Firms founded by families and listed in the stock markets will always have issues of governance and structures, this is because An equity sale through an IPO has two distinct features. First, by definition it induces a change in the ownership structure of the firm. Second, given the presence of high initial returns, it leads to a transfer of wealth from the incumbent owners to the new shareholders. For a firm with a given investment program, an artificially low IPO price ("underpricing") leads to a proportionate reduction (increase) in incumbent (new) shareholder wealth. The high level of information asymmetry at the IPO induces insiders to sell equity both in the new issue market and in the secondary market. Through the signaling by underpricing and high ownership retention, insiders benefit from inducing information production by outside investors in order to obtain a more precise valuation of their firms in the secondary market

Sasa wewe @GG, instead of letting us chew this issue properly, your leaving us confused...

So I see ACCK closes just 0.05 shy off its 52week low. And I remember a Wazuan once confessing she had almost 300,000 as shares she received as options. Lo!

But not to worry, my belief is that the price will just adjust until P/E is akin to the sector average - target price 11.40

Guys, this is expected, it is a high time investors did due diligence before investing in any pre family owned company.

I only wish people had more info on what goes on in AK only then would they make wise decisions.

Beware of any company that supposedly posts high profits but pays minimal or no dividend at all with the pretext that the money is going to boost new investment.

For AK there was no new investment in the first place infact the supposed profits were just figures which an insider confirms were boosted by 2 or 3 months billing collections after all payments to suppliers e.t.c had been stopped to make the balance sheet look healthy.

When things got thick in 2009 June, Jonathan Somen turned on some key employees and began sacking them without any reason hoping that he would cut costs on salaries and stop the employees cashing their options which had matured.

This led to the best people who had steered AK to here it was leaving unceremoniously.

Guys there is more to it, watch this company ..it is either going to change hands or going under...

the CMA...

can not usurp the powers and duties...

of the Registrar of Companies...

but we need the Registrar..

to wake up...

and assist the shareholding....

of these pyramid scheme....