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NIC 1:4 rights issue - sh21 per share
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King G
#81 Posted : Monday, October 15, 2012 1:54:39 PM
Rank: Elder

Joined: 6/20/2012
Posts: 3,855
Location: Othumo
mwekez@ji wrote:
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



Corporate elite are also thieves. I wonder how now they want people to trust thier allocation policy!
Thieves
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mlennyma
#82 Posted : Monday, October 15, 2012 2:01:54 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
This is how millionaires are created.
"Don't let the fear of losing be greater than the excitement of winning."
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gesowan
#83 Posted : Monday, October 15, 2012 2:13:15 PM
Rank: Member

Joined: 11/6/2010
Posts: 289
this is going to work against guys who applied for extra rights,meaning if you had a hundred shares and applied for an extra 100 k you will not get more than 25 though you "tied" your money ,for sure hope is not an investment strategy
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chikonde
#84 Posted : Monday, October 15, 2012 2:47:42 PM
Rank: New-farer

Joined: 1/15/2010
Posts: 81
This happened to me. I had 50 rights and applied for more and have only been given an extra 17! I think allocation policy should be clearly indicated in the IM's and not decided when applications are already in. At least CFCStanbic say that the first 1,000 extra shares applied for will be given and the balance shared on a straight pro rata basis.
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sparkly
#85 Posted : Monday, October 15, 2012 3:07:51 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
so NIC want money, we give them money and they throw it back on our face!
Life is short. Live passionately.
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King G
#86 Posted : Monday, October 15, 2012 5:21:20 PM
Rank: Elder

Joined: 6/20/2012
Posts: 3,855
Location: Othumo
sparkly wrote:
so NIC want money, we give them money and they throw it back on our face!


So sad, they should have adjusted the ipo amount and given out the extra shares to some limit.

wakenya wako na cash kweli! nawanaliya left right and centre - kila siku, shindwe!
Thieves
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mlennyma
#87 Posted : Monday, October 15, 2012 7:25:16 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
This tied money which could go to hfck bond
"Don't let the fear of losing be greater than the excitement of winning."
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VituVingiSana
#88 Posted : Monday, October 15, 2012 9:05:28 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
Who knew about the allocation policy beforehand? The Board. I wonder how many shares the Board Members & their families got based on the Allocation Policy.

I have tried in vain to find the formula used but with no luck. Does anyone have it?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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gesowan
#89 Posted : Monday, October 15, 2012 9:30:35 PM
Rank: Member

Joined: 11/6/2010
Posts: 289
@ vitu vingi.....yes u will get 29.58% of the rights entitled to you ,so if u were entitled to 1000 shares u will get 290...irrespective of how many extra shares u applied ,
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youcan'tstopusnow
#90 Posted : Monday, October 15, 2012 9:43:31 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
gesowan wrote:
@ vitu vingi.....yes u will get 29.58% of the rights entitled to you ,so if u were entitled to 1000 shares u will get 290...irrespective of how many extra shares u applied ,

Say what?! Is this how it's going down? How can one not get what he/she is entitled to? Isn't that illegal? Let me get this straight - Let's say one had 4k shares. This means you got 1000 rights. You mean to say even if you opted to take up all the 1k rights you would end up with only 295 shares? Or I got what you were saying horribly wrong?
GOD BLESS YOUR LIFE
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