Wazua
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Unga limited takeover
Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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Rank: Member Joined: 11/17/2018 Posts: 173 Location: Mars
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The Act required a shareholder to accumulate at least 90 per cent shareholding for a takeover to be successful. The amendment however lowers this to just 50 per cent.“The Amendment Act now lowers the 90 per cent threshold to just 50 per cent, thereby pulling Kenya away from global practice in relation to minority shareholder protections," said Bowmans Law in an analysis. "The lower threshold allows any bidder to force out any non-assenting shareholders easily if 50 per cent of the shares to which the offer relates accept the offer.” “There are few, if any, jurisdictions globally with such a low threshold for compulsory acquisition. We anticipate challenges to the legitimacy of this amendment and, potentially, in respect of any take-over effected in the future that takes advantage of the lower thresholds," said the law firm. https://www.standardmedi...ower-in-new-legal-change
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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Extraterrestrial wrote:The Act required a shareholder to accumulate at least 90 per cent shareholding for a takeover to be successful. The amendment however lowers this to just 50 per cent.“The Amendment Act now lowers the 90 per cent threshold to just 50 per cent, thereby pulling Kenya away from global practice in relation to minority shareholder protections," said Bowmans Law in an analysis. "The lower threshold allows any bidder to force out any non-assenting shareholders easily if 50 per cent of the shares to which the offer relates accept the offer.” “There are few, if any, jurisdictions globally with such a low threshold for compulsory acquisition. We anticipate challenges to the legitimacy of this amendment and, potentially, in respect of any take-over effected in the future that takes advantage of the lower thresholds," said the law firm. https://www.standardmedi...wer-in-new-legal-change This is worrisome but "We anticipate challenges to the legitimacy of this amendment and, potentially, in respect of any take-over effected in the future that takes advantage of the lower thresholds" It's interesting to note who the Chairman of the CMA is and which family has 50%+ of Unga's shares! SAHL tried to get to 74.99% of Stanbic and it can choose a takeover option. BAT EABL BBK/ABSA KPLC KenRe Most firms have a single or combination/related shareholders with 50%+ and what choice does that leave the minorities with? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 14,211 Location: nairobi
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VituVingiSana wrote:obiero wrote:VituVingiSana wrote:Ericsson wrote:obiero wrote:VituVingiSana wrote:@Obiero Nilisahau NIC's dividends will pay for my electronics. C&G's dividends paid for my travel. Safaricom's dividends will pay for my internet and phone service.  @Young and I are "wazee" and we don't mind the dividends! 30% drop in profit. I wonder if they will maintain the dividend Profit before tax declined by more than 50% from ksh.1.293bn to 615mn Tough economy - many firms have suffered under #TanoTena Proud of Unga which has remained profitable with all the politics and bad vibes in a year when many firms ended up with losses. Dividend is 50 cents (vs 1/- last year) but enough to pay for my expenses.  I suspect @young is also like me and we try to earn more than we spend. Or adjust our spending to our income. Maybe it's time to sell Not for me at the moment. Perhaps in the future if the circumstances change. The challenge is there are so many wonderful bargains on the NSE and I have no cash so dividends are highly anticipated and welcome. KenRe Unga Centum I&M From 35 to 16 and still sliding into the abyss.. Well, atleast no one will say I didn't try to warn my senior
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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obiero wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:Ericsson wrote:obiero wrote:VituVingiSana wrote:@Obiero Nilisahau NIC's dividends will pay for my electronics. C&G's dividends paid for my travel. Safaricom's dividends will pay for my internet and phone service. @Young and I are "wazee" and we don't mind the dividends! 30% drop in profit. I wonder if they will maintain the dividend Profit before tax declined by more than 50% from ksh.1.293bn to 615mn Tough economy - many firms have suffered under #TanoTena Proud of Unga which has remained profitable with all the politics and bad vibes in a year when many firms ended up with losses. Dividend is 50 cents (vs 1/- last year) but enough to pay for my expenses. I suspect @young is also like me and we try to earn more than we spend. Or adjust our spending to our income. Maybe it's time to sell Not for me at the moment. Perhaps in the future if the circumstances change. The challenge is there are so many wonderful bargains on the NSE and I have no cash so dividends are highly anticipated and welcome. KenRe Unga Centum I&M From 35 to 16 and still sliding into the abyss.. Well, atleast no one will say I didn't try to warn my senior Almost the entire NSE is suffering since 2018. Saf shareholders are also crying with the recent slide.  Even though there have been major hits eg KES/USD, Russia-Ukraine, etc, it does feel like the majority are deliberately keeping the reported performance down. Despite all that, I am glad I did not sell my Unga to buy KQ. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi
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When did this crash to 15 and people refused to sell at 30? "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 6/23/2009 Posts: 14,211 Location: nairobi
