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Express . . . cash call
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StatMeister
#1 Posted : Friday, August 17, 2012 8:52:00 AM
Rank: Veteran

Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
How can a company with market cap of 125m make a 1b cash call?

Details:
* 6 for each 1 share held
* with 35m shares, means issuing 212m new shares. * That implies new shares will be offered at 4.7shs / share (current price is 3.55.

Also explains the quick retreat from 4.00 to 3.55

Rink
http://www.businessdaily.../0/-/2ldnwo/-/index.html
A bad day fishing is better than a good day at work
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VituVingiSana
#2 Posted : Friday, August 17, 2012 11:22:52 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
Connect the dots.

Who is the chairman of Express?
What other firm is he the chairman of?

Look at the history & performance of the Rights Issue of the 'other' firm...
Extrapolate to Express...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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StatMeister
#3 Posted : Friday, August 17, 2012 11:52:05 AM
Rank: Veteran

Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
VituVingiSana wrote:
Connect the dots.

Who is the chairman of Express?
What other firm is he the chairman of?

Look at the history & performance of the Rights Issue of the 'other' firm...
Extrapolate to Express...


This one will win over Olympia and Eveready heads over shoulders
A bad day fishing is better than a good day at work
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youcan'tstopusnow
#4 Posted : Friday, August 17, 2012 12:11:04 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
VituVingiSana wrote:
Connect the dots.

Who is the chairman of Express?
What other firm is he the chairman of?

Look at the history & performance of the Rights Issue of the 'other' firm...
Extrapolate to Express...


Also the Chairman of Olympia, Karen Country Club and NHOSP Board of Management
GOD BLESS YOUR LIFE
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VituVingiSana
#5 Posted : Friday, August 17, 2012 1:23:48 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
I am probably staying out!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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sparkly
#6 Posted : Friday, August 17, 2012 1:37:50 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
This is the joke of the year!!!

1B for a company that cannot compete effectively in its core business so that it can start real estate development!

Again what a joke. Only fools will invest in this thing.
Life is short. Live passionately.
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Jamani
#7 Posted : Friday, August 17, 2012 1:41:01 PM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
Again what a joke. Only fools will invest in this thing.
And those are the majority, when it comes to real estate Kenyans run, zigzag
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youcan'tstopusnow
#8 Posted : Friday, August 17, 2012 2:30:40 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Another NSE company moves into real estate...
GOD BLESS YOUR LIFE
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King G
#9 Posted : Friday, August 17, 2012 5:18:34 PM
Rank: Elder

Joined: 6/20/2012
Posts: 3,855
Location: Othumo
Jokers, they better put this house in order before the call otherwise it will be a big flob and the company headed for doom
Thieves
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VituVingiSana
#10 Posted : Friday, August 17, 2012 5:56:27 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
Yes. Chris Obura was the Chairman of Olympia Capital when it did the crazy 3:1 Rights Issue at 14/- about 5 years ago. Today the share is at sub-4. They moved Olympia from a boring but profitable firm to one that provided excitement all the way down to 3/-.

Now he wants Express to do a 6:1 Rights Issue?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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