TRANSCENTURY INVESTMENT COMPANY PRIVATE PLACEMENT REVEALED :
This deal Values the company @ Kes: 16.95Bn
Trans –Century was incorporated in 1997 as an investment club of a few friends.
TCL’s investments portfolio currently include a majority interest in EA Cables Ltd through the Cables Holding Kenya Ltd., a majority interest in Avery East Africa Ltd., minority interests in Kenya Power and Lighting Company, Equity Bank, Development Bank of Kenya and Rift Valley Railways.
TCL is also an active private equity and venture capital fund investor, participating as a limited partner in the Aureos East Africa Fund, Aureos China Fund, Aureos South Asia Fund, the Helios Investors Fund and the Business Partners International SME Kenya Fund.
TCL also has other minority positions in Nairobi Stock Exchange and the Uganda Securities Exchange.
Private Placement Offer:
The main objective of this offer is to raise additional equity capital to finance TCL’s upcoming investment.
Investment instrument:
New ordinary shares of TCL ranking pari-passau to existing shares.
Number of shares offered:
4,213,500 shares representing 17.7% of the company.
Price:
Ksh.712.00 per share.
Minimum Investment:
The minimum investment per investor is Kes: 335 Million (US$ 5 Million).
The board of TCL reserve the right to accept lower amounts.
Primary offer size:
The total offer size is for 4,213,500 shares representing a percentage of 17.7% in the company at
Kshs. 3 billion (US$ 45 Million) inequity subscription in the company.
Green shoe Option:
The shareholders have made available an additional 421,300 shares should there be an oversubscription in the private placement as a Green Shoe. The total shares offered by the existing shareholders for sale through Green shoe represent 2.1% of their existing shareholding. The existing shareholders will only offer their shares for sale if the primary offer is fully taken up and then only to a maximum of 421,300 shares.
Entitlement to Dividend:
The new shares will be entitled to any dividend that may be declared in respect in respect of the
financial year ending 31 December 2007.
SHAREHOLDERS
Share holder__________ Director__% Shareholding
James Mungai Gachui_______Yes_____8.4%
Peter Tirus Kanyago________Yes____ 7.6%
Michael Gitau Waweru______No______6.3%
Zephaniah Gitau Mbugua____Yes_____6.1%
Edward Njoroge___________No______6.0%
Ndung’u Gathinji___________No______5.9%
Jimnah Mbaru_____________No______5.8%
Ephraim Kareithi Njogu_____ No______5.0%
Stephen N. Waruhiu________No______4.7%
Peter Mbogua_____________No______4.6%
Total Shareholding ______________60.4%
This deal Values the company @ Kes: 16.95BnTrans –Century was incorporated in 1997 as an investment club of a few friends.
TCL’s investments portfolio currently include a majority interest in EA Cables Ltd through the Cables Holding Kenya Ltd., a majority interest in Avery East Africa Ltd., minority interests in Kenya Power and Lighting Company, Equity Bank, Development Bank of Kenya and Rift Valley Railways.
TCL is also an active private equity and venture capital fund investor, participating as a limited partner in the Aureos East Africa Fund, Aureos China Fund, Aureos South Asia Fund, the Helios Investors Fund and the Business Partners International SME Kenya Fund.
TCL also has other minority positions in Nairobi Stock Exchange and the Uganda Securities Exchange.
Private Placement Offer:
The main objective of this offer is to raise additional equity capital to finance TCL’s upcoming investment.
Investment instrument:
New ordinary shares of TCL ranking pari-passau to existing shares.
Number of shares offered:
4,213,500 shares representing 17.7% of the company.
Price:
Ksh.712.00 per share.
Minimum Investment:
The minimum investment per investor is Kes: 335 Million (US$ 5 Million).
The board of TCL reserve the right to accept lower amounts.
Primary offer size:
The total offer size is for 4,213,500 shares representing a percentage of 17.7% in the company at
Kshs. 3 billion (US$ 45 Million) inequity subscription in the company.
Green shoe Option:
The shareholders have made available an additional 421,300 shares should there be an oversubscription in the private placement as a Green Shoe. The total shares offered by the existing shareholders for sale through Green shoe represent 2.1% of their existing shareholding. The existing shareholders will only offer their shares for sale if the primary offer is fully taken up and then only to a maximum of 421,300 shares.
Entitlement to Dividend:
The new shares will be entitled to any dividend that may be declared in respect in respect of the
financial year ending 31 December 2007.
SHAREHOLDERS
Share holder__________ Director__% Shareholding
James Mungai Gachui_______Yes_____8.4%
Peter Tirus Kanyago________Yes____ 7.6%
Michael Gitau Waweru______No______6.3%
Zephaniah Gitau Mbugua____Yes_____6.1%
Edward Njoroge___________No______6.0%
Ndung’u Gathinji___________No______5.9%
Jimnah Mbaru_____________No______5.8%
Ephraim Kareithi Njogu_____ No______5.0%
Stephen N. Waruhiu________No______4.7%
Peter Mbogua_____________No______4.6%
Total Shareholding ______________60.4%
