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target1360
#676 Posted : Tuesday, May 26, 2015 7:34:04 PM
Rank: Member

Joined: 5/14/2014
Posts: 289
Location: nairobi
what would stop these. founder members from giving themselves a bonus of say 20 shares for every. share held in 2009?
I find satisfaction in owning great business,not trading them
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MaichBlack
#677 Posted : Tuesday, May 26, 2015 7:42:42 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,833
target1360 wrote:
in short we got shafted.

It still can be reversed or preempted by Unaitas legally binding itself not to do it.

But fellows who had bought shares as far back as 2009 - 2013 surprise me!!! That should have be a very hot debate issue at the AGM!!! With the proper people and debate even the original bonus would have had a problem going through if it was not clearly articulated before they invited the public! You can't wake up one day and say "by the way, we are rewarding those who were there before 2009 - which is four years ago!".

At THE VERY LEAST shareholders should have got a legally binding undertaking that that was not going to happen again!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#678 Posted : Tuesday, May 26, 2015 7:56:18 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,833
target1360 wrote:
what would stop these. founder members from giving themselves a bonus of say 20 shares for every. share held in 2009?

They might actually do it! Believe me.

Saccos work in a very funny way. When management knows something is contentious, there is no balloting - as in casting of ballots. One person proposes and another one seconds and the rest of you can go to hell!!! It is extremely easy for the minority to f@#k the majority over in a Sacco setting. Anyone who has ever been to a Sacco's AGM knows this!!!

And money corrupts! Power corrupts!!! Now combine money and power!! There is every chance there are a couple of fellows who are plotting how they can become the next James Mwangi - By whatever means necessary! Even if it means 20 bonus shares for every share held by the "Very Original Founder Members".

And that is why there is a lot of murder in Saccos and land buying companies. There is ALWAYS a person or a group of people planning how they will shaft the rest.

Guys, don't bury your heads in the sand. Don't imagine Unaitas is the only institution run by angels in the world. You need the law on your side!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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streetwise
#679 Posted : Tuesday, May 26, 2015 9:04:11 PM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
Remember money is a finite resource like any other so for you to get rich you need a bigger share than the other guy.

And now that we are here i remember the Gova split kenya geothermal co from kengen a quoted Co and no one talked
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BGL
#680 Posted : Tuesday, May 26, 2015 9:23:54 PM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
They have annual delegates meetings not annual general meetings. Guess who the delegates are?
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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enyands
#681 Posted : Tuesday, May 26, 2015 9:48:10 PM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
BGL wrote:
They have annual delegates meetings not annual general meetings. Guess who the delegates are?



Tell us please
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MaichBlack
#682 Posted : Tuesday, May 26, 2015 10:03:57 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,833
BGL wrote:
They have annual delegates meetings not annual general meetings. Guess who the delegates are?

"Founder Members".

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

Okay. Not a laughing matter!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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enyands
#683 Posted : Tuesday, May 26, 2015 10:20:30 PM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
MaichBlack wrote:
BGL wrote:
They have annual delegates meetings not annual general meetings. Guess who the delegates are?

"Founder Members".

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

Okay. Not a laughing matter!!!
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Dahatre
#684 Posted : Tuesday, May 26, 2015 10:43:20 PM
Rank: Member

Joined: 12/21/2009
Posts: 602
Good to see a healthy dose of skepticism here..

Its sobering to remember that once you buy in you cannot get out..literally. Shares are not redeemable, you cannot borrow against them or sell them to someone else officially.
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MaichBlack
#685 Posted : Tuesday, May 26, 2015 10:50:37 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,833
Dahatre wrote:
Good to see a healthy dose of skepticism here..

Its sobering to remember that once you buy in you cannot get out..literally. Shares are not redeemable, you cannot borrow against them or sell them to someone else officially.

Was actually wondering (maybe overthinking) why will they not allow you to borrow against your shares if they are worth something. They could do the normal haircut. If you have shares worth one million you can borrow 700k for example. Kwanini wanaogopa shares zao kama collateral??

#JustAsking.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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BGL
#686 Posted : Tuesday, May 26, 2015 11:18:46 PM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
If anyone wants to join UNAITAS join like yesterday. Do not get caught up with Paralysis of Analysis of the educated middle class.

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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Boris Boyka
#687 Posted : Tuesday, May 26, 2015 11:45:01 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
Unaitas will have to ensure the legal part is done or else they forget the cash they target. Good to note Management is around. Socio media will kill you @unaitas...take care!!!
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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streetwise
#688 Posted : Wednesday, May 27, 2015 7:39:39 AM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
That is true forget delegates, socio media is the king nowadays...watch out.

Pay a penny and the story will be out within the hour if not less.

And that is good we are helping you to shape up
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Mukiri
#689 Posted : Wednesday, May 27, 2015 8:26:03 PM
Rank: Elder

Joined: 7/11/2012
Posts: 5,222
Dahatre wrote:
Good to see a healthy dose of skepticism here..

Its sobering to remember that once you buy in you cannot get out..literally. Shares are not redeemable, you cannot borrow against them or sell them to someone else officially.

That, and we are in a bear market. If targets are realized, and it gets into the market, prices might fall. Realizing profits, may take a while.. let alone the capital.

Proverbs 19:21
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gatoho
#690 Posted : Thursday, May 28, 2015 8:41:01 PM
Rank: Member

Joined: 1/1/2010
Posts: 518
Location: kandara, Murang'a
enyands wrote:
MaichBlack wrote:
BGL wrote:
They have annual delegates meetings not annual general meetings. Guess who the delegates are?

"Founder Members".

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

Okay. Not a laughing matter!!!




I asked them how I become a delegate and got no answer
Foresight..
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