Kenol Kobil shares suspended from trading on Rubis Energie takeover

The Capital Markets Authority of Kenya has issued instructions suspending any trading activity of Kenol Kobil shares at the NSE. The suspension follows the company’s takeover by Rubis energie.

Kenol Kobil investors were expected to take
up the offer by trading their stocks at a premium price of Ksh23 per.

The stock will be suspended from the NSE
until 11^th March. The suspension will enable Rubis energie to
reconcile records and establish how many investors took up the offer. After the
suspension period ends, investors who took up the offer will receive payment.
Subsequently, shares will be transferred from the investors’ CDS accounts to
Rubis energie account.

Rubis Energie is expected to announce the results of the takeover on 12^th March.