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Equity Bank sets aside 205m shares for staff
Equity Bank Group MD James Mwangi (right) with the bank’s Kenya chief Polycarp Igathe at a past event: Its AGM is planned for April 30. FILE PHOTO | NMG
Tier-One lender Equity Bank #ticker:EQTY has asked its shareholders to approve an employee share ownership plan (Esop) in the next annual general meeting (AGM).
The bank wants to allot its workers 205.7 million ordinary shares which are worth Sh8.6 billion on the basis of yesterday’s price at the Nairobi bourse. The shares are also equivalent to five percent of the issued share capital of the company, but the actual allotment will also be subject to approval by the Capital Markets Authority (CMA).
