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NIC 1:4 rights issue - sh21 per share

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guru267		#91 Posted : Monday, October 15, 2012 10:44:16 PM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		youcan'tstopusnow wrote: Or I got what you were saying horribly wrong? More like this mate.. Guys are talking about allocation of ADDITIONAL rights applied for! Mark 12:29 Deuteronomy 4:16
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youcan'tstopusnow		#92 Posted : Monday, October 15, 2012 11:47:25 PM
Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa		guru267 wrote: youcan'tstopusnow wrote: Or I got what you were saying horribly wrong? More like this mate.. Guys are talking about allocation of ADDITIONAL rights applied for! Oh. Okay then if that's the case. Though it was always going to be an oversubscription and chances of one getting the full ADDITIONAL shares applied for was not guaranteed. Once you applied for additional shares, you were 'flying blind.' That being said, the failure to state the criteria of allocating the additional shares applied in the IM, plus the Ndegwas application (subsequently withdrawn) for increasing stake beyond the legal limit, must have left a sour taste in investors mouths... GOD BLESS YOUR LIFE
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VituVingiSana		#93 Posted : Tuesday, October 16, 2012 12:12:01 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,361 Location: Nairobi		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 , Why did they not say that in the IM? That one would get a % based on RIGHTS ENTITLEMENT rather than the language used which does not specify "Rights Entitlement". I think those in the know [ndegwa & cronies] knew this all along. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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gesowan		#94 Posted : Tuesday, October 16, 2012 1:39:47 AM
Rank: Member Joined: 11/6/2010 Posts: 289		@youcantstopusnow, what my bird told me is that you will definately get ur entitled shares meaning if u had 4000 you got 1000 which you fullypaid for,but if u decided to get an extra 100,000,to BAD,they will culculate the 29.58% on RIGHTS ENTITLEMENT that is 1000 and not 100k,hope we are clear now, so u get 295....not 29,500(which i guess is what Wazuans r hoping for)
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guru267		#95 Posted : Tuesday, October 16, 2012 7:17:08 AM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		VituVingiSana wrote: I think those in the know [ndegwa & cronies] knew this all along. How is this allocation bad? Do wazuans complain as a hobby?? This pro rata allocation is based on rights entitled to rather than additional rights applied for... DTB actually used the latter method and not much protest on wazua! This is fair & that stuff about wanjiku should be getting a minimum allocation is total BS! Why should my % of ownership in NIC be compromised just because im a large shareholder!? Mark 12:29 Deuteronomy 4:16
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VituVingiSana		#96 Posted : Tuesday, October 16, 2012 8:06:57 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,361 Location: Nairobi		guru267 wrote: VituVingiSana wrote: I think those in the know [ndegwa & cronies] knew this all along. How is this allocation bad? Do wazuans complain as a hobby?? This pro rata allocation is based on rights entitled to rather than additional rights applied for... DTB actually used the latter method and not much protest on wazua! This is fair & that stuff about wanjiku should be getting a minimum allocation is total BS! Why should my % of ownership in NIC be compromised just because im a large shareholder!? Please read the post in entirety. It is about lack of LACK OF DISCLOSURE about the method to be used. If you do not understand that, then I am not sure what to explain to you. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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guru267		#97 Posted : Tuesday, October 16, 2012 9:13:20 AM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		VituVingiSana wrote: It is about lack of LACK OF DISCLOSURE about the method to be used. If you do not understand that, then I am not sure what to explain to you. its not illegal not to disclose the allocation method that will be used and every investor who applied for additional shares and read the IM knew that NIC had not disclosed the method and it was totally up to the directors & yet they still tied up their capital & applied for additional shares! Who's fault is it when the board applies its discretion?? Mark 12:29 Deuteronomy 4:16
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mwekez@ji		#98 Posted : Tuesday, October 16, 2012 11:15:24 AM
Rank: Chief Joined: 5/31/2011 Posts: 5,121		guru267 wrote: VituVingiSana wrote: It is about lack of LACK OF DISCLOSURE about the method to be used. If you do not understand that, then I am not sure what to explain to you. its not illegal not to disclose the allocation method that will be used and every investor who applied for additional shares and read the IM knew that NIC had not disclosed the method and it was totally up to the directors & yet they still tied up their capital & applied for additional shares! Who's fault is it when the board applies its discretion?? @guru, the lack of disclosure in IM is nothing to be hailed. Producing contradicting results of the offer and later releasing amendments makes them even more bad! .... Alot of money that could be moving the market is now locked here
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VituVingiSana		#99 Posted : Tuesday, October 16, 2012 1:20:25 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,361 Location: Nairobi		mwekez@ji wrote: guru267 wrote: VituVingiSana wrote: It is about lack of LACK OF DISCLOSURE about the method to be used. If you do not understand that, then I am not sure what to explain to you. its not illegal not to disclose the allocation method that will be used and every investor who applied for additional shares and read the IM knew that NIC had not disclosed the method and it was totally up to the directors & yet they still tied up their capital & applied for additional shares! Who's fault is it when the board applies its discretion?? @guru, the lack of disclosure in IM is nothing to be hailed. Producing contradicting results of the offer and later releasing amendments makes them even more bad! .... Alot of money that could be moving the market is now locked here Don't bother. It's too much effort to explain 1) Transparency (rules concerning scoring in the game changed after the game has ended) 2) Publishing numbers in the newspapers that were different from what was sent to the NSE/CMA Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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KIRTI		#100 Posted : Tuesday, October 16, 2012 5:47:30 PM
Rank: Member Joined: 8/17/2010 Posts: 116		I have applied for 5000 addition share & got 1363 addition share.
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