Shareholders of WPP ScanGroup will wait longer for settlement of a Sh1.49 billion loan lent to its British parent WPP Plc after the company disclosed it intends to continue deferring repayment of the debt for the foreseeable future.
The loan was one of the issues brought up by minority shareholders of the Nairobi Securities Exchange (NSE) listed firm in their bid to change the company’s board of directors during the June 8 Annual General Meeting. Their efforts however failed after WPP voted its majority 56.26 percent stake—equivalent to 243.1 million shares—against the resolutions.
