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Kenya: Press Releases: CMA Approves Issue of Bonus Shares by Jubilee Holdings Ltd |
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Tuesday, 05 June 2012 |
Nairobi, 5 June 2012 ---The Capital Markets Authority (CMA) has approved the issue of bonus shares by Jubilee Holdings LTd in accordance with Regulation 11 of the Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations 2002.
The approval will enable the insurance firm to issue and list an additional 5,445,000 ordinary shares of a par value of KES5 each in the ratio of one (1) new ordinary share for every 10 ordinary shares held.
Speaking from her office, the CMA Chief Executive Officer Mrs. Stella Kilonzo observed: ‘CMA has reviewed the disclosures by Jubilee Holdings Ltd and is satisfied that all the requirements have been met in accordance with the Fourth schedule of Capital Markets (Securities) (Public Offers, Listings and Disclosures) 2012.’
A bonus share issue is an offer of free additional shares given to existing shareholders in proportion to their holdings in the company.
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