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mlennyma wrote:When did this crash to 15 and people refused to sell at 30? can you believe it. people refused to sell at over 100% premium! Unga began the year with a share price of 32.00 KES but has since lost 51.1% off that price valuation, ranking it 62nd on the NSE in terms of year-to-date performance. Understanding the Kenyan investor is a difficult task https://afx.kwayisi.org/nse/unga.html
KQ ABP 4.26
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Rank: Elder Joined: 6/23/2009 Posts: 14,211 Location: nairobi
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VituVingiSana wrote:obiero wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:Ericsson wrote:obiero wrote:VituVingiSana wrote:@Obiero Nilisahau NIC's dividends will pay for my electronics. C&G's dividends paid for my travel. Safaricom's dividends will pay for my internet and phone service. @Young and I are "wazee" and we don't mind the dividends! 30% drop in profit. I wonder if they will maintain the dividend Profit before tax declined by more than 50% from ksh.1.293bn to 615mn Tough economy - many firms have suffered under #TanoTena Proud of Unga which has remained profitable with all the politics and bad vibes in a year when many firms ended up with losses. Dividend is 50 cents (vs 1/- last year) but enough to pay for my expenses. I suspect @young is also like me and we try to earn more than we spend. Or adjust our spending to our income. Maybe it's time to sell Not for me at the moment. Perhaps in the future if the circumstances change. The challenge is there are so many wonderful bargains on the NSE and I have no cash so dividends are highly anticipated and welcome. KenRe Unga Centum I&M From 35 to 16 and still sliding into the abyss.. Well, atleast no one will say I didn't try to warn my senior Almost the entire NSE is suffering since 2018. Saf shareholders are also crying with the recent slide. Even though there have been major hits eg KES/USD, Russia-Ukraine, etc, it does feel like the majority are deliberately keeping the reported performance down. Despite all that, I am glad I did not sell my Unga to buy KQ. A sad case that needs to be studied
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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obiero wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:Ericsson wrote:obiero wrote:VituVingiSana wrote:@Obiero Nilisahau NIC's dividends will pay for my electronics. C&G's dividends paid for my travel. Safaricom's dividends will pay for my internet and phone service. @Young and I are "wazee" and we don't mind the dividends! 30% drop in profit. I wonder if they will maintain the dividend Profit before tax declined by more than 50% from ksh.1.293bn to 615mn Tough economy - many firms have suffered under #TanoTena Proud of Unga which has remained profitable with all the politics and bad vibes in a year when many firms ended up with losses. Dividend is 50 cents (vs 1/- last year) but enough to pay for my expenses. I suspect @young is also like me and we try to earn more than we spend. Or adjust our spending to our income. Maybe it's time to sell Not for me at the moment. Perhaps in the future if the circumstances change. The challenge is there are so many wonderful bargains on the NSE and I have no cash so dividends are highly anticipated and welcome. KenRe Unga Centum I&M From 35 to 16 and still sliding into the abyss.. Well, atleast no one will say I didn't try to warn my senior Almost the entire NSE is suffering since 2018. Saf shareholders are also crying with the recent slide. Even though there have been major hits eg KES/USD, Russia-Ukraine, etc, it does feel like the majority are deliberately keeping the reported performance down. Despite all that, I am glad I did not sell my Unga to buy KQ. A sad case that needs to be studied True. To think what KQ's shareholders went through. No dividends for years. Huge debt. Dilution of % ownership. Suspended from trading for years. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 14,211 Location: nairobi
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VituVingiSana wrote:obiero wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:obiero wrote:VituVingiSana wrote:Ericsson wrote:obiero wrote:VituVingiSana wrote:@Obiero Nilisahau NIC's dividends will pay for my electronics. C&G's dividends paid for my travel. Safaricom's dividends will pay for my internet and phone service. @Young and I are "wazee" and we don't mind the dividends! 30% drop in profit. I wonder if they will maintain the dividend Profit before tax declined by more than 50% from ksh.1.293bn to 615mn Tough economy - many firms have suffered under #TanoTena Proud of Unga which has remained profitable with all the politics and bad vibes in a year when many firms ended up with losses. Dividend is 50 cents (vs 1/- last year) but enough to pay for my expenses. I suspect @young is also like me and we try to earn more than we spend. Or adjust our spending to our income. Maybe it's time to sell Not for me at the moment. Perhaps in the future if the circumstances change. The challenge is there are so many wonderful bargains on the NSE and I have no cash so dividends are highly anticipated and welcome. KenRe Unga Centum I&M From 35 to 16 and still sliding into the abyss.. Well, atleast no one will say I didn't try to warn my senior Almost the entire NSE is suffering since 2018. Saf shareholders are also crying with the recent slide. Even though there have been major hits eg KES/USD, Russia-Ukraine, etc, it does feel like the majority are deliberately keeping the reported performance down. Despite all that, I am glad I did not sell my Unga to buy KQ. A sad case that needs to be studied True. To think what KQ's shareholders went through. No dividends for years. Huge debt. Dilution of % ownership. Suspended from trading for years. Hehe. Nyani haoni kundush
KQ ABP 4.26
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