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Co-operative Bank FY14 results earnings -0.8%
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murchr
#21 Posted : Saturday, March 28, 2015 4:33:36 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
mlennyma wrote:
murchr wrote:
the Star wrote:
A freelance journalist has sued the Cooperative Bank of Kenya accusing senior managers of hoarding some of the bank's shares.

In a public interest suit, Kenneth Gitobu says he is a shareholder of the bank but questions why class A shares, which he claims constitute 65 percent of the Bank's shareholding, are never traded at the Nairobi Securities Exchange. The journalist now wants the court to order the class A shares to be traded and the alleged owners compelled to compensate other shareholders for 'losses' incurred since the 2008 initial public offer.

Gitobu has sued the CEO Gideon Muriuki, Stanley Muchiri among others. He says that he sought an explanation from Muriuki on the issue of Class A shares and was allegedly informed that the said shares failed to raise enough capital for the expansion of the bank.




if the facts are true,there is a case to answerSad



Do you think the existing shareholders would get a piece of this cake? If so, wouldn't this catapult the share price?
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Ericsson
#22 Posted : Saturday, March 28, 2015 4:46:50 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
Class A shareholders are the saccos and they form under the umbrella co-operative alliance.
The saccos initially signed an agreement with coop bank not to sell their shares within the first three years after listing.
When the three years lapsed they signed again an agreement not to sell their shares in the banks for the next 5 years.
This are the anchor shareholders of the bank
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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maka
#23 Posted : Saturday, March 28, 2015 5:25:50 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Ericsson wrote:
Class A shareholders are the saccos and they form under the umbrella co-operative alliance.
The saccos initially signed an agreement with coop bank not to sell their shares within the first three years after listing.
When the three years lapsed they signed again an agreement not to sell their shares in the banks for the next 5 years.
This are the anchor shareholders of the bank

Interesting...
possunt quia posse videntur
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watesh
#24 Posted : Saturday, March 28, 2015 5:28:12 PM
Rank: Veteran


Joined: 8/10/2014
Posts: 977
Location: Kenya
mlennyma wrote:
murchr wrote:
the Star wrote:
A freelance journalist has sued the Cooperative Bank of Kenya accusing senior managers of hoarding some of the bank's shares.

In a public interest suit, Kenneth Gitobu says he is a shareholder of the bank but questions why class A shares, which he claims constitute 65 percent of the Bank's shareholding, are never traded at the Nairobi Securities Exchange. The journalist now wants the court to order the class A shares to be traded and the alleged owners compelled to compensate other shareholders for 'losses' incurred since the 2008 initial public offer.

Gitobu has sued the CEO Gideon Muriuki, Stanley Muchiri among others. He says that he sought an explanation from Muriuki on the issue of Class A shares and was allegedly informed that the said shares failed to raise enough capital for the expansion of the bank.




if the facts are true,there is a case to answerSad

So we are buying poopoo shares?
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murchr
#25 Posted : Saturday, March 28, 2015 5:51:05 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
maka wrote:
Ericsson wrote:
Class A shareholders are the saccos and they form under the umbrella co-operative alliance.
The saccos initially signed an agreement with coop bank not to sell their shares within the first three years after listing.
When the three years lapsed they signed again an agreement not to sell their shares in the banks for the next 5 years.
This are the anchor shareholders of the bank

Interesting...


Do you think this case holds any water?
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Boris Boyka
#26 Posted : Saturday, March 28, 2015 6:00:02 PM
Rank: Veteran


Joined: 11/15/2013
Posts: 1,977
Location: Here
murchr wrote:
maka wrote:
Ericsson wrote:
Class A shareholders are the saccos and they form under the umbrella co-operative alliance.
The saccos initially signed an agreement with coop bank not to sell their shares within the first three years after listing.
When the three years lapsed they signed again an agreement not to sell their shares in the banks for the next 5 years.
This are the anchor shareholders of the bank

Interesting...


Do you think this case holds any water?

No water. case dismissed. Interests of cooperatives in kenya come first!
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Angelica _ann
#27 Posted : Saturday, March 28, 2015 6:45:44 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908
Boris Boyka wrote:
murchr wrote:
maka wrote:
Ericsson wrote:
Class A shareholders are the saccos and they form under the umbrella co-operative alliance.
The saccos initially signed an agreement with coop bank not to sell their shares within the first three years after listing.
When the three years lapsed they signed again an agreement not to sell their shares in the banks for the next 5 years.
This are the anchor shareholders of the bank

Interesting...


Do you think this case holds any water?

No water. case dismissed. Interests of cooperatives in kenya come first!

Nothing here. Cooperatives own shares they are not trading so what is wrong with that. Infact wanjiku should thank them for not flooding the market.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Bachuma Gate
#28 Posted : Monday, March 30, 2015 12:42:13 AM
Rank: Member


Joined: 3/26/2012
Posts: 280
This thing of IPO share split and how senior managers acquired shares in co-op will haunt Gideon to his grave. Haita isha vizuri. Mutu ataumia.
DOH
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Othelo
#29 Posted : Thursday, May 28, 2015 12:50:22 PM
Rank: User


Joined: 1/20/2014
Posts: 3,528
Books closure for Coop bank for dividends, anybody??????
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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subaru
#30 Posted : Thursday, May 28, 2015 12:55:10 PM
Rank: Member


Joined: 3/15/2010
Posts: 391
Location: nairobie
Othelo wrote:
Books closure for Coop bank for dividends, anybody??????


today 28th
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Othelo
#31 Posted : Thursday, May 28, 2015 1:06:28 PM
Rank: User


Joined: 1/20/2014
Posts: 3,528
subaru wrote:
Othelo wrote:
Books closure for Coop bank for dividends, anybody??????


today 28th

Thanks........... needed that info; asanta!!!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Pesa Nane
#32 Posted : Friday, May 29, 2015 12:59:01 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Changes in Directorship
Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#33 Posted : Friday, May 29, 2015 1:01:27 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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