And Chase Bank

NOTICE OF ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the Forty Eighth Annual General Meeting of the Shareholders of National Bank of Kenya Limited (“the Company”) will be held at the Kenyatta International Conference Centre, Tsavo Ballroom, Harambee Avenue, Nairobi, on Friday, 19th May 2017 at 10.00 a.m to transact the following business:

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Special Business:9. Approval of Bonus Issue :- To consider and, if thought fit, to pass the following resolution as a special resolution:a) “THAT subject to receipt of requisite regulatory approvals, the sum of Kenya Shillings one hundred and fifty three million nine hundred and ninety seven thousand five hundred and ninety (KShs153,997,590) being part of the amount standing to the credit of revenue reserves be capitalised and accordingly that such sum be set free for distribution amongst the shareholders of existing ordinary shares in the capital of the Company in the share register as at 19th May 2017, to be allocated on or about 19th June 2017, on the condition that, the same be not paid in cash but applied in paying up in full at par thirty million seven hundred and ninety nine thousand, five hundred and eighteen (30,799,518) of the unissued ordinary shares of KShs5.00 each in the authorized share capital of the company, and that such newly created shares be credited as fully paid up accordingly be allotted to such shareholders in the proportion of one (1) of such new share for every ten (10) of existing issued and paid up three hundred and seven million nine hundred and ninety five thousand one hundred and eighty two (307,995,182) shares then held by such shareholders respectively (fraction of a share to be disregarded), and that, the shares so distributed shall be treated for all purposes as an increase of the nominal amount of the capital of the Company held by each such shareholder and not as income and further that such shares shall rank pari passu for all purposes with the existing shares in the capital of the Company, and the directors be and are hereby authorised and directed to give effect to this resolution”;
and ,
b) THAT should any of the said thirty million seven hundred and ninety nine thousand, five hundred and eighteen (30,799,518) bonus shares not be issued by reason of fractions of a share being disregarded the same be retained as unallocated in the Company’s reserves”.

A bonus? 😂😂😂 Anyway, they have to distract the masses!

Its a laughable move, but all the best to its passengers