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Home Afrika Listing at NSE!
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Aguytrying
#1031 Posted : Wednesday, February 24, 2016 11:54:52 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
"The company has made a cumulative net loss of Sh126.4 million in the six years ended 2014.

Minority interests in the various property projects have meanwhile earned a net profit of Sh93.3 million in the same period."

This is where the rubber meets the road.

The 15 billion is their final play, the climax of the performance since it listed. After that you will never see them again. And if you do, the minority will be the beneficiaries still making profits from this new cash.
The investor's chief problem - and even his worst enemy - is likely to be himself
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Sober
#1032 Posted : Wednesday, February 24, 2016 11:59:18 AM
Rank: Elder

Joined: 11/27/2007
Posts: 3,604
VituVingiSana wrote:
Sam_Kibs wrote:
Metch wrote:
Sam_Kibs wrote:
enyands wrote:
[quote=Sam_Kibs]Rights issue looming and i will defend my rights.
http://www.businessdaily...4/-/gpgm3p/-/index.html[/quote]

Utachomeka

ready to chomeka. this CEO seems to be having some direction.


@Sam_kibs, what i figured from this announcement is they are back to fundraising because they are not selling. all their money is tied up in inventory. you have no business pegging your hopes on a firm that cannot sell.

i will revisit this thread in 2020

I will be filed under *Bankrupt*


The company has made a cumulative net loss of Sh126.4 million in the six years ended 2014. This to me looks like a sound company. Not as bad as some people project. How are they paying the Ksh 500 million bond at the 17% interest rate?
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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VituVingiSana
#1033 Posted : Wednesday, February 24, 2016 10:18:33 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Sober wrote:
VituVingiSana wrote:
Sam_Kibs wrote:
Metch wrote:
Sam_Kibs wrote:
enyands wrote:
[quote=Sam_Kibs]Rights issue looming and i will defend my rights.
http://www.businessdaily...4/-/gpgm3p/-/index.html[/quote]

Utachomeka

ready to chomeka. this CEO seems to be having some direction.


@Sam_kibs, what i figured from this announcement is they are back to fundraising because they are not selling. all their money is tied up in inventory. you have no business pegging your hopes on a firm that cannot sell.

i will revisit this thread in 2020

I will be filed under *Bankrupt*


The company has made a cumulative net loss of Sh126.4 million in the six years ended 2014. This to me looks like a sound company. Not as bad as some people project. How are they paying the Ksh 500 million bond at the 17% interest rate?

By using the funds they got from the Bond. It's also known as a pyramid scheme.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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murchr
#1034 Posted : Monday, March 21, 2016 2:20:24 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
CMA Report wrote:
Home Afrika Limited

By marketing the bond as a partially secured
bond and further commencing the process of
encumbering the assets of a subsidiary of the
Issuer, and by purporting to revise the Coupon
Rate to 17%, the Issuer was in contravention of
the terms of approval issued by the Authority.

In the knowledge that the changes above were
inconsistent with the approved Information
Memorandum and contrary to the terms of
approval issued by the Authority thereby
causing the publication and marketing
of unapproved terms of a public offer, in
contravention of Section 30A (4) of the Capital
Markets Act.

By marketing an unapproved Information
Memorandum, the Issuer knowingly
misinformed the public in a false, misleading
and /or deceptive manner that the issue was
a partially secured bond in contravention of
Section 30D (1) of the Capital Markets Act

Enforcement Action

• A Regulatory caution pursuant to section 30G of the
Capital Markets Act;
• Pursuant to Section 11(3)(cc)(ii) and 30G of the Capital Markets Act, an enforcement directive to the Issuer to ensure full reimbursement of all the investors who
submitted applications and funds as subscribers to the
offer.

"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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maka
#1035 Posted : Monday, March 21, 2016 2:23:20 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
VituVingiSana wrote:
Sober wrote:
VituVingiSana wrote:
Sam_Kibs wrote:
Metch wrote:
Sam_Kibs wrote:
enyands wrote:
[quote=Sam_Kibs]Rights issue looming and i will defend my rights.
http://www.businessdaily...4/-/gpgm3p/-/index.html[/quote]

Utachomeka

ready to chomeka. this CEO seems to be having some direction.


@Sam_kibs, what i figured from this announcement is they are back to fundraising because they are not selling. all their money is tied up in inventory. you have no business pegging your hopes on a firm that cannot sell.

i will revisit this thread in 2020

I will be filed under *Bankrupt*


The company has made a cumulative net loss of Sh126.4 million in the six years ended 2014. This to me looks like a sound company. Not as bad as some people project. How are they paying the Ksh 500 million bond at the 17% interest rate?

By using the funds they got from the Bond. It's also known as a pyramid scheme.


