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Uchumi - A value play?
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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obiero wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:obiero wrote:MugundaMan wrote:The funny thing is you will still see people throwing good money into the casino despite proper shavings like these  . Isatragedy. GET OUT of the casino before it is TOO LATE buddies! Another one bites the dust  Ask yourself, according to Court Records, out of the 6.6B worth of creditors Money, the only creditors owed 865M were the one enjoyned in the liquidation prayers. This tells you that most of the creditors dont want this liquidation. 13% of the creditors. They require more than 25%. Watapata 25%. Someone has to start the ball rolling. The ball has been in the legal Court for 6 months, asking people interested to be enjoyned. Only 13 per cent have shown ethuciasim. Before a board can call for CVA, you do your background first. Otherwise it will be Russian Roulette. Most Suppliers, including Multinationals like Coca-Cola have already resumed, and are thus onboard. It's a process. In KE, 6 months into a court case is just the beginning. Look at banks who sue defaulters. UCHUMI SUPPLIERS AGREE TO FORFEIT 2.5Buppliers of troubled Uchumi supermarkets have agreed to forfeit Ksh.2.5 billion debt owed to them as part of a proposed recovery plan for the retailer. The slash on debt represents 70 percent of the total Ksh.3.6 billion owed to the suppliers for goods supplied. The suppliers will be paid 30 percent of the accruing debt, 40 percent of the debt will be converted to equity through preferential shares while 30 percent will be discounted debt. “This is a positive development for the company. It will however be an ongoing stakeholder engagement at both the company and shareholder level,” said Mohammed Mohammed CEO Uchumi Supermarkets. In March this year, Uchumi gave the creditors two options; either take 30 percent of what the retailer owes them or be prepared to lose all their money. The adoption of the debt redemption strategy under Uchumi’s self initiated Company Voluntary Agreement (CVA) gives breathing room to the under fire retailer having faced a barrage of winding up petitions in 2018. No one will supply them even if they manage to reopen Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,344 Location: Nairobi
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KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:obiero wrote:MugundaMan wrote:The funny thing is you will still see people throwing good money into the casino despite proper shavings like these . Isatragedy. GET OUT of the casino before it is TOO LATE buddies! Another one bites the dust Ask yourself, according to Court Records, out of the 6.6B worth of creditors Money, the only creditors owed 865M were the one enjoyned in the liquidation prayers. This tells you that most of the creditors dont want this liquidation. 13% of the creditors. They require more than 25%. Watapata 25%. Someone has to start the ball rolling. The ball has been in the legal Court for 6 months, asking people interested to be enjoyned. Only 13 per cent have shown ethuciasim. Before a board can call for CVA, you do your background first. Otherwise it will be Russian Roulette. Most Suppliers, including Multinationals like Coca-Cola have already resumed, and are thus onboard. So is it done? Did they get the 25%? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 8/6/2018 Posts: 299
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obiero wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:obiero wrote:MugundaMan wrote:The funny thing is you will still see people throwing good money into the casino despite proper shavings like these . Isatragedy. GET OUT of the casino before it is TOO LATE buddies! Another one bites the dust Ask yourself, according to Court Records, out of the 6.6B worth of creditors Money, the only creditors owed 865M were the one enjoyned in the liquidation prayers. This tells you that most of the creditors dont want this liquidation. 13% of the creditors. They require more than 25%. Watapata 25%. Someone has to start the ball rolling. The ball has been in the legal Court for 6 months, asking people interested to be enjoyned. Only 13 per cent have shown ethuciasim. Before a board can call for CVA, you do your background first. Otherwise it will be Russian Roulette. Most Suppliers, including Multinationals like Coca-Cola have already resumed, and are thus onboard. It's a process. In KE, 6 months into a court case is just the beginning. Look at banks who sue defaulters. UCHUMI SUPPLIERS AGREE TO FORFEIT 2.5Buppliers of troubled Uchumi supermarkets have agreed to forfeit Ksh.2.5 billion debt owed to them as part of a proposed recovery plan for the retailer. The slash on debt represents 70 percent of the total Ksh.3.6 billion owed to the suppliers for goods supplied. The suppliers will be paid 30 percent of the accruing debt, 40 percent of the debt will be converted to equity through preferential shares while 30 percent will be discounted debt. “This is a positive development for the company. It will however be an ongoing stakeholder engagement at both the company and shareholder level,” said Mohammed Mohammed CEO Uchumi Supermarkets. In March this year, Uchumi gave the creditors two options; either take 30 percent of what the retailer owes them or be prepared to lose all their money. The adoption of the debt redemption strategy under Uchumi’s self initiated Company Voluntary Agreement (CVA) gives breathing room to the under fire retailer having faced a barrage of winding up petitions in 2018. No one will supply them even if they manage to reopen You really don't know what you are saying. You don't get this kind of Threshold without goodwill of suppliers. From a neutral point of view, I doubt you know what a CVA entails. Now all the court liquidation cases ceases. Plus I can tell you, New Investor will join onboard soon. Don't ask me how i know, Just like I knew that this CVA will be passed by over 80% of the creditors
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Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi
