The company yesterday issued a notice convening an Extraordinary General Meeting (EGM) that is scheduled to take place on November 10, 2023.
At the EGM, the utility firm will seek shareholders’ approval to amend its MAS, specifically the restructuring of the Board of Directors.
“The amendments provide a mechanism for appointing directors in a manner that proportionately reflects the company’s shareholding structure,” KPLC announced in a statement.
Currently, the government holds 50.09 percent of the company’s shares.
In the proposed restructuring, the government, which is the majority shareholder, will appoint five directors, while the remaining shareholders will elect four directors.
“The proposed changes are aligned to the Government’s commitment to transform Kenya Power into a commercially viable entity, by delinking development initiatives, in order to allow the Company to operate on commercial principles,” it added.
Access our platform effortlessly on-the-go through our user-friendly mobile apps.
𝗦𝗲𝗺𝗮𝘀𝗼𝗰𝗶𝗮𝗹 𝗶𝘀 𝘄𝗵𝗲𝗿𝗲 𝗿𝗲𝗮𝗹 𝗽𝗲𝗼𝗽𝗹𝗲 𝗰𝗼𝗻𝗻𝗲𝗰𝘁, 𝗴𝗿𝗼𝘄, 𝗮𝗻𝗱 𝗯𝗲𝗹𝗼𝗻𝗴. We’re more than just a social platform — from jobs and blogs to events and daily chats, we bring people and ideas together in one simple, meaningful space.
