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Centum 2019/2020
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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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. Kirubi doesn't pump and dump. He has steadily increased his stake in Centum. Notifying the authorities of his intention to buy more is a legal requirement. Life is short. Live passionately.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Receptor wrote: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 Kirubi doesn't pump and dump. He has steadily increased his stake in Centum. Notifying the authorities of his intention to buy more is a legal requirement. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Receptor wrote: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 Please explain what you mean by "suspicious pump and dump strategy." Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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nairobby wrote:VituVingiSana wrote:nairobby wrote:VituVingiSana wrote:[quote=watesh]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...es-buy-back-regulation/[/quote] Thank you but perhaps you did not manage to read what I asked. Let me repost my question. " Which law - please help me out by providing the sections (not hearsay/articles) - prohibits share buybacks?" Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 1/18/2019 Posts: 185 Location: kenya
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VituVingiSana wrote:nairobby wrote:VituVingiSana wrote:nairobby wrote:VituVingiSana wrote:[quote=watesh]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...es-buy-back-regulation/[/quote] Thank you but perhaps you did not manage to read what I asked. Let me repost my question. " Which law - please help me out by providing the sections (not hearsay/articles) - prohibits share buybacks?" The law is mentioned in the article, read my friend
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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nairobby wrote:VituVingiSana wrote:nairobby wrote: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...es-buy-back-regulation/ Thank you but perhaps you did not manage to read what I asked. Let me repost my question. " Which law - please help me out by providing the sections (not hearsay/articles) - prohibits share buybacks?" The law is mentioned in the article, read my friend Dear Friend, I read the article but the law that PROHIBITS buybacks is not mentioned. Please read it again and quote the sections of the law. Thanks. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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VituVingiSana wrote:nairobby wrote:VituVingiSana wrote:nairobby wrote: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...es-buy-back-regulation/ Thank you but perhaps you did not manage to read what I asked. Let me repost my question. " Which law - please help me out by providing the sections (not hearsay/articles) - prohibits share buybacks?" The law is mentioned in the article, read my friend Dear Friend, I read the article but the law that PROHIBITS buybacks is not mentioned. Please read it again and quote the sections of the law. Thanks. Current laws don't ban share buybacks. However, they don't support them either. Companies can't buyback their shares from the open market without the Company's Act dictating the terms and limits.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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rwitre wrote:VituVingiSana wrote:nairobby wrote:VituVingiSana wrote:nairobby wrote: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...es-buy-back-regulation/ Thank you but perhaps you did not manage to read what I asked. Let me repost my question. " Which law - please help me out by providing the sections (not hearsay/articles) - prohibits share buybacks?" The law is mentioned in the article, read my friend Dear Friend, I read the article but the law that PROHIBITS buybacks is not mentioned. Please read it again and quote the sections of the law. Thanks. Current laws don't ban share buybacks. However, they don't support them either. Companies can't buyback their shares from the open market without the Company's Act dictating the terms and limits. Eish did we have to get to this explanation for conclusion. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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rwitre wrote:VituVingiSana wrote:nairobby wrote:VituVingiSana wrote:nairobby wrote: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...es-buy-back-regulation/ Thank you but perhaps you did not manage to read what I asked. Let me repost my question. " Which law - please help me out by providing the sections (not hearsay/articles) - prohibits share buybacks?" The law is mentioned in the article, read my friend Dear Friend, I read the article but the law that PROHIBITS buybacks is not mentioned. Please read it again and quote the sections of the law. Thanks. Current laws don't ban share buybacks. However, they don't support them either. Companies can't buyback their shares from the open market without the Company's Act dictating the terms and limits. As long as the firms follow the law, they are allowed to do enter into buybacks. Crown tried it but the T&Cs seemed onerous though now it may be a better time given the lower prices. It's just that some in the CMA felt otherwise, and not the law, about share buybacks. It is a very important distinction. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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After acquiring the 49.99% stake,Kirubi will then sell his stake to the highest bidder. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:After acquiring the 49.99% stake,Kirubi will then sell his stake to the highest bidder. Hapo, umesema ukweli but I hope he takes us along with him!  I would not bet on it though. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 8/10/2014 Posts: 969 Location: Kenya
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Ericsson wrote:After acquiring the 49.99% stake,Kirubi will then sell his stake to the highest bidder. Or just wait for the buy back program. He is in the board so he can influence a huge chunk of cashflow to go to the buy back program at the highest price possible. Easy money for him.
