Transcentury PLC announces that it has commenced delisting from the Nairobi Securities Exchange subject to regulatory and shareholder approval. The move will see all issued shares of the company comprising 375,202,766 shares of a par value of Ksh0.50, each delisted from the NSE.
In a notice, Transcentury says that the delisting is in line with ongoing strategic initiatives by the company. The shareholders are to vote on the delisting in an extraordinary general meeting (EGM) held electronically on Thursday, 30 July, at 10.00 am.
Therefore, the firm urges the public to exercise caution when dealing with the Trancentury shares as they will be delisted from the official list of the Alternative Investment Market Segment of the NSE.
In early June, Transcentury said that it would delay releasing its audited financial statements for the year ended 31 December 2019, blaming the incomplete audit of its subsidiary, East African Cables PLC.
Transcentury is an infrastructure company with three operating divisions across 14 countries in East, Central, and Southern Africa. The operating divisions are;
- Power infrastructure; Manufacture of Electrical Cables, Conductors, Transformers and Switchgear
- Infrastructural projects; Critical Energy and Transport Infrastructure to Support Key Pillars of the Domestic and Export Economy
- Engineering; Provision of mechanical engineering, civil engineering, transport & logistics, and craneage & erection services