can keep your shares but there is no 'public' market to sell them thus illiquid.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mlennyma
#525 Posted : Tuesday, May 15, 2012 10:10:15 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,183
Location: nairobi
It was said here if you refuse to sell and kk de-lists,you become a minority shareholder in a private company but selling will at last be not easy.
"Don't let the fear of losing be greater than the excitement of winning."
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youcan'tstopusnow
#526 Posted : Tuesday, May 15, 2012 10:32:55 AM
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Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Has everyone got her/his EFT? Mimi bado...
GOD BLESS YOUR LIFE
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VituVingiSana
#527 Posted : Tuesday, May 15, 2012 10:44:21 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,126
Location: Nairobi
Please channel any queries on @KenolKobil's potential acquisition by Puma Energy to kenkob@kenkob.co.ke
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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youcan'tstopusnow
#528 Posted : Tuesday, May 15, 2012 11:03:24 AM
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They better make a very good offer then!

GOD BLESS YOUR LIFE
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VituVingiSana
#529 Posted : Tuesday, May 15, 2012 11:13:28 AM
Rank: Chief


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Location: Nairobi
youcan'tstopusnow wrote:
They better make a very good offer then!

http://coldtusker.blogsp...enolkobil-takeover.html

22-24/-?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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youcan'tstopusnow
#530 Posted : Tuesday, May 15, 2012 11:26:56 AM
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Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
The NSE seems to be in a good mood. This takeover couldn't have come at a worse time. Who is to say that if the share was not suspended it would hit 20 bob anyways by your December date?

Yaani I believe that based on KK's current performance, the market could easily give us such a price on its own (without Puma! So what about a premium?).coldtusker values it at a very fair PE of 10. Wouldn't you agree? But that's just mesmile

PS: Usisahau swali yangu ya dividends;-)

GOD BLESS YOUR LIFE
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earthvoice
#531 Posted : Tuesday, May 15, 2012 12:03:58 PM
Rank: Member


Joined: 1/29/2011
Posts: 257
VituVingiSana wrote:
Minority Shareholders to be paid the same price as the key s/holders per the latest Press Release from KK.

Check the website.

http://www.kenolkobil.co...keholder%20advisory.pdf

Bittersweet times for current (minority) KK shareholders.

I mean sure, we may make some healthy capital gains in the (hopefully) not too distant future...
but will definitely miss out on all future gains. All this talk of "a journey to greater growth, development and prosperity" is quite hollow if you're asking shareolders to leave before the company gets there... all the while explaining to them exactly what they'll be missing out on.

Add to that the suspension of trading on the share, precluding any possible price rally...

Things may be good, but methinks they could (should) be better.
Bittersweet times indeed.
"All intelligent investing is value investing -- acquiring more than you are paying for. You must value the business in order to value the stock." - Charlie Munger.
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Cde Monomotapa
#532 Posted : Tuesday, May 15, 2012 12:06:10 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
youcan'tstopusnow wrote:
The NSE seems to be in a good mood. This takeover couldn't have come at a worse time. Who is to say that if the share was not suspended it would hit 20 bob anyways by your December date?

Yaani I believe that based on KK's current performance, the market could easily give us such a price on its own (without Puma! So what about a premium?).coldtusker values it at a very fair PE of 10. Wouldn't you agree? But that's just mesmile

PS: Usisahau swali yangu ya dividends;-)


Vipi bro? U knew the job was dangerous when u took it! ;-)
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youcan'tstopusnow
#533 Posted : Tuesday, May 15, 2012 12:34:56 PM
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Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Cde Monomotapa wrote:
youcan'tstopusnow wrote:
The NSE seems to be in a good mood. This takeover couldn't have come at a worse time. Who is to say that if the share was not suspended it would hit 20 bob anyways by your December date?

Yaani I believe that based on KK's current performance, the market could easily give us such a price on its own (without Puma! So what about a premium?).coldtusker values it at a very fair PE of 10. Wouldn't you agree? But that's just mesmile

PS: Usisahau swali yangu ya dividends;-)


Vipi bro? U knew the job was dangerous when u took it! ;-)

Laughing out loudlyLaughing out loudlyLaughing out loudly
Wacha wewe! Greed is good;-)
Whatever the case, we'll still make some sweet cash...
GOD BLESS YOUR LIFE
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youcan'tstopusnow
#534 Posted : Tuesday, May 15, 2012 12:37:47 PM
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Posts: 6,779
Location: Black Africa
earthvoice, that talk of 'future potential' is for employees. Not us.

Sisi tunanunuliwa. We won't enter Canaan. We'll be left at the gates!Laughing out loudly
GOD BLESS YOUR LIFE
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Jamani
#535 Posted : Tuesday, May 15, 2012 12:56:03 PM
Rank: Elder


Joined: 9/12/2006
Posts: 1,554
youcan'tstopusnow wrote:
earthvoice, that talk of 'future potential' is for employees. Not us.

Sisi tunanunuliwa. We won't enter Canaan. We'll be left at the gates!Laughing out loudly


That is, if you decide to sellDrool
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VituVingiSana
#536 Posted : Tuesday, May 15, 2012 1:01:18 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,126
Location: Nairobi
youcan'tstopusnow wrote:
earthvoice, that talk of 'future potential' is for employees. Not us.

Sisi tunanunuliwa. We won't enter Canaan. We'll be left at the gates!Laughing out loudly
Choose not to sell & be a minority in an unlisted firm
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Jamani
#537 Posted : Tuesday, May 15, 2012 1:24:04 PM
Rank: Elder


Joined: 9/12/2006
Posts: 1,554
VituVingiSana wrote:
youcan'tstopusnow wrote:
earthvoice, that talk of 'future potential' is for employees. Not us.

Sisi tunanunuliwa. We won't enter Canaan. We'll be left at the gates!Laughing out loudly
Choose not to sell & be a minority in an unlisted firm


Challenges:-
1. not easy to liquidate
2. Might be diluted due to capital demands

Pros.
1. Might sell at a high price to Puma after sometime
2. Higher dividends
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Jamani
#538 Posted : Tuesday, May 15, 2012 1:26:59 PM
Rank: Elder


Joined: 9/12/2006
Posts: 1,554
Looking at it in a different way, the larger shareholders might be making a merali-celtel move... sell/tranfer the local shares and get holding into the group...
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Murenju
#539 Posted : Tuesday, May 15, 2012 1:48:56 PM
Rank: Member


Joined: 7/13/2006
Posts: 94
Location: Nairobi
I do not hold KK shares. With exit of KK we now take our focus to Total Kenya and hope that good times are ahead for it.
Knock hard and it will be opened. Ask and you will be answered. Seek and you shall find.
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Aguytrying
#540 Posted : Tuesday, May 15, 2012 3:23:46 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
at any price above 20 or thereabouts ill be happy.
i was expecting to sell at that pricein 2 years.
would never like to be a minority shareholder in puma. did u guys read about the guys stuck for 8 years.
i consider this good fortune.time to look for the next gem.
and not total kenya as it is.
The investor's chief problem - and even his worst enemy - is likely to be himself
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