TransCentury PLC has received its shareholder’s approval to increase the share capital of the Company from KSh 600 Million into one billion two hundred million (1,200,000,000) ordinary shares of KSh 0.50 each.
This will be through the creation of an additional two billion ordinary shares of a par value of KSh 0.50 each.
The shareholders gave the approval in its Annual General Meeting held on 10th June 2021.
The proposed rights issue will be on the basis of 5 new shares for every one ordinary share held, subject to provisions of the Company Act 2015, the firm’s Articles of Association and the CMA regulations.
This will be subject to any required regulatory approvals including but not limited to the Capital Markets Authority.
TransCentury PLC operates three divisions across 14 countries in East, Central, and Southern Africa. TCL operating divisions include; Power Infrastructure, Infrastructure Projects, and Engineering.