Greenview Oil Trading Corp. bought 24.9% of Kenya Pipeline Company on the secondary market and can now nominate a director to the KPC board.
Shareholders vote on the board changes, a KSh0.32 per share dividend and an auditor change at the AGM on December 2. The notice, dated November 11, names neither Greenview’s owners nor its nominee.
Nigeria’s Aliko Dangote confirmed in October that he bought about 25% of KPC in a KSh42.50 billion block sale by state backed institutions.
Greenview can nominate a director to the KPC board
KPC told shareholders that Greenview’s purchase entitles it to a board seat. The company gave no timetable for the nomination, and the AGM agenda lists no Greenview nominee.
The 24.9% stake follows the sale of shares that state backed institutions bought in KPC’s initial public offering (IPO). KPC joined the Nairobi Securities Exchange in March 2026, and the offer raised KSh106.3 billion.
NSSF loses its board nomination right
Ronald Nyamosi, the National Social Security Fund (NSSF) nominee, has ceased to be a KPC director. KPC said NSSF is no longer its largest institutional investor, so it loses the right to nominate a director under Article 24(7) of the company’s Articles of Association.
Regulatory filings reported in August put the pension fund’s stake at 22.2% after the IPO. The notice does not give NSSF’s current holding.
Five directors retire at the AGM
Joyce Emanikor, Mutungwa Wambua, Christopher Karani, Martha Miano and Irene Wachira retire when the AGM ends. The board appointed all five to fill casual vacancies. The notice does not say whether any will stand again.
Three Treasury appointees and two Ugandan government appointees stay on. They are Faith Bett-Boinett, Samson Kipkemboi Burgei and Meshack Kidenda for the Cabinet Secretary to the National Treasury, and Ramathan Ggoobi and Irene Pauline Bateebe for the Government of Uganda. KPC said Article 25(1) exempts them from retirement by rotation at the first AGM since listing.
Shareholders will also appoint independent non executive directors and members of the Board Audit and Risk Committee. KPC said it will post their names and profiles on its AGM portal before the meeting.
Shareholders vote on a KSh0.32 dividend
The board seeks approval for a first and final dividend of KSh5,790,963,417, or KSh0.32 per share. That equals 50% of profit after tax for the year ended June 30, 2026. A holder of 10,000 shares would receive KSh3,200 at that rate.
On the KSh9 IPO price, KPC shares opened trading at KSh9.10. KSh0.32 equals about 3.6% of the IPO price. KPC will pay on or about January 8, 2027 to shareholders on the register at the close of business on November 30.
The AGM figure sits KSh109.04 million below the KSh5.90 billion KPC announced in October. The notice does not explain the gap. KPC’s net profit rose 13.1% to KSh11.58 billion in the year ended June 2026, and revenue rose 8.8% to KSh42.98 billion.
KPMG Kenya replaces the Auditor General
Shareholders vote on appointing KPMG Kenya as auditor in place of the Office of the Auditor General. The Auditor General’s term expires when the AGM ends. KPMG would serve until the next AGM, and shareholders will also authorise directors to set its fees.
They will also vote on the directors’ remuneration report and policy.
Next fact to watch
The register closes for the dividend on November 30, two days before the 9:00 am AGM on December 2. KPC holds the meeting by electronic communication and plans to publish the names of the independent director and audit committee candidates on its AGM portal before then.
