NSE-Web-Prospectus-2014

13.27 Expenses of the Offer
Table 13.3 - IPO Expenses
Expense
Kshs
Lead Transaction Advisory Fees, Lead Sponsoring Stockbroker Fees, Sponsoring Stockbroker Fees,
Legal Advisor Fees, Reporting Accountant Fees, Receiving Agent Fees, Registrar Fees, Receiving Bank costs 24,000,000
CMA Fees 900,000
The Exchange Fees 500,000
Placement Commission* 9,405,000
Printing Costs plus Contingency / Miscellaneous 6,000,000
Total 40,805,000
These figures are exclusive of VAT (where applicable), are indicative and are subject to change.
* Maximum possible. Placing commