What is wrong with this name Cooperative? Judging by recent events in UK and now in Kenya, it is just an antithesis.

This report by Mars Group Kenya puts down the facts of what has been known by Coop staff and market operatives for quite some time:
http://www.marsgroupkenya.org/b...independent-report-2012/

1. Apr 2007 saw bank directors and senior staff acquire Class B shares with over 50% sold to directors and Mr. Gideon Muriuki as key beneficiary, just before the IPO.

2. The shares were infact financed by loans from same institution and related SACCO, and issued in a manner to obtain connivance from senior staff, including dividends.


But what to do, Nairobi Securities Exchange is a stuffed old boys club. Can they really chastise their member - Kingdom Securities? At first glance, this Kingdom is definitely one of this world, not the next?

Let us accept and move on.
Share price past Friday: 18.10

Kenya yetu ni nchi ya ajabu!!!

Sing along if you may.

Seriously?? Insider trading!! Read full report HERE

Pesa Nane insider trading is when an employee buys/sells a stock when they know the results in the book either to cash in or to avoid a loss. ESOP is a benefits program that enables employees to buy shares at discounted prices before listing or when trading. Its not illegal but in this case it "could" have been deemed immoral.

Dont get carried away by these alarmist NGO's

ESOP? If this deal was above board all staff should have been allowed to buy the shares at 100 bob for 100 shares, and not compeled to buy shares at the IPO at 9 bob per share.