Olympia Capital Holdings Plc has unveiled a bold proposal to increase its authorized share capital tenfold—from KSh 250 million to KSh 2.5 billion—as it positions for long-term growth.
- •The company is seeking shareholder approval to expand its authorized share capital from 50 million to 500 million ordinary shares, each with a nominal value of KSh 5. This move would create 450 million new shares.
- •If passed, the resolution would give Olympia the financial headroom to pursue future fundraising opportunities, including rights issues, strategic investments, and balance sheet optimization.
- •The resolution will be tabled at the company’s 55th Annual General Meeting (AGM) on Friday, August 1, 2025, at 11:00 a.m. EAT.
“That the Authorised Share Capital of the Company be increased from KShs. 250,000,000/- divided into 50,000,000 Ordinary Shares of KShs. 5/- each to KShs. 2,500,000,000/- divided into 500,000,000 Ordinary Shares of KShs. 5/- each,” reads the formal resolution.
The proposal follows a 2023 rights issue, where shareholders were offered three new shares for every one held at a discounted price of KSh 14.00—a 31% markdown. This allowed them to maintain proportional ownership. Unlike that issue, the current plan does not involve an immediate share allotment, meaning there will be no instant dilution. However, shareholders are expected to scrutinize any future issuances closely.
Financial Backdrop
The proposed capital increase comes after a challenging financial year for Olympia. For the year ended 28th February 2025, net profit fell 50% to KSh 17.6 million, compared to KSh 35.2 million in FY2024. Revenue also declined 16.3%, settling at KSh 457.2 million, as regional subsidiaries experienced weaker demand.
Despite the dip in earnings, the company posted a total comprehensive income of KSh 391 million, primarily due to a KSh 366 million revaluation gain on investment properties. Meanwhile, the balance sheet strengthened notably:
- •Total assets rose 33% to KSh 1.92 billion
- •Cash reserves jumped 161% to KSh 106.7 million
- •Revaluation reserve increased to KSh 506.6 million
These metrics reflect a strong asset position, even as core profitability weakened.
Broader AGM Agenda
In addition to the share capital expansion, the AGM will cover several key agenda items:
- •Approval of minutes from the previous AGM held on 29th August 2024
- •Adoption of the FY2025 audited financial statements
- •Approval of directors’ fees for the year
- •Re-election of Mr. Patrick Wamae, who retires by rotation
- •Reappointment of PSK Associates as external auditors
- •Confirmation of audit committee appointments, in line with Section 769 of the Companies Act 2015
