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4 Pages«<234
CIC Insurance 2019
Ericsson
#61 Posted : Wednesday, April 01, 2020 9:45:48 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,377
Location: NAIROBI
heri wrote:
Ericsson wrote:
Angelica _ann wrote:
Ericsson wrote:
https://pbs.twimg.com/media/EUb9njmXYAEv5TK?format=jpg&name=large



Corporate governance in Kenya for you, what is the purposes of this notice.


To inform shareholders they have found a buyer for the piece of land.
The returns they will get will be a windfall.


assuming they are selling at a profit


The land was bought 10 years ago before even the company was listed on the NSE
heri
#62 Posted : Thursday, April 02, 2020 7:54:17 AM
Rank: Member


Joined: 9/14/2011
Posts: 741
Location: nairobi
Ericsson wrote:
heri wrote:
Ericsson wrote:
Angelica _ann wrote:
Ericsson wrote:
https://pbs.twimg.com/media/EUb9njmXYAEv5TK?format=jpg&name=large



Corporate governance in Kenya for you, what is the purposes of this notice.


To inform shareholders they have found a buyer for the piece of land.
The returns they will get will be a windfall.


assuming they are selling at a profit


The land was bought 10 years ago before even the company was listed on the NSE


Oh okay. Was it held at cost?
mwanahisa
#63 Posted : Thursday, April 02, 2020 9:31:33 AM
Rank: Elder


Joined: 6/2/2008
Posts: 1,431
heri wrote:
Ericsson wrote:
heri wrote:
Ericsson wrote:
Angelica _ann wrote:
Ericsson wrote:
https://pbs.twimg.com/media/EUb9njmXYAEv5TK?format=jpg&name=large



Corporate governance in Kenya for you, what is the purposes of this notice.


To inform shareholders they have found a buyer for the piece of land.
The returns they will get will be a windfall.


assuming they are selling at a profit


The land was bought 10 years ago before even the company was listed on the NSE


Oh okay. Was it held at cost?


No. It was not held at cost.

They have been revaluing their investment property periodically, hence any revaluation gains/losses have already been reflected in their financial reports.
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