Ericsson wrote:Ericsson wrote:VituVingiSana wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:https://pbs.twimg.com/me...rmat=jpg&name=large
A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.
B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.
C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.
Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.
Actions speak louder π than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?
It will be measured post transaction when you will see the revenue/income Jubilee will be making.
Jubilee Holdings share price closes at ksh.148.
Now let's wait to see the financial results for FY2022 to better understand why the share price is receiving a beating.
These days the share prices of many firms is divorced from performance. That said, Jubilee, like its sibling, DTB, pays lousy dividends.
I am slowly buying shares in a firm which will likely have higher profits in 2023 (vs 2022) and pay a sweet dividend. The price I am paying today is lower than what it was in 2018 when it made less money!
There are many such examples.
But I am only buying shares that pay dividends.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett