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KCB GROUP PLC
(Incorporated in Kenya under the Companies Act, 2015) (Registration Number C 9/88)
CIRCULAR TO SHAREHOLDERS
PROPOSED ACQUISITION BY KCB GROUP PLC OF TRUST MERCHANT BANK SA
Regulated by the Central Bank of Kenya
THIS CIRCULAR IS IMPORTANT AND REQUIRES
YOUR IMMEDIATE ATTENTION
If you require any assistance in respect of this Circular, you are advised to seek independent professional advice from your stockbroker, investment adviser, accountant, bank manager, lawyer, or other professional adviser.
This circular (“Circular”) is being issued by KCB Group Plc (“KCB”) and has been prepared in compliance with the requirements of The Capital Markets Act (Chapter 485A of the laws of Kenya), The Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations, 2002 and The Capital Markets (Licensing Requirements) (General) Regulations, 2002.
A copy of this document is available free of charge on the website of KCB at www.kcbgroup.com
The Capital Markets Authority (“CMA”) has approved the issuance of this Circular. As a matter of policy, neither the CMA nor the Nairobi Securities Exchange (“NSE”), assume any responsibility for the correctness of any statements or opinions made or reports contained in this Circular.
Date of issue: 30 August 2022
ADVISERS
Transaction Advisers
Legal Adviser
Financial and Tax Adviser
Deloitte Consulting Limited
Coulson Harney LLP
Ernst & Young LLP
Deloitte Place
Advocates
Kenya-Re Towers
Muthangari, Waiyaki Way
5th Floor, ICEA Lion Centre, West Wing
3 Ragati Close, Upper Hill
P. O. Box 40092 – GPO 00100
Riverside Park, Chiromo
P. O. BOX 44286 – GPO 00100
Nairobi, Kenya.
P. O. Box 10643 – GPO 00100
Nairobi, Kenya.
Nairobi, Kenya.
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CONTENTS
PART 1 DEFINITIONS ………………………………………………………………………………………………………
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PART 2 LETTER FROM THE GROUP CHAIRMAN ……………………………………………………………..
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PART 3 THE TRANSACTION ……………………………………………………………………………………………
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INFORMATION ON THE TRANSACTION …………………………………………………………………….
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BENEFITS OF THE ACQUISITION ……………………………………………………………………………..
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EFFECT OF THE INVESTMENT ON EXISTING KCB SHAREHOLDERS ……………………………
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PART 4 THE ORGANIZATIONS ………………………………………………………………………………………….
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ABOUT THE ORGANIZATIONS …………………………………………………………………………………
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1. KCB GROUP PLC ……………………………………………………………………………………………….
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2. TMB …………………………………………………………………………………………………………………..
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PART 5 STATUTORY AND GENERAL INFORMATION ……………………………………………………….
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1. RESPONSIBILITY STATEMENT …………………………………………………………………………….
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2. DIRECTORS ……………………………………………………………………………………………………….
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3. DIRECTORS’ INTERESTS …………………………………………………………………………………….
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4. SUBSIDIARIES AND ASSOCIATES …………………………………………………………………………
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5. GENERAL INFORMATION …………………………………………………………………………………….
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6. CONSENTS ………………………………………………………………………………………………………..
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7. GOVERNING LAW ……………………………………………………………………………………………….
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8. DOCUMENTS AVAILABLE FOR INSPECTION …………………………………………………………
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PART 6 APPENDIX ……………………………………………………………………………………………………………
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NOTICE OF EXTRAORDINARY GENERAL MEETING ……………………………………………………
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AGENDA ………………………………………………………………………………………………………………. 17
PROXY FORM …………………………………………………………………………………………………………
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ELECTRONIC COMMUNICATIONS PREFERENCE FORM …………………………………………….
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SHAREHOLDER CIRCULAR 2022
PART 1
DEFINITIONS
In this Circular, unless otherwise stated and as the context allows, the words in the first column have the meaning stated opposite them in the second column. Words in the singular include the plural and vice versa, words signifying one gender include the other gender, and references to a person include references to juristic persons and associations of persons:
“Afrissur”
Afrissur SA, a public company limited by shares with registration number
CD/KNG/RCCM/19-B-01070 incorporated on 14 June 2019 under the laws of the DRC and of 10
Boulevard du 30 juin, Gombe, Kinshasa (DRC).
“ARCA”
Autorité de Régulation et de Contrôle des Assurances having its address at 16, Pumbu Street,
Gombe, Kinshasa, DRC, the insurance regulatory authority in DRC.
“Board” or ”
The board of directors of KCB, comprising the persons listed in paragraph 3 of Part 5 of this Circular.
Directors”
“BCC”
Banque Centrale du Congo, the Central Bank of the Democratic Republic of Congo having its
registered address at 563 Boulevard Colonel Tshatshi, BP 2697, Kinshasa, DRC.
“CBK”
The Central Bank of Kenya, a statutory corporation established under the Central Bank of Kenya Act,
Chapter 491 of the laws of Kenya.
“Circular”
This shareholders’ circular dated 30 August 2022.
“CMA”
The Capital Markets Authority of Kenya established under the Capital Markets Act, Chapter 485A of
the laws of Kenya.
“Director”
A director of KCB.
“DRC”
Democratic Republic of Congo.
“EGM” or
The extraordinary general meeting of the shareholders of KCB to be held on 21 September 2022 via
“Extraordinary
electronic communication.
General
Meeting”
“Group”
KCB and its subsidiaries listed in paragraph 4 of Part 5 of this Circular.
“KCB”
KCB Group PLC, a public limited liability company (incorporated in Kenya under registration number
C 9/88), which is listed on the NSE and cross-listed on the Dar es Salaam Stock Exchange, the
Rwanda Stock Exchange and the Uganda Securities Exchange.
“KES”
Kenya Shillings, the lawful currency of the Republic of Kenya.
“NSE”
Nairobi Securities Exchange.
“Transaction”
The proposed acquisition by KCB of TMB as described in this Circular.
“TMB”
Trust Merchant Bank SA, a public company limited by shares (Société Anonyme) (registered as
CD/LSH/RCCM/14-B1624, in the Trade and Credit Register (Registre du Commerce et du Crédit
Mobilier) of Lubumbashi), incorporated in the DRC with its registered address at 1223, Avenue
Lumumba, Commune and City of Lubumbashi, Katanga Province.
“TMB Group”
TMB and Afrissur together.
“USD”
United States Dollars, the lawful currency of the United States of America.
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KCB Group Ltd. published this content on 30 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2022 11:19:09 UTC.

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