CIC Insurance Group says that it has postponed the annual general meeting (AGM) scheduled for 30 June at 10.00 am with a new date to be announced in due course.
CIC cites new developments being pursued in the business that require shareholders’ approvals within the next three months. Therefore, CIC board resolved to hold the AGM during the third quarter of 2020.
READ ALSO: CIC Group Appoints Patrick Nyaga as its New CEO
The board says this move will enable them to cover all the necessary business and avoid holding another general meeting so soon after the AGM.
In addition, CIC says that they have sought and obtained the approval of the registrar of companies for the extension of time of holding the AGM beyond 30 June 2020.
The board appointed Mr Patrick Nyaga as the Group Chief Executive Officer with effect from 22nd June 2020. Mr Nyaga has been a director on the CIC Board for the past 9 years.
CIC Group handles asset management, general insurance business, and life assurance in Kenya. It also has footprints in South Sudan, Malawi and Uganda, underwriting general insurance and life insurance.
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