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AccessKenya takeover offer at 14/=
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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These are my thoughts exactly! CMA should style up to the 21st century... Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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I only lack a quoram to demonstrate their silly action in the streets,share trading is all about speculation,when the offer price is known you can only be stupid to suspend a share,it makes some sense to suspend when the offer is unknown but for a mandatory specified time...can we arrange to demonstrate my fellow shareholders? "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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These silly laws should be changed. I said as much during KK/PUMA 'deal'. Plus I don't think a formal offer was ever made to the market. If discussion were only between the top shareholders, why restrict the rest of the shareholders? Markets are all about speculation. CMA needs to realise that fast. GOD BLESS YOUR LIFE
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Rank: New-farer Joined: 6/10/2013 Posts: 52
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The suspension is against the Capital Markets Take-over and Mergers Regulations 2002 and denies shareholders and the public their right to trade in a free market, the deal with Jonathan Somen to buy back 20% of the shares needs full disclosure, it seems to favour one shareholder over others and the break fee payable to Dimension Data of $2,500,000 is illegal and anti-competitive.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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smitha wrote:The suspension is against the Capital Markets Take-over and Mergers Regulations 2002 and denies shareholders and the public their right to trade in a free market, the deal with Jonathan Somen to buy back 20% of the shares needs full disclosure, it seems to favour one shareholder over others and the break fee payable to Dimension Data of $2,500,000 is illegal and anti-competitive. In Kenya we blatantly break all the rules...I was going through the panel of takeovers and mergers (POTAM) six guiding principles in regards to fair play when it comes to a takeover or merger; (i) All holders of the securities of an offeree company of the same class must be afforded equivalent treatment,if a person acquires control of a company the other holders of security must be protected.
(ii) The holders of the securities must have sufficient time and information to enable them to reach a properly informed decision on the bid;where it advises the holders of the security,the board of the offeree company must give its views on the effects of implementation of the bid on employment,conditions of employment and companys places of business.
(iii) The board of an offeree company must act in the best interests of the company as a whole and must not deny the holders of securities the opportunity to decide on the merits of the bid.
(iv) False markets must not be created in the securities of the offeree company or the offeror company or any other company concerned by the bid in such a way that the rise or fall of the prices of the securities becomes artificial and the normal functioning of the markets is distorted.
(v) An offeror must announce a bid only after ensuring that he/she can fulfill in full any cash consideration,if such is offered,and after taking all reasonable measures to secure the implementation of any other type of consideration.
(vi) An offeree company must not be hindered in the conduct of its affairs for longer than is reasonable by a bid to its securities.possunt quia posse videntur
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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What this silence means only the devil knows..kwani was there due diligence to be carried and an offer was made? "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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mlennyma wrote:What this silence means only the devil knows..kwani was there due diligence to be carried and an offer was made? How many days are allowble for the share to start trading. The One month window is over but nothing is coming??? I expect a 17-19 Kes for Access!
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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@treaty may your dream come true...meanwhile what justification is there to suspend the share so long.who can i sue?let me talk to my lawyer about it. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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Realtreaty wrote:mlennyma wrote:What this silence means only the devil knows..kwani was there due diligence to be carried and an offer was made? How many days are allowble for the share to start trading. The One month window is over but nothing is coming??? I expect a 17-19 Kes for Access! That's ambitious. It would be nice but ambitious! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 7/20/2012 Posts: 141
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Indeed if the deal didn't go through, why deny investors the right to trade in their investments?
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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mlennyma wrote:@treaty may your dream come true...meanwhile what justification is there to suspend the share so long.who can i sue?let me talk to my lawyer about it. CMA has its own stories... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 1/1/2010 Posts: 511 Location: kandara, Murang'a
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VituVingiSana wrote:mlennyma wrote:@treaty may your dream come true...meanwhile what justification is there to suspend the share so long.who can i sue?let me talk to my lawyer about it. CMA has its own stories... So what happens to me who wrote off My Access shares and swore to never trade them. I want them as relics all 5000 of them and whatever bonus(have they given any BTW?)I am not selling to anybody. Foresight..
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Lets fight against de-listing the company, voluntary selling at 14 or any other price is good deal. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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gatoho wrote:VituVingiSana wrote:mlennyma wrote:@treaty may your dream come true...meanwhile what justification is there to suspend the share so long.who can i sue?let me talk to my lawyer about it. CMA has its own stories... So what happens to me who wrote off My Access shares and swore to never trade them. I want them as relics all 5000 of them and whatever bonus(have they given any BTW?)I am not selling to anybody. If they get 90% acceptance then I think they can 'forcibly' have you sell the shares. If that is NOT the case, then you remain a shareholder but with 90% of the shares DD may choose to de-list AK since it breaches the NSE's Listing rules. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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mlennyma wrote:Lets fight against de-listing the company, voluntary selling at 14 or any other price is good deal. The process of buying from the market is messy [see what Pan Africa is trying to do] hence the "Takeover Offer" but why fight it? Take your money & look elsewhere. Invest in a Private Equity deal & who knows... That can grow 10x 100x 1000x look at Facebook! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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With the type of CMA we have, we are in this for the long haul. many examples come to mind Carbacid, CMC, BOC Thieves
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Ngai!dont say carbacid.it was hell "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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It is going down! Well, not quite but one hurdle cleared. http://www.businessdaily...2/-/15qpjaz/-/index.htmlGreedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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There was already an agreement with one somen brother to up his holding and remain with the 20% holding incase the exemption failed,so this was never a handle. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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mlennyma wrote:There was already an agreement with one somen brother to up his holding and remain with the 20% holding incase the exemption failed,so this was never a handle. They still had applied for the exemption. So now the answer [approved or denied] has been received. So they move to the next step. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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AccessKenya takeover offer at 14/=
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