High Court approved Britam's plan to reduce share capital reserves by Sh5.8 billion to offset accumulated losses and strengthen its balance sheet. SOEs:
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A commercial court sitting in Nairobi has allowed Britam Holdings plc shareholders to reduce their share capital reserves from Sh13 billion to offset its Sh5.8 billion accumulated loss.
While agreeing with the private insurer, Justice Benjamin Njoroge said that neither the Capital Markets Authority (CMA) nor the Nairobi Securities Exchange (NSE) opposed the move.
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