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Tale of Transcentury CEO exit, Sh8b Debt

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sparkly		#151 Posted : Tuesday, March 22, 2016 8:08:33 PM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		VituVingiSana wrote: hisah wrote: Closed @5.35, 9.32% down for the day. Without PPT this thing will continue breaking down for a long time. IMHO, it trades at 5.35 more than its true value. Waah low blow ... Life is short. Live passionately.
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alotoftalk		#152 Posted : Thursday, March 24, 2016 5:11:51 AM
Rank: Member Joined: 8/27/2015 Posts: 138 Location: Harare		Why is TCL operating as if it is not a publicly listed company and moreso why is CMA letting them do it? They have have reached an agreement which is material information. The 'company announcement' that they have reached the agreement without divulging key details is bull. This is akin to a company telling the shareholders they have audited results and the profit is KES XX without publishing the actual financials. Key words: Partnership between Kuramo and TCL. Details? Kuramo and other investors. Are they now shareholders or do they have preference shares or was there a partial conversion to equity?? http://www.transcentury....nSettlementoftheBond.pdf Investment philosophy development in progress...
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mthaka		#153 Posted : Thursday, March 24, 2016 7:40:12 AM
Rank: Member Joined: 9/30/2013 Posts: 254		“We are delighted to partner with one of Africa’s most prominent investment companies.”
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snipermnoma		#154 Posted : Thursday, March 24, 2016 9:06:02 AM
Rank: Member Joined: 1/3/2014 Posts: 257		alotoftalk wrote: Why is TCL operating as if it is not a publicly listed company and moreso why is CMA letting them do it? They have have reached an agreement which is material information. The 'company announcement' that they have reached the agreement without divulging key details is bull. This is akin to a company telling the shareholders they have audited results and the profit is KES XX without publishing the actual financials. Key words: Partnership between Kuramo and TCL. Details? Kuramo and other investors. Are they now shareholders or do they have preference shares or was there a partial conversion to equity?? http://www.transcentury....SettlementoftheBond.pdf I could not agree more. I have been scouring for details and I thought I was the one missing something but clearly there is no official communication of what agreement was reached and what this partnership is. A publicly listed company should fully disclose such information.
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Pesa Nane		#155 Posted : Thursday, March 24, 2016 3:50:59 PM
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c		Pesa Nane plans to be shilingi when he grows up.
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Kusadikika		#156 Posted : Thursday, March 24, 2016 4:23:45 PM
Rank: Elder Joined: 7/22/2008 Posts: 2,721		The debt was reduced to $40 Million from 80 Million!!!! Was the 40 million just written off or was it converted into equity? What fraction of the company does Kuramo get for their $20 million? What is the timeline for payment of the remaining $20 million? Are they going to raise it by debt or another equity injection? Like @alotoftalk said this company is operating like a private company. CMA should demand they disclose more or delist and go back private.
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Pesa Nane		#157 Posted : Thursday, March 24, 2016 4:58:22 PM
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c		Kusadikika wrote: The debt was reduced to $40 Million from 80 Million!!!! Was the 40 million just written off or was it converted into equity? What fraction of the company does Kuramo get for their $20 million? What is the timeline for payment of the remaining $20 million? Are they going to raise it by debt or another equity injection? Like @alotoftalk said this company is operating like a private company. CMA should demand they disclose more or delist and go back private. Original Bond = USD 80m Africa Infrastructure Co. agreement (buy out) with Majority Bondholders = USD 40m Reduced Debt = USD 40m Kuramo equity injection = USD 20m Current outstanding bond debt = USD 20m Pesa Nane plans to be shilingi when he grows up.
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alotoftalk		#158 Posted : Friday, March 25, 2016 3:39:59 AM
Rank: Member Joined: 8/27/2015 Posts: 138 Location: Harare		Pesa Nane wrote: Kusadikika wrote: The debt was reduced to $40 Million from 80 Million!!!! Was the 40 million just written off or was it converted into equity? What fraction of the company does Kuramo get for their $20 million? What is the timeline for payment of the remaining $20 million? Are they going to raise it by debt or another equity injection? Like @alotoftalk said this company is operating like a private company. CMA should demand they disclose more or delist and go back private. Original Bond = USD 80m Africa Infrastructure Co. agreement (buy out) with Majority Bondholders = USD 40m Reduced Debt = USD 40m Kuramo equity injection = USD 20m Current outstanding bond debt = USD 20m I don't believe the bondholders took a $40M haircut. Not when they had the whole company in their hands. There has to be a partial conversion of the $40M to equity. And this guessing is why CMA is failing. The lack of clear information on a definitive agreement already reached creates room for insiders to either stock up on the shares or clean out. Investment philosophy development in progress...
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sparkly		#159 Posted : Friday, March 25, 2016 8:28:04 AM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		alotoftalk wrote: Pesa Nane wrote: Kusadikika wrote: The debt was reduced to $40 Million from 80 Million!!!! Was the 40 million just written off or was it converted into equity? What fraction of the company does Kuramo get for their $20 million? What is the timeline for payment of the remaining $20 million? Are they going to raise it by debt or another equity injection? Like @alotoftalk said this company is operating like a private company. CMA should demand they disclose more or delist and go back private. Original Bond = USD 80m Africa Infrastructure Co. agreement (buy out) with Majority Bondholders = USD 40m Reduced Debt = USD 40m Kuramo equity injection = USD 20m Current outstanding bond debt = USD 20m I don't believe the bondholders took a $40M haircut. Not when they had the whole company in their hands. There has to be a partial conversion of the $40M to equity. And this guessing is why CMA is failing. The lack of clear information on a definitive agreement already reached creates room for insiders to either stock up on the shares or clean out. The Company is playing us for fools. At the very least TC still owes USD 60m and equity holders diluted by 100%. Life is short. Live passionately.
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alotoftalk		#160 Posted : Friday, April 08, 2016 5:18:40 AM
Rank: Member Joined: 8/27/2015 Posts: 138 Location: Harare		Weeks later, no details of the agreement to settle the bond. Private company mentality with CMA sleeping and snoring on the job. On a side note the late great James Gachui was an investor in both TCL and Chase Bank. Would have been a bad year for him. Investment philosophy development in progress...
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