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THE STANDARD BUSINESS Crown Paints Group Vice-Chairman Hussein Ramji attend the virtual 63rd annual general meeting. Crown Paints Plc will use the Sh711.80 million being raised via the rights issue to salvage its subsidiaries in Uganda, Rwanda and Tanzania, which the paint and coating firm revealed are struggling with debt. Just a year after the company wrote off Sh653 million it had invested in its subsidiaries in Uganda and Tanzania, the Nairobi Security Exchange (NSE) listed firm has now turned to its shareholders for more capital. The company did write off Sh374 million for Crown Paints Tanzania and Sh278 million for Regal Paints, its Uganda subsidiary. The rights issue will see shareholders of the company allowed to purchase additional shares. ....
Article by Adam Duckett UNILEVER, Croda and Crown Paints have joined a taskforce convened by the Royal Society of Chemistry (RSC) to help recycle polymers in liquid formulations (PLFs) – a waste stream measured in millions of tonnes. PLFs are used as thickeners, emulsifiers and coatings and have a wide range of applications including ingredients in household cleaning and personal care products to industrial applications including lubricants and wastewater treatment. They also include a wide range of polymer types within the categories of acrylic, epoxy resins, polyesters, polysilicones, and polyurethanes. The RSC says there are few ways to recycle PLFs and more than 36m t/y are not recovered. ....
Aidy Bryant, Kristen Stewart and Beck Bennett in the Saturday Night Live sketch referencing Farrow & Ball The plug was not a case of paid-for product placement, but it led to a big spike in interest. But despite the growth in sales, FB Ammonite still posted a pre-tax loss of £26.9m – which it said reflects how the business is structured and financed rather than being illustrative of performance . The company has been owned since 2014 by a Los Angeles-based private equity fund. The Private Equity Group of Ares Management bought it from another investment fund, European Capital Limited. Now Ares Management is in turn selling it to a buyer who is confident in the Dorset company’s potential for growth. ....
THE STANDARD NEWS NAIROBI, KENYA: Shareholders of Kenya Reinsurance and ScanGroup will have to wait longer to know the financial health of the firms, which have announced they will delay the release of last year s results. The firms were expected to announce the financials by the end of last month as per the Capital Markets Authority regulations. In newspaper notices, both Kenya Reinsurance and Scangroup, say they will release the results by end of May. The firms join Crown Paints, which also alerted shareholders and investors to expect the results before June 15 of this year. Kenya-Re’s Company Secretary Charles Kariuki attributed the delay to a change in actuarial valuation methodology, in respect to unearned premium reserves and claims reserves to an approach recommended by the Insurance Regulatory Authority. ....