Undeterred, the shareholders erected a temporary tent from where they held an annual general meeting during which they elected transition board members. Earlier, the company managers had announced the meeting cancelled through a paid-for advertisement. But the shareholders went ahead to convene the meeting, which went on without a hitch as police watched the proceedings from a distance. Vested interestsCounty Assembly Speaker Ndegwa Wahome, who was among the shareholders attending Sunday’s meeting, blamed the company’s woes on vested business interests by a group of individuals. During the meeting, the shareholders directed the new management board to establish whether Sh150 million claimed to have been loaned to the company was reflected in the accounts.

Source: Standard Digital February 26, 2018 09:22 UTC