How can a company with market cap of 125m make a 1b cash call?

Details:
* 6 for each 1 share held
* with 35m shares, means issuing 212m new shares. * That implies new shares will be offered at 4.7shs / share (current price is 3.55.

Also explains the quick retreat from 4.00 to 3.55

Rink
http://www.businessdaily.../0/-/2ldnwo/-/index.html

This one will win over Olympia and Eveready heads over shoulders

I am probably staying out!

Again what a joke. Only fools will invest in this thing.

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And those are the majority, when it comes to real estate Kenyans run, zigzag

Jokers, they better put this house in order before the call otherwise it will be a big flob and the company headed for doom

This is why we need shareholder activism. @vvs I believe you had started a thread on it.

surely the directors of express need to be taken to task or fired for eroding shareholder's wealth and for being so bankrupt of ideas.

Instead of all these games, just offer the minority shareholders a fair buy-out offer then de-list it then raise all the money they want.

I see a major buyer coming through. They may not provide cash but over-inflated 'assets' instead just like obura & matu families *conned* the other minority shareholders.

Use the past as history. Obura was (& still is) the chairman of Olympia Holdings which did a 3:1 Rights Issue at 14/- then promptly entered into shady deals which destroyed the value of the minority shareholders.

KQ did 16:5 Rights with some 'favored' shareholders like IFC buying in cheap at 67% discount to NAV. The current price if below 14/-. Who know how low it will go before the chairman (mwaniki) or CEO (naikuni) or CFO (mbugua) resign with huge golden parachutes.

Kshs. 5 why the premium.

That strategic investor might be a hoax to lure small shareholders to believe it in the process. avoid like plague!

Market price deviating from proposed offer price. Reality sinking in