Kasolo show me the money!!!!
I have been informed by my very reliable contacts high up in the company of our giant the ZCCM that there were issues with the purchase of our new offices in Trinity House!!!
My contacts told me that it was proposed by the Kasolo board to the Investment Committee to purchase offices in the Lusaka Trinity Park complex as part of our diversification programme in March 2015.
At this meeting Kasolo's board had already put in their proposal that the purchase would cost around $9 million says my contact. The board claimed that we would get our money back from the purchase in seven years.
My contact says that the investment committee told Kasolo's board to look at other investments AND the ZPPA had the opinions that the cost of $9 million was above the market price and it seems they didnt approve it to pay so much money for the offices. My contacts told me management was supposed to negotiate with the then owners of Trinity Park, Micmar Investments Properties, over the price, which it was told by the ZPPA and investment board.
My very good and close contacts then told me that it was discussed at the board meeting in June 2015 that the ZPPA told Kasolo's board they should not pay $9 million as it was too much. Instead if they had to have Trinity Park they should offer only around $5 million.
They discussed this issue many times more at the board and other company meetings during 2015 is what I am told my my good good contacts.
By the November board meeting the owner of Micmar had agreed to drop price to $8 million and it seems Kasolos board negotiated further down to $7.7 million says my contacts who had to sit and listen to all of the talking about this.
My contacts bring attentions to the interesting notes from the meetings in December 2015 where the price goes up again, finally to around $7.8 million.
I am told by these contacts that then the deal was approved in February 2016.
From these things I am told by my well placed contacts it seems there are some interesting points about the buying of our new office like why did Kasolos board agree at the beginning to pay $9 million if the ZPPA said it was only about $5.1 million?
Even more interesting to think is who changed the mind of ZPPA from saying it had to be $5.1 million to $7 or $8 million and what was the interest of the board to pay so much over the price??? The extra money had to go somewhere don't you think????
My contacts told me that it was proposed by the Kasolo board to the Investment Committee to purchase offices in the Lusaka Trinity Park complex as part of our diversification programme in March 2015.
At this meeting Kasolo's board had already put in their proposal that the purchase would cost around $9 million says my contact. The board claimed that we would get our money back from the purchase in seven years.
My contact says that the investment committee told Kasolo's board to look at other investments AND the ZPPA had the opinions that the cost of $9 million was above the market price and it seems they didnt approve it to pay so much money for the offices. My contacts told me management was supposed to negotiate with the then owners of Trinity Park, Micmar Investments Properties, over the price, which it was told by the ZPPA and investment board.
My very good and close contacts then told me that it was discussed at the board meeting in June 2015 that the ZPPA told Kasolo's board they should not pay $9 million as it was too much. Instead if they had to have Trinity Park they should offer only around $5 million.
They discussed this issue many times more at the board and other company meetings during 2015 is what I am told my my good good contacts.
By the November board meeting the owner of Micmar had agreed to drop price to $8 million and it seems Kasolos board negotiated further down to $7.7 million says my contacts who had to sit and listen to all of the talking about this.
My contacts bring attentions to the interesting notes from the meetings in December 2015 where the price goes up again, finally to around $7.8 million.
I am told by these contacts that then the deal was approved in February 2016.
From these things I am told by my well placed contacts it seems there are some interesting points about the buying of our new office like why did Kasolos board agree at the beginning to pay $9 million if the ZPPA said it was only about $5.1 million?
Even more interesting to think is who changed the mind of ZPPA from saying it had to be $5.1 million to $7 or $8 million and what was the interest of the board to pay so much over the price??? The extra money had to go somewhere don't you think????
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