@cnn, I dont think Q1 will matter much as far as the grand march to 13 is concerned. Hell they could even announce a loss, 13 is still in the horizon.

@the deal, both shareholders and management benefit if it is CP. Shareholders usually have no say how their capital is used. Management can technically do whatever they want with shareholder funds and account to no one. With CP, the lenders will have a more than casual interest on how their funds are spent so they sort of act like agents (Agency Theory) to police the management.
Management can also raise cash much quicker - look at the lead times for a CP and a rights issue.
Management also don't like shareholders - sad but true and the less outstanding shares there are, the better for them.
For shareholders, the better money given to the company is used, the more value is added to the firm.

Cheaper cash! CPs are short-term (Bonds are more expensive to launch, etc)...

Rights is also expensive...

@Horton - The CP is for Working Capital 30-90 days... so the rates they get are low coz they follow the T-Bills...

They dont have much LT debt... lok at the Annual Report... Only 75-100mn

The ST is 4bn+ but coz of WC needs...

I am not able to attend the AGM... Is someone there?

AGM 20 May at 10.30am at Hilton...
Books close kesho lakini sometimes NSE trades shares ex-div 1 day earlier (not sure in this case)...

Perhaps the split takes effect tomorrow as well... If so then I am OK coz the price will rise!!!

Split date 1st June. Appeal will be decided on on 8th July. Appeal success will take the parties back to the arbitrator. Shell/BP prefer to sell as one package its interests in 21 African countries. KK has already reached its 25% threshold in Kenya so they are not interested.

Asante for the updates! Bummer... I wanted to sell my split shares & buy into KQ... Not sure what to do...

As for 1H 2010... things are looking mzuri sana!!! As for the Appeal... I think there is a long way to go considering the speed the Court of Appeal works then back to Arbitrator...

An interesting tit bit by Segman yesterday. He said that since Terry Davidson who is a director had a case on the Uchumi insider trading, the CMA couldn't give approval on the CP. So Terry had to resign from the board for the CP to get approval. But he was thereafter appointed as an 'advisor' to the board...........