Acquisition of 35% of the issued share capital of I&M Burbidge Capital Limited
PUBLIC ANNOUNCEMENT
l&M Group PLC
(A public limited liability company incorporated in
Kenya under number C.7/50)
The Capital Markets Act (Chapter 485A of the Laws of Kenya)
Capital Markets (Securities) (Public Offers, Listing and Disclosures)
Regulations, 2002 (as amended)
ACQUISITION OF 35% OF THE ISSUED SHARE CAPITAL OF
l&M BURBIDGE CAPITAL LIMITED
Shareholders of l&M Group Pie (the "Company") are advised that the Company has completed the acquisition of the remaining 35% (thirty five percent) shares in l&M Burbidge Capital Limited ("IMBC"), a company incorporated in the Republic of Kenya, following conclusion of all conditions precedent. This transaction was approved by the Company's Board in accordance with the authorisation granted by its shareholders at an Extraordinary General meeting held on 27th June 2016. As a result of this acquisition, IMBC has become a wholly owned subsidiary of the Company.
Brief overview of l&M Burbidge Capital
IMBC is a leading corporate finance advisory firm in East Africa, offering capital raising, mergers & acquisitions and other advisory services to clients across Sub-Saharan Africa.
By order of the Board
Date: 26th May 2022;
Nairobi Kenya
DISCLAIMER: This announcement has been issued with the approval of the Capital Markets Authority pursuant to the Capital Markets (Securities) (Public Offers, listing and Disclosures) Regulations, 2002 as amended. As a matter of policy, the Capital Markets Authority assumes no responsibility for the correctness of the statements appearing in this announcement.