For those who may not be aware, KPLC CEO released a press statement on this date 7-months ago.... read it here
http://www.kplc.co.ke/Us...tal%20Restructuring.pdf
In summary the statement gives a sneak preview of the entire share capital restructuring and specifically focusing on (i) conversion of 87% of 7.85% redeemable preferences shares owned by GOK (ii) floatation of a rights issue and (iii) Share split.
What is a major concern is that this was to be completed in the first half of 2010 and 7 months later no info is forthcoming and we have to keep on waiting. KPLC management and board of directors need to wake up. Morealso these guys have the largest number of board meetings in a year among all the NSE listed companies.
But!! I benefited by picking up some 3000 shares at Ksh.138. My previous purchase was at Ksh 220 in Nov 2007.
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