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Transcentury share swap with Aureos on EA Cables
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mwekez@ji
#1 Posted : Wednesday, February 26, 2014 8:11:14 PM
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Joined: 5/31/2011
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The shareholders of TransCentury Limited (“the Company”) are advised that the Company and Aureos East Africa Fund LLC (“Aureos”) intend to enter into a conditional sale and purchase agreement under which the Company proposes to acquire all of the shares held by Aureos in Cable Holdings (Kenya) Limited (“CHK”) in exchange for shares of the Company, by way of a share swap (“Proposed Transaction”). As you are aware, CHK presently controls 68.38% of the voting shares of East African Cables Limited, listed on the Nairobi Securities Exchange.

Completion of the Proposed Transaction is stated to be conditional upon receipt of regulatory approvals from the Capital Markets Authority and the Nairobi Securities Exchange.

Shareholders will shortly be receiving a detailed circular, which will provide a full explanation of the reasons for and the terms of the Proposed Transaction.

In the meantime, shareholders of the Company are advised to exercise caution when dealing in the Company’s shares until further announcements are made.

By order of the Board of Directors
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mthaka
#2 Posted : Wednesday, February 26, 2014 10:14:53 PM
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this is great news,this strategy makes alot of biz sense
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jawgey
#3 Posted : Wednesday, February 26, 2014 10:15:37 PM
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mwekez@ji wrote:
The shareholders of TransCentury Limited (“the Company”) are advised that the Company and Aureos East Africa Fund LLC (“Aureos”) intend to enter into a conditional sale and purchase agreement under which the Company proposes to acquire all of the shares held by Aureos in Cable Holdings (Kenya) Limited (“CHK”) in exchange for shares of the Company, by way of a share swap (“Proposed Transaction”). As you are aware, CHK presently controls 68.38% of the voting shares of East African Cables Limited, listed on the Nairobi Securities Exchange.

Completion of the Proposed Transaction is stated to be conditional upon receipt of regulatory approvals from the Capital Markets Authority and the Nairobi Securities Exchange.

Shareholders will shortly be receiving a detailed circular, which will provide a full explanation of the reasons for and the terms of the Proposed Transaction.

In the meantime, shareholders of the Company are advised to exercise caution when dealing in the Company’s shares until further announcements are made.

By order of the Board of Directors


Are they cautioning the shareholders not to sell off the shares or what is the meaning of the last paragraph?
Seeing is believing
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mwekez@ji
#4 Posted : Wednesday, February 26, 2014 10:57:14 PM
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mthaka wrote:
this is great news,this strategy makes alot of biz sense


Pls expound
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FUNKY
#5 Posted : Thursday, February 27, 2014 8:36:21 AM
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jawgey
#6 Posted : Thursday, February 27, 2014 8:40:05 AM
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mlennyma
#7 Posted : Thursday, February 27, 2014 9:03:09 AM
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Joined: 7/21/2010
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Location: nairobi
Ea cables is among the poorest perfoming share,tcl has never re-captured its nse entry price..two blind men walking together however they will rally one day.
"Don't let the fear of losing be greater than the excitement of winning."
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FUNKY
#8 Posted : Thursday, February 27, 2014 9:10:39 AM
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mlennyma wrote:
Ea cables is among the poorest perfoming share,tcl has never re-captured its nse entry price..two blind men walking together however they will rally one day.


EA Cables is a sleeping giant it will rally hard one day.
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mlennyma
#9 Posted : Thursday, February 27, 2014 9:29:35 AM
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Agreed on ea cables,its price should be atleast above 40
"Don't let the fear of losing be greater than the excitement of winning."
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jawgey
#10 Posted : Thursday, February 27, 2014 9:45:26 AM
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mlennyma wrote:
Ea cables is among the poorest perfoming share,tcl has never re-captured its nse entry price..two blind men walking together however they will rally one day.


What was TCL entry price?
Seeing is believing
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mthaka
#11 Posted : Thursday, February 27, 2014 6:12:28 PM
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jawgey wrote:
mlennyma wrote:
Ea cables is among the poorest perfoming share,tcl has never re-captured its nse entry price..two blind men walking together however they will rally one day.


What was TCL entry price?

it was kshs.50 hitting an all time high of 60,many analyst believe this counter is undervalued
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Fyatu
#12 Posted : Friday, February 28, 2014 9:00:49 AM
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this laggard is only for intelligent investors
Dumb money becomes dumb only when it listens to smart money
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streetwise
#13 Posted : Friday, February 28, 2014 9:24:36 AM
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TCL...so what will make it become vibrant..it is rural electrification the standard railway line may be they will use some of the cables there. Basically the question is where is the big market for this company.
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jawgey
#14 Posted : Friday, February 28, 2014 12:05:03 PM
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streetwise wrote:
TCL...so what will make it become vibrant..it is rural electrification the standard railway line may be they will use some of the cables there. Basically the question is where is the big market for this company.



Don't forget the potential oil market owing to what is happening in Turkana. They are providing the infrastructure.
Seeing is believing
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Aguytrying
#15 Posted : Friday, February 28, 2014 2:37:18 PM
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How much is Transcentury buying per share?
The investor's chief problem - and even his worst enemy - is likely to be himself
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dunkang
#16 Posted : Saturday, March 01, 2014 5:23:21 AM
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Ain't this confirming to us that they are using money obtained from selling RVR to CITADEL to buy more E.A Cables?

This is not a bad idea. They just break even in RVR, dispose their share, invest elsewhere.

And the world copper prices in 2013 at the LME behaved this way!

Receive with simplicity everything that happens to you.” ― Rashi

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Aguytrying
#17 Posted : Saturday, March 01, 2014 7:15:32 AM
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what catches my investing eye with this deal is cables. why go out of their way to acquire as much as they can? must be something good happening to cables in the future.
The investor's chief problem - and even his worst enemy - is likely to be himself
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Fyatu
#18 Posted : Sunday, March 02, 2014 7:08:12 PM
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what if they held to their RVR stake?
Dumb money becomes dumb only when it listens to smart money
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VituVingiSana
#19 Posted : Sunday, March 02, 2014 8:00:15 PM
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dunkang wrote:
Ain't this confirming to us that they are using money obtained from selling RVR to CITADEL to buy more E.A Cables?

This is not a bad idea. They just break even in RVR, dispose their share, invest elsewhere.

And the world copper prices in 2013 at the LME behaved this way!
TCL is not using cash to buy Aureos shares in EAC. It's a share swap. Aureos gives TCL shares in EAC [via CHK] and Aureos gets shares in TCL. No cash changes hands.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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sparkly
#20 Posted : Sunday, March 02, 2014 11:09:37 PM
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Aguytrying wrote:
what catches my investing eye with this deal is cables. why go out of their way to acquire as much as they can? must be something good happening to cables in the future.


My understanding is that the deal enables Aureos to exit cables business. In return Aureos get a stake in the other profitable ventures of Transcentury or even sell their stake through the nse.
Life is short. Live passionately.
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