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Originally published by The Standard Business
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July 31, 2025
1d ago

Court gags faction of wrangling Directline shareholders over shares sale

Court gags faction of wrangling Directline shareholders over shares sale

The High Court has issued fresh orders gagging a section of shareholders of Directline Assurance from publishing information related to the business in the latest fiasco...

✨ Key Highlights

The High Court has issued a gag order preventing a faction of Directline Assurance shareholders from publishing information about the company's shares. This follows claims by Directline Assurance that minority shareholders, led by Samuel Macharia Kamau, warned the public against buying shares, alleging a fraudulent scheme to sell 90 per cent of the company.

  • The gag order by Lady Justice Janet Mulwa remains in effect until a hearing in October, specifically until September 25, 2025.
  • The minority shareholders, primarily Royal Credit Ltd, claim to be the largest majority shareholder and allege a secret sale of Directline Assurance’s shares.
  • These ownership disputes have reportedly caused Directline Assurance’s PSV market share to drop from 61.56 per cent in 2023 to 47.97 per cent in 2024.

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