KIMISITU INVESTMENT COMPANY PROGRESS REPORT IST NAIROBI EDUCATION DAY 26 TH JUNE 2010.

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KIMISITU INVESTMENT COMPANY PROGRESS REPORT IST NAIROBI EDUCATION DAY 26 TH JUNE 2010

INTRODUCTION The formation of Kimisitu Investment Company is in response to members’ need in pursuing investments particularly in real estate,through pooling resources with the assistance of the society. The proposal to form Kimisitu Investment Company was passed on 27 th February 2010 during the Annual General Meeting.

MAIN OBJECTIVE OF THE COMPANY The main objects of the investment company will be to pool resources and take advantage of investment opportunities existing in the country with the ultimate goal of creating shareholder wealth. The investment company’s investment portfolio will be well diversified in listed equities, private equity, real estate, fixed income and offshore funds Kimisitu Investment Company Limited will be registered under the Company’s Act as a public limited company.

Priority will be given to investment in real estate given the interest from members. The board of the Investment Company will consider various options to assist members acquire real estate. Members are encouraged to submit proposals for consideration.

THE INVESTMENT COMPANY The Registered Office of the company will be situated in the current Kimisitu Offices along Woodland Road Kilimani. Only members of Kimisitu Sacco Society are eligible to own shares in Kimisitu Investment Company. The Investment Company shall be a different entity from the society and shall be managed independently by a board of directors.

THE INVESTMENT COMPANY The proposed authorized share capital of the company is Kenya Shillings one hundred million (Kshs. 100,000,000/=) divided into ten million (10,000,000) shares of Kenya Shillings ten (Kshs. 10/=) each. The proposed minimum shareholding per shareholder is 1,000 shares worth Kshs 10,000. A share holder can subscribe for as many shares as possible.

NEXT STEPS: Progress made on Registration of Kimisitu Investment Company: A draft memorandum and articles of association has been made and is currently being reviewed. Initial subscribers have subscribed to the shares of the Investment Company. Kimisitu Sacco will initially subscribe to shares worth Kshs 1 million to meet the registration costs of the company. Registration of the Investment Company.

The interim board of directors of the company to recommend date of floatation of shares,when members will be invited to subscribe to shares. THANK YOU.