Do you have 1mn KK to sell at 9.75? There are buyers ready. Don't forget KK is related to Kestrel who has a huge roster of foreign institutional clients who can probably buy up the entire firm if it was for sale at Shs 8-10. A pity coz I was waiting for 7 like many other investors.

4Q 2012 & 1Q 2013 were profitable [not sure how profitable] according to the Press Release. Total indicated that they had turned the corner as well [except for the Triton/Glencore settlement payout] so it might be a trend. Profits mean little. What's the ROE & ROA?

BIDS 1.80M
Quantity Price Splits Time
65,800 9.90 5 10:01:32
10,000 9.85 1 10:01:32
105,300 9.80 2 10:01:32
1.03M 9.75 4 10:01:32
14,500 9.70 2 10:01:32
ASKS 30,400
Quantity Price Splits Time
6,200 10.00 1 10:01:32
79,000 11.00 5 10:01:32
- - - -
- - - -
- - - -
TRADES
Quantity Price Time
800 10.00 09:55:29
2,500 10.00 09:54:30
15,800 10.25 09:48:44
- - -
- - -

I disagreed at going back to Historic Value but
1) No need to revalue regularly due to costs
2) Reduced depreciation costs esp on buildings. Land cannot be depreciated (or impaired) unless there is a material reason e.g. land taken by road expansion. See the closed KK on Muranga Rd towards Pangani from Ngara.
3) Makes ROE & ROA look better. That's why I disagree with the management.
4) Wild fluctuations in REPORTED value of land/properties in Kenya. The comparisons are not easy with an almost non-existent database of land values. Many land valuations are done at values the owners want not the value in an open market.

What analysis is this???? when KK assets are carried at historic cost!!!

@mwekez@ji if you are a KK shareholder you need to read the article below with an open mind and then looks at the comments from @coldtusker and ask "What is prompting the principal shareholders of KenolKobil to want to dispose of their assets?"

http://www.businessdaily...1/-/5eipsm/-/index.html

"If KenolKobil plans to remain in the market, then it may be necessary to completely and visibly overhaul its management (and board) to provide an opportunity for new style, vision and flexibility in a market that has become very competitive and with increased regulatory demands."

IMHO KK has good assets but potential skeletons and they used lawyers too much to cover for the skeletons. In the words of Lawrence Garfield about lawyers in business you use them...

"Kate Sullivan: Well, for someone who has nothing nice to say about lawyers, you certainly have plenty of them around.
Lawrence Garfield: They're like nuclear warheads. They have theirs, so I have mine. Once you use 'em, they f*** everything up."

I repeat

The huge loss has consumed equity and reduced the Net Book Value per Share by a whooping KES 4.27 {Simple direct calculations from the financials (6,284,575,000/ 1,471,761,200)}

KK NBV is quite low {Back-Of-The-Envelope Calculation (you need to learn this)}