Central Bank of Kenya (CBK) deputy governor Sheila M’Mbijiwe is seeking re-election to the board of giant cement maker LafargeHolcim majority-owned Bamburi Cement.
A notice sent to shareholders last week says the CBK senior executive will be seeking new mandate when the company holds its 65th annual general meeting on June 2 in Mombasa.
The 58-year-old senior CBK executive—who also sits on the regulator’s Monetary Policy Committee—was set to retire by rotation but is seeking to retain the seat.
“The 65th Annual General Meeting of the shareholders of Bamburi Cement Limited will be held in Mombasa at the Nyali International Hotel on Thursday June 2, 2016 at 2.30pm,” read the notice.
Others seeking re-election are Daniel Patterson and D. Drouet who are also retiring by rotation but are eligible to seek to be elected again.
The cash-rich company will be holding the AGM to ratify the payment of a dividend of Sh6.00 per share which was paid on October 30 last year.
The meeting will also be seeking to declare a final dividend of Sh7.00 per share for the year ending last December and increase the directors’ fees.
The company made Sh5.9 billion in net profit last year, up from Sh3.9 billion the previous year – a 51.2 per cent growth.
The turnover rose by nine per cent to Sh39.2 billion driven by increased demand in the key domestic markets in Kenya and Uganda.
The demand came from large infrastructure projects as the domestic market experienced a slowdown in the last three months of last year.
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