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Just looking forward to when paper loss will graduate to real loss. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 6/23/2009 Posts: 14,211 Location: nairobi
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KaunganaDoDo wrote:obiero wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:obiero wrote:MugundaMan wrote:The funny thing is you will still see people throwing good money into the casino despite proper shavings like these . Isatragedy. GET OUT of the casino before it is TOO LATE buddies! Another one bites the dust Ask yourself, according to Court Records, out of the 6.6B worth of creditors Money, the only creditors owed 865M were the one enjoyned in the liquidation prayers. This tells you that most of the creditors dont want this liquidation. 13% of the creditors. They require more than 25%. Watapata 25%. Someone has to start the ball rolling. The ball has been in the legal Court for 6 months, asking people interested to be enjoyned. Only 13 per cent have shown ethuciasim. Before a board can call for CVA, you do your background first. Otherwise it will be Russian Roulette. Most Suppliers, including Multinationals like Coca-Cola have already resumed, and are thus onboard. It's a process. In KE, 6 months into a court case is just the beginning. Look at banks who sue defaulters. UCHUMI SUPPLIERS AGREE TO FORFEIT 2.5Buppliers of troubled Uchumi supermarkets have agreed to forfeit Ksh.2.5 billion debt owed to them as part of a proposed recovery plan for the retailer. The slash on debt represents 70 percent of the total Ksh.3.6 billion owed to the suppliers for goods supplied. The suppliers will be paid 30 percent of the accruing debt, 40 percent of the debt will be converted to equity through preferential shares while 30 percent will be discounted debt. “This is a positive development for the company. It will however be an ongoing stakeholder engagement at both the company and shareholder level,” said Mohammed Mohammed CEO Uchumi Supermarkets. In March this year, Uchumi gave the creditors two options; either take 30 percent of what the retailer owes them or be prepared to lose all their money. The adoption of the debt redemption strategy under Uchumi’s self initiated Company Voluntary Agreement (CVA) gives breathing room to the under fire retailer having faced a barrage of winding up petitions in 2018. No one will supply them even if they manage to reopen You really don't know what you are saying. You don't get this kind of Threshold without goodwill of suppliers. From a neutral point of view, I doubt you know what a CVA entails. Now all the court liquidation cases ceases. Plus I can tell you, New Investor will join onboard soon. Don't ask me how i know, Just like I knew that this CVA will be passed by over 80% of the creditors It's good that you are an Uchumi expert. Let's see how it goes.. But here's my take 1. Uchumi is not a vital business to GoK 2. Competitors to Uchumi are already offering superior service 3. The customers moved elsewhere, so restocking will not guarantee trade 4. Today the share rose from KES 0.29 to KES 0.31 reflecting investor sentiment
KQ ABP 4.26
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Rank: Member Joined: 8/6/2018 Posts: 299
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obiero wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:obiero wrote:MugundaMan wrote:The funny thing is you will still see people throwing good money into the casino despite proper shavings like these . Isatragedy. GET OUT of the casino before it is TOO LATE buddies! Another one bites the dust Ask yourself, according to Court Records, out of the 6.6B worth of creditors Money, the only creditors owed 865M were the one enjoyned in the liquidation prayers. This tells you that most of the creditors dont want this liquidation. 13% of the creditors. They require more than 25%. Watapata 25%. Someone has to start the ball rolling. The ball has been in the legal Court for 6 months, asking people interested to be enjoyned. Only 13 per cent have shown ethuciasim. Before a board can call for CVA, you do your background first. Otherwise it will be Russian Roulette. Most Suppliers, including Multinationals like Coca-Cola have already resumed, and are thus onboard. It's a process. In KE, 6 months into a court case is just the beginning. Look at banks who sue defaulters. UCHUMI SUPPLIERS AGREE TO FORFEIT 2.5Buppliers of troubled Uchumi supermarkets have agreed to forfeit Ksh.2.5 billion debt owed to them as part of a proposed recovery plan for the retailer. The slash on debt represents 70 percent of the total Ksh.3.6 billion owed to the suppliers for goods supplied. The suppliers will be paid 30 percent of the accruing debt, 40 percent of the debt will be converted to equity through preferential shares while 30 percent will be discounted debt. “This is a positive development for the company. It will however be an ongoing stakeholder engagement at both the company and shareholder level,” said Mohammed Mohammed CEO Uchumi Supermarkets. In March this year, Uchumi gave the creditors two options; either take 30 percent of what the retailer owes them or be prepared to lose all their money. The adoption of the debt redemption strategy under Uchumi’s self initiated Company Voluntary Agreement (CVA) gives breathing room to the under fire retailer having faced a barrage of winding up petitions in 2018. No one will supply them even if they manage to reopen “Liquidation is not the best option. Suppliers can now expect some down payment on existing debt. We will now work together to see a resumption of business,” said Kimani Rugendo, Chairman, Uchumi Suppliers. The new debt redemption will is now be pegged on the liquidation of Uchumi assets including the sale of two parcels of land in Roysambu and Lang’ata Road. The decision by the suppliers grants Uchumi a continued supply of goods even as the existing board seeks a complete turnaround for the cash strapped firm. “Today was a vote of hope for the future. A vote for this brand is a vote for Kenyan manufacturers,” added Uchumi Supermarkets Chairman John Karani.
