Qsn No.
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Centum 56th AGM
Questions and management reponses
DATE: 27th September 2023
Question
What does the Company intend to do with the Akira Power plant given that it is taking so much time to get the approvals. Also is there any residual value in Amu Power?
What happened to Amu Power? Was this venture abandoned completely? Is there any hope of recovering the amounts written down back in 2016 - 2019?
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Shareholder Name
RUTERE KEN GITONGA
ANONYMOUS
Category Name
Management Repsonses
In our estimation, there is no residual value in Amu Power and it is fully written off in our books. We are in talks with interested investors in a broader fundraise for the project. Once concluded, Centum will have an opportunity to exit and recover the
Centum is supporting the management team to continue growing the bank and enhance profiatbility. Should we receive a
What are the plans for Sidian bank after the sale fell through? | GATHUKU KEVIN NDUNGU | |
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How is the two rivers important to our survival of our company? | AMWOMA MARY KEMUNTO | |
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WE REQUEST FOR VIPINGO VISIT | KIGOCI AMOS CERERE | |
6 | How much did Two Rivers Land Company Limited (SEZ entity) spend to buy the | |
development rights from Two Rivers Development Limited? Did that include the | ERIC MUSAU | |
land only or some property? | ||
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Can we get a better understanding/explanation for the transfer of the development | ||
rights and how that works towards improving the current financial status of the | RUTERE KEN GITONGA | |
company? | ||
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How is Nabo Capital performing and what is the future of the compant | MWONGELA | |
9 | the government securities treasury bills and bonds are giving attractive interest | |
income,has the company taken advantage of the same to increase income to | ISAAC RUTO | |
shareholders | ||
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What are some of the new strategies being used to survive in this ever changing | ATULO DOCKINS OCHIENG |
economy of Kenya and the globe | |
Portfolio Update
compelling offer in the future we could exit the bank to unclock the value created.
With the gazettement of Two Rivers as a Special Economic Zone, we see huge potential for further growth in value of the business and we are actively engaing potential partners to drive offtake and raise funding to grow the busines under Two Rivers International Finance and Innovation Centre (TRIFIC)
Vipingo is open for a visit at any time and there is always a team on the ground to receive stakeholders who wish to pay a visit. The company has noted the request and will facilitate a visit of Vipingo project.
What was acquired are development rights
The sale of development rights by TRDL enabled it to settle its debts and this has reduced its finance costs significantly. TRIFIC which acquired the development rights is financed by suitably structured debt as well as equity in a capital structure that we believe optimizes the value of the business. TRIFIC SEZ's business focus is to develop commercial real estate for sale.
Nabo Capital is profitable and pays a dividend to Centum. Has significant third Assest Under Management in addition to Centum's portfolio.
We are reducing debt to mitigate against rising interest expense. Nabo Capital, who are our fund managers
At Centum level, we continue to reduce risk by paying down USD debt to minimize macroeconomic exposure to FX and rising interest rates. Measures have been put in place to reduce the operating cost strcuture. Some of our portfolio companies such as Greenblade, TRIFIC and Tribus are exported oriented and largely generating hard currency revenues.
CICP AGM Q&A Report.xlsx
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impact of new taxes on company financials
12 We are now looking at a company that is heavily indebted due to the real estate bets. What is CENTUM doing to get back into manufacturing or any other growth areas e.g. startups.
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Provide the Centum 4.0 report card indicating progress against the set objectives | |
14 | Greetings, 1. why are you changing the Auditors? 2. Amount of loan and interest |
outstanding and dividends to be paid. | |
15 | How much is the dividend payout italipwa lini? |
16 | when to receive divided |
17 | Dividend pay date |
18 | Dividends pay date |
19 | What are the dividend eligibility and payment dates? Why is this not included in |
the AGM notice? | |
20 | WHEN ARE WE GOING TO BE PAID DIVIDENDS, AND AT WHT RATE? |
21 | when is dividend pay out |
22 | Why is the dividends return pay very small? |
23 | why very low divided |
24 | pay divided |
25 | Compliments - Thank you for being customer focused, it has enhanced customers |
satisfaction in running the company. Assessment - exceeding expectations. | |
26 | I REQUEST THE COMPANY TO REVERT TO PHYSICAL ANNUAL GENERAL |
MEETING. SOME SHAREHOLDERS DO NOT HAVE SMART PHONES SO | |
THEY ARE UNABLE TO KNOW THE HAPPENINGS OF THE THEIR COMPANY. | |
27 | how to join meeting? |
28 | ARE WE GOING TO BE GIVEN GIFT PACKS OR DATA BANDLE? AND HOW |
DO WE GET THE GIFTS? | |
29 | when will the physical AGM resume |
30 | when to resume physical AGMs |
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What are we doing for ESG ?
32 Hello...Am Elijah Warui 25years of age ,currently am unemployed..Did Diploma in ICT in Technical University of Kenya 2020...Am energetic and eager to work in your company . Can i get a job in your company .Any kind of job please i dont choose...My email is Ellywarui57@gmail.com . Phone number 0700642449
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KIMANI ELIUD KURIA
OWINO JOSEPH MUGA
SIMON KIMARU
MATIVO ANTONY MAINGI
OTIENO DAVID HENRY
MWATHI MARY MARTHA MUGURE KIRIGO MARIAMU
KIRIGO MARIAMU
GATHUKU KEVIN NDUNGU
AWUOR ODIYO ONYANGO
IRUNGU JANET WACHEKE NJUA MARY WANJIRU NDUNGU DAVID ALFRED KARANJA KARANJA ISABELLA HANNAH NGONYO
KIMOTHO PETER NDIRITU
MURUU REGINA WANGUI
NJERI GRACE WANJIKU
AWUOR ODIYO ONYANGO
MURUU BRIGIT NJOKI
NZAU MARGARET NDUKU
JUMA KEVIN
NGENDO ELIJAH WARUI
Business Strategy
Financial Reporting and Audit
Dividend Payment
Compliments
AGM
ESG
Job Inquiry
In FY2023, we saw an increase in deffered tax liability on account of the adjustment of the Capital Gains Tax from 5% to 15%. We continue to adopt tax optimizing investment structures to mitigate leakages.
Centum is not heavily indebted. Over the strategy period, we have paid down debt by Kes 15.2 billion comprising Principal and interest. These payments were funded from internally generated cash flows.
An update on progress against Centum 4.0 strategy is contained in the Chairperson's report
This is in line with Corporate Governance best practices as recommended by CMA. PwC has served the company for 11 years and it was felt that it was necessary to rotate.
FY2023 dividend per share is Kes 0.60 per share and we have scheduled to pay this on or about 30th November 2023. The book closure date is 11th October 2023.
Management and the board of Centum appreciates the compliments
Online AGM has allowed more shareholders to particpate, including those in areas outside Nairobi and would otherwiese find it challenging to travel and attend a physical AGM
Our ESG report has recently been release and will be available on the website. The report highlights Centums impact on Environmental, Social and Governance matters.
Available openings are published on our website. Please put it an application through the online jobs portal and should your qualifications and experience match any openings in the business, you could be considered for interviews.
33 | What is the future of centum shares | GICHAMBA AMOS NDAIHIRA |
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when will you offer bonus share | KINUTHIA JOHN MUIGAI |
Shareholder Value
We believe that as we continue to grow the Company's fundamental value through the various strategies discussed, the share price will converge to the NAV per share in the medium term. We do not anticpate bonus shares and the immediate focus is to implement the share buyback.
CICP AGM Q&A Report.xlsx
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Centum Investment Company plc published this content on 27 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2023 11:16:06 UTC.