NSE-Web-Prospectus-2014

4.16.5 In the event that the results of the subscription make theabove allocation policy impractical then an amendment to theallocation policy shall be made with the approval of the CMAand such amendment will be announced through a notice in atleast two daily newspapers with national circulation in Kenyawithin twenty four hours of the grant of such approval.4.16.6 In the event of any doubt whatsoever as to the allocationof the Offer Shares as determined by the NSE, the decision ofthe NSE will be final.4.16.7 The NSE will announce the manner in which the OfferShares have been allocated to applicants in the above twopools on the date detailed in No 3 of the Section 2-Timetableabove. The announcement will be published in at least twonewspapers with national circulation in Kenya.4.17 Loan Facilities4.17.1 Investors may approach a Lender for loan facilitiesto facilitate participation and payment of the full amountdue in respect of the Offer Shares.4.17.2 The extension of loan facilities by any Lender is adecision to be made by such Lender, at its sole andabsolute discretion.4.17.3 Investors who intend to acquire the Offer Sharesthrough loan facilities shall ensure that the following iscomplied with:4.17.3.1 the Lender shall write to the CDSC stating that itrequires the Offer Shares to be pledged as security, untilsuch time as the CDSC is instructed in writing to thecontrary by such Lender, through an Authorised Agent, tolift such pledge; and4.17.3.2 upon completion of CDS Form 5 (available froman Authorised Agent), all pledges will be effected throughentries in the Central Depository System maintained bythe CDSC. The pledging of such shares will, at all times, besubject to Rule 63 of the Central Depositories (Regulationof Central Depositories) Rules, 2004.For every financed application to the CDSC, the Lenderor the purchaser is required to pay Kshs 1,000/- via a Banker’sCheque or a cheque issued by an Authorised Agent,payable to “CDSC” - [insert serial no. of CDS Form 5].4.17.4 Lenders extending finance must submit payment for thefull amount due and attach the duly completed and executedApplication Form, together with a letter signed by theauthorized representatives of the Lender addressed to theRegistrar, requesting the shares to be frozen in the CDS, toreach the Authorised Agent by the Closure Date.4.18 Refunds4.18.1 Refunds will be paid by EFT or RTGS to the bank accountdetails in the CDS Account or in the Application Form. However,if the electronic transfer is declared unsuccessful or otherwise,a Banker’s Cheque or bank draft may be issued in the nameappearing on the Application Form.4.18.2 Where a Lender has advanced money to an investor tosubscribe for Offer Shares, refunds will be made to or for theaccount of such a Lender as the case may be.4.18.3 The NSE will make refunds on the Refund Date and willcomply with Capital Markets Legislation.4.18.4 Refund cheques (where applicable) should becollected from the relevant Authorised Agent against proofof identity and other documentation to the satisfaction ofthe Authorised Agent.4.18.5 Payment of refunds to foreign/nonresident investors,shall be made having regard to the prevailing exchange ratesand any fluctuations shall be for the investor’s account.4.18.6 Neither the NSE, the Receiving Agent, the ReceivingBank nor any transaction advisors to this Offer will beresponsible or liable for any refund not received or notreceived in time, once the refund has been made by NSEusing the data in the CDS Account or the Application Form,as provided by the account holder.Where refunds are sent to the incorrect bank account orwhere cheques are cleared incorrectly, by the ReceivingBank on behalf of NSE, NSE will take responsibility and havethe transfer or cheque rectified as required, provided thereis a formal notification by investors for refunds not received,The investor is required to write a letter to their AuthorisedAgent who within 5 business days of receipt will be requiredto investigate and revert back to the investor with therelevant information. Any rectification is expected to bemade within a further 5 business days.The Receiving Bank and Receiving Agent are expected to putin measures to ensure safe custody of cheques and properverification procedures for clearance of cheques. Theseinclude effective co-ordination of information flow betweenthem and the Authorised Agents, the use of specialdocumentation, hierarchical administrative structures anddedicated personnel with specific responsibilities.4.19 Trading4.19.1 Investors who comply with the procedures foracceptance as set out in this Prospectus, will receive their fullypaid Offer Shares in electronic form, by way of credit to theirrespective CDS Accounts. It is the responsibility of the investorsto ensure that their CDS Account details set out in theApplication Form are correct.4.19.2 Trading in fully paid Offer Shares may only take placethrough a CDS Account.4.19.3 Fully paid Offer Shares will be admitted on the MainInvestment Market Segment of the Exchange on the Self-Listing Date with dealings of fully paid Offer Sharescommencing at 10:00 a.m. on the same date.4.19.4 Foreign investors: The Capital Markets (ForeignInvestors) Regulations, 2002 (“the Foreign InvestorsRegulations”) define a ‘foreign investor’ in Regulation 2 ofthe Foreign Investors Regulations as being any person who isnot a citizen of an East African Community Partner State ora body corporate established or incorporated in an EastAfrican Community Partner State and whose beneficialinterest in 100% of its ordinary shares is for the time beingheld by a citizen or government of an East African CommunityPartner State or incorporated under the provisions of the lawsof an East African Community Partner State.26