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Rank: Elder Joined: 6/23/2009 Posts: 14,211 Location: nairobi
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KaunganaDoDo wrote:obiero wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:obiero wrote:MugundaMan wrote:The funny thing is you will still see people throwing good money into the casino despite proper shavings like these . Isatragedy. GET OUT of the casino before it is TOO LATE buddies! Another one bites the dust Ask yourself, according to Court Records, out of the 6.6B worth of creditors Money, the only creditors owed 865M were the one enjoyned in the liquidation prayers. This tells you that most of the creditors dont want this liquidation. 13% of the creditors. They require more than 25%. Watapata 25%. Someone has to start the ball rolling. The ball has been in the legal Court for 6 months, asking people interested to be enjoyned. Only 13 per cent have shown ethuciasim. Before a board can call for CVA, you do your background first. Otherwise it will be Russian Roulette. Most Suppliers, including Multinationals like Coca-Cola have already resumed, and are thus onboard. It's a process. In KE, 6 months into a court case is just the beginning. Look at banks who sue defaulters. UCHUMI SUPPLIERS AGREE TO FORFEIT 2.5Buppliers of troubled Uchumi supermarkets have agreed to forfeit Ksh.2.5 billion debt owed to them as part of a proposed recovery plan for the retailer. The slash on debt represents 70 percent of the total Ksh.3.6 billion owed to the suppliers for goods supplied. The suppliers will be paid 30 percent of the accruing debt, 40 percent of the debt will be converted to equity through preferential shares while 30 percent will be discounted debt. “This is a positive development for the company. It will however be an ongoing stakeholder engagement at both the company and shareholder level,” said Mohammed Mohammed CEO Uchumi Supermarkets. In March this year, Uchumi gave the creditors two options; either take 30 percent of what the retailer owes them or be prepared to lose all their money. The adoption of the debt redemption strategy under Uchumi’s self initiated Company Voluntary Agreement (CVA) gives breathing room to the under fire retailer having faced a barrage of winding up petitions in 2018. No one will supply them even if they manage to reopen “Liquidation is not the best option. Suppliers can now expect some down payment on existing debt. We will now work together to see a resumption of business,” said Kimani Rugendo, Chairman, Uchumi Suppliers. The new debt redemption will is now be pegged on the liquidation of Uchumi assets including the sale of two parcels of land in Roysambu and Lang’ata Road. The decision by the suppliers grants Uchumi a continued supply of goods even as the existing board seeks a complete turnaround for the cash strapped firm. “Today was a vote of hope for the future. A vote for this brand is a vote for Kenyan manufacturers,” added Uchumi Supermarkets Chairman John Karani. Kimani Rugendo is too deep into this thing to say anything else.. Meanwhile, simba has liquidated KES 9000,000,000 worth of Uchumi property to settle long outstanding debt. The thing is now insolvent as assets are being stripped! Remember KDF in Kasarani, simba land sale, Uchumi Langata Hyper..
