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How true is FEP??
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BGL
#71 Posted : Friday, October 31, 2014 4:50:43 PM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
BGL wrote:
I managed to attend the FEP AGM at Hotel Suntec - SAGANA

The AGM business started 3hrs late and the CEO and Chairman read through their entire written report.
-Job Kihumba of STANDARD INVESTMENT BANK (SIB) will be responsible for the OTC market which will be operational by August 2014.
-A rights issue is on the works and 420million ordinary shares will be offered to investors via a PRIVATE private offer. SIB are the lead transaction advisers and are working on the information memorandum. If the existing shareholders cannot take up all the 420mn shares on offer, other shareholders will be INVITED to participate. To be eligible to participate you will first and foremost be a CHRISTIAN.
-All FEP shareholders will get shares in fountain DTM once the license is issued.... there will be another AGM to ratify the same.
-FEP shareholders should visit any FEP office 7 days post AGM to verify their details before the share certificates are printed or fill in some shareholder details forms available at the AGM venue
-The net profit arising from operations was 22.7mn from 16.9mn last year. However the total comprehensive income reported is 1.17bn as a result of value gain in investment property.
-Shareholder funds grew from 1.62bn to 3.71bn this year
-What made shareholders happy was the two bonus share for every share held. The annual report and financial statements were provided during the meeting which was an ambush as we did not have time to go through them. Likewise the articles of association which only the management knew about.

I will post the photos of the hotel in due course.



FEP Holdings Ltd (FHL) rights is running till the end of November. This info is for those brothers out there in the diaspora who check on what is happening in Kenya from Wazua. A right is Ksh 15.00
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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  | | Edit by user: Friday, October 31, 2014 4:53 PM | Reason: Not specified
jerry
#72 Posted : Friday, October 31, 2014 6:47:34 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
I hope the shareholders are unable to take up all their rights so that I get a chance of joining this group. It' s far much better than Family Bank rights.
The opposite of courage is not cowardice, it's conformity.
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eco
#73 Posted : Sunday, November 02, 2014 1:36:31 AM
Rank: Member

Joined: 6/17/2011
Posts: 229
jerry wrote:
I hope the shareholders are unable to take up all their rights so that I get a chance of joining this group. It' s far much better than Family Bank rights.


If not already in, it may be too late to participate in the PPO. FEP closed membership register some few months ago. Only members can take up the Rights @ KES 15, or buy new shares @ 17 bob per share.
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BGL
#74 Posted : Sunday, November 02, 2014 9:09:45 AM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
eco wrote:
jerry wrote:
I hope the shareholders are unable to take up all their rights so that I get a chance of joining this group. It' s far much better than Family Bank rights.


If not already in, it may be too late to participate in the PPO. FEP closed membership register some few months ago. Only members can take up the Rights @ KES 15, or buy new shares @ 17 bob per share.


@eco could you be having the information memorandum?
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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INTJ
#75 Posted : Sunday, November 02, 2014 2:16:12 PM
Rank: Hello

Joined: 11/2/2014
Posts: 2
Location: Kenya
A few things stand out about FEP:
1. They are offering a PPO but they haven't given us the PPM (Private Placement Memorandum) which should inform potential investors about the company's history, what they intend to do with the money and so on.
2. On their site you only get last 2013/2012 financial statements (not really enough to tell the whole story) and while trying to get more previous ones there's been no replies.
3. An analysis of the available statement reveals 'interesting' details; like a growth of 357% in income (which they call turnover).
Freedom is to die for your belief!
Freedom is to live for your cause!
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jerry
#76 Posted : Sunday, November 02, 2014 9:31:27 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
INTJ wrote:
A few things stand out about FEP:
1. They are offering a PPO but they haven't given us the PPM (Private Placement Memorandum) which should inform potential investors about the company's history, what they intend to do with the money and so on.
2. On their site you only get last 2013/2012 financial statements (not really enough to tell the whole story) and while trying to get more previous ones there's been no replies.
3. An analysis of the available statement reveals 'interesting' details; like a growth of 357% in income (which they call turnover).

When I called at their offices to find out if I was eligible to participate in PPO, I was given an option of investing in Eagles Club and Health! I couldn't understand "Eagles" from their web-site. When you go through the literature in the web it appears like a CSR and not an investment! However, given a chance I could invest in Fountain DTM.
The opposite of courage is not cowardice, it's conformity.
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INTJ
#77 Posted : Monday, November 03, 2014 8:50:09 AM
Rank: Hello

Joined: 11/2/2014
Posts: 2
Location: Kenya
They are not a pyramid scheme; they are investing in actual sustainable businesses. Their problem is that they are vague and seem to rely on emotions rather than cold hard facts to get people to invest ergo the insane returns projected and invoking the name of God which is exactly what the pyramid schemes did! There'e not much information on the PPO anywhere except in their meetings (which I've attended) and this makes me feel not too comfortable. What does the CMA have to say about this?
Just an observation, what is their unique selling point?
Freedom is to die for your belief!
Freedom is to live for your cause!
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BGL
#78 Posted : Thursday, November 06, 2014 8:07:15 PM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
The organization of the whole exercise is #PEDESTRIAN
I am off.
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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  | | Edit by user: Friday, November 07, 2014 3:50 AM | Reason: Not specified
mnjoro
#79 Posted : Friday, November 07, 2014 4:54:44 PM
Rank: Member

Joined: 2/21/2009
Posts: 573
BGL wrote:
The organization of the whole exercise is #PEDESTRIAN
I am off.

What do you mean?
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BGL
#80 Posted : Friday, November 07, 2014 6:31:02 PM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
mnjoro wrote:
BGL wrote:
The organization of the whole exercise is #PEDESTRIAN
I am off.

What do you mean?


del....
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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  | | Edit by user: Friday, November 07, 2014 6:51 PM | Reason: Not specified
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