#Noted. The disposal of the 34% stake in Rift Valley Railways RVR) realizing KES 3.8bn in cash. TCL has issued a profit warning for 2014 when the full write-down of the fair value loss will be done (2012 fair value for RVR was KES 3.85bn, which will likely have been raised further in 2013). From our estimates, we see a strong likelihood that TCL will post a loss in 2014. We see the funds raised as likely to focus on short payback projects ahead of a 2016 repayment of a KES 5.1bn convertible bond (with the current share price, bondholders are unlikely to convert). (sib)

Seems like Transcentury is gaining grounds again!!

anybody with demand vs supply data on tranny today?

Don't just quote IAS/IFRS willy nilly without applying them to the situation. The sale of the RVR stake is a non-adjusting post balance sheet event. IAS 10 requires that such events SHOULD BE DISCLOSED but should not adjust the accounts for that year.

"Non-adjusting events should be disclosed if they are of such importance that non-disclosure would affect the ability of users to make proper evaluations and decisions. The required disclosure is (a) the nature of the event and (b) an estimate of its financial effect or a statement that a reasonable estimate of the effect cannot be made. [IAS 10.21]"

It almost felt like a movie. Only chess will save us. But i dont think its going to be all rosy for Cidatel, and RVR in particular. Dang! TCL would be very juicy if it transported oil via rail, they now need some serious strategy meeting

Now that TCL is out of RVR, we see that GoK is putting the screws on RVR/Citadel since the 'power guys' are now out to snatch the railway/RVR from Citadel without paying them...

steady demand for this laggard in the past one month...serious turnover today ama its the share swap with aueros??