Greenview Oil Trading Corp acquired a 24.9 per cent holding in Kenya Pipeline Company (KPC) on the secondary market, giving it the entitlement to nominate a director at the upcoming annual general meeting.

The notice dated November 11, which sets the agenda for the AGM on December 2, lists a vote on board changes, a dividend of KSh0.32 per share and the appointment of a new auditor, but it does not disclose Greenview’s owners or its nominee.

In October, Nigeria’s Aliko Dangote confirmed that he purchased roughly a quarter of KPC in a KSh42.5 billion block sale from state-backed institutions, and Greenview’s purchase follows the sale of those same shares that were bought in KPC’s initial public offering.

KPC joined the Nairobi Securities Exchange in March 2026, raising KSh106.3 billion in the IPO.

The National Social Security Fund (NSSF) lost its right to nominate a director after its representative Ronald Nyamosi ceased to be a KPC director, with KPC stating that the pension fund is no longer the largest institutional investor and therefore no longer qualifies under Article 24(7) of the company’s articles; regulatory filings in August had shown the NSSF holding 22.2 per cent after the IPO, and the current stake was not disclosed.

Five directors – Joyce Emanikor, Mutungwa Wambua, Christopher Karani, Martha Miano and Irene Wachira – are set to retire at the AGM, and the board has appointed all five to fill casual vacancies, although the notice does not indicate whether any will stand again.

Three Treasury appointees – Faith Bett-Boinett, Samson Kipkemboi Burgei and Meshack Kidenda – and two Ugandan government appointees – Ramathan Ggoobi and Irene Pauline Bateebe – will remain on the board, exempt from rotation under Article 25(1) at the first AGM since listing.

Shareholders will also elect independent non-executive directors and members of the Board Audit and Risk Committee, with KPC promising to publish the candidates’ names and profiles on its AGM portal before the meeting.

The dividend proposal amounts to KSh5,790,963,417, or KSh0.32 per share, representing 50 per cent of profit after tax for the year ended June 30, 2026; a holder of 10,000 shares would receive KSh3,200, and the payment is scheduled for on or about January 8, 2027 to shareholders on the register at the close of business on November 30, a figure that is KSh109.04 million lower than the KSh5.90 billion announced in October, with no explanation provided.

KPC reported a 13.1 per cent rise in net profit to KSh11.58 billion and an 8.8 per cent increase in revenue to KSh42.98 billion for the year ended June 2026.

Shareholders will vote to appoint KPMG Kenya as auditor in place of the Office of the Auditor General, whose term expires at the close of the AGM; KPMG would serve until the next AGM and its fees would be set by the directors, while a separate vote will cover the directors’ remuneration report and policy.

The register for the dividend closes on November 30, two days before the 9:00 am AGM on December 2, which will be conducted by electronic communication, and the names of the independent director and audit committee candidates will be posted on the AGM portal beforehand.