TransCentury Delays Release of Full Year 2016 Financial Results

TransCentury Limited (NSE; TCL) has announced that it will delay the release of its financial results for the year ended 31st December 2016.

In a statement, the company said the delay is attributed to the recent (3rd April 2017) conclusion of the 25 percent share sale to New York based Private Equity Fund Kuramo Capital.

“TransCentury wishes to inform the public that there will be a delay in the publishing of the audited Financial statements for the year ended 31st December. The company wishes to assure the public that the finacial statements shall be published not later than 30th June 2017.” The Nairobi Securities Exchange listed firm noted.

In addition, the company also said that it had filed with the Capital Markets Authority (CMA) a notification of late filing and had been granted approval on the same.

Two weeks ago, TransCentury announced the appointment of Kuramo Capital Country CEO Shaka Kariuki  to take over as its New Chairman.

READ; Kuramo Capital CEO Takes Over as New Chairman Of TransCentury 

In the Full Year 2015 results, the company reported a loss of Ksh 2.0 Billion weighed down by Poor performance by its core subsidiary EA Cables.