The Nairobi Securities Exchange has extended ARM’s suspension from the exchange by nine months. The cement company was placed under administration in August 2018 due to financial challenges. Insolvency experts George Weru and Muniu Thoithi were appointed as the joint administrators of the company.
The extension notice was issued by the Capital Markets Authority in relation to the regulation 22(2) of the capital markets (securities) (public offer, listings, and disclosures) regulations,2002.
The suspension will remain in force until May 2020. All stakeholders including the shareholders, investors and the public are advised to take note of the suspension.
