Britam gets court's nod to shed off Sh5 billion from its share capital to clear losses

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:..

✨ Key Highlights

Britam Holdings plc shareholders have received court approval to reduce the company's share capital reserves to clear accumulated losses. A commercial court in Nairobi sanctioned the move, allowing the company to use a portion of its reserves for this purpose.

Britam will shed Sh5.8 billion from its share capital reserves to offset accumulated losses.
The approval was granted by Justice Benjamin Njoroge of the commercial court.
Neither the Capital Markets Authority (CMA) nor the Nairobi Securities Exchange (NSE) opposed the decision.

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