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Class A verses Class B shares
Yoursmile
#1 Posted : Saturday, March 15, 2014 10:03:00 AM
Rank: New-farer


Joined: 3/8/2014
Posts: 13
Hi Wazuans ,

I find myself in a precarious situation where I purchased shares which I wanted to trade in only to find out later that they are class A shares that can only be transferred and not traded .

My question .How would I go about converting them to tradable shares .I am absolutely new at this.Clearly ..d'oh!
VituVingiSana
#2 Posted : Saturday, March 15, 2014 12:40:35 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,124
Location: Nairobi
Yoursmile wrote:
Hi Wazuans ,

I find myself in a precarious situation where I purchased shares which I wanted to trade in only to find out later that they are class A shares that can only be transferred and not traded .

My question .How would I go about converting them to tradable shares .I am absolutely new at this.Clearly ..d'oh!

What firm?
Do you know the conditions?
Have you asked the Registrar or Company Secretary?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
PKoli
#3 Posted : Saturday, March 15, 2014 1:35:02 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
VituVingiSana wrote:
Yoursmile wrote:
Hi Wazuans ,

I find myself in a precarious situation where I purchased shares which I wanted to trade in only to find out later that they are class A shares that can only be transferred and not traded .

My question .How would I go about converting them to tradable shares .I am absolutely new at this.Clearly ..d'oh!

What firm?
Do you know the conditions?
Have you asked the Registrar or Company Secretary?


The class A shares that I know of are Coop and CIC. I was in a similar dilemma a few years ago when I bough CIC through one of the brokers only to realize they were class A shares. The only way was for me to transfer them to Sacco that we had started with friends. It took two years for the entire process to be completed.

My advise is if they are any of the above shares is for you to sell them to a Sacco. Obviously, at a very huge discount.
Yoursmile
#4 Posted : Wednesday, March 19, 2014 8:53:06 PM
Rank: New-farer


Joined: 3/8/2014
Posts: 13
How would I go about selling the shares ? They are CIC shares and there is a sacco offering to buy them at 2 bob which I feel is ridiculous h.However there seems to be no other way to offload these shares .My reasoning is that since CIC is about 8 bob these shares should be at the same price almost ?
jerry
#5 Posted : Wednesday, March 19, 2014 9:14:27 PM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
Yoursmile wrote:
How would I go about selling the shares ? They are CIC shares and there is a sacco offering to buy them at 2 bob which I feel is ridiculous h.However there seems to be no other way to offload these shares .My reasoning is that since CIC is about 8 bob these shares should be at the same price almost ?

I almost bot similar Coop shares at 6/= when ordinary ones were going for ~15/=
The opposite of courage is not cowardice, it's conformity.
murchr
#6 Posted : Wednesday, March 19, 2014 9:33:18 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
Quick question, on ur cdsc what is the abbreviation of these shares?
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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