Updated Thu, June 9th 2016 at 00:00 GMT +3Michael Gitau Waweru and two other directors have been pushed out of the five-member Transcentury board. Dennis Awori, who joined the board last December, will be offering himself for re-election, according to the notice placed by the firm yesterday. It is only Zephaniah Mbugua, the board chairman, who has remained in the company among the original owners. The firm is yet to announce the stake acquired by American Asset Management, Kuramo Capital, whose investment at the time was worth more than the value of TransCentury. Officials of the firm have declined to reveal what stake the American firm was granted before accepting to ink the deal.

Source: Standard Digital June 08, 2016 21:08 UTC