{"id":4806,"date":"2020-03-23T15:53:24","date_gmt":"2020-03-23T15:53:24","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=4806"},"modified":"2020-03-23T15:53:24","modified_gmt":"2020-03-23T15:53:24","slug":"kirubi-set-to-acquire-50-per-cent-shares-of-centum","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/kirubi-set-to-acquire-50-per-cent-shares-of-centum","title":{"rendered":"Kirubi set to acquire 50 per cent shares of Centum"},"content":{"rendered":"

AfricaPress-Kenya:<\/strong> The capital markets regulator on Monday allowed Dr Christopher J Kirubi to acquire up to 49.99 per cent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders.<\/p>\n

The exemption, pursuant to Regulation 5(1) of the Capital Markets Authority (CMA) Takeovers & Mergers Regulations, 2002, will see Kirubi progressively raise his shareholding in Centum from the current 30 per cent threshold in open market transactions.Kirubi sits on the board of Centum as a director and has been a key shareholder of the company for more than 20 years.<\/p>\n

\u201cThis intended additional acquisition is my strong vote of confidence in the future prospects and long-term strategic direction of the company,\u201d Kirubi said in a statement.He added that his target is to acquire the additional shares subject to their availability in the open market.<\/p>\n

The exemption to acquire additional shares without triggering a mandatory takeover offer is in line with the CMA\u2019s policy initiative of encouraging unrestricted demand for shares in publicly listed companies, which helps in price discovery of listed stocks.<\/p>\n

The CMA also aims to enable shareholders to continue to publicly support companies that they are already invested in, while facilitating increased market liquidity.<\/p>\n

\u201cKirubi is a renowned investor with many years of hands-on experience, his additional investment in Centum is an affirmation of his confidence in the company\u2019s progressive performance,\u201d said the Centum Chief Executive Officer Dr. James Mworia in a statement.<\/p>\n

\"\"
Centum CEO Dr. James Mworia\u00a0\u00a0<\/figcaption><\/figure>\n

\u201cThis is also good news for our stock market, especially coming at a time when the Coronavirus pandemic has created uncertainties, it is an indicator that investors with a long term outlook need not hold back from participating in the bourse,\u201d Mworia added.<\/p>\n

The exemption has been granted on the condition that all trading in Centum shares shall continue to be in compliance with all regulatory requirements relating to insider trading.<\/p>\n

Centum is East Africa’s leading investment company, listed on the Nairobi Securities Exchange and Uganda Securities Exchange.The company provides investors with access to a wide portfolio of inaccessible, quality, diversified investments<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: The capital markets regulator on Monday allowed Dr Christopher J Kirubi to acquire up to 49.99 per cent shares of Centum Investment Company PLC, without having to make a mandatory take-over offer to other shareholders. The exemption, pursuant to Regulation 5(1) of the Capital Markets Authority (CMA) Takeovers & Mergers Regulations, 2002, will see […]<\/p>\n","protected":false},"author":84,"featured_media":4807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[2543,2545,2544],"class_list":["post-4806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-capital-markets-authority","tag-centum-shares","tag-chris-kirubi"],"yoast_head":"\nKirubi set to acquire 50 per cent shares of Centum - kenya<\/title>\n<meta name=\"description\" content=\"The capital markets regulator on Monday allowed Dr Christopher J Kirubi to acquire up to 49.99 per cent shares of Centum Investment Company\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/kirubi-set-to-acquire-50-per-cent-shares-of-centum\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kirubi set to acquire 50 per cent shares of Centum\" \/>\n<meta property=\"og:description\" content=\"The capital markets regulator on Monday allowed Dr Christopher J Kirubi to acquire up to 49.99 per cent shares of Centum Investment Company\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/kirubi-set-to-acquire-50-per-cent-shares-of-centum\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-23T15:53:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/03\/kirubi_set_to_acquir5e78c424ed626.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"717\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kirubi-set-to-acquire-50-per-cent-shares-of-centum#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kirubi-set-to-acquire-50-per-cent-shares-of-centum\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Kirubi set to acquire 50 per cent shares of Centum\",\"datePublished\":\"2020-03-23T15:53:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kirubi-set-to-acquire-50-per-cent-shares-of-centum\"},\"wordCount\":358,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kirubi-set-to-acquire-50-per-cent-shares-of-centum#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/03\/kirubi_set_to_acquir5e78c424ed626.jpg\",\"keywords\":[\"Capital Markets Authority\",\"Centum shares\",\"Chris Kirubi\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/kirubi-set-to-acquire-50-per-cent-shares-of-centum#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kirubi-set-to-acquire-50-per-cent-shares-of-centum\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/kirubi-set-to-acquire-50-per-cent-shares-of-centum\",\"name\":\"Kirubi set to acquire 50 per cent shares of Centum - 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