The Nairobi Securities Exchange has informed its shareholders of an upcoming virtual 66th Annual General Meeting (AGM) to be held on 9th July 2020.
The meeting is expected to, among other matters, approve payment of a first and final dividend of KSh 0.08 per share, elect directors, approve the remuneration report of the board as well as receive the Chairman’s statement and the CEO’s report.
Shareholders wishing to raise any questions or clarifications concerning the AGM can do so through email or physically deliver the questions at ABSA towers or the Company registrar’s office.
The Nairobi Securities Exchange AGM will be streamed live via a link that will be available to all shareholders registered to participate in the meeting.
Registration for the AGM opens on Thursday 18th June 2020 at 9.00 am and closes on Monday 6th July 2020 at 5.00 pm. NSE is conducting the AGM following receipt of No Objection from the Capital Markets Authority(CMA).
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During the financial year ended 31st December, 2019, the NSE reported a decline in pre-tax profit.
Net earnings also declined by 58% to KSh. 80 Million as compared to KSh. 191 Million recorded over the same period in 2018. This was occasioned by a 9% decrease in revenues.
During the period, the board reviewed NMG’s cost base leading to a one-off restructuring cost of KSh. 52 Million, aimed at lowering the firm’s cost to income ratio as well as enhancing efficiencies across the group.
Listed firms that are scheduled to hold their AGMs in the next few days include BAT (June 24th), Diamond Trust (June 25th), Kenya Airways June( 26th), Total Kenya (June 26th) and Stanbic(June 29th).
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