NIC Certificates; Will the Small Investors' Trade on 1st Day?

The NIC IPO seems to move hand-in-hand with controversy or incompetence as ably demonstrated from the constant delays (most likely deliberate) from both NIC and the Lead Broker MBEA.

Just follow this sequence of events;

Allocation announcement
As per the Prospectus Allocation Results were to be released on 9th March 2010, these were released a few minutes to the close of business on the 9th March 2010 which tranlstes to the 10th of March 2010 and only the State owned media house (NIC holds a sizeable amount of shares in the New Vision Limited) New Vision run this story, WHY?

Refund and Certificate date
The prospectus clearly states Refund and Certificate Collection date as the 18th March 2010, well by close of business on the 19th March 2010 there was no word on the certificates being available at any of the participating brokers or other agents and no official announcement from MBEA for that matter.
WHY?

Was/Is MBEA up to task?
Ofcourse MBEA has smoothly underatken previous IPOs, which raises questions on this NIC!
NIC the company and MBEA ought to be put on spot for their incapability to issue less than 2,500 certificates in a period between 5th February 2010 to the 19th February 2010 that is 40 calendar days, far less in comparison to Uganda's biggest IPO Stanbic Bank which issued over 20,000 certificates in a lesser time period yet with 10 times more certificates issued;
unless there are 'issues'which we shall obviously get to know (The Independent’s Patrick Kagenda in one of his articles hinted on a lead that ought to be uncovered)
NIC and MBEA we are watching your every step, this will not be acceptable to Star Traders’ and all the other smaller investors especially due to your incompetence or ‘shrewdness’, otherwise we propose a suitable trading date be set in regard to the above circumstances.

Monopolistic tendencies
With the benefit of hindsight, this brings to light the exact tactics that were used by Dyer and Blair Kampala brokerage firm during the New Vision Limited’s rights’ issue, which only sophiscated investors realised and that was after it had already happened. Such shall nolonger go on unchallenged!


The catch is here.
On Uganda’s Stock market to sell shares; you present your physical certificate to your broker, who delivers it to the registrar (Deloitte) to verify its authenticity this takes around 3 working days, then your broker can sell.
Fellow Investors if you get your certificate on Monday the 22nd March 2010 you are most likely to miss out on the 1st day trading window slated for the 25th March 2010.
If all stays constant; Guess who will be able to sell, Your guess is as good as Mine.

eatrader@gmail.com