KCB Group Thursday said it will hold its 49th Annual General Meeting on June 4 by virtual means.
The Board told its shareholders that this was due to the continuing Coronavirus (COVID-19) pandemic and restrictions on public gatherings imposed by the Government.
“…shareholders will not be able to attend the Annual General Meeting in person but will be able to register for, access information pertaining to the Integrated Report and Audited Consolidated Financial Statements of KCB Group Plc for the year ending 31 December 2019, follow the meeting in the manner…and vote electronically or by proxy,” said Joseph Kania, Group Company Secretary.
KCB Group, Kenya’s biggest lender by assets said it has convened and ‘is conducting this virtual annual general meeting following receipt of a No Objection from the Capital Markets Authority (CMA).
This is based on WPP Scangroup’s (NSE:SCAN) Miscellaneous Application that sought leave of the Court under section 280 of the Companies Act, 2015 for Scangroup to hold an extraordinary general meeting (EGM) through electronic means.
The High Court in granting the group’s prayers, allowed listed firms to hold AGMs virtually after issuing the statutory 14-day notice to shareholders on the intended meetings.
Shareholders wishing to attend the virtual AGM are required to register by dialling * 384* 801# on their Safaricom line or 483 801# on Airtel and Telkom lines followed by respective prompts regarding the registration process.
Registration for the virtual AGM opens on Friday 15th May, 2020 at 9.00 am and will close on 1st June, 2020 at 11.00 am. Shareholders will not be able to register after the closure of this registration process.
During the AGM, the shareholders will confirm the interim dividend of Ksh 1.00 per ordinary share paid on 15 November 2019 and declare a final dividend of Ksh 2.50 per ordinary share. The dividend for the full year is Ksh 3.50 per share.
Shareholders will also re-elect their directors who are retiring but offered themselves for re-election: Ms. Georgina Malombe, Mr. Andrew Wambari Kairu and Mr Lawrence Mark Njiru and the appointment of Ms Anne Erickson as Director.
They will also appoint auditors as well as fix their remuneration.