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Centum 2019/2020
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Ericsson
#71 Posted : Monday, March 23, 2020 4:48:09 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
https://kenyanwallstreet...ire-50-stake-in-centum/
Kenya’s capital market regulator has given a go-ahead to allow businessman Christopher Kirubi to acquire up to 49.99 percent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders.

A statement from the listed firm notes that the exemption will see Dr Kirubi progressively raise his shareholding in Centum from the current 30 per cent threshold in open market transactions.

According to the billionaire businessman, the intended additional acquisition indicates his “strong vote of confidence in the future prospects and long-term strategic direction of the company,” adding that his target is to acquire the additional shares subject to their availability in the open market.

The exemption to acquire additional shares without triggering a mandatory takeover offer is in line with the CMA’s policy initiative of encouraging unrestricted demand for shares in publicly listed companies, which helps in price discovery of listed stocks.

Dr Kirubi currently sits on the board of Centum as a director and has been a key shareholder of the company for more than 20 years.

The CMA also aims to enable shareholders to continue to publicly support companies that they are already invested in, while facilitating increased market liquidity.

Centum says the exemption has been granted on the condition that all trading in Centum shares shall continue to be in compliance with all regulatory requirements relating to insider trading.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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watesh
#72 Posted : Monday, March 23, 2020 4:50:47 PM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
The old man is ruining the party!! Now that stock wont drop since he will be swallowing everything everyone dumps.....Centum has 11bn in cash to make some really really good buys.
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VituVingiSana
#73 Posted : Monday, March 23, 2020 7:33:00 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
watesh wrote:
The old man is ruining the party!! Now that stock wont drop since he will be swallowing everything everyone dumps.....Centum has 11bn in cash to make some really really good buys.
CK is using his cash but it would have been better for existing shareholders if it was a share buyback.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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nairobby
#74 Posted : Tuesday, March 24, 2020 8:57:06 AM
Rank: Member

Joined: 1/18/2019
Posts: 185
Location: kenya
VituVingiSana wrote:
watesh wrote:
The old man is ruining the party!! Now that stock wont drop since he will be swallowing everything everyone dumps.....Centum has 11bn in cash to make some really really good buys.
CK is using his cash but it would have been better for existing shareholders if it was a share buyback.


While it's not a buyback. I'm looking at Kirubi's play from the same lens. Remember buybacks aren't permitted over here by law. I think it's time to start accumulating this stock
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Receptor
#75 Posted : Tuesday, March 24, 2020 9:09:49 AM
Rank: Member

Joined: 7/1/2019
Posts: 119
Ericsson wrote:
https://kenyanwallstreet.com/regulator-approves-chris-kirubi-to-acquire-50-stake-in-centum/
Kenya’s capital market regulator has given a go-ahead to allow businessman Christopher Kirubi to acquire up to 49.99 percent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders.

A statement from the listed firm notes that the exemption will see Dr Kirubi progressively raise his shareholding in Centum from the current 30 per cent threshold in open market transactions.

According to the billionaire businessman, the intended additional acquisition indicates his “strong vote of confidence in the future prospects and long-term strategic direction of the company,” adding that his target is to acquire the additional shares subject to their availability in the open market.

The exemption to acquire additional shares without triggering a mandatory takeover offer is in line with the CMA’s policy initiative of encouraging unrestricted demand for shares in publicly listed companies, which helps in price discovery of listed stocks.

Dr Kirubi currently sits on the board of Centum as a director and has been a key shareholder of the company for more than 20 years.

The CMA also aims to enable shareholders to continue to publicly support companies that they are already invested in, while facilitating increased market liquidity.


Centum says the exemption has been granted on the condition that all trading in Centum shares shall continue to be in compliance with all regulatory requirements relating to insider trading.


This is how markets are rigged. The big shareholder tries to control the price of a share in the midst of a global crisis. Suspicious pump and dump strategy by Kirubi.
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VituVingiSana
#76 Posted : Tuesday, March 24, 2020 9:12:48 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
nairobby wrote:
VituVingiSana wrote:
watesh wrote:
The old man is ruining the party!! Now that stock wont drop since he will be swallowing everything everyone dumps.....Centum has 11bn in cash to make some really really good buys.
CK is using his cash but it would have been better for existing shareholders if it was a share buyback.

