Interesting. Have you bought any of those reports. pls send us, wazua@googlegroups.com cc 2mwekezaji@gmail.com

... & @the deal, you may consider selling your report to reuters. Chaps are buying a report there at KES 11K!!!

I am stillwaiting for KQ to raid the Exchequer over the next 12 -15 months unless a miracle happens. I can't see them not doing so if they make a loss again. From estimates the raid could be between 15B to 30B due to last year's loss!

Just wondering what analyst are talking about. Probably rolling forward their models at their home pubs. Casual Q&A with management would change a lot of those recomms!

From April 2012. And to think folks bought more shares in KQ during the Rights Issue!

http://coldtusker.blogsp...ya-airways-rip-off.html

FACTS:

titus naikuni, the CEO, has ZERO shares in KQ. Sufuri, Nada, Zilch. Hakuna!
alex mbugua, the CFO, has 6,054 shares in KQ worth KES 84,750 (at 14/- each)
The 2 Executive Directors compensation for 2010-11 was KES 66,000,000/-
The Net Asset Value per Share = KES 50
Rights Issue Price = 14/-
Rights Offer Entitlement: 16:5 (That's 3.2 'new' shares to be paid for for each 1 held)

So whereas titus and alex are paid KES 5.5 MILLION per month by KQ between them they have shares worth 85,000/-.
That's a decimal point of a decimal point. The salaries are not affected by how much Shareholder Value they destroy.

KQ's Net Asset Value as of 31st March 2011 (Last Audited Accounts) was KES 23,090,000,000 which divided by 461,615,484 shares = KES 50/- (NAV/Share)

The Board of Directors (excluding 'corporate directors' viz Treasury/Govt of Kenya & KLM) have less than 25,000 shares. The largest chunk is 10,090 held by the chairman.

The BoD got benefits & fees of KES 12 Million in 2010-11 (12 months)

So the BoD which owns a piddling (less than) 25,000 shares worth (at 14/-) max market value value of 350,000/- ... decided to sell Rights at 14/- at a ratio of 16:5 (3.2:1).

Expect request to echequer sooner than later.