Williamson just announced a bonus dividend...but sister company Kapchorua is carrying out a rights issue? Have any of you got any info on this? Kapchorua has run out of cash or what?

Williamson just announced a bonus dividend...but sister company Kapchorua is carrying out a rights issue? Have any of you got any info on this? Kapchorua has run out of cash or what?

Williamson just announced a bonus dividend...but sister company Kapchorua is carrying out a rights issue? Have any of you got any info on this? Kapchorua has run out of cash or what?

Dividends 3-5 Aug but bonus depends on the lazy folks at CMA. Why does it need CMA's approval makes no sense... Dividends don't need their OK so why splits/bonuses?

Sawa. Perhaps the Company Secretary was mistaken that the 'approval' (or vote) by the shareholders has to be sent to the CMA. You should contact him & correct him so that the bonus is credited sooner than later.

NOTICE OF MEETING
NOTICE IS HEREBY GIVEN that the SIXTY SIXTH ANNUAL GENERAL MEETING of the Shareholders will be held at the Nairobi Club, Ngong Road, on Wednesday 15 July 2015 at 10.00 a.m for the following purpose:

Ordinary Business:
1.) To receive and adopt the report of the Directors together with the audited financial statements for the year ended 31 March 2015.
2.) To declare a dividend
3.) To elect Director:
i) In accordance with Article 99 of the Companyís Articles of Association, Mr. Edward C Magor, a Director appointed to fill casual vacancy retires at the dissolution of the meeting 46,844 134,658 and offer himself for re-election.
ii) In accordance with Article 95 of the Companyís Articles of Association, Mr.Mathew Koech, retires by rotation and offers himself for re-election.
4) To approve the remuneration of the Directors.
5) To authorise the Directors to reappoint/ appoint Auditors and agree their remuneration.
6) To transact such other business as may be brought before the meeting.

Special Business:
To consider if thought fit to pass the following resolutions as ordinary resolutions:
I. That the authorised share capital of the company be increased from shillings ninteen million five hundred sixty thousand (shs.19,560,000) divided into three million nine hundred twelve thousand (3,912,000) ordinary shares of shillings five (shs. 5) each to forty eight million nine hundred thousand (shs.48,900,000) divided into nine million seven hundred eighty thousand (9,780,000) ordinary shares of shillings five (shs.5) each by the creation of nine million seven hundred eighty thousand (9,780,000) ordinary shares of shillings five (shs.5) each to rank pari passu with the existing ordinary shares of the company in all respects."
II. That in pursuance to Article 135 of the Company's Artcles of Association and subject to the Shareholders' and Capital Markets Authority''s , it is desirable to capitalise the sum of nineteen million five hundred sixty thousand (shs.19,560,000) being part of the amount outstanding to credit of the revenue reserve of the company and the sum applied in making payment in full at par for three million nine hundred twelve thousand (3,912,000) new shares of shillings five (shs.5) each in the capital of the company,such shares to be distributed as fully paid among persons who were registered as Shareholders of the Company at close of business on a day to be fixed by the Company at a rate of one fully paid for every one ordinary share of the company held by such holders, such fully paid shares to rank pari passu with existing issued shares.

G K MASAKI COMPANY SECRETARY
THURSDAY, JUNE 11, 2015