Centum Investment Company to Launch Share Buyback Programme
On February 3rd, 2023 starting at 9:00am sharp, Centum Investment Company will hold an Extraordinary General Meeting (EGM) where they will propose a share buyback programme targeting 66,544,178 ordinary shares with prices ranging between Kes 0.50/share & Kes 9.03/share over 18 months - offering both current & potential investors an opportunity to benefit from increased shareholder value & capital gains if approved by majority vote during its commencement
Jan. 12, 2023 6:01AM
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The Centum Investment Company has announced an Extraordinary General Meeting (EGM) to be held on February 3rd, 2023 starting at 9:00am. At the meeting, the company will present a share buyback programme targeting 66,544,178 ordinary shares at a maximum price of Kes 9.03/share and a minimum price of Kes 0.50/share over 18 months. The proposed share buyback programme is intended to increase shareholder value by reducing the number of outstanding shares in circulation and increasing earnings per share for existing shareholders. This would also provide an opportunity for investors to benefit from capital gains if they choose to sell their shares back to the company at prices higher than what they paid for them originally. Centum Investment Company’s CEO James Mwai expressed his enthusiasm about the proposed programme saying “We are confident that this share buyback programme will be beneficial both for our current shareholders as well as potential investors who may be interested in buying into our company”. He added that “the board is committed to ensuring that all stakeholders benefit from this proposal”. The EGM is open to all shareholders who wish to attend and voice their opinions or concerns regarding the proposed share buyback programme before it is voted on by members of the board. It should be noted that any decisions made during this meeting will not become binding until approved by majority vote of those present at the meeting or by proxy voting prior to its commencement. In conclusion, Centum Investment Company’s upcoming EGM presents an opportunity for shareholders and potential investors alike to benefit from a proposed share buyback programme which could potentially increase shareholder value significantly over time if approved by majority vote during its commencement on February 3rd, 2023 starting at 9:00am sharp.