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Cytonn Investments
paulkimani
#881 Posted : Sunday, August 23, 2020 11:15:51 AM
Rank: Member


Joined: 1/19/2016
Posts: 121
Queen wrote:
KulaRaha wrote:
paulkimani wrote:
Queen wrote:
KulaRaha wrote:
Queen wrote:
KulaRaha wrote:
Watch this thread. There will be many guys who lose their money to this scheme.

remember I said it here.


Post No.28. Posted on 16th January, 2016. Premonition?


Back then they were paying between 18% and 24% on deposits. No premonition needed, ponzi alert activated.

Remember, if it looks like a goat, has horns like a goat, and bleats like a goat, then it probably is a goat.



Some guys were not amused with your sentiments that time.

I always wondered if these trio could scam their employer, Britam, what aren't they capable of?



It’s four of them. Edwin Dande, Patricia Wanjama, Elizabeth Nkuku and Shiv Arora.
I called it from day one and everyone hated on me.

https://twitter.com/bone...290580602060668928?s=21

“ @CytonnInvest there's some mazematics going on in your unit trust statements that you need to fix. Things don't add up.”


Word on the street is that Shiv Arora has jumped ship like the proverbial rat.


https://www.google.com/a...taps-shiv-arora-as-ceo/


Just like the Goldberg scandal the muzungus will get away with it. He knew when to get out after all the people he has scammed.
paulkimani
#882 Posted : Thursday, August 27, 2020 1:17:44 PM
Rank: Member


Joined: 1/19/2016
Posts: 121
BGL
#883 Posted : Thursday, August 27, 2020 9:04:14 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,213
paulkimani wrote:
https://twitter.com/effects_then/status/1298668126779965440?s=21


What did cytonn do to you? Hii machungu mingi can take you to a deep state of depression which you might take ages to recover.
#Wachana naye.
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
Angelica _ann
#884 Posted : Sunday, August 30, 2020 5:24:10 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,709
https://nation.africa/ke...investment-fund-1928166


Cytonn fights new order on its investment fund
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
obiero
#885 Posted : Sunday, August 30, 2020 6:03:28 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,839
Location: nairobi
BGL wrote:
paulkimani wrote:
https://twitter.com/effects_then/status/1298668126779965440?s=21


What did cytonn do to you? Hii machungu mingi can take you to a deep state of depression which you might take ages to recover.
#Wachana naye.

Freedom of speech. Let the man speak his mind, heart and soul
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
paulkimani
#886 Posted : Sunday, August 30, 2020 7:27:09 PM
Rank: Member


Joined: 1/19/2016
Posts: 121
Angelica _ann wrote:
https://nation.africa/kenya/business/-cytonn-fights-new-order-on-its-investment-fund-1928166


Cytonn fights new order on its investment fund



The CMA have regulations restricting companies investing people’s funds which say the company can only invest 10% of the total amount raised into projects that the company is involved in. This gives room for the company to invest in a wide range of investment options and not be biased toward their own projects. It also protects investors if you invest in multiple projects by multiple companies. Cytonn CEO says this is an “economic crime”.

Cytonn went ahead and invested all the money in the fund - over kshs 860 million into their own projects. Only two projects. Both Cytonn projects.


Disclaimer: PK has never been an investor or employee of Cytonn.
sqft
#887 Posted : Monday, August 31, 2020 10:07:23 AM
Rank: Member


Joined: 1/10/2015
Posts: 729
Location: Kenya
When will they complete Alma project. It seems to be an endless money pit.

Quote:
Mr Dande has accused CMA of engaging in an economic crime, terming the order ‘malicious, unreasonable, irregular and illegal,’ that will fold the high-yield fund he started running in December 2019.

“The directive will cripple the operations of the fund, plunge the fund manager and the investment scheme into chaos resulting into unnecessary legal suits due to breach of contract and lead to massive walkout of the unit holders. It will also plunge the fund manager and the scheme into a financial quagmire as the unit holders will require an immediate return of funds,”Mr Dande said in an affidavit.

Cytonn asset managers had invested about 80 per cent of the Cytonn High Yield Funds into Cytonn’s Alma and Applewood properties, drawing the attention of CMA and the June directive.