Laughing out loudly Laughing out loudly
possunt quia posse videntur
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Metch
#1036 Posted : Monday, March 21, 2016 2:31:08 PM
Rank: Member

Joined: 12/22/2015
Posts: 224
Location: Mombasa, Kenya
Sober wrote:
VituVingiSana wrote:
Sam_Kibs wrote:
Metch wrote:
Sam_Kibs wrote:
enyands wrote:
[quote=Sam_Kibs]Rights issue looming and i will defend my rights.
http://www.businessdaily...4/-/gpgm3p/-/index.html[/quote]

Utachomeka

ready to chomeka. this CEO seems to be having some direction.


@Sam_kibs, what i figured from this announcement is they are back to fundraising because they are not selling. all their money is tied up in inventory. you have no business pegging your hopes on a firm that cannot sell.

i will revisit this thread in 2020

I will be filed under *Bankrupt*


The company has made a cumulative net loss of Sh126.4 million in the six years ended 2014. This to me looks like a sound company. Not as bad as some people project. How are they paying the Ksh 500 million bond at the 17% interest rate?


those two statements are not supposed to follow each other. doesn't help the point you are trying to make
Start!
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littledove
#1037 Posted : Wednesday, March 23, 2016 9:42:14 AM
Rank: Veteran

Joined: 7/1/2014
Posts: 927
Location: sky
http://www.standardmedia.co.ke/business/article/2000195789/cma-orders-home-afrika-to-refund-bond-subscribers-sh300-million

CMA ruled that the changes, contrary to the information memorandum Home Afrika presented and terms of approval of the ill-fated bond, constitute a deliberate "misinformation or deception" of the public. The authority has since demanded Home Afrika to refund the raised amount even though the corporate bond was under-subscribed by 60 per cent. CMA has also penalised NIC Capital and Kingdom Securities, the bond advisors for misleading Home Afrika to revise the coupon rate from 13.5 to 17 per cent.
Read more at: http://www.standardmedia...bscribers-sh300-million

where will they get money to refund?
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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mlennyma
#1038 Posted : Wednesday, March 23, 2016 9:45:22 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
littledove wrote:
http://www.standardmedia.co.ke/business/article/2000195789/cma-orders-home-afrika-to-refund-bond-subscribers-sh300-million

CMA ruled that the changes, contrary to the information memorandum Home Afrika presented and terms of approval of the ill-fated bond, constitute a deliberate "misinformation or deception" of the public. The authority has since demanded Home Afrika to refund the raised amount even though the corporate bond was under-subscribed by 60 per cent. CMA has also penalised NIC Capital and Kingdom Securities, the bond advisors for misleading Home Afrika to revise the coupon rate from 13.5 to 17 per cent.
Read more at: http://www.standardmedia...bscribers-sh300-million

where will they get money to refund?

this is just one among many,some companies are not worth to be trading ,watapewa nyumba or wakatiwe shambasmile
"Don't let the fear of losing be greater than the excitement of winning."
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WWW
  | | Edit by user: Wednesday, March 23, 2016 9:47 AM | Reason: Not specified
Othelo
#1039 Posted : Wednesday, March 23, 2016 10:00:39 AM
Rank: User

Joined: 1/20/2014
Posts: 3,528
mlennyma wrote:
littledove wrote:
http://www.standardmedia.co.ke/business/article/2000195789/cma-orders-home-afrika-to-refund-bond-subscribers-sh300-million

CMA ruled that the changes, contrary to the information memorandum Home Afrika presented and terms of approval of the ill-fated bond, constitute a deliberate "misinformation or deception" of the public. The authority has since demanded Home Afrika to refund the raised amount even though the corporate bond was under-subscribed by 60 per cent. CMA has also penalised NIC Capital and Kingdom Securities, the bond advisors for misleading Home Afrika to revise the coupon rate from 13.5 to 17 per cent.
Read more at: http://www.standardmedia...bscribers-sh300-million

where will they get money to refund?

this is just one among many,some companies are not worth to be trading ,watapewa nyumba or wakatiwe shambasmile

smile
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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whiteowl
#1040 Posted : Wednesday, March 23, 2016 10:24:11 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
littledove wrote:
http://www.standardmedia.co.ke/business/article/2000195789/cma-orders-home-afrika-to-refund-bond-subscribers-sh300-million

CMA ruled that the changes, contrary to the information memorandum Home Afrika presented and terms of approval of the ill-fated bond, constitute a deliberate "misinformation or deception" of the public. The authority has since demanded Home Afrika to refund the raised amount even though the corporate bond was under-subscribed by 60 per cent. CMA has also penalised NIC Capital and Kingdom Securities, the bond advisors for misleading Home Afrika to revise the coupon rate from 13.5 to 17 per cent.
Read more at: http://www.standardmedia...bscribers-sh300-million

where will they get money to refund?


Looks like the CMA finally woke up from their self induced coma.
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