NSE

  • TransCentury Plc’s right issue is set to be reopened following approval from the Capital Markets Authority (CMA) after the initial issue failed to hit a 50 per cent threshold. 
  • Unfortunately, the rights issue performed below expectations, and as a result, CMA has invoked its powers under Section 14 of the Public Offers and Listings Regulations to allow TransCentury to reopen the issue. 
  • The rights’ issue will be open from March 20 -30 this year with additional information provided in the secondary prospectus to be issued by March 17 as the firm seeks  shareholders’ approval to enable the conversion of shareholder loans to ordinary shares as a mode of payment for rights.

TransCentury Plc’s right issue is set to be reopened following approval from the Capital Markets Authority (CMA)  after the initial issue failed to hit a 50 per cent threshold. 

TC shareholders had until January 23, 2023 to take

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  • Kenya’s Athi River Mining Cement PLC administrators have called for a creditors meeting to discuss liquidator’s acts and dealings.
  • The Company was placed under Administration effective 17 August 2018 and subsequently placed in liquidation effective 1 October 2021.
  • Creditors entitled to attend the meeting are entitled to appoint a proxy to attend and ask questions on their behalf.

Kenya’s Athi River Mining Cement PLC administrators have called for a creditors meeting to discuss liquidator’s acts and dealings, and the conduct of the liquidation during the preceding year.

The Company was placed under Administration effective 17 August 2018 and subsequently placed in liquidation effective 1 October 2021.

“Section 413 (1) of the Act provides that, if the liquidation of the Company continues for a period of twelve months or more, the Liquidator shall convene a meeting of the Creditors. In line with the above, notice is therefore hereby given that a

  • Britam Holdings Board of Directors has appointed Lofti Baccouche of Capgemini Invent in the UK as an Independent Non- executive Director. 
  • The appointment is subject to the Insurance Regulatory Authority’s approval amidst a low insurance penetration in the country. 
  • Lotfi is a financial services executive with solid experience in both developed and emerging markets with over 35 years of experience in finance, insurance and risk management.  

Britam Holdings Board of Directors has appointed United Kingdom’s Lofti Baccouche the Vice President – Insurance practice lead in Capgemini Invent in the UK as an Independent Non- executive Director. 

The appointment is subject to the Insurance Regulatory Authority’s approval amidst a low insurance penetration in the country. 

Lotfi is a financial services executive with solid experience in both developed and emerging markets with over 35 years of experience in finance, insurance and risk management. He has wide experience in multiple countries across Africa,

Nairobi Security Exchange’s top share index-NSE 20 shed some 43.09 points or 1.67 per cent to stand at 2543.59 on Friday, even as volumes rose from the previous trading. The index that tracks blue chip companies at the bourse has been on a downward streak in recent weeks, affecting other indices. NSE market turnover for Friday however stood at Ksh332 million (US$3.2 million) from the previous session’s Ksh179 million (US$1.7 million) as the number of shares traded rose to 12.5 million against 9.9 million posted the previous day. Safaricom was the week’s biggest mover.

Equity Group Holdings was the day’s main feature with 2.3 million shares traded

The week’s trading at the Nairobi Securities Exchange (NSE) opened on a modest pace marked by low volumes and value of shares.

The bourse opened the week with a total of seven million shares valued at Ksh219 million (US$2.2 million) against 9.3 million shares valued at Ksh249 million (US$2.5 million) posted on Friday.

The NSE 20 share Index, which tracks blue chip companies, was down 15.38 points to stand at 2899.41.

All Share Index (NASI) shed 0.58 points to settle at 157.33.  Equally, the NSE 25 Share index dropped 8.23 points to settle at 3957.02.

Banking

The banking sector had shares worth Ksh148 million transacted which accounted for 67.76 per cent of the day’s traded value.

Equity Group Holdings was the day’s main feature with 2.3 million shares valued at Ksh100 million changing hands at between Ksh42.75 …

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