Proposed Acquisition by I&M Holdings PLC of 90% of the issued share capital of Orient Bank Limited, Uganda
CAUTIONARY ANNOUNCEMENT
l&M Holdings Limited
(A public limited liability company incorporated in Kenya under number C.7/50) The
Capital Market Act
Chapter 48SA of the Laws of Kenya
Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations, 2002 (as amended)
Proposed Acquisition by I&M Holdings PLC of 90% of the issued share capital of Orient Bank Limited, Uganda
Shareholders of I&M Holdings Plc (the “Company”) are advised that the Company has on 17th July 2020 entered into an agreement with the shareholders of Orient Bank Limited for the sale and purchase of shares comprising 90% of the issued share capital of Orient Bank Limited (“OBL”), a company incorporated in the Republic of Uganda. Further details of the transaction will be made available to the shareholders of the Company in due course. Completion of the above transaction (the “Proposed Transaction”) is subject to several conditions, including receipt of all regulatory and corporate approvals, including those from the Central Bank of Kenya, the Bank of Uganda, the Capital Markets Authority, and the shareholders of the Company in a general meeting. The Proposed Transaction may have a material effect on the value of the shares of the Company. The shareholders of the Company and the public are accordingly advised to exercise due caution when dealing in the shares of the Company.
BY ORDER OF THE BOARD
17TH JULY 2020, 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.
I&M HOLDINGS PLC is regulated as a non-operating holding company by the Central Bank of Kenya.