Yes somewhere around that price, but remember the fair value @ 17.65, then mark-up from the fair value.
The graph on Zambia doesnt go beyond one year the price might have been lower than or around 500 at the time of the initial cautionary statement

The 1205 on the graph could be one of two scenarios:

1) The price AFTER Puma announced the buy-out price. In essence, the folks who bought at 1205 wanted to be shareholders or were speculating on a higher offer by Puma. Risky move.

Puma's announcement came when KK was 12.50 but was suspended. Then the suspension was lifted & the current price is 15. If Puma announces 20, the price will trend towards 20 on speculation that Puma may increase the bid. The sellers can refuse to sell below 20 [except the discount for time value].

2) The price the LuSE shows on the price list is not the trading price but what Puma offered as the buy-out price, in essence the bid. The last or highest trading price prior to the offer might have been much lower.

This would be the equivalent of KK trading at 15 on 5th Sep then Puma announcing 20 on 7th Sep (with a suspension) which becomes the "bid" for all practical purposes until the suspension is lifted.

So the deal took 2 and a half years to close?

2014 si mbali saaaana. Sindio?

Not quite. What happened was that LuSE (& GRZ) did not want BP/Puma to de-list so they kept on throwing roadblocks. The same happened with Celtel/Airtel.

Zambia was socialist. These firms had a government ownership which was floated/listed [see Safaricom, etc] but the 'new' buyers did not want to remain listed for some reason or the other. Note that neither Puma nor Airtel are listed on any exchange in Africa except Zambia.

LuSE is a small exchange therefore BP/Puma & Celtel/Airtel de-listing would be a huge blow. It's more about nationalism than economics.

Back to Kenya. The delays are about the fools seeking to stop/delay the transaction not the NSE/GoK (well, not yet!). The good news is KK is profitable & probably has an informal JV with Puma already for supply of crude, fuel, etc.

If a good offer is made e.g. 20, why would shareholders petition the NSE/CMA/GoK to delay the payment?

@VVS will kestrel put in the bid for KK?? Is Kestrel carrying out due diligence for Puma??

if in Zambia they offered 1205 up from 875 that is a useless gain for 2 whole years waiting for a deal...

KK shareholders should not be shocked if Puma offers 17bob because that is a serious gain from the average price before the cautionary statement!

If the deal falls through i will gladly buy at 8-9bob!

btw the KK shares i sold at 14bob to buy KCB @ 25bob have already made me a cool 12%