Fundamentally, the stock is still expensive and with the news that its losing business......mmmh!!! Maybe the seemingly "Cheap" price will play well with the psychologically.

Following the legal settlement, Britam will recover high-value land in Nairobi, which includes five acres in Kileleshwa, 2.5 acres along Elgon Road in Upper Hill, 25 acres in Mlolongo and 182 acres in Lukenya, Machakos County.

“These projects have an estimated value of Sh40 billion. Acorn has also agreed to transfer back to Britam the mandate to operate the various bank accounts and cash balances in relation to these projects

Erm how have they been "cornered" cases were dropped? The settlement was with Acorn giving up land and britam giving up stake in Acorn. Cytonn has no interests in Acorn.

And i believe its Dande not whatever u wrote.

Point being these 3 groups can now get down to business vs running in and out of court all day.

PRESS RELEASE
BRITAM AND ACORN AGREE TO SETTLE A MULTI -BILLION DISPUTE OUT OF
COURT
Nairobi, October 22/15… The High Court has approved an out-of court settlement between diversified financial services Group, Britam and property management development company, Acorn over a multi-billion shilling dispute.

Under the terms of the deal, Acorn has agreed to return over KSh5 billion in cash and land that had been purchased with funds irregularly transferred to the firm by Britam ex-employees.

Following the legal settlement, Britam will recover high-value land in Nairobi, which includes 5 acres in Kileleshwa, 2.5 acres along Elgon Road in Upper Hill, 25 acres in Mlolongo and 182 acres in Lukenya, Machakos County. These projects have an estimated value of Ksh 40 billion. Acorn has also agreed to transfer back to Britam the
mandate to operate the various bank accounts and cash balances in relation to these projects.

On its part, Britam has agreed to relinquish its interests in Acorn Group and projects initiated by the firm on Jogoo Road, Baba Dogo, Lavington and Kitengela. Under the terms of the negotiated agreement, Britam has further agreed not to pursue any criminal complaint against Acorn or any of its directors. The criminal case against Britam’s ex-employees will continue to be pursued.

The dispute pitting Britam against Acorn and Britam’s former employees started late last year, sparking what became one of the most high-profile court battles in Kenya’s corporate history. Britam, through its lawyers, Fred Ngatia, filed five suits against Acorn and its affiliated entities, as well as the former employees in a bid to recover over Sh5 billion that had been irregularly transferred from Britam to Acorn and its related entities.

In a rejoinder, Acorn directors filed judicial review applications at the High Court to stop criminal and civil proceedings against them.
This agreement is between Britam and Acorn only, and excludes the ex-employees. It effectively reverses the irregularly transferred funds and land which had been acquired
without the requisite approval and authority from the Britam board.

Britam Group Managing Director Dr Benson Wairegi said that the two companies had reached an amicable out of court agreement with respect to the legal dispute that arose last year. The settlement has been recorded in Court and the lawsuits between Britam and Acorn withdrawn.
“Under the terms of the settlement, Britam and Acorn have agreed to pursue their real estate strategies independently. The settlement is only between Britam and Acorn,” said Dr Wairegi.

About British-American Investments Company (Kenya) Limited
Britam is a leading diversified financial services group, listed on the Nairobi Securities Exchange. The group has interests across the Eastern and Southern Africa region, with offices in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi.
The company offers a wide range of financial products and services in Insurance, Asset management, Banking and Property. The product range includes: life, health and general insurance, pensions, unit trusts, investment planning, wealth management, offshore investments, retirement planning, discretionary portfolio management, Property
development and private Equity.

For more information please visit http://www.britam.co.ke/

Britam withdraws all five suits filed against cytonn and / or its founding directors

October 22, 2015

NAIROBI, October 22 2015 – Britam has today withdrawn all the five suits filed against Cytonn and its founding directors. As we have always held, these were malicious suits, without merit, and were filed with the sole intention of frustrating the team that left Britam to go for a competing investment and real estate business, Cytonn Investments and Cytonn Real Estate. We have always been confident that the suits were without merit and we are glad to note that all the 5 civil suits against Cytonn and or its founding team have been withdrawn.

As contained in our responding affidavits, Britam has never lost any money as they had claimed in the suits that they have since withdrawn. Instead, this was a commercial dispute that involved 2 aspects:

On its part, Britam ex-employees left Britam because of their refusal to be part of undermining the interest of investors.
Britam wanted approximately Kshs. 5 billion of deals that were financed largely by BAAM investors’ money and developed by Acorn Group. Britam and Acorn have agreed to part ways and as part of that, Acorn has given up its interest in developing the disputed deal pipeline and the assets.
Britam have withdrawn the malicious lawsuit, on its part Cytonn will now file for a judgment on costs.

We take note of the press statement by Britam that monies were transferred irregularly, those remain assertions by Britam and the issue of irregular transfers was not heard and or determined by any court and purely remain Britam’s views. We wish to lay out the fact pattern:

Britam employees disagreed with the board and management of Britam based on Britam’s attempt to undermine the interest of the investing public, and the Cytonn team left to form its own business.

I dont think Cytonn is small. I have invested with them. They are an extremely well oiled machine.very efficient They have projects worth 50B in the pipeline. Britam, im sure are scared. Their best minds have left them, to compete with them! These court cases seem frivolous.

i have a very strong feeling the Ksh 50 Billion worth of projects is a figure picked from the media. This was cast by Cytonn to show they are a force to reckon.

Let us break down the 50B.
The Amara Ridge project that sits on 5 acres in Karen is said to be about 1B consisting of 10 5-bedroom houses each with a sale price of 95 million with the construction scheduled to take 2 years

Now, considering the aforementioned we now have to account for the remaining 49 Billion. In addition to the Amara Ridge we have the following projects in the pipeline: Lukenya, Mavoko, Athi River, Kiambu and Ruaka(no real figures were attached to these).

Most of their muscle will come from Talleri(principle investor) I can confirm. But where is the 49 Billion? considering the company is 12 months onld in terms or registration.

I can give them 5 Billion on the higher side.