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NIC 1:4 rights issue - sh21 per share
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VituVingiSana
#71 Posted : Thursday, October 11, 2012 11:28:14 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
mwekez@ji wrote:
238% oversubscription rate! Thats massive! Whats Ndegwas contribution to this? Then we can tell the pro rata rate to be applied in allotment of the few untaken rights
No. NIC used an allocation policy no-one else has ever used & not shown or indicated in the IM.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mwekez@ji
#72 Posted : Thursday, October 11, 2012 11:39:49 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
VituVingiSana wrote:
mwekez@ji wrote:
238% oversubscription rate! Thats massive! Whats Ndegwas contribution to this? Then we can tell the pro rata rate to be applied in allotment of the few untaken rights
No. NIC used an allocation policy no-one else has ever used & not shown or indicated in the IM.


In the announcement of rights issue results they have stipulated prorata basis Link
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VituVingiSana
#73 Posted : Thursday, October 11, 2012 1:04:46 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
mwekez@ji wrote:
VituVingiSana wrote:
mwekez@ji wrote:
238% oversubscription rate! Thats massive! Whats Ndegwas contribution to this? Then we can tell the pro rata rate to be applied in allotment of the few untaken rights
No. NIC used an allocation policy no-one else has ever used & not shown or indicated in the IM.


In the announcement of rights issue results they have stipulated prorata basis Link
No, read it again. It is pro-rata to the RIGHTS ENTITLEMENT not to the application of the Additional Shares.

A shareholder who had 1,000,000 shares (Rights Entitlement) applies for 100,000 additional shares will get 100x a shareholder who had 10,000 shares (Rights Entitlement) but also applied for 10,000 shares.

Assume the % allocation is 10% of the RIGHTS ENTITLEMENT then:

A shareholder who had 1,000,000 shares (Rights Entitlement) applies for 100,000 additional shares will get 100,000 "Additional" shares vs a shareholder who had 10,000 shares (Rights Entitlement) but also applied for 10,000 shares wil get 1,000 shares.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Thursday, October 11, 2012 1:06 PM | Reason: Not specified
mwekez@ji
#74 Posted : Thursday, October 11, 2012 2:40:24 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
VituVingiSana wrote:
mwekez@ji wrote:
VituVingiSana wrote:
mwekez@ji wrote:
238% oversubscription rate! Thats massive! Whats Ndegwas contribution to this? Then we can tell the pro rata rate to be applied in allotment of the few untaken rights
No. NIC used an allocation policy no-one else has ever used & not shown or indicated in the IM.


In the announcement of rights issue results they have stipulated prorata basis Link
No, read it again. It is pro-rata to the RIGHTS ENTITLEMENT not to the application of the Additional Shares.

A shareholder who had 1,000,000 shares (Rights Entitlement) applies for 100,000 additional shares will get 100x a shareholder who had 10,000 shares (Rights Entitlement) but also applied for 10,000 shares.

Assume the % allocation is 10% of the RIGHTS ENTITLEMENT then:

A shareholder who had 1,000,000 shares (Rights Entitlement) applies for 100,000 additional shares will get 100,000 "Additional" shares vs a shareholder who had 10,000 shares (Rights Entitlement) but also applied for 10,000 shares wil get 1,000 shares.


If so, it'll be an unfair allocation hiding behind the veil of pro rata. Next week on Friday we'll know when our CDS accounts are credited
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King G
#75 Posted : Thursday, October 11, 2012 2:57:26 PM
Rank: Elder

Joined: 6/20/2012
Posts: 3,855
Location: Othumo
Pro rata without fixed minimum allocatio across board still gives advantage to the big boys while wanjiku gets their messly refunds.

But again managing an oversubscription of that level is very difficult. You cant please all and therefore they have decided to go with the moneyed!

Anyway we await for friday!
Thieves
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gesowan
#76 Posted : Thursday, October 11, 2012 3:11:37 PM
Rank: Member

Joined: 11/6/2010
Posts: 289
so what happens to those guys who had a hundred shares and the applied for 500k shares it means they will het less than one hundred ,i now agree hope is not a strategy
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VituVingiSana
#77 Posted : Thursday, October 11, 2012 3:16:55 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
mwekez@ji wrote:
VituVingiSana wrote:
mwekez@ji wrote:
VituVingiSana wrote:
mwekez@ji wrote:
238% oversubscription rate! Thats massive! Whats Ndegwas contribution to this? Then we can tell the pro rata rate to be applied in allotment of the few untaken rights
No. NIC used an allocation policy no-one else has ever used & not shown or indicated in the IM.


In the announcement of rights issue results they have stipulated prorata basis Link
No, read it again. It is pro-rata to the RIGHTS ENTITLEMENT not to the application of the Additional Shares.

A shareholder who had 1,000,000 shares (Rights Entitlement) applies for 100,000 additional shares will get 100x a shareholder who had 10,000 shares (Rights Entitlement) but also applied for 10,000 shares.

Assume the % allocation is 10% of the RIGHTS ENTITLEMENT then:

A shareholder who had 1,000,000 shares (Rights Entitlement) applies for 100,000 additional shares will get 100,000 "Additional" shares vs a shareholder who had 10,000 shares (Rights Entitlement) but also applied for 10,000 shares wil get 1,000 shares.

If so, it'll be an unfair allocation hiding behind the veil of pro rata. Next week on Friday we'll know when our CDS accounts are credited
Yes, it is a lie.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Thursday, October 11, 2012 3:21 PM | Reason: Not specified
mlennyma
#78 Posted : Thursday, October 11, 2012 3:17:22 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
What i hate is the creation of odd lots which comes with it.
"Don't let the fear of losing be greater than the excitement of winning."
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VituVingiSana
#79 Posted : Friday, October 12, 2012 2:06:14 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
Check this shady happenings at NIC Bank

http://coldtusker.blogsp...ue-2012-shenanigans.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mwekez@ji
#80 Posted : Monday, October 15, 2012 12:32:36 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
VituVingiSana wrote:
Check this shady happenings at NIC Bank
http://coldtusker.blogspot.com/...ue-2012-shenanigans.html

after this rant, they have issued a revised notice to NSE http://t.co/SwNEcvde
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