[Kenya] CMA suspends Deacons East Africa from trading on the Nairobi Securities Exchange

The Capital Markets Authority (CMA) has suspended Deacons (East Africa) Plc shares from trading at the Nairobi Securities Exchange (NSE), for a period of 40 working days effective 19 November, 2018.

The determination was made in line with Section 22 (2) of the Capital Markets (Securities)(Public Offers, Listing and Disclosure) Regulations, 2001.

The issuer notified the Authority on Friday, 16 November, of its Board’s resolution to voluntarily appoint joint administrators in accordance with Insolvency Act No. 18 of 2015.

Following the notification, the CMA further granted approval for Deacons to publish an announcement of its intention to appoint an administrator pursuant to Regulation 63(7) of the Capital Markets (Licensing Requirements)(General) Regulations, 2002.

www.cma.or.ke