Nairobi Business Ventures will delay the release of their 2020 full-year results until 31st August.
The retailer says the delay has been occasioned by its ongoing acquisition process by Delta International FZE.
“This extension will allow NBV to comply with the Capital Markets Authority (CMA) Code of Corporate Governance Practices for Issuers of Securities to the Public (2015),” the firm said.
In July, NBV announced plans to purchase 100 per cent ownership in Delta Automobile, Air Direct, and Aviation Management Solution Limited. It also intends to purchase an 11.33 hectares parcel of land in Machakos County to be used to set up a cement manufacturing facility.
The acquisition is worth Ksh 3 billion.