Nairobi Securities listed agricultural company Sasini Ltd. (NSE: SASN) will now be known as Sasini Plc.
This is in line with its corporate restructurings in its operations as it diversifies from coffee, tea and dairy business to macadamia farming.
In compliance with the new Companies Act (2015) that requires all listed and unlisted public companies’ names to end with ‘Public Limited Company’ (PLC) instead of limited (LTD), the company seeks to change its corporate name to Sasini Plc. from Sasini Ltd.
Sasini also seeks to incorporate as wholly-owned subsidiaries: Sasini Avocado Ltd., Sasini Seed Ltd., Sasini EPZ Park Ltd. and Sasini Nuts EPZ Kenya Ltd..
The company will also dispose its 60 percent shareholding in Savanna Coffee House Limited that runs four restaurants on Nairobi’s Loita Street, Ralph Bunche Road, Muthangari Road and Mombasa Road worth Ksh 70 million.
The company is scheduled to hold its Annual General Meeting (AGM) on 24th March. The company will seek shareholder’s confirmation of the second interim dividend of Ksh 1.25, paid on January 31st 2017.
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