But the offer is 3.4 per cent below the company’s value as at - TopicsExpress



          

But the offer is 3.4 per cent below the company’s value as at the last day of trading two years ago, a factor that could cause heavy resistance from shareholders. Before trading in the company’s shares was stopped by the Capital Markets Authority following incessant boardroom wrangles, the company’s shares were trading at Sh13.50 with total market value of Sh7.8 billion. Essentially, this means the company’s shareholders will lose upwards of Sh300 million if the deal goes through as it is. It would also mean all the current directors who sit on the company’s board on account of their shareholding or as proxies for the big shareholders would have to exit their positions. thepeople.co.ke/20064/dubai-tycoon-bids-sh7-5b-cmc/
Posted on: Tue, 10 Sep 2013 07:41:10 +0000

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