KQ ABP 4.26
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Rank: Member Joined: 8/6/2018 Posts: 299
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obiero wrote:KaunganaDoDo wrote:obiero wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:obiero wrote:MugundaMan wrote:The funny thing is you will still see people throwing good money into the casino despite proper shavings like these . Isatragedy. GET OUT of the casino before it is TOO LATE buddies! Another one bites the dust Ask yourself, according to Court Records, out of the 6.6B worth of creditors Money, the only creditors owed 865M were the one enjoyned in the liquidation prayers. This tells you that most of the creditors dont want this liquidation. 13% of the creditors. They require more than 25%. Watapata 25%. Someone has to start the ball rolling. The ball has been in the legal Court for 6 months, asking people interested to be enjoyned. Only 13 per cent have shown ethuciasim. Before a board can call for CVA, you do your background first. Otherwise it will be Russian Roulette. Most Suppliers, including Multinationals like Coca-Cola have already resumed, and are thus onboard. It's a process. In KE, 6 months into a court case is just the beginning. Look at banks who sue defaulters. UCHUMI SUPPLIERS AGREE TO FORFEIT 2.5Buppliers of troubled Uchumi supermarkets have agreed to forfeit Ksh.2.5 billion debt owed to them as part of a proposed recovery plan for the retailer. The slash on debt represents 70 percent of the total Ksh.3.6 billion owed to the suppliers for goods supplied. The suppliers will be paid 30 percent of the accruing debt, 40 percent of the debt will be converted to equity through preferential shares while 30 percent will be discounted debt. “This is a positive development for the company. It will however be an ongoing stakeholder engagement at both the company and shareholder level,” said Mohammed Mohammed CEO Uchumi Supermarkets. In March this year, Uchumi gave the creditors two options; either take 30 percent of what the retailer owes them or be prepared to lose all their money. The adoption of the debt redemption strategy under Uchumi’s self initiated Company Voluntary Agreement (CVA) gives breathing room to the under fire retailer having faced a barrage of winding up petitions in 2018. No one will supply them even if they manage to reopen “Liquidation is not the best option. Suppliers can now expect some down payment on existing debt. We will now work together to see a resumption of business,” said Kimani Rugendo, Chairman, Uchumi Suppliers. The new debt redemption will is now be pegged on the liquidation of Uchumi assets including the sale of two parcels of land in Roysambu and Lang’ata Road. The decision by the suppliers grants Uchumi a continued supply of goods even as the existing board seeks a complete turnaround for the cash strapped firm. “Today was a vote of hope for the future. A vote for this brand is a vote for Kenyan manufacturers,” added Uchumi Supermarkets Chairman John Karani. Kimani Rugendo is too deep into this thing to say anything else.. Meanwhile, simba has liquidated KES 9000,000,000 worth of Uchumi property to settle long outstanding debt. The thing is now insolvent as assets are being stripped! Remember KDF in Kasarani, simba land sale, Uchumi Langata Hyper.. You really survive on hearsay, which is a very dangerous thing for someone calling himself an analyst. The 900M KCB is not liquidated assets, its part of the planned payout from the settlement agreement yesterday the CVA, it will come from proceedings from the sale of land, and it has not been done yet, KCB has agreed to write off over 450M shillings, in accrued interests and penalties.
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Rank: Elder Joined: 6/23/2009 Posts: 14,211 Location: nairobi
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KaunganaDoDo wrote:obiero wrote:KaunganaDoDo wrote:obiero wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:obiero wrote:MugundaMan wrote:The funny thing is you will still see people throwing good money into the casino despite proper shavings like these . Isatragedy. GET OUT of the casino before it is TOO LATE buddies! Another one bites the dust Ask yourself, according to Court Records, out of the 6.6B worth of creditors Money, the only creditors owed 865M were the one enjoyned in the liquidation prayers. This tells you that most of the creditors dont want this liquidation. 13% of the creditors. They require more than 25%. Watapata 25%. Someone has to start the ball rolling. The ball has been in the legal Court for 6 months, asking people interested to be enjoyned. Only 13 per cent have shown ethuciasim. Before a board can call for CVA, you do your background first. Otherwise it will be Russian Roulette. Most Suppliers, including Multinationals like Coca-Cola have already resumed, and are thus onboard. It's a process. In KE, 6 months into a court case is just the beginning. Look at banks who sue defaulters. UCHUMI SUPPLIERS AGREE TO FORFEIT 2.5Buppliers of troubled Uchumi supermarkets have agreed to forfeit Ksh.2.5 billion debt owed to them as part of a proposed recovery plan for the retailer. The slash on debt represents 70 percent of the total Ksh.3.6 billion owed to the suppliers for goods supplied. The suppliers will be paid 30 percent of the accruing debt, 40 percent of the debt will be converted to equity through preferential shares while 30 percent will be discounted debt. “This is a positive development for the