Any idea on the size of the 'settlement' with Triton. This is very worrying. Did Total have to pay Triton due to the court decision (or rather settlement) in London?

NAIROBI (Reuters) - Fuel marketer Total Kenya Ltd on Tuesday said it would post a financial loss for 2012 after it was forced to settle a legal claim in a London court. It said the claim related to the activities of Triton, a Kenyan oil firm that collapsed in 2008 after illegally selling oil worth 7.6 billion shillings. Total Kenya did not offer any details about the suit.

While the company has admitted no liability, it said it had concluded it was in shareholders' best interests to settle the claim this month and take a hit in last year's accounts. "It is important to note that in the absence of this exceptional settlement, the company would have returned a profit," Total Kenya said, adding it expected improvement this year.

The company, which is majority-owned by French oil company Total, posted a pre-tax profit of 58 million shillings in 2011 and a net loss of 71 million shillings after taxes.

Generally speaking this year is going to be good to the downstream business especially the big 4, with a semblance of stability in international oil prices, a stronger shilling (contestable), tougher policies from MOE and price wars which would squeeze out the smaller players. Whether this would translate on the stock for KK and TKL is left for you the experts.

@hisah. Whats the effect of the preference shares held by outre mere at 15.70 and at 31.5? Especially in terms of dilution to ordinary shares eps and dividends.

That is amazing. Means they thought the shares were worth around that much.