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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watesh wrote:Ericsson wrote:After acquiring the 49.99% stake,Kirubi will then sell his stake to the highest bidder. Or just wait for the buy back program. He is in the board so he can influence a huge chunk of cashflow to go to the buy back program at the highest price possible. Easy money for him. We can also join in though it does require cash.  I would have preferred a share buyback which would increase the NAV/share for existing shareholders but the CMA doesn't like these. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote:watesh wrote:Ericsson wrote:After acquiring the 49.99% stake,Kirubi will then sell his stake to the highest bidder. Or just wait for the buy back program. He is in the board so he can influence a huge chunk of cashflow to go to the buy back program at the highest price possible. Easy money for him. We can also join in though it does require cash. I would have preferred a share buyback which would increase the NAV/share for existing shareholders but the CMA doesn't like these. Sell your holdings at the earliest opportunity Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:watesh wrote:Ericsson wrote:After acquiring the 49.99% stake,Kirubi will then sell his stake to the highest bidder. Or just wait for the buy back program. He is in the board so he can influence a huge chunk of cashflow to go to the buy back program at the highest price possible. Easy money for him. We can also join in though it does require cash. I would have preferred a share buyback which would increase the NAV/share for existing shareholders but the CMA doesn't like these. Sell your holdings at the earliest opportunity Why? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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watesh wrote:Ericsson wrote:After acquiring the 49.99% stake,Kirubi will then sell his stake to the highest bidder. Or just wait for the buy back program. He is in the board so he can influence a huge chunk of cashflow to go to the buy back program at the highest price possible. Easy money for him. Let's wait and see Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Ericsson wrote:watesh wrote:Ericsson wrote:After acquiring the 49.99% stake,Kirubi will then sell his stake to the highest bidder. Or just wait for the buy back program. He is in the board so he can influence a huge chunk of cashflow to go to the buy back program at the highest price possible. Easy money for him. Let's wait and see You can't play against the market only against other players. Let him try sinking billions and they'll be washed away as this thing heads to 10/=
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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whiteowl wrote:Ericsson wrote:watesh wrote:Ericsson wrote:After acquiring the 49.99% stake,Kirubi will then sell his stake to the highest bidder. Or just wait for the buy back program. He is in the board so he can influence a huge chunk of cashflow to go to the buy back program at the highest price possible. Easy money for him. Let's wait and see You can't play against the market only against other players. Let him try sinking billions and they'll be washed away as this thing heads to 10/= Centum is oversold. On NAV, EPS, DPS, track record over the years, future projection- its numbers are calling for value investors to board. Management is solid. Diversified portfolio with easy-to-understand businesses. CEO even has skin in the game Largest individual shareholder is stocking up more Top reasons for selling: 1. Shareholders looking for liquidity. 2. Panic over falling prices across the market. The company is fundamentally sound. Can we time the bottom? No. Is the share insanely cheap at the moment? Yes. Will you buy? Keep in mind: Markets can remain irrational longer than you can remain solvent
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Rank: New-farer Joined: 2/8/2018 Posts: 73
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News was designed to try and stabilize price.There are many far better companies to put your money in. Solid management ??? Sidian, Akira, Amu power & RVR investments?
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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RIEK01 wrote:News was designed to try and stabilize price.There are many far better companies to put your money in. Solid management ??? Sidian, Akira, Amu power & RVR investments? Centum is no longer in RVR. Life is short. Live passionately.
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