Thanks for asking a basic question that no-one has been able to answer. With the new KES5Bn injection approved on Friday, 28th Feb and a weekend of silence, so no chance to trade, Shareholders will be wiped out on Monday. Especially if it convertible debt with a strike price.
KQ is now a govt. parastatal.

@the Deal, these "experts'" mandate is to do their employer's bidding. If they are hired by the Government, their job is to do whatever it takes to facilitate:
1. The goal of implementing State Control
2. The goal of keeping planes in the air
Neither of this has ANYTHING to do with Shareholders.
- Debt holders can attach planes, cut off fuel supplies, etc
- Employees can strike
- One class of employees, Pilots, can cripple an airline instantly via wildcat strikes.
- Shareholders can complain on message boards and run to court. (They can't ask the courts to stop flights, or fire management without further destroying the company)
Shareholders are now irrelevant from a stakeholder perspective.
Not critiquing anyone who holds the shares (and I don't). Just placing things in sharp relief.

80,000 shareholders may not be as irrelevant as imagined

If the banks are getting bought out at 8.25 there's a chance @obiero and his mates will also be bought out at the same price since all shares rank pari passu.

Wouldn't it be complicated to buy out different shareholders with the same class of shares at different price points?

This is a gamble of a lifetime however, we'll be here to monitor some people's blood pressure