In re EABL International Limited [2018] KEHC 929 (KLR)

REPUBIC OF KENYA

IN THE HIGH COURT OF KENYA AT NAIROBI

MILIMANI COMMERCIAL & TAX DIVISION

MISC. APPLICATION NO. E91 OF 2018

IN THE MATTER OF EABL INTERNATIONAL LIMITED

AND

IN THE MATTER OF THE COMPANIES ACT, NO. 17 OF 2015

AND

IN THE MATTER OF AN APPLICATION FOR CONFIRMATION OF REDUCTION OF THE CAPITAL OF EABL INTERNATIONAL LIMITED

JUDGMENT

1. Before me is an Originating Motion dated 2nd October 2018. It is brought by EABL International Limited (The Company). The Company seeks approval, of this court, of a special resolution passed by shareholders on 24th September 2018 of the company, by which the company resolved to reduce its share capital.

2. Prior to the hearing of the Originating Motion the court granted leave to the company to issue notice of the filing of this motion, by way of publication in a newspaper with nationwide circulation. That publication was made on the Nation Newspaper of 12th October 2018.

3. Since no objection has so far been raised to that reduction this court shall allow the reduction of the share capital as follows:

Current Amount Amount proposed to be cancelled and extinguished Amount after reduction of capital

Issued share capital Ksh.70,032,220 Ksh.70,022,220 Ksh.10,000

Share premium Ksh.2,335,350,000 Ksh.2,335,350,000 Nil

Total Ksh.2,405,382,220 Ksh.2,405,372,220 Ksh.10,000

4. There shall be no orders as to costs to the motion.  Orders accordingly.

DATED, SIGNED and DELIVERED at NAIROBI this 29th day of November, 2018.

MARY KASANGO

JUDGE

Judgment read and delivered in open court in the presence of:

Court Assistant....................Sophie

........................................... for Applicant

MARY KASANGO

JUDGE