company. It will however be an ongoing stakeholder engagement at both the company and shareholder level,” said Mohammed Mohammed CEO Uchumi Supermarkets. In March this year, Uchumi gave the creditors two options; either take 30 percent of what the retailer owes them or be prepared to lose all their money. The adoption of the debt redemption strategy under Uchumi’s self initiated Company Voluntary Agreement (CVA) gives breathing room to the under fire retailer having faced a barrage of winding up petitions in 2018. No one will supply them even if they manage to reopen “Liquidation is not the best option. Suppliers can now expect some down payment on existing debt. We will now work together to see a resumption of business,” said Kimani Rugendo, Chairman, Uchumi Suppliers. The new debt redemption will is now be pegged on the liquidation of Uchumi assets including the sale of two parcels of land in Roysambu and Lang’ata Road. The decision by the suppliers grants Uchumi a continued supply of goods even as the existing board seeks a complete turnaround for the cash strapped firm. “Today was a vote of hope for the future. A vote for this brand is a vote for Kenyan manufacturers,” added Uchumi Supermarkets Chairman John Karani. Kimani Rugendo is too deep into this thing to say anything else.. Meanwhile, simba has liquidated KES 9000,000,000 worth of Uchumi property to settle long outstanding debt. The thing is now insolvent as assets are being stripped! Remember KDF in Kasarani, simba land sale, Uchumi Langata Hyper.. You really survive on hearsay, which is a very dangerous thing for someone calling himself an analyst. The 900M KCB is not liquidated assets, its part of the planned payout from the settlement agreement yesterday the CVA, it will come from proceedings from the sale of land, and it has not been done yet, KCB has agreed to write off over 450M shillings, in accrued interests and penalties. So is simba a supplier or a creditor or a preference shareholder or all the above
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,344 Location: Nairobi
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obiero wrote:KaunganaDoDo wrote:obiero wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:VituVingiSana wrote:KaunganaDoDo wrote:obiero wrote:MugundaMan wrote:The funny thing is you will still see people throwing good money into the casino despite proper shavings like these . Isatragedy. GET OUT of the casino before it is TOO LATE buddies! Another one bites the dust Ask yourself, according to Court Records, out of the 6.6B worth of creditors Money, the only creditors owed 865M were the one enjoyned in the liquidation prayers. This tells you that most of the creditors dont want this liquidation. 13% of the creditors. They require more than 25%. Watapata 25%. Someone has to start the ball rolling. The ball has been in the legal Court for 6 months, asking people interested to be enjoyned. Only 13 per cent have shown ethuciasim. Before a board can call for CVA, you do your background first. Otherwise it will be Russian Roulette. Most Suppliers, including Multinationals like Coca-Cola have already resumed, and are thus onboard. It's a process. In KE, 6 months into a court case is just the beginning. Look at banks who sue defaulters. UCHUMI SUPPLIERS AGREE TO FORFEIT 2.5Buppliers of troubled Uchumi supermarkets have agreed to forfeit Ksh.2.5 billion debt owed to them as part of a proposed recovery plan for the retailer. The slash on debt represents 70 percent of the total Ksh.3.6 billion owed to the suppliers for goods supplied. The suppliers will be paid 30 percent of the accruing debt, 40 percent of the debt will be converted to equity through preferential shares while 30 percent will be discounted debt. “This is a positive development for the company. It will however be an ongoing stakeholder engagement at both the company and shareholder level,” said Mohammed Mohammed CEO Uchumi Supermarkets. In March this year, Uchumi gave the creditors two options; either take 30 percent of what the retailer owes them or be prepared to lose all their money. The adoption of the debt redemption strategy under Uchumi’s self initiated Company Voluntary Agreement (CVA) gives breathing room to the under fire retailer having faced a barrage of winding up petitions in 2018. No one will supply them even if they manage to reopen “Liquidation is not the best option. Suppliers can now expect some down payment on existing debt. We will now work together to see a resumption of business,” said Kimani Rugendo, Chairman, Uchumi Suppliers. The new debt redemption will is now be pegged on the liquidation of Uchumi assets including the sale of two parcels of land in Roysambu and Lang’ata Road. The decision by the suppliers grants Uchumi a continued supply of goods even as the existing board seeks a complete turnaround for the cash strapped firm. “Today was a vote of hope for the future. A vote for this brand is a vote for Kenyan manufacturers,” added Uchumi Supermarkets Chairman John Karani. Kimani Rugendo is too deep into this thing to say anything else.. Meanwhile, simba has liquidated KES 9000,000,000 worth of Uchumi property to settle long outstanding debt. The thing is now insolvent as assets are being stripped! Remember KDF in Kasarani, simba land sale, Uchumi Langata Hyper.. Isn't Kimani also a shareholder in KQ? And a major supplier to KQ as well? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Uchumi - A value play?
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