BOC Kenya Plc top 10 shareholders will walk away with millions when Carbacid Limited finally buys the firm.
Ngugi Kiuna, with a total of 1,484,700 shares or owning 7.6% of BOC Kenya, will earn KSh 96.5 Million from the transaction. This is if the case before the Capital Markets Tribunal fails to alter Carbacid’s offer.
Rohin Jayandralal Chandaria & Sujal Rohin Chandaria, with 167,200 shares or 0.86% ownership of BOC Kenya Plc, will get KSh 10.9 Million.
Mrs. Carolyn Anne Gray Rosso, who has 110,143 shares or 0.56% of BOC Kenya, will earn KSh 7,159,295.00 from the takeover deal.
These earnings are based on the BOC Kenya Plc Shareholding Structure as of 20th April 2020 and are calculated at Carbacid’s offer price of KSh 63.5 per share.
Owners of Best Investment Decisions, which controls 276,500 shares or 1.42% of BOC Kenya, will get KSh 17,972,500.00
What BOC Kenya Plc biggest shareholder will earn
BOC Holdings, the majority shareholder at BOC Kenya with 12,765, 582 shares or controlling 65.38% of the listed firm, will earn KSh 829.8 Million.
Saraj Properties Limited, with 252,100 shares or 1.29% control, will be paid KSh 16,386,500.00. Allied Storage Limited will earn a tidy sum of KSh 8,208, 135.00 from the sale of its 126,279 shares or 0.65% of BOC Kenya Plc.
Shareholder/s listed under Standard Chartered Kenya Nominees Limited A/C No Ke002670 controlling 1,046,600 shares or 5.36% of BOC Kenya will earn KSh 68 Million.
Shareholder/s listed as Standard Chartered Kenya Nominees Limited A/C Ke002382 with 121,056 shares or controlling 0.62% of BOC Kenya will be paid KSh 7,868,640.oo.
BOC Kenya shareholder/s listed as Standard Chartered Kenya Nominees Ltd Ac Ke001966 with 117,800 shares or 0.60% shareholding will earn KSh 7,657,00.00 from the acquisition deal.
Available data shows that out of the total authorised and issued number of ordinary shares of 19,525,446, some five foreign companies own 14,051,138 of these shares or 71.96%.
Some 79 local firms own only 4.96% of BOC Kenya or 968,163 shares with a par value of KSh 5 per share.
Only three shareholders at BOC Kenya have more than a million shares, 15,296,882 in total or 78.34% of the firm.
BOC Kenya Plc, formerly BOC Kenya Limited, is engaged in manufacturing and selling industrial gases, medical gases, and welding products.
The Holding Company of BOC Kenya Plc is Linde Plc, an Irish- based multinational firm-created by the merger of Linde AG of Germany and Praxair- founded in 1907 as Linde Air Products Company, USA.
Other companies are related to BOC Kenya Plc through common shareholdings or common Directorships- BOC Group plc, African Oxygen Limited and Cryostar France.
In its annual report, BOC Kenya directors said the pandemic would boost the Group’s medical gases business. On the contrary, the pandemic may increase the demand for medical oxygen from hospitals and other health facilities.
The Government’s measures to contain pandemic may reduce demand for the Company’s industrial gases if economic activity declines, especially in welding and fabrication businesses.