HomeBusinessMain StoryNational NewsNewsSoul Food

Kenya Orchards Limited changes name

Kenya Orchards Limited (KOL) has changed its name to Africa Mega Agricorps Plc.

The move comes after the firm sold the majority of its shares to a local investor – Africa Mega Agriculture Centre (Amac), thereby living it with minority shares.

“Shareholders of KOL are advised that KOL was on June 14, served a notice of intention by the Amac to acquire up to 10,863,537 ordinary shares in KOL,” the company said in a public notice.

Yesterday the Nairobi Securities Exchange (NSE), in a notice indicates that the change of name was approved by the Capital Market Authority (CMA) pursuant to Regulation 80 (2) of the Capital Markets (Public Offers, Listings and Disclosures) regulations 2023 as well as Regulation 63 of the Capital Markets Licensing Requirements) (General)  Regulations 2002.

KOL transferred 10.8 million of its shares to Amac which was expected to yield about Ksh210 million to the shareholders. The KOL share price stood at Ksh70 on January 28, 2025. It reveals that the transaction accordingly that the shareholders and the public were advised to exercise caution when dealing it KOL shares on the NSE.

See also  Sylvia Mulinge reappointed as director at Safaricom after Tanzania blocks appointment

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
error: Content is protected !!