Mr Dande argues that Cytonn High Yield Fund is a special fund and does not belong to the category where the law limits the investment of the funds to 10 per cent where the fund manager, trustee and custodian are related parties.

“It is commercially impractical or even near suicidal for the fund manager to withdraw funds it has already invested in its real estate projects. Funds once invested needs time to mature,” said Mr Dande.
Proverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
mozenrat
#888 Posted : Monday, August 31, 2020 3:43:13 PM
Rank: Veteran


Joined: 5/18/2008
Posts: 793
paulkimani wrote:
Queen wrote:
KulaRaha wrote:
paulkimani wrote:
Queen wrote:
KulaRaha wrote:
Queen wrote:
KulaRaha wrote:
Watch this thread. There will be many guys who lose their money to this scheme.

remember I said it here.


Post No.28. Posted on 16th January, 2016. Premonition?


Back then they were paying between 18% and 24% on deposits. No premonition needed, ponzi alert activated.

Remember, if it looks like a goat, has horns like a goat, and bleats like a goat, then it probably is a goat.



Some guys were not amused with your sentiments that time.

I always wondered if these trio could scam their employer, Britam, what aren't they capable of?



It’s four of them. Edwin Dande, Patricia Wanjama, Elizabeth Nkuku and Shiv Arora.
I called it from day one and everyone hated on me.

https://twitter.com/bone...290580602060668928?s=21

“ @CytonnInvest there's some mazematics going on in your unit trust statements that you need to fix. Things don't add up.”


Word on the street is that Shiv Arora has jumped ship like the proverbial rat.


https://www.google.com/a...taps-shiv-arora-as-ceo/


Just like the Goldberg scandal the muzungus will get away with it. He knew when to get out after all the people he has scammed.


A bit misleading to claim Shiv Arora has jumped ship yet he's been appointed to lead a subsidiary of Cytonn

Queen
#889 Posted : Monday, August 31, 2020 6:52:32 PM
Rank: Member


Joined: 11/21/2018
Posts: 410
Location: Britain
mozenrat wrote:
paulkimani wrote:
Queen wrote:
KulaRaha wrote:
paulkimani wrote:
Queen wrote:
KulaRaha wrote:
Queen wrote:
KulaRaha wrote:
Watch this thread. There will be many guys who lose their money to this scheme.

remember I said it here.


Post No.28. Posted on 16th January, 2016. Premonition?


Back then they were paying between 18% and 24% on deposits. No premonition needed, ponzi alert activated.

Remember, if it looks like a goat, has horns like a goat, and bleats like a goat, then it probably is a goat.



Some guys were not amused with your sentiments that time.

I always wondered if these trio could scam their employer, Britam, what aren't they capable of?



It’s four of them. Edwin Dande, Patricia Wanjama, Elizabeth Nkuku and Shiv Arora.
I called it from day one and everyone hated on me.

https://twitter.com/bone...290580602060668928?s=21

“ @CytonnInvest there's some mazematics going on in your unit trust statements that you need to fix. Things don't add up.”


Word on the street is that Shiv Arora has jumped ship like the proverbial rat.


https://www.google.com/a...taps-shiv-arora-as-ceo/


Just like the Goldberg scandal the muzungus will get away with it. He knew when to get out after all the people he has scammed.


A bit misleading to claim Shiv Arora has jumped ship yet he's been appointed to lead a subsidiary of Cytonn



Conversely, a bit misleading to claim that Superior Homes is a subsidiary of Cytonn Investments.
KulaRaha
#890 Posted : Tuesday, September 01, 2020 9:31:42 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,482
So has Arora's proxy on the board also resigned?
Business opportunities are like buses,there's always another one coming
paulkimani
#891 Posted : Tuesday, September 01, 2020 10:45:40 AM
Rank: Member


Joined: 1/19/2016
Posts: 121
KulaRaha wrote:
So has Arora's proxy on the board also resigned?


Not according to the website, which is usually updated promptly but could be they haven't voted yet or website isn't updated yet. https://cytonn.com/our-board
VituVingiSana
#892 Posted : Wednesday, September 02, 2020 8:55:49 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,262
Location: Nairobi
http://wazua.co.ke/forum...97&f=2&q=901413

PROPOSALS TO AMANA UNIT TRUST SCHEME (UTS)- AMANA SHILLING FUND CLASS B HOLDERS FOR CONSIDERATION AND ADOPTION

The Amana Shilling Fund (the Fund) Class B Unit Holders (specifically) having been informed of the impairment of their interests in the Fund as a result of losses incurred due to the investment by the Fund in the Nakumatt Holdings Limited commercial paper are requested to consider and adopt one the three options provided below.

