Centum Investment Company PLC is embarking on a transformative path following key decisions approved by shareholders at a recent general meeting.
These resolutions are poised to strengthen the company’s financial standing and expand its investment footprint, underscoring Centum’s role as a leader in Kenya’s investment sector.
Highlights of Approved Resolutions
- Formation of Two Rivers Land Company (SEZ) Limited
Centum shareholders approved the establishment of Two Rivers Land Company (SEZ) Limited as a new subsidiary. This move enhances Centum’s real estate ventures, especially within Kenya’s special economic zones (SEZs), where promising growth opportunities await. - Increased Stake in Akiira Geothermal Limited
Centum has acquired an additional 37.5% in Akiira Geothermal Limited, now making it a subsidiary. This significant acquisition strengthens Centum’s renewable energy portfolio, allowing for a larger role in Kenya’s geothermal energy sector. - Partial Divestment in Sidian Bank Limited
In a strategic divestment, shareholders agreed to reduce Centum’s holding in Sidian Bank, retaining a 20% stake. This decision will streamline Centum’s banking investments while allowing for future growth in this area. - Share Buyback Program
Shareholders approved a share buyback plan, permitting Centum to repurchase up to 65,559,241 shares—10% of the issued share capital—within a price range of KES 0.50 to KES 9.51 per share over an 18-month period. This initiative aims to enhance shareholder value and optimize the company’s capital structure. - Re-allotment of Repurchased Shares
To support the buyback program, directors were granted authority to re-allot purchased shares, valid for up to five years. This flexibility ensures adaptability in future capital management.
These strategic moves reflect Centum’s commitment to strengthening its diversified portfolio. The company’s expansions in energy and real estate, restructured banking interests, and shareholder-focused initiatives underscore its readiness for sustainable growth.
Additionally, shareholders can expect a dividend of KES 0.32 per share, payable around December 13, 2024, reflecting Centum’s robust performance in the fiscal year ending March 31, 2024.
As Centum continues to diversify and innovate, it remains a symbol of financial leadership and growth in Kenya’s corporate landscape.