While it's not a buyback. I'm looking at Kirubi's play from the same lens. Remember buybacks aren't permitted over here by law. I think it's time to start accumulating this stock
I am trying to wrap my head around this. Which law - please help me out by providing the sections (not hearsay/articles) - prohibits share buybacks? Thanks.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#77 Posted : Tuesday, March 24, 2020 9:14:24 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Receptor wrote:
Ericsson wrote:
https://kenyanwallstreet.com/regulator-approves-chris-kirubi-to-acquire-50-stake-in-centum/
Kenya’s capital market regulator has given a go-ahead to allow businessman Christopher Kirubi to acquire up to 49.99 percent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders.

A statement from the listed firm notes that the exemption will see Dr Kirubi progressively raise his shareholding in Centum from the current 30 per cent threshold in open market transactions.

According to the billionaire businessman, the intended additional acquisition indicates his “strong vote of confidence in the future prospects and long-term strategic direction of the company,” adding that his target is to acquire the additional shares subject to their availability in the open market.

The exemption to acquire additional shares without triggering a mandatory takeover offer is in line with the CMA’s policy initiative of encouraging unrestricted demand for shares in publicly listed companies, which helps in price discovery of listed stocks.

Dr Kirubi currently sits on the board of Centum as a director and has been a key shareholder of the company for more than 20 years.

The CMA also aims to enable shareholders to continue to publicly support companies that they are already invested in, while facilitating increased market liquidity.


Centum says the exemption has been granted on the condition that all trading in Centum shares shall continue to be in compliance with all regulatory requirements relating to insider trading.

This is how markets are rigged. The big shareholder tries to control the price of a share in the midst of a global crisis. Suspicious pump and dump strategy by Kirubi.
I am trying to wrap my head around this. Please clarify the pump and dump strategy he is using? Thanks.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Receptor
#78 Posted : Tuesday, March 24, 2020 9:18:59 AM
Rank: Member

Joined: 7/1/2019
Posts: 119
VituVingiSana wrote:
Receptor wrote:
Ericsson wrote:
https://kenyanwallstreet.com/regulator-approves-chris-kirubi-to-acquire-50-stake-in-centum/
Kenya’s capital market regulator has given a go-ahead to allow businessman Christopher Kirubi to acquire up to 49.99 percent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders.

A statement from the listed firm notes that the exemption will see Dr Kirubi progressively raise his shareholding in Centum from the current 30 per cent threshold in open market transactions.

According to the billionaire businessman, the intended additional acquisition indicates his “strong vote of confidence in the future prospects and long-term strategic direction of the company,” adding that his target is to acquire the additional shares subject to their availability in the open market.

The exemption to acquire additional shares without triggering a mandatory takeover offer is in line with the CMA’s policy initiative of encouraging unrestricted demand for shares in publicly listed companies, which helps in price discovery of listed stocks.

Dr Kirubi currently sits on the board of Centum as a director and has been a key shareholder of the company for more than 20 years.

The CMA also aims to enable shareholders to continue to publicly support companies that they are already invested in, while facilitating increased market liquidity.


Centum says the exemption has been granted on the condition that all trading in Centum shares shall continue to be in compliance with all regulatory requirements relating to insider trading.

This is how markets are rigged. The big shareholder tries to control the price of a share in the midst of a global crisis. Suspicious pump and dump strategy by Kirubi.
I am trying to wrap my head around this. Please clarify the pump and dump strategy he is using? Thanks.


The keyword is suspicious. Nothing to clarify
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nairobby
#79 Posted : Tuesday, March 24, 2020 9:46:39 AM
Rank: Member

Joined: 1/18/2019
Posts: 185
Location: kenya
VituVingiSana wrote:
nairobby wrote:
VituVingiSana wrote:
watesh wrote:
The old man is ruining the party!! Now that stock wont drop since he will be swallowing everything everyone dumps.....Centum has 11bn in cash to make some really really good buys.
CK is using his cash but it would have been better for existing shareholders if it was a share buyback.

While it's not a buyback. I'm looking at Kirubi's play from the same lens. Remember buybacks aren't permitted over here by law. I think it's time to start accumulating this stock
I am trying to wrap my head around this. Which law - please help me out by providing the sections (not hearsay/articles) - prohibits share buybacks? Thanks.


https://kenyanwallstreet...res-buy-back-regulation/
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watesh
#80 Posted : Tuesday, March 24, 2020 10:02:50 AM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
Stock price currently jacked up after that Kirubi announcement, now at 22.25. Yesterday I was buying at 19.6 and supply has dried up, demand has shot up! That announcement alone crippled the price hemorrhage today but I wonder for how long will it hold it up
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