KIMISITU INVESTMENT
COMPANY PROGRESS REPORT
IST NAIROBI EDUCATION DAY
26TH JUNE 2010
INTRODUCTION
• The formation of Kimisitu Investment
Company is in response to members’ need in
pursuing investments particularly in real
estate ,through pooling resources with the
assistance of the society.
• The proposal to form Kimisitu Investment
Company was passed on 27th February 2010
during the Annual General Meeting.
MAIN OBJECTIVE OF THE COMPANY
• The main objects of the investment company will be
to pool resources and take advantage of investment
opportunities existing in the country with the
ultimate goal of creating shareholder wealth. The
investment company’s investment portfolio will be
well diversified in listed equities, private equity, real
estate, fixed income and offshore funds
• Kimisitu Investment Company Limited will be
registered under the Company’s Act as a public
limited company.
Priority will be given to investment
in real estate given the interest from
members.
The board of the Investment
Company will consider various
options to assist members acquire
real estate .
Members are encouraged to submit
proposals for consideration.
THE INVESTMENT COMPANY
• The Registered Office of the company will be
situated in the current Kimisitu Offices along
Woodland Road Kilimani.
• Only members of Kimisitu Sacco Society are
eligible to own shares in Kimisitu Investment
Company.
• The Investment Company shall be a different
entity from the society and shall be managed
independently by a board of directors.
THE INVESTMENT COMPANY
• The proposed authorized share capital of the
company is Kenya Shillings one hundred
million (Kshs. 100,000,000/=) divided into ten
million (10,000,000) shares of Kenya Shillings
ten (Kshs. 10/=) each.
• The proposed minimum shareholding per
shareholder is 1,000 shares worth Kshs
10,000. A share holder can subscribe for as
many shares as possible.
NEXT STEPS:
Progress made on Registration of Kimisitu Investment Company:
• A draft memorandum and articles of association has been
made and is currently being reviewed .
•
Initial subscribers have subscribed to the shares of the
Investment Company.
•
Kimisitu Sacco will initially subscribe to shares worth Kshs 1
million to meet the registration costs of the company.
• Registration of the Investment Company.
• The interim board of directors of the company
to recommend date of floatation of shares
,when members will be invited to subscribe to
shares.
THANK YOU.