@RealTreaty your argument is also a possibility. But do we need ordinary or special general meeting to ratify that move which was not the case? If the reserves were used to buy Dawood Rawat stake the subsequent bonus shares, if any, may have not material dilution to existing ownership. When management comes out strongly to issue a good news statement like using reserves to take up Dawood stake, bonus issue, expansionary plans and flat-like dividends expect a rocket rally. I can't imagine Wanjiko surviving the upward stampede of the titans as supply runs dry! However, using reserves by a company to buy its own stock is like a buyback. In Kenya company law, buyback was put on hold by AG. I think this is the hurdle that move opinionated by @RealTreaty faces.

The results should bring the bull crushing down before ermm...