As a CMC shareholder I am pissed off by these thieves who steal cash and run without curfs on them.

I will sell the company as soon as it kicks off and wouldn't mind to buy it at 8-8.5 then sell it again at 13 or more.

I am waiting!

quote:- Mr Kemoli, who is either serving or has been a director in nine listed companies, could be the most exposed of the three since he is now required to vacate his position as non-executive director at cement manufacturer Bamburi, Unga Group, East African Breweries Limited and agricultural firm Kakuzi.

Mr Kemoli, 76, has in the past chaired the board at Housing Finance before he was ejected in a boardroom coup two years ago.
He is the current chairman of the board of directors at Lafarge Bamburi and Unga Group.
end quote..

CMA has also ambushed the old guards prescribing the age limit of seventy five (75) years as the maximum sealing for a person to serve as a director of a listed company and set in motion a plan that will see listed companies comply with a third gender rule in appointment of directors.

“We will vet all requests by companies who want to extend the tenure of any director over 72 years of age very keenly. In most cases, at this age, directors can hardly understand nor follow the ratios being presented by the managing directors,” Mr Gatabaki said.

“We’ll get government agencies concerned to ensure directors involved return the funds. We are sending a message out there that no one will get away with fraud,” said Gatabaki. The CMA said it has requested for additional information from Jersey authorities to establish the actual amount siphoned out of CMC Holdings through the irregular offshore arrangement.

And the drama continues as Tobiko takes on Kiereini and Njonjo over loss of CMC funds http://www.businessdaily...44/-/rdynki/-/index.html

Reminds me of a line from Nas:
"Thug dressed like a gentleman..."

More time to eat and cover their tracks...

The old boys are on the spot.....

Quote
In an annual general meeting held on Thursday in Nakuru, Eveready East Africa shareholders voted to retain former vice president Moody Awori as the chairman.
Mr Awori is 85 years old, well above the 75-year limit set by the regulator in guidelines released last week.
Terming the move a violation of the new rules, CMA chairman Kung’u Gatabaki told the Nation that he will raise the matter with the regulator’s decision making body for review and action.
“This sound very funny. I will personally make sure our administrative wing starts work on how the guidelines will be enforced,” Mr Gatabaki noted.
The new rules were set out to help strengthen corporate governance in listed companies following a scandal at car dealer CMC, where the majority of its aged directors pleaded ignorance of what was happening in the company.
“We will vet all requests by companies for extention of the tenure of any director beyond 72 years very keenly. In most cases at this age, directors can hardly understand or follow the ratios being presented by the managing directors,” Mr Gatabaki said a statement last week.
End quote:
http://www.nation.co.ke/...0/-/nsbamiz/-/index.html

In an interview with the Nation, Mr Kemoli termed the CMA decision as one to be deliberated before a court of law.
“To me, it is (CMA’s move) an announcement, but to you (the media and the public), it is a decision they made,” he said.