Athi River Mining Cement to Meet With Investors  Sept 12

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ARM Cement Athi River Plant

Athi River Mining Cement plc, which is in the process of being liquidated, has scheduled a shareholder meeting for September.

“Notice is hereby given that the general meeting of the ARM PLC (in liquidation) will be held by electronic means on Monday, September 12,” the firm’s appointed registrar, CompriteKenya Limited, said in a public notice.

ARM Cement was placed under administration in August 2018. Its shares are suspended from the Nairobi Securities Exchange (NSE).

The administrators completed the sale of all cement and non-cement assets and the business of ARM Cement Plc in Kenya to National Cement Company Ltd, which the Devki group of companies owns at $50 million (KSh5.64 billion).

In Tanzania, ARM completed the sale of all the shares it held in Maweni Limestone Ltd, its primary subsidiary, to Huaxin Cement Co. Ltd through its subsidiaries Huaxin (Hong Kong) International Holdings Ltd and Huaxin (Tanzania) Investment Ltd for $116 million.


 

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