Bullish Thoughts: Police Bicycles cause
increase in public beer drinking
Bullish
Thoughts looks at tries that were scored in the closing match of the “IRB World
Cup’ …oops... Premiership … in the match between Man City & Man U, says
nothing really useful on equity financing, wonders who the government
structured finance/ business restructuring adviser is and notes the increased
volume of shareholder profile changes.
IRB inspires Man City…
Since
high school, Bullish Thoughts has always known that open foot challenge is a straight
red card. That it continues to happen in high profile games by high profile
players irks.
Bullish
Thoughts is a Blues fan. After the noisy neighbours probably inspired by the IRB World Cup final
earlier that day handed the red devils a rugby score-line Sunday with “tries”
from Balotelli and company, the Blues were surely tipped to go second.
Unfortunately,
the blues saw red. And Bullish Thoughts could not recover that Sunday, the
Monday an only got better Tuesday night.
Hence
the delays in the series publication.
Enough
about soccer!
Hair raising capital raising initiatives…
It’s quite interesting to see that
Kingdom did make some progress in its capital raising initiatives. There was a 55.6% subscription to the $4.5m
rights offer. The institution has now commenced a $7.5m private placement which
will close end of November 2011.
On the other hand, there seems to be
no adequate trust in Trust Holdings by investors as the FI is reported to be
still negotiating with South African investors for the sale of 25% equity in
the business.
In insurance, AFRE’s $15m
recapitalisation plan for its subsidiaries has been further delayed, owing to
the deferment of an EGM set to approve the capital raising.
Hopefully, all these FIs will find
the necessary equity support “timeously” lest JM may become the new buzz word
especially where there is no tangible progress in raising equity.
Who advises on government transactions…
Government’s plan to reverse an initial agreement to transfer 90% of mineral rights held by Buchwa Iron Mining Company to Essar Africa Holdings threatens to scuttle the $750m Ziscosteel deal.
Who advises on government transactions…
Government’s plan to reverse an initial agreement to transfer 90% of mineral rights held by Buchwa Iron Mining Company to Essar Africa Holdings threatens to scuttle the $750m Ziscosteel deal.
Bullish Thoughts can only ask: Who
was the government adviser here or the political scientist/professor was a know
it all and mortgaged Buchwa behind H.E.’s back?
Foot-in-Mouth…
First we take Botswana condemned
cattle and slaughter them at CSC. The same meat has been banned in the
preferential EU market because of fears about the foot & mouth disease.
After risking our healthy, the Zimbabwe-Botswana
Bilateral Investment Promotion and Protection Agreement hangs in balance after
Gaborone demanded non-government participation in the disbursement and
management of the $70m in lines of credit.
The question Bullish Thoughts has
for you is whether this is genuine fear by the Gaborone government that some
people in Harare will line their pockets or its politics at plays?
Bullish Thoughts is confused but his
gut says it’s the capitalist fearing loss of his money. Never mind return on
investment, we are talking return of capital here!
Interesting
transactions on ZSE…
Shareholder reshuffle is now dominant
phenomena on the ZSE with significant
stakes exchanging hands through special bargain trades as shareholders also
restructure their own balance sheets. This month alone there were 4 such trades
in Natfoods (11.7%), TN (1.22%), ABCH (3.42%) and the latest being Pelhams
(35.8%). Word has it that TN probably took Oliver Chidawo’s shareholding in
Pelhams. Bullish Thoughts can’t comment as yet until more info comes but if his
assumptions are correct, Pelhams or Bradlows, are likely to be the high brands
of TN Harlequin.
Just wondering though whose name, the
couches will be named after!
Police Bicycle patrols a social scourge...?
A
colleague put up this FB post:
"I applaud
Delta for donating bicycles to the Police. Which means less public drinking;
which means less sales for Delta beer; which means low profit for Delta; which
means no bicycles for Police next year; which means more public drinking; which
means..."
Invest
Wisely!
**The author of this report does not
hold shares in any of the companies discussed/ mentioned in this report.
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