Khusoko – East African Markets
    Facebook Twitter Instagram
    Khusoko – East African MarketsKhusoko – East African Markets
    • NEWS
    • ECONOMY
      • BANKING & FINANCE
      • COMPANY
      • MARKETS
    • INDUSTRY
      • AGRICULTURE & ENVIRONMENT
      • HEALTH & WELLNESS
      • PROPERTY
        • RETAIL
      • TECHNOLOGY
        • ELECTRONICS
    • ENTREPRENEURSHIP
      • ENTREPRENEURS
      • PEOPLE
      • PERSONAL FINANCE
    • SPORTS
    • COMMENTARY
    • ARTS & CULTURE
      • BOOKS
      • ENTERTAINMENT
      • FAMILY & RELATIONSHIPS
      • FASHION & STYLE
      • FOOD & DRINK
      • TRAVEL & LEISURE
    Khusoko – East African Markets
    NEWS

    WPP Scangroup Shareholders Approve the Sale of Kantar Business in Africa

    KhusokoBy Khusoko2020-05-291 Comment1 Min Read
    WPP Scangroup forecast weaker earnings for its full-year financial results on Thursday as it posted Ksh 31 million profit for its six months ended 30 June 2021 compared to a loss of Ksh 532 million in the prior period.

    WPP Scangroup Shareholders have approved the sale of Scangroup’s shareholding in Kantar Business in Africa in a virtual AGM held Wednesday.

    According to the results of the voting on the resolution, 99.98 percent (380, 182, 929) of the shareholders cast in favour of the resolution that sale of its business in Africa which includes 100 percent of its shareholding in Millward Brown’s Nigeria, West Africa, and East African business and its 80 percent shareholding in Research and Marketing Group Investment Limited.

    62,724 of the cast votes representing 0.02 percent of the shareholders were against the resolution.

    “…the resolution was therefore approved,” said the Board of Directors.

    The poll was conducted by Image Registrars and Scrutineered by PwC. 

    The sale is projected to realize KSh 5 billion after estimated tax and costs. Funds raised from the sale will be used in expansion and capital needs with 40 percent of the proceeds being paid out as a special dividend to shareholders.

    Kantar Business WPP-Scangroup
    Khusoko
    Khusoko

    Multimedia platform providing analysis of business & financial news in East Africa.

    Related Posts

    Why Researchers Root for International Collaboration For Africa’s Development

    2023-06-05

    AAR Insurance Joins the United Nations Global Compact

    2023-06-04

    Pesapal Unveils Real-Time Payments Settlement In Kenya

    2023-06-01

    Leave A Reply Cancel Reply

    Our Language is Flirty
    https://www.facebook.com/flirtynailsparlour/
    MORE TOP STORIES
    • How to Encourage Youth Participation in Agriculture for Climate Action
    • Why Researchers Root for International Collaboration For Africa’s Development
    • Discover: Trace Awards & Festival to Light Up Kigali in October
    • WED 2023: Kenya’s Step Towards Eliminating Plastic Pollution
    • Somalia Application to Join East Africa Community Bloc Accepted
    • Facebook
    • Twitter
    • LinkedIn
    Facebook Twitter LinkedIn
    • ABOUT US – KHUSOKO
    • PRIVACY POLICY
    • KHUSOKO STANDARDS GUIDE
    © 2023 Khusoko. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.