I was Caressing this mama over the weekend and i realized that Her 2007 EPS for the 8Months ending 31-12-2007 was Computed on GROSS PROFIT and not on NET PROFIT !
The TAX for that Period was 101 million so there was an overstatement of EPS by shs 1.46
However their Half year ending 30-06-2008 was as Projected at 190m.
2008 Annualized profit = 190m*2=380m
2008 annualized EPS=380m/69m shares=shs 5.50
Market Price (Fair P.E OF 25 )= 25*5.50 =137shs.
Go Baibey go Beibey..!
BREAKING NEWS2008 -BONUSSS!!! ( 1:2 )
This Suppu has RETAINED earnings as at 30-06-2008 of 500m
If all goes as planned,she will make another 190m for the other half ending 31-12-08
All this profit will be put to the retained earnings ( 500m+190m =690m)
The par Value of the stock being 5/=bob,a bonus of ( 690m/5.00bob ) =138m bonus shares.
Allotment of bonus shares (138m bonus shares/69m existing shares )= 2
For Every ONE held,you will Get 2 Shares and the Capitalization of the Bank will meet the CBK Threshhold of Minimum Capitalization of 1 Bilion shs.
138m+69m = 207m shares
207m shares*5.00bob=1.035 billion..!..
then we come to NSE 3times Richer and by end of 2009,the share will be worth 100bob onwards with the bonuses factored in already ;meaning that the initial share bought @ 60 bob will now be worth 300bob!!
Isnt that Convincing!
THE 'UNDECIDED' shareHolders A.K.A the still UNDECIDED AMERICAN VOTERS,Sijui ni Obama sijui ni Maccain..will now go asking,'how can i buy Family Bank Shares'??Click below for a Quick Answer..hata CO-OP irikuwa Hivyo Hivyooooo!!
http://www.familybank.co.ke/financials/index.php?