Contents - Kenya Airways

Kenya Airways
ANNUAL REPORT
& Accounts 2008/09
ANNUAL REPORT
& Accounts 2008/09
Kenya Airways
Corporate Governance (contd)
Shareholding as at 31st March 2009
subject to proper physical controls and that the organization remains
at any time during the year was there any arrangement to which the
SUMMARY OF SHARE HOLDERS
structured to ensure appropriate segregation of duties. In reviewing
the effectiveness of the systems of internal control, the Board takes
into account the results of all the work carried out to audit and review
the activities of the Group. A comprehensive management accounting
system is in place providing financial and operational performance
measurement indicators. Weekly meetings are held by executive
management to monitor performance and to agree on measures for
company is a party, whereby Directors might acquire benefits by means
of transactions in the company’s shares.
There were no Directors’ loans at any time during the year. Directors’
interests in the shares of the company, the distribution of the company’s
shareholding and analysis of the ten largest shareholders as at 30th
March 2009 were as follows:-
CATEGORY NO. OF SHAREHOLDERS SHARES % OF SHARES ISSUED
Foreign Institutions 39 152,888,877 33.12%
Foreign Individuals 482 3,243,803 0.70%
Local Institutions 3,665 189,970,884 41.15%
Local Individuals 72,517 115,511,919 25.02%
TOTAL 76,703 461,615,483 100.00%
improvement.
NBO The Hub of Africa
Code of Ethics
The airline is committed to the highest standards of integrity, behaviour
and ethics in dealing with all its stakeholders. A formal code of ethics
has been approved by the Board and is fully implemented to guide
management, employees and stakeholders on acceptable behaviour
in conducting business. All employees of the airline are expected
to avoid activities and financial interests that could clash with their
responsibilities to the airline.
Communication with Shareholders
The company is committed to ensuring that shareholders and the
financial markets are provided with full and timely information about
its performance. This is achieved by the distribution of the company’s
annual report, the release of notices in the press of its half yearly and
annual results, and quarterly disclosures of operating statistics to the
stock markets and capital markets authorities. There is also a minimum
of two investor briefings per annum for institutional investors.
Periodically there are press releases announcing other major company
Directors’ Interests
Name of Director
Number of Shares
Permanent Secretary to the Treasury 106,171,561
Evanson Mwaniki 10,090
Ayisi Makatiani 5,700
Dinesh Kapila 4,036
LARGEST 10 SHAREHOLDERS AS AT 31st March 2009
Account Number Name Total Shares % of Issued shares
500002 KLM-Konink Lijke Luchtvaart Maatschappj 120,020,026 26.00%
500001 Permanent Secretary To The Treasury 106,171,561 23.00%
5544157 Stanbic Nominees Kenya Ltd A\C NR70001 11,525,200 2.50%
120812 Mansukhlal Khetshi Shah 6,515,378 1.41%
855723 Barclays (Kenya) Nominees Limited a/c 9318 4,715,917 1.02%
604 Paul Wanderi Ndungu 4,356,544 0.94%
133914 Apa Insurance Limited 4,055,592 0.88%
12068 Kenya Commercial Bank Nominees Ltd A\C 769G 3,554,300 0.77%
380881 Khetshi Dharamshi And Company 3,289,371 0.71%
64327 Stanbic Nominees Kenya Ltd A\C NR13001 3,000,000 0.65%
SUBTOTAL 267,203,889 57.88%
OTHER SHARES - 76,693 194,411,594 42.12%
SHARES ISSUED 461,615,483 100.00%
TOTAL SHAREHOLDERS 76,703
NBO The Hub of Africa
developments which could be considered price sensitive information.
In this regard, the company also complies with the continuing listing
DISTRIBUTION OF SHAREHOLDERS
obligations of the Capital Markets Authorities and Stock Exchanges
applicable in Kenya, Uganda and Tanzania.
SHARES No. of Shareholders Number of shares % of Issued Capital
Less than 500 35,733 14,499,072 3.14%
Directors Emoluments and loans
The aggregate amount of emoluments paid to Directors for services
rendered during the financial year 2008/09 are disclosed in the notes
to the financial statements. Neither at the end of the financial year, nor
501 - 5,000 38,049 51,954,539 11.25%
5,001 - 10,000 1,396 10,333,933 2.24%
10,001 - 100,000 1,311 36,135,877 7.83%
100,001 - 1,000,000 189 56,098,029 12.15%
Above 1,000,000 25 292,594,033 63.38%
TOTALS 76,703 461,615,483 100.00%
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