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    BAMB   KE0000000059

BAMBURI CEMENT LIMITED

(BAMB)
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Bamburi Cement : changes name to ‘Bamburi Cement PLC' in compliance with the Companies Act 2015

07/30/2021 | 09:19am EDT
  • The change of name was approved by shareholders at its 70th AGM held on 10th June 2021
  • The new name is effective from 26th July 2021
  • Bamburi Cement is listed on the NSE and is the leading cement manufacturing and marketing company in the Eastern Africa region

Bamburi Cement has changed its name from Bamburi Cement Limited to Bamburi Cement PLC, following registration of the new name in line with provisions of the Section 53 of the Companies Act 2015, that requires companies that are both a limited company and a public company to be registered with a name that ends with 'public limited company' or the abbreviation 'plc'.

The change of name was approved by the Company's shareholders during the 70th Annual General Meeting held on 10th June 2021. The new name became effective on 26th July 2021 following issuance of the certificate of change of name by the Registrar of Companies. Bamburi Cement was listed on the Nairobi Securities Exchange (NSE) in 1970, and trades under the Construction and Allied Category, under stock ticker symbol BAMB.

'The change of name applies only to the Bamburi Cement group company name with all market brands remaining unchanged. All contractual relationships and obligations that the company has with its customers, partners and other stakeholders are not affected by this change of name,' said Waeni Ngea, Company Secretary.

Bamburi Cement, which was incorporated in 1951 and began operations in 1954, is a subsidiary of Holcim, the global leader in innovative and sustainable building solutions, which also recently rebranded from LafargeHolcim. The Company's subsidiaries include - Bamburi Special Products Ltd, Lafarge Eco Systems Ltd, Binastore Ltd, and Hima Cement Ltd, a Uganda based cement maker.

Bamburi's other operations are in sustainable waste management, where through its Geocycle brand it partners with different organizations to dispose of their waste at its cement kilns at its plants in Nairobi and Mombasa, through a unique and sustainable industrial process called co-processing.

The Company has over the years maintained its position as the leading cement manufacturing and marketing company in the Eastern Africa region, reinforced by its lineup of high quality application based cement and concrete products.

Ends/…

About Bamburi Cement

Bamburi Cement PLC is a Lafarge company, which is a member of Holcim Group, and is the leading cement manufacturing and marketing Company in the Eastern Africa region, having been operational for 67 years. Its subsidiaries include Hima Cement Ltd (Uganda), Bamburi Special Products Ltd, Lafarge Eco Systems Ltd and Binastore Ltd.

More information is available on Bamburi Cement PLC website www.lafarge.co.ke

About Holcim

Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Holcim is becoming a net zero company, with its people and communities at the heart of its success. The company is driving the circular economy as a world leader in recycling to build more with less. Holcim is the company behind some of the world's most trusted brands in the building sector including ACC, Aggregate Industries, Ambuja Cement, Disensa, Firestone Building Products, Geocycle, Holcim and Lafarge. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.

More information is available on www.holcim.com

Information about the new Group Purpose is available on https://www.holcim.com/about-holcim

Media Contact

Bamburi Cement PLC

Communications Manager

Catherine Ndioo: +​254 20 2893000/ 66114358

catherine.ndioo@lafarge.com

Disclaimer

Bamburi Cement Limited published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 13:18:06 UTC.


© Publicnow 2021
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Sales 2021 344 M - -
Net income 2021 8,31 M - -
Net cash 2021 47,4 M - -
P/E ratio 2021 14,0x
Yield 2021 12,3%
Capitalization 122 M 122 M -
EV / Sales 2021 0,22x
EV / Sales 2022 0,67x
Nbr of Employees 720
Free-Float 38,9%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 0,34 $
Average target price 0,65 $
Spread / Average Target 92,9%
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Managers and Directors
Seddiq Hassani Group Managing Director & Executive Director
Grace A. Oluoch CFO, Group Finance Director & Executive Director
John P. N. Simba Chairman
Waeni Ngea Secretary, Head-Legal & Compliance
Mbuvi Ngunze Independent Non-Executive Director
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