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Mhasibu Investment Company Limited (MICL) Rights
Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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eco wrote:BGL wrote:I attended the MICL AGM yesterday @ Serena Hotel. Here are the highlights.
- MICL has 327 shareholders with top 10 shareholders holding 51.85% stake and half of them are board members.
- Total assets up to 747mn from 530mn
- Net profit jumped from 7.4mn to 122.7mn in FY 2013.
-EPS up to 101.07 from 6.71
- As is the tradition, no dividend is declared BUT a BONUS of 1 share for every 5 held was passed.
- There is an active OTC market for those wishing to convert their bonus shares into dividend
-The company is looking forward to investing in development of a housing project targeting the middle + lower middle class segment in the future.....a shareholder briefing coming soon. Thank you @BGL for the brief. Did the AGM agree on a new share price? On the sidelines.... the Company Secretary talked of 200bob 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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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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MICL audited financial statement FY2013 http://micl.co.ke/images...nancial%20Statements.pdfHistory 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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Rank: Veteran Joined: 8/11/2010 Posts: 1,011 Location: nairobi
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where are the offices of the company secretary
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Rank: Hello Joined: 11/12/2014 Posts: 5
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The offices are at hughes building 2nd flr.
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Rank: Member Joined: 6/17/2011 Posts: 229
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MICL 2015 Annual General Meeting (AGM) scheduled for Thursday 23rd April, 2015 at Serena Hotel, Allamanda Room starting 6.00pm. Board proposes a bonus issue of 1 share for every 10 held as at 31st December, 2014.
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Rank: Veteran Joined: 1/3/2014 Posts: 1,063
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Now the shares are @sh400?  Consistency is better than intensity
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Rank: Member Joined: 10/14/2011 Posts: 661
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BGL wrote:eco wrote:BGL wrote:I attended the MICL AGM yesterday @ Serena Hotel. Here are the highlights.
- MICL has 327 shareholders with top 10 shareholders holding 51.85% stake and half of them are board members.
- Total assets up to 747mn from 530mn
- Net profit jumped from 7.4mn to 122.7mn in FY 2013.
-EPS up to 101.07 from 6.71
- As is the tradition, no dividend is declared BUT a BONUS of 1 share for every 5 held was passed.
- There is an active OTC market for those wishing to convert their bonus shares into dividend
-The company is looking forward to investing in development of a housing project targeting the middle + lower middle class segment in the future.....a shareholder briefing coming soon. Thank you @BGL for the brief. Did the AGM agree on a new share price? On the sidelines.... the Company Secretary talked of 200bob I also was @ the AGM yesterday, you might have noticed me @ BGL when I seconded some of the resolutions, from yesterdays meeting there might/will be rights issue soon. @eco, the shares are currently trading at a prices above 400.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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The number of share holders looks low.
I there liquidity
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Rank: Member Joined: 10/14/2011 Posts: 661
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streetwise wrote:The number of share holders looks low.
I there liquidity They have not had liquidity issues in the past. A member actually took an issue on the retention of huge bank balances (closing). The directors while explaining this also confirmed an existing arrangement with a kcb.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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BGL wrote:I attended the MICL AGM yesterday @ Serena Hotel. Here are the highlights.
- MICL has 327 shareholders with top 10 shareholders holding 51.85% stake and half of them are board members.
- Total assets up to 747mn from 530mn
- Net profit jumped from 7.4mn to 122.7mn in FY 2013.
-EPS up to 101.07 from 6.71
- As is the tradition, no dividend is declared BUT a BONUS of 1 share for every 5 held was passed.
- There is an active OTC market for those wishing to convert their bonus shares into dividend
-The company is looking forward to investing in development of a housing project targeting the middle + lower middle class segment in the future.....a shareholder briefing coming soon. Clarify that part please "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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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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@murchr that was for full yr 2013. I could not attend the AGM yesterday. I am on a skiing expedition in colorado. 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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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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BGL wrote:@murchr that was for full yr 2013.
I could not attend the AGM yesterday.
I am on a skiing expedition in colorado.  Enjoy your holiday, am sure someone will give the 411; Am not a member here but i might just jump in later in life. "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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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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http://micl.co.ke/images...Financial%20Accounts.pdfHistory 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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Rank: Veteran Joined: 1/3/2014 Posts: 1,063
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It was good to see some of you during the AGM yesterday. The annual bonus of 1.10 was issued. The authorized share capital was increased from 150m to 500M with an intention of adding making it to 1 B by 2020. Consistency is better than intensity
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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PeterReborn wrote:It was good to see some of you during the AGM yesterday.
The annual bonus of 1.10 was issued.
The authorized share capital was increased from 150m to 500M with an intention of adding making it to 1 B by 2020. I was also there and i will do a post on MICL strategy 2.0 ..................... SOON We are looking at creating a petit centum featurng CFA Muchiri. 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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Rank: New-farer Joined: 1/29/2016 Posts: 11 Location: Nairobi
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Hi Wazuans,
Any one of us who has the intention or has taken up their rights in the ongoing rights issue? I noticed the aim to raise about 250m from the rights but that would cover on the land acquisition cost for the Limuru Road project. How are they going to finance the entire project?
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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My eyes are about to shine here on this chip . Anyone with anything good or bad about this bus. Help a brother out
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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enyands wrote:My eyes are about to shine here on this chip . Anyone with anything good or bad about this bus. Help a brother out Just defended my rights 100%. I don't know if the subscription was 100% by the last day [oct 31st] but if not, the untaken rights will be offered to the public as it happened in 2012. 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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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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BGL wrote:enyands wrote:My eyes are about to shine here on this chip . Anyone with anything good or bad about this bus. Help a brother out Just defended my rights 100%. I don't know if the subscription was 100% by the last day [oct 31st] but if not, the untaken rights will be offered to the public as it happened in 2012. Are you telling me it's OK to join this bus,is it safe ?
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Rank: Veteran Joined: 1/3/2014 Posts: 1,063
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We just had the AGM on zoom AGM: Net profit before tax 11.2M compared to 6M in 2019 Dividend payment of kshs 3 per share To divest from the property market. Consistency is better than intensity
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