It is important to note ACL does not accept any liability whatsoever resulting from the losses incurred in the Amana Shilling fund in providing the options.



Option A:
ACL has carefully considered various options avilaible that would ensure that the Unit Holders are able to salvage their investment. To this end ACL will offer the Unit Holders the option of recovering their investment through their acquisition of an equity stake in ACL. The proposed acqusition of an equity stake in the Sponsor would be undertaken on a voluntary basis by the Unit Holders and would be subject to such terms and conditions as will be contained in a Subscription Agreement to be executed by each of the Unit Holders. The Subscription Agreement will include, inter alia, the following terms:

a) The 59% funds written off in the Amana UTS Shilling Fund Class B be substituted for a 30% equity stake in ACL. This process will be done via an issuance of new shares in ACL.

b) The 30% equity shares will be issued proportionally to individual holdings of funds lost in the Amana UTS Shilling Fund Class B.

c) The dilution in shareholding of ACL would be as follows:
(i) A new investor has been identified to take up a 60% stake ( down from 70%)
(ii) Existing shareholders ownership will be reduced from 100% down to 30% and further to 10%.

d) The Unit Holders will be eligible for board seats in ACL in proportion to their 30% ownership.

e) The balance of the funds still supported by assets (circa 41%) will continue to be held in AUTS and governed by the Trust Deed as is.

f) The new investor will through its local networks attract new funding in the targetted amount of Kshs 300 Million to be managed by ACL as the fund manager. These funds will be invested to earn fees and increase profitability and returns for all shareholders. The funds will be sourced within 60 days of the equity conversion date.

g) The new investor will dedicate their time to the recovery and growth of ACL

h) Profits will be paid out in the form of dividends after catering for the working capital needs of ACL from internally generated funds. The new investor will comit to funding any shortfall in working capital for a period of 3 years following the equity conversion.There will be no call on the unitholders to finance working capital for 3 years. .

i) Should the unit trust fund holders choose option B, they would be required to waive the right of any legal action against ACL as Sponsor.

j) The new investor and existing shareholders can approachthe unit holders to acquire the shares at market price (put option).



OPTION B:
If option A is rejected by the Unit Holders; then without accepting any liability whatsoever resulting from the losses incurred in the Amana Shilling fund, the ACL shareholders (i.e. the new investor and existing shareholders) would propose to dilute their shareholding to 51% and issue new shares worth 49% to the Unit Holders under the following conditions:

a) The Unit Holders will be eligible for board seats in ACL in proportion to their 49% ownership

b) The preference shares currently issued to the new investor in ACL would be redeemed and not converted into equity, resulting in the new investor’s automatic exit from ACL within a maximum period of 1 year.

c) The working capital needs of ACL would be funded by both the existing shareholders and the Unit Holders in proportion to their new ownership (i.e. 51%:49%)

d) Should the Unit Holders choose this Option B, they will be required to waive the right of any legal action against ACL as Sponsor.



OPTION C:
If option A or option B are rejected by the Amana shilling fund Class B Unit holders, they are then requested to consider the following:

(a) Forfeit their investment in the Fund in accordance with the Fund’s Trust Deed and Rules and cease to have any legal or beneficial interest in the Fund or otherwise to the Sponsor or Trustee of the Fund in any manner whatsoever; or

(b) To continue their investment in the Fund through the conversion of the available balance of their investments in the Fund into equity in ACL in the manner set out below under either Option B or Option C.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Queen
#893 Posted : Wednesday, September 02, 2020 10:37:04 PM
Rank: Member


Joined: 11/21/2018
Posts: 410
Location: Britain
VituVingiSana wrote:
http://wazua.co.ke/forum.aspx?g=postmessage&t=37897&f=2&q=901413

PROPOSALS TO AMANA UNIT TRUST SCHEME (UTS)- AMANA SHILLING FUND CLASS B HOLDERS FOR CONSIDERATION AND ADOPTION

The Amana Shilling Fund (the Fund) Class B Unit Holders (specifically) having been informed of the impairment of their interests in the Fund as a result of losses incurred due to the investment by the Fund in the Nakumatt Holdings Limited commercial paper are requested to consider and adopt one the three options provided below.

