SHARE DRIVE

SHARE DRIVE

SHARE DRIVE

press release

1360_001

Private Placement Application Form 2

Share definition

This is a unit of ownership in a company whose nominal value is contained in the memorandum and articles of association

Shares for a private company are not freely transferable but for a public company are though sometimes with conditions

Kimisitu Investment Company limited

This is a public company which was registered in August,2010 and it has been in operation since then (All public companies in Kenya must have a name ending with PLC and this has been accommodated by our company)

Purpose of the Placement and Rights issue

The purpose of the offer is to enable Kimisitu Investment meet the investment capital requirements necessitated by the strategic plan of constructing residential units for rent/sale that will serve as income generating to the company. This will result to higher returns for the shareholders.

Kimisitu Invest purchase of shares (this can only be done by the following categories)

  • Kimisitu sacco
  • Kimisitu sacco members
  • Kimisitu invest existing shareholders
  • Members of public through joint ownership with qualified potential shareholder

The shares are transferable to the following;

  • Kimisitu sacco
  • Kimisitu sacco members
  • Kimisitu invest shareholders
  • Through transmission by the court to the listed next of kin (s)

Pricing

The Private Placement and Rights Issue of 2,002,682 New Ordinary Shares Fully Paid At An Offer Price of KES 18.25 and KES 16.65 In The Ratio Of 1 New Ordinary Shares For Every 10 Ordinary Shares Held respectively

Reasons to purchase shares of Kimisitu Invest

  • Gain of dividends. Every shareholder is entitled to dividends as at and when they are declared. This is based on the number of shares one has and done on a prorata basis
  • Capital gains. When the company started operations shares were going for KES 10 as the Nominal value. This has increased over the years to the current price of KES 18.25
  • The company has an in-house market which enables a shareholder to dispose of their shares to ready buyers whenever need arises
  • Tax savings. The dividends are exempted from 16% VAT only 5% withholding tax is applied
  • Chance to become a director. For one to be a director, you have to be a shareholder at Kimisitu Invest

How long will the shares sale last

This will take four months running from 1st December, 2018 to 31st March, 2019 (this can only be extended if all the shares are not fully sold out)

TRANSFER OF KIMISITU INVEST SHARES

Procedure

After receiving all the filled share transfer documents the receiving officer should check the following;

  • All the forms have been signed by the seller and the buyer and they should not be dated
  • Copy of ID,PIN and passport sized photographs should be attached for both
  • The commission has been fully paid up by both the buyer and the seller
  • The original share certificate(s) has been attached
  • The buyer must be a member of kimisitu sacco and the relevant form must be signed by sacco
  • The forms which need to be witnessed has been witnessed by the authorized KICL staff
  • The above should be send to the registrar and the auditor for processing
  • Once registrar issues new certificate this need to be sealed and KILC office and issued to the client immediately
  • Once the above has been completed the same need to be communicated to the accounts department for system adjustment of shares

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Compare

Enter your keyword