Buy: 130.50
Sell: 134.50
Buy: 164.46
Sell: 171.46
Buy: 140.31
Sell: 146.81

OTC Shares FAQs Archives - Family Bank Limited, Kenya

Who handles shareholder related queries?

Shareholder affairs at Family Bank Limited are overseen and managed by the Shares Manager and the Company Secretary, who are available to the service of shareholders at all times.

How many shareholders does Family Bank have?

As at 31 December 2013 Family Bank had approximately 6,000 shareholders.

In what form are Family Bank shares held?

Family Bank shares are all held in the form of share certificates.

How can a shareholder immobilize his/her shares?

A shareholder is required to submit a copy of his/her identification card/passport and 2 (two) passport size coloured photographs along with the CDS1 form in order to open an electronic CDS account. The CDS account will bear a unique number just like a bank account number. He/She will have to attach the original share certificates and a copy of the identification documents along with CDS Form 2 for immobilization of shares that will be credited to the electronic CDS account.

How can a shareholder sell his or her shares?

To sell shares a shareholder is required to visit any of our branches and fill a sale order form and also sign statutory transfer forms.
He is also required to provide the following;

  • A certified copy of PIN certificate
  • The original certificate(s)
  • A certified copy of ID/Passport
How can a shareholder buy additional shares?

A shareholder is required to visit any of our branches where they will be identified as shareholders, and then place an order for buying shares. The shareholder will then be required to deposit the amount for buying shares to enable him execute the purchase order.

How can the beneficiaries claim the shares of a deceased shareholder?

This process is referred to as the transmission of shares, which means the transfer of shares from the estate of a deceased shareholder to a beneficiary. This process is strictly regulated by the Government of Kenya through the CMA regulations and the Law of Succession Act. Where a shareholder leaves a Will, the beneficiaries will have to apply to the courts for a grant of Probate to qualify as an executor of the Will. Where a shareholder does not leave a Will, the beneficiaries will have to apply to the courts for a Grant of letters of administration to qualify as administrators of the estate.

A shareholder is required to visit any of our branches and submit the following documents to enable the Company seek approval from the authorities for transfer of shares:

  • All the original share certificates – in case of misplaced or lost certificates, the shareholder will need to sign an indemnity form (available from our offices) to be sworn before a Commissioner for Oaths.
  • An affidavit sworn in the presence of a Commissioner of Oaths incase the share certificates are lost.
  • A certified copy of the deceased shareholder’s identification card/passport.
  • A certified copy of the new shareholder’s identification card/passport.
  • A copy of death certificate
  • A copy/copies of previous dividend warrant
  • Certificate of Confirmation of grant – High Court in-case of shares worth >100,000/=
  • Grant of Letters of administration – High Court in-case of shares worth >100,000/=
    (* if a Grant has been issued outside Kenya, it must further undergo the re-sealing process by the High Court of Kenya, at the executors/administrators cost, in accordance with the Kenyan Laws of Succession.
  • Documents from the DC in-case the shares are worth <100,000/=
  • Abstract from police records in-case certificates are lost
How can a shareholder deal with lost or misplaced share certificates?

If a shareholder has lost or misplaced the original share certificates, a written request needs to be made to the Shares registrar for a replacement. Other requirements are;

  • Abstract from police records
  • Copy of utility bill (certified)
  • Copy of ID / passport (certified)
  • A letter from the branch
  • Customer letter requesting for replacements
  • Pin certificate copy (certified)
  • A sworn Affidavit
  • Indemnity
How can the shareholder deal with lost or misplaced their dividend warrants?

If a shareholder has lost or misplaced their original dividend warrant, a written request needs to be made to the Shares registrar for a replacement.

To facilitate issuance of replacement dividend warrants, the shareholder will have to execute an indemnity form for lost or misplaced dividend warrants in the presence of an advocate / notary Public.

Based on this indemnity form, a replacement of the lost warrants will be issued

How can the shareholder inform the company about a change of address?

Shareholders who have not received any communication from the company over the years due to change in their postal addresses should contact the Shares Registrar and the Company Secretary through our branches or post or at the company’s registered office as provided in this document.

The shareholder should fill in a change of mandate form and submit the instructions along with a copy of their identification card/passport and should indicate both the old mailing address as well as the new address of the shareholder for verification purposes.