AUGUST 28, 2017: COMPANY NEWS FROM AND KENYA

NIGERIA:

CONSOLIDATED HALLMARK INSURANCE RIGHTS ISSUE

Consolidated Hallmark Insurance PLC is soon to raise new capital through a Rights issue to shareholders on its register by today August 28, 2017.

According to the acting head Listing Regulations department of the exchange, Mr Godstime Iwenekhai, the company has formally applied to the exchange for approval and listing of the rights.

Under the planned offer, shareholders are to be asked to take 1 new share for each 6 held as at today at par of N0.50 per share.

That, incidentally, was the price of the equity by the close of business last Friday August 25 and indeed, at least in the last one year to Friday.

On that date too 35,000 units were sold while the price earnings ratio stood at 8.41.

Consolidated Hallmark paid final dividend of N0.02 per share last May and went ex-dividend on the same day.

NEW CEO FOR UNITY KAPITAL ASSURANCE

Mr Polycarp O Didam has appointed the new managing director /CEO of Unity Kapital Assurance PLC .

According to company secretary, Halima T Wushishi, he is an associate member of Chartered Insurance Institute of Nigeria, Nigerian Institute of Management and Institute of directors.

He has over 20 years experience at top level in insurance including as CEO of Fin Insurance co Ltd and Guinea Insurance PLC at different times and as group head with AXA Mansard Insurance.

MRS OIL APPOINTS NEW REGISTRAR

MRS Oil PLC has announced a change of registrars from Cardinalstone Registrars to First Registrars and Investors services Ltd.

The current registrars, says company secretary Mrs O M Jafojo have been duly informed and the hand over will be effected within 30 days.

KENYA:

NEW CEO FOR KEN GEN

Ken Gen, the power company quoted on Nairobi securities exchange, has announced the appointment of Mrs Rebecca Miano as acting managing director/CEO with effect from August 26 2017.

This followed the voluntary retirement of Albert Mugo as the CEO from August 25, 2017.

The appointment was announced by the chairman of the board, Mr Joshua Choge adding that Mrs Miano was company secretary and legal affairs director of the company since 2008 before her appointment.

NAIROBI BUSINESS VENTURES BOARD CHANGES.

Major changes have occurred in the board of directors of Nairobi Business Ventures Ltd quoted on Nairobi securities exchange.

According to company secretary, Lawrence Kibet, the changes include the resignation of board chairman Dr Alfred Kithusi and appointment of two new none executive directors: Mr Kumar Harshad and Mrs Alice Mutitu.

Harshad is chartered accountant and management consultant and currently Director of IMCL Kenya Ltd.

He had worked in senior positions in companies like Ramco Group and Lab and Allied.

On the other hand, Mrs Mutitu is a graduate currently undertaking a masters in human resource management.

Currently, she is group human resource manager of Doshi Group of companies had worked Ramco group and Sasini Ltd.

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