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GAZETTE NOTICE NO. 6297

THE BANKING ACT

(Cap. 488)

ACT

IT IS notified for information to the general public that pursuant to the provisions of section 9 (1) and (5) of the Banking Act— (a) The Board of Directors of Credit Bank PLC and Shorecap III, GP Limited vide resolutions passed on 23rd June, 2022, and 8th September, 2021, respectively, approved the acquisition of 20 percent of the issued share capital of Credit Bank PLC by Shorecap III, LP as per the Share Subscription Agreement dated 31st May, 2022 and the deed of variation dated 28th March, 2023. (b) The Shareholders of Credit Bank PLC vide resolution passed on 13th December, 2022, approved the acquisition of 20 percent of the issued share capital of Credit Bank PLC by Shorecap III, LP as per the Share Subscription Agreement dated 31st May, 2022 and the deed of variation dated 28th March, 2023. (c) On 28th April, 2023, the Cabinet Secretary for the National Treasury and Planning approved the acquisition of 20 percent of the issued share capital of Credit Bank PLC by Shorecap III, LP. (d) The acquisition shall take effect on 15th June, 2023. Dated the 11th May, 2023. PATRICK NJOROGE, Governor, Central Bank of Kenya. 2192 2192

Dated the 11th May, 2023.

PATRICK NJOROGE,

Governor, Central Bank of Kenya.

Extracted Entities (1)

previous_gazette_ref

6297

Details

Act / Legislation: THE BANKING ACT
Reference: Cap. 488
Section: section 9 (1)
Signed By: PATRICK NJOROGE
Title: Governor, Central Bank of Kenya
Date Signed: 11th May 2023
Page: 5
Extraction Method: regex

Source Gazette

Vol. CXXV No. 116

Published 22nd February 2023