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Co-op Bank Upcoming Rights Issue
Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Co-op bank looking to recruit Chinese-speaking executives www.businessdailyafrica....8/-/t4fj78z/-/index.htmlGOD BLESS YOUR LIFE
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Rank: Member Joined: 5/19/2009 Posts: 1
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Rank: Member Joined: 12/15/2010 Posts: 162
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invest0r wrote:Ericsson wrote:Co-op bank is planning to do a rights issue to raise additional capital and to boost the statutory ratios.According to the notice of the upcoming AGM they plan to increase the share capital from Ksh.3.7 billion made up of 3.7 billion shares to ksh.5 billion made up of 5billion shares through the creation of an additional 1.3 billion shares to rank pari passu with the existing shares pls provide link with info that co-op bank is planning to have a rights issue. According to the notice posted in the dailies, the shareholders will pass a special resolution to increase the AUTHORISED share capital. The notice does not mention that the shareholders will in addition pass a special resolution to increase the ISSUED share capital through a rights issue. Quote:wole Posted: Wednesday, May 04, 2011 12:31:57 AM Here is the link! http://www.co-opbank.co....ile/AGMNoticeQPAdO1.jpg @wole, that link does not mention that shareholders will pass a resolution to increase the ISSUED share capital through a rights issue. There is a great difference between AUTHORISED and ISSUED share capital.
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Rank: Veteran Joined: 7/22/2008 Posts: 1,139
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I am heading to the broker to sell.I am not interested with the additional rights. "You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
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Rank: Elder Joined: 10/13/2009 Posts: 1,950 Location: in kenya
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They are just increasing the number of authorized shares to 5 billion from 3.7 billion but there is no mention of what they will do with the shares.So the right issue is just a matter of speculation. '......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Rank: Member Joined: 1/3/2011 Posts: 264 Location: Nairobi
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Who knows, it might even be an esop. Negative sentiment is murdering this stock. At sub 16 bob before june 3rd, i will crack the piggie bank and buy more of it.
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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invest0r wrote:invest0r wrote:Ericsson wrote:Co-op bank is planning to do a rights issue to raise additional capital and to boost the statutory ratios.According to the notice of the upcoming AGM they plan to increase the share capital from Ksh.3.7 billion made up of 3.7 billion shares to ksh.5 billion made up of 5billion shares through the creation of an additional 1.3 billion shares to rank pari passu with the existing shares pls provide link with info that co-op bank is planning to have a rights issue. According to the notice posted in the dailies, the shareholders will pass a special resolution to increase the AUTHORISED share capital. The notice does not mention that the shareholders will in addition pass a special resolution to increase the ISSUED share capital through a rights issue. Quote:wole Posted: Wednesday, May 04, 2011 12:31:57 AM Here is the link! http://www.co-opbank.co....ile/AGMNoticeQPAdO1.jpg @wole, that link does not mention that shareholders will pass a resolution to increase the ISSUED share capital through a rights issue. There is a great difference between AUTHORISED and ISSUED share capital. May be some firm like the way Elios did with Equity wants to acquire some shareholding of the bank. Coop could also use the additional shares to issue to a strategic investor especially now that they want to invest in SS, Rwanda and in the region.
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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Muthawamunene wrote:Who knows, it might even be an esop. Negative sentiment is murdering this stock. At sub 16 bob before june 3rd, i will crack the piggie bank and buy more of it. It has to go sub IPO of 9.50 for me to touch it if that is the case. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Impunity wrote:Muthawamunene wrote:Who knows, it might even be an esop. Negative sentiment is murdering this stock. At sub 16 bob before june 3rd, i will crack the piggie bank and buy more of it. It has to go sub IPO of 9.50 for me to touch it if that is the case. eish..boss..sub-ipo? Isn't that too pessimistic?
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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@impunity..in the unlikely event that it does go that low..i have always loved a no-brainer.
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Rank: Member Joined: 1/3/2011 Posts: 264 Location: Nairobi
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Cde Monomotapa wrote:Impunity wrote:Muthawamunene wrote:Who knows, it might even be an esop. Negative sentiment is murdering this stock. At sub 16 bob before june 3rd, i will crack the piggie bank and buy more of it. It has to go sub IPO of 9.50 for me to touch it if that is the case. eish..boss..sub-ipo? Isn't that too pessimistic? Personally i think this rights thing is hulla-balloo, at least till i see some hard-core investor breifing. And even in the case of a rights issue, sub ipo is highly unlikely, unless the economy or the company goes to the dogs, the former more of a possibility. so why should i by more? well my current buying average is too high for my liking, gives me a bout of ulcer at night, so 16.50 is good. mambo ni kuwa liquid all the time and ready to nyakua when everyone is jumping ship, plus we want that extra 40 cents cheque
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Rank: Member Joined: 6/9/2009 Posts: 85
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businessdailyafrica"By creating additional shares, the bank will have the space to float a rights issue, capitalise reserves through a bonus offer to shareholders and employees or finance an acquisition through a share swap."
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Rank: Member Joined: 1/3/2011 Posts: 264 Location: Nairobi
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Lets just wait n see. its goin down on the 27th at bomas. Eagerly waiting to feast my eyes on this qw fella, that is, if he shows up.
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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Muthawamunene wrote:Lets just wait n see. its goin down on the 27th at bomas. Eagerly waiting to feast my eyes on this qw fella, that is, if he shows up. =>and how will you know he's the one? The opposite of courage is not cowardice, it's conformity.
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Rank: Member Joined: 1/3/2011 Posts: 264 Location: Nairobi
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jerry wrote:Muthawamunene wrote:Lets just wait n see. its goin down on the 27th at bomas. Eagerly waiting to feast my eyes on this qw fella, that is, if he shows up. =>and how will you know he's the one? There will be fire works in the sky, lol lol, jus kiddin. wacha i holla at him niskie if he'll show.
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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There is a high chance of Coop Bank following in the footsteps of NIC & TPSEA i.e Declare a 0.50 dividend, a bonus and do a rights issue. History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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BGL wrote:There is a high chance of Coop Bank following in the footsteps of NIC & TPSEA How high is that chance¿¿ I might need to quote you later on when they announce results... Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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Muthawamunene wrote:jerry wrote:Muthawamunene wrote:Lets just wait n see. its goin down on the 27th at bomas. Eagerly waiting to feast my eyes on this qw fella, that is, if he shows up. =>and how will you know he's the one? There will be fire works in the sky, lol lol, jus kiddin. wacha i holla at him niskie if he'll show. @MosesOfBoss! did you feast your eyes on ...QW?? The opposite of courage is not cowardice, it's conformity.
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Rank: User Joined: 1/24/2012 Posts: 1,675 Location: In Da Hood
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jerry wrote:Muthawamunene wrote:jerry wrote:Muthawamunene wrote:Lets just wait n see. its goin down on the 27th at bomas. Eagerly waiting to feast my eyes on this qw fella, that is, if he shows up. =>and how will you know he's the one? There will be fire works in the sky, lol lol, jus kiddin. wacha i holla at him niskie if he'll show. @MosesOfBoss! did you feast your eyes on ...QW?? yes i was there. I was that guy surrounded by all those fly ,sofisticated, lovely business women. I love agms. Lolest 
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Rank: Elder Joined: 12/4/2009 Posts: 10,790 Location: NAIROBI
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When is Co-opertaive Bank announcing the full year results. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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