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Marshalls EA to DELIST
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Pesa Nane
#1 Posted : Tuesday, April 11, 2017 10:27:47 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Cautionary Statement
Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#2 Posted : Tuesday, April 11, 2017 10:30:55 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Key Dates

- Issuance of Cautionary Announcement: Tuesday 11th April 2017

- Latest time to return proxy forms for the AGM: Saturday 6th May 2017 (up to 12 noon)

- AGM: Monday 8th May 2017

- Press Announcement of the outcome of the AGM: Tuesday 9th May 2017
Pesa Nane plans to be shilingi when he grows up.
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  | | Edit by user: Tuesday, April 11, 2017 10:31 AM | Reason: Not specified
Pesa Nane
#3 Posted : Tuesday, April 11, 2017 10:34:22 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Key Dates cont

- Offer period opens for purchase of minority investor shares on a voluntary basis: Wednesday 10th May 2017

- Offer period closes for purchase of shares: Wednesday 7th June 2017

- Press Announcement of the outcome of the share purchase: Monday 12th June 2017

- Delisting: Monday 19th June 2017
Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#4 Posted : Tuesday, April 11, 2017 10:39:13 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Quote:
To all Shareholders of Marshalls (East Africa) Limited

Dear Shareholder,

Proposed Delisting of Marshalls (East Africa) Limited and Proposed offer to buy out minority shareholders

On behalf of the Board of Directors of Marshalls (East Africa) Limited, I write to recommend your consideration and approval for the proposed delisting of Marshalls (East Africa) Limited from the Nairobi Securities Exchange (the NSE) as set out in this Circular. In addition, Global Limited has offered to buy out any minority investor at KSH 10.75 who does not want to remain in an unlisted company. KSH 10.75 represents a twenty five per centum (25%) premium to the six month volume weighted average price of KSH 8.58 as at 30th March 2017.

Marshalls (East Africa) Limited was incorporated on 18 April, 1947 as a motor vehicle dealer. For decades, Marshalls was the lead dealer in Peugeot brands. Currently, Marshalls stocks KIA vehicles.

Over the past few years, Marshalls has experienced a deteriorating business environment due to the influx of second hand cars and increased competition. As a result, Marshalls has declared losses for number years. In order to reposition the business to face these challenges, the Board of Directors has recommended that the Company seek to delist from the NSE.

The Delisting will provide the Company with the flexibility and time to restructure its business without prejudicing shareholders. The Delisting
will also reduce expenses related to maintaining a listing on the NSE.
Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#5 Posted : Tuesday, April 11, 2017 10:42:55 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Quote:
Effect of Delisting
The effect of Delisting on the Company’s various stakeholders is outlined below.

1. Shareholders
If you choose to remain a shareholder, you will continue to hold the same number and type of shares you owned prior to the Delisting. Your rights will remain the same including participation in any future dividends declared by the Company. However, the shares will not be available to
trade on the NSE.

2. Customers
The Delisting will not impact the customers of the Company as the Company will continue to act as a dealer for KIA Motors. The customers will continue to be served as before.

3. Employees
The Company’s employees will not be impacted as the Company intends to continue in the motor business. Hahaha

4. Regulators
After the Delisting, the Company will cease to be regulated by CMA and NSE.

5. Other contractual obligations
The Delisting will not affect existing contractual obligations.
Pesa Nane plans to be shilingi when he grows up.
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Ericsson
#6 Posted : Tuesday, April 11, 2017 10:51:20 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
This is good news.
Some of the low quality firms need to be delisted so that we have only serious companies listed in the bourse
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Pesa Nane
#7 Posted : Tuesday, April 11, 2017 10:54:52 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
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Ebenyo
#8 Posted : Tuesday, April 11, 2017 11:50:05 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
the best option for a minority shareholder here is to accept the offer.Its risky to remain in a company outside CMA regulations .
Towards the goal of financial freedom
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sparkly
#9 Posted : Tuesday, April 11, 2017 11:53:10 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Ericsson wrote:
This is good news.
Some of the low quality firms need to be delisted so that we have only serious companies listed in the bourse


Timing of the delisting is suspect.

Just when GOK is keen on making Kenya the East Africa motor assembly hub and has announced a drop in income tax for new assemblers from 30% to 15%, someone decides to scavenge Marshalls to the exclusion of Wanjiku.
Life is short. Live passionately.
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Fyatu
#10 Posted : Tuesday, April 11, 2017 12:19:20 PM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
How i wish the same could happen to Atlas Africa Industries so that i can get my money back
Dumb money becomes dumb only when it listens to smart money
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