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Thoughts on TPS Serena
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Ericsson
#171 Posted : Friday, July 02, 2021 8:32:58 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
Ericsson wrote:
Shareholders approved a rights issue during AGM held on 28 June

https://tradingroom.co.k...a-set-for-rights-issue/

I feel for TPSEA... They have been hit by one disaster after another. From PEV 2008 to election drama every 5 years to government fiscal mismanagement to COVID19.

I wonder how many hotels will make it out of the current mess. If TPSEA manages to find sufficient capital or cheap long-term debt there are lots of acquisitions that can be made where it does not have a presence.


@VVS are you still in this tour van?
I sold some into demand earlier(17-18) but have a few left.

I like the management, brand and CEO but vitu kwa ground ni different. They are suffering and you could see that on the CEO's face during the AGM.


You attend AGMs for all the companies you have shares in.
Good job Applause Applause
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Ericsson
#172 Posted : Wednesday, June 08, 2022 1:37:36 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
The Aga Khan Fund for Economic Development is set to raise its stake in Serena Hotels (TPS Eastern Africa) to 64.36% through the acquisition of new shares in the business via a debt to equity conversion.
The fund nevertheless does not intend to acquire minority shareholders after the transaction and has applied to the Capital Markets Authority (CMA) to be exempted from takeover regulations.
The Fund believes that the conversion is key in ensuring long-term sustainability and growth of the hotel chain going forward
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