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aemathenge
#1 Posted : Tuesday, February 26, 2013 6:16:26 PM
Rank: Elder


Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
I have 300 KCB shares that I bought through Ngenye Kariuki, Kerugoya office sometime back in 2009.

I would like to sell the said shares but I notice that it is under statutory management.

Do I need to go to Nairobi, what documents should I carry with me and how long does it take before I get the proceeds?
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aemathenge
#2 Posted : Wednesday, February 27, 2013 9:42:04 AM
Rank: Elder


Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
I need to sell "some" KCB shares like right now, however, I bought them through Ngenye Kariuki.

I looked up "their" email and sent a request for advice but the email bounced back.

I googled and got the following Press Release to the effect that the company was under statutory management.

https://www.nse.co.ke/me...-release.html?start=160

All parties concerned are requested to give the Statutory Manager up to March 1, 2010 to enable the Statutory Manager familiarize himself with all
aspects of the company prior to forwarding any claims or lodging any requests for transfer of CDS Accounts.

What are the steps I should take to sell the shares, the documents I should carry with me and the office I should visit (I am in Kerugoya) and how long before I get the proceeds.

Impress me people, please.
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aemathenge
#3 Posted : Wednesday, February 27, 2013 9:48:39 AM
Rank: Elder


Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
(CMA) has resolved to revoke the statutory management of Ngenye Kariuki & Company Limited.

Mrs. Stella Kilonzo, the Chief Executive of the Authority said the revocation of the statutory management was positive and that it was geared at facilitating completion of restructuring of the company.

http://www.cma.or.ke/ind...s-center&Itemid=183

Then I get the above. Which is which?
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DtheK
#4 Posted : Wednesday, February 27, 2013 10:48:56 AM
Rank: Member


Joined: 2/15/2010
Posts: 134
Location: Kenya
Why not call up/email CMA? but I think they are suspended so you may have to transfer first,transfers can take months though. chances of selling in the next one month are slim if this is the case.
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berns
#5 Posted : Wednesday, February 27, 2013 7:14:00 PM
Rank: New-farer


Joined: 2/8/2013
Posts: 27
@aemathenge. Dont make the mistake of selling. People did that with Discount Securities and had their money swallowed. Believe me just transfer.
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aemathenge
#6 Posted : Wednesday, February 27, 2013 8:26:07 PM
Rank: Elder


Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
berns wrote:
@aemathenge. Dont make the mistake of selling. People did that with Discount Securities and had their money swallowed. Believe me just transfer.

What are the costs and procedures to transfer to Equity or Coop upcountry?
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