It is important to note ACL does not accept any liability whatsoever resulting from the losses incurred in the Amana Shilling fund in providing the options.



Option A:
ACL has carefully considered various options avilaible that would ensure that the Unit Holders are able to salvage their investment. To this end ACL will offer the Unit Holders the option of recovering their investment through their acquisition of an equity stake in ACL. The proposed acqusition of an equity stake in the Sponsor would be undertaken on a voluntary basis by the Unit Holders and would be subject to such terms and conditions as will be contained in a Subscription Agreement to be executed by each of the Unit Holders. The Subscription Agreement will include, inter alia, the following terms:

a) The 59% funds written off in the Amana UTS Shilling Fund Class B be substituted for a 30% equity stake in ACL. This process will be done via an issuance of new shares in ACL.

b) The 30% equity shares will be issued proportionally to individual holdings of funds lost in the Amana UTS Shilling Fund Class B.

c) The dilution in shareholding of ACL would be as follows:
(i) A new investor has been identified to take up a 60% stake ( down from 70%)
(ii) Existing shareholders ownership will be reduced from 100% down to 30% and further to 10%.

d) The Unit Holders will be eligible for board seats in ACL in proportion to their 30% ownership.

e) The balance of the funds still supported by assets (circa 41%) will continue to be held in AUTS and governed by the Trust Deed as is.

f) The new investor will through its local networks attract new funding in the targetted amount of Kshs 300 Million to be managed by ACL as the fund manager. These funds will be invested to earn fees and increase profitability and returns for all shareholders. The funds will be sourced within 60 days of the equity conversion date.

g) The new investor will dedicate their time to the recovery and growth of ACL

h) Profits will be paid out in the form of dividends after catering for the working capital needs of ACL from internally generated funds. The new investor will comit to funding any shortfall in working capital for a period of 3 years following the equity conversion.There will be no call on the unitholders to finance working capital for 3 years. .

i) Should the unit trust fund holders choose option B, they would be required to waive the right of any legal action against ACL as Sponsor.

j) The new investor and existing shareholders can approachthe unit holders to acquire the shares at market price (put option).



OPTION B:
If option A is rejected by the Unit Holders; then without accepting any liability whatsoever resulting from the losses incurred in the Amana Shilling fund, the ACL shareholders (i.e. the new investor and existing shareholders) would propose to dilute their shareholding to 51% and issue new shares worth 49% to the Unit Holders under the following conditions:

a) The Unit Holders will be eligible for board seats in ACL in proportion to their 49% ownership

b) The preference shares currently issued to the new investor in ACL would be redeemed and not converted into equity, resulting in the new investor’s automatic exit from ACL within a maximum period of 1 year.

c) The working capital needs of ACL would be funded by both the existing shareholders and the Unit Holders in proportion to their new ownership (i.e. 51%:49%)

d) Should the Unit Holders choose this Option B, they will be required to waive the right of any legal action against ACL as Sponsor.



OPTION C:
If option A or option B are rejected by the Amana shilling fund Class B Unit holders, they are then requested to consider the following:

(a) Forfeit their investment in the Fund in accordance with the Fund’s Trust Deed and Rules and cease to have any legal or beneficial interest in the Fund or otherwise to the Sponsor or Trustee of the Fund in any manner whatsoever; or

(b) To continue their investment in the Fund through the conversion of the available balance of their investments in the Fund into equity in ACL in the manner set out below under either Option B or Option C.


Kizungu mingi....
KulaRaha
#894 Posted : Thursday, September 03, 2020 9:08:37 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,482
paulkimani wrote:
[quote=KulaRaha]So has Arora's proxy on the board also resigned?


Not according to the website, which is usually updated promptly but could be they haven't voted yet or website isn't updated yet. https://cytonn.com/our-board[/quote]

Am sure he will run soon...crooked lawyers dont like being cornered.
Business opportunities are like buses,there's always another one coming
heri
#895 Posted : Thursday, September 24, 2020 6:27:03 PM
Rank: Member


Joined: 9/14/2011
Posts: 783
Location: nairobi
https://kenyanwallstreet...npaid-claims-at-cytonn/

letter dated 21st September 2020 by CMA to Cytonn is seeking for the fund manager to resolve these investor complaints it has received against the investment firm.

A copy of the affidavit filed in court by the Authority, seen by Kenyan Wallstreet, shows that the regulator has so far received complaints from investors who are owed upwards of KSh 122.8 Million in unpaid claims. CMA says the investors are unable to cash in their investments-that have matured
maka
#896 Posted : Friday, September 25, 2020 12:16:39 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,359
Location: Nairobi
heri wrote:
https://kenyanwallstreet.com/cma-raises-red-flag-over-ksh-122-8-million-unpaid-claims-at-cytonn/

letter dated 21st September 2020 by CMA to Cytonn is seeking for the fund manager to resolve these investor complaints it has received against the investment firm.

A copy of the affidavit filed in court by the Authority, seen by Kenyan Wallstreet, shows that the regulator has so far received complaints from investors who are owed upwards of KSh 122.8 Million in unpaid claims. CMA says the investors are unable to cash in their investments-that have matured


Well..

🤷🏾‍♂️🤷🏾‍♂️🤷🏾‍♂️
possunt quia posse videntur
gk
#897 Posted : Friday, September 25, 2020 8:58:39 AM
Rank: Member


Joined: 5/17/2008
Posts: 481
maka wrote:
heri wrote:
https://kenyanwallstreet.com/cma-raises-red-flag-over-ksh-122-8-million-unpaid-claims-at-cytonn/

letter dated 21st September 2020 by CMA to Cytonn is seeking for the fund manager to resolve these investor complaints it has received against the investment firm.

A copy of the affidavit filed in court by the Authority, seen by Kenyan Wallstreet, shows that the regulator has so far received complaints from investors who are owed upwards of KSh 122.8 Million in unpaid claims. CMA says the investors are unable to cash in their investments-that have matured


Well..

🤷🏾‍♂️🤷🏾‍♂️🤷🏾‍♂️


Sooner or later they were going to reach their Waterloo..
Angelica _ann
#898 Posted : Friday, September 25, 2020 10:13:57 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,709
gk wrote:
maka wrote:
heri wrote:
https://kenyanwallstreet.com/cma-raises-red-flag-over-ksh-122-8-million-unpaid-claims-at-cytonn/

letter dated 21st September 2020 by CMA to Cytonn is seeking for the fund manager to resolve these investor complaints it has received against the investment firm.

A copy of the affidavit filed in court by the Authority, seen by Kenyan Wallstreet, shows that the regulator has so far received complaints from investors who are owed upwards of KSh 122.8 Million in unpaid claims. CMA says the investors are unable to cash in their investments-that have matured


Well..

🤷🏾‍♂️🤷🏾‍♂️🤷🏾‍♂️


Sooner or later they were going to reach their Waterloo..


This will definitely impact their ability to attract new investors/funds, negatively.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Ericsson
#899 Posted : Friday, September 25, 2020 10:39:41 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,983
Location: NAIROBI
VituVingiSana wrote:
http://wazua.co.ke/forum.aspx?g=postmessage&t=37897&f=2&q=901413

PROPOSALS TO AMANA UNIT TRUST SCHEME (UTS)- AMANA SHILLING FUND CLASS B HOLDERS FOR CONSIDERATION AND ADOPTION

The Amana Shilling Fund (the Fund) Class B Unit Holders (specifically) having been informed of the impairment of their interests in the Fund as a result of losses incurred due to the investment by the Fund in the Nakumatt Holdings Limited commercial paper are requested to consider and adopt one the three options provided below.

It is important to note ACL does not accept any liability whatsoever resulting from the losses incurred in the Amana Shilling fund in providing the options.



Option A:
ACL has carefully considered various options avilaible that would ensure that the Unit Holders are able to salvage their investment. To this end ACL will offer the Unit Holders the option of recovering their investment through their acquisition of an equity stake in ACL. The proposed acqusition of an equity stake in the Sponsor would be undertaken on a voluntary basis by the Unit Holders and would be subject to such terms and conditions as will be contained in a Subscription Agreement to be executed by each of the Unit Holders. The Subscription Agreement will include, inter alia, the following terms:

a) The 59% funds written off in the Amana UTS Shilling Fund Class B be substituted for a 30% equity stake in ACL. This process will be done via an issuance of new shares in ACL.

b) The 30% equity shares will be issued proportionally to individual holdings of funds lost in the Amana UTS Shilling Fund Class B.

c) The dilution in shareholding of ACL would be as follows:
(i) A new investor has been identified to take up a 60% stake ( down from 70%)
(ii) Existing shareholders ownership will be reduced from 100% down to 30% and further to 10%.

d) The Unit Holders will be eligible for board seats in ACL in proportion to their 30% ownership.

e) The balance of the funds still supported by assets (circa 41%) will continue to be held in AUTS and governed by the Trust Deed as is.

f) The new investor will through its local networks attract new funding in the targetted amount of Kshs 300 Million to be managed by ACL as the fund manager. These funds will be invested to earn fees and increase profitability and returns for all shareholders. The funds will be sourced within 60 days of the equity conversion date.

g) The new investor will dedicate their time to the recovery and growth of ACL

h) Profits will be paid out in the form of dividends after catering for the working capital needs of ACL from internally generated funds. The new investor will comit to funding any shortfall in working capital for a period of 3 years following the equity conversion.There will be no call on the unitholders to finance working capital for 3 years. .

i) Should the unit trust fund holders choose option B, they would be required to waive the right of any legal action against ACL as Sponsor.

j) The new investor and existing shareholders can approachthe unit holders to acquire the shares at market price (put option).



OPTION B:
If option A is rejected by the Unit Holders; then without accepting any liability whatsoever resulting from the losses incurred in the Amana Shilling fund, the ACL shareholders (i.e. the new investor and existing shareholders) would propose to dilute their shareholding to 51% and issue new shares worth 49% to the Unit Holders under the following conditions:

a) The Unit Holders will be eligible for board seats in ACL in proportion to their 49% ownership

b) The preference shares currently issued to the new investor in ACL would be redeemed and not converted into equity, resulting in the new investor’s automatic exit from ACL within a maximum period of 1 year.

c) The working capital needs of ACL would be funded by both the existing shareholders and the Unit Holders in proportion to their new ownership (i.e. 51%:49%)

d) Should the Unit Holders choose this Option B, they will be required to waive the right of any legal action against ACL as Sponsor.



OPTION C:
If option A or option B are rejected by the Amana shilling fund Class B Unit holders, they are then requested to consider the following:

(a) Forfeit their investment in the Fund in accordance with the Fund’s Trust Deed and Rules and cease to have any legal or beneficial interest in the Fund or otherwise to the Sponsor or Trustee of the Fund in any manner whatsoever; or

(b) To continue their investment in the Fund through the conversion of the available balance of their investments in the Fund into equity in ACL in the manner set out below under either Option B or Option C.



The AGM for shareholders to approve one of the options is this week.
Pesa ilikunywa maji
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#900 Posted : Friday, September 25, 2020 10:45:28 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,983
Location: NAIROBI
Angelica _ann wrote:
gk wrote:
maka wrote:
heri wrote:
https://kenyanwallstreet.com/cma-raises-red-flag-over-ksh-122-8-million-unpaid-claims-at-cytonn/

letter dated 21st September 2020 by CMA to Cytonn is seeking for the fund manager to resolve these investor complaints it has received against the investment firm.

A copy of the affidavit filed in court by the Authority, seen by Kenyan Wallstreet, shows that the regulator has so far received complaints from investors who are owed upwards of KSh 122.8 Million in unpaid claims. CMA says the investors are unable to cash in their investments-that have matured


Well..

🤷🏾‍♂️🤷🏾‍♂️🤷🏾‍♂️


Sooner or later they were going to reach their Waterloo..


This will definitely impact their ability to attract new investors/funds, negatively.


The bubble is about to burst.Money is stuck in concrete structures/jungle.
Covid-19 plus economic downturn impacting real estate/purchase of residential units.
Cyton houses are pricy hence don't qualify for affordable housing.
Estates are densely populated and lack green environment hence not attractive to people who love space and somewhere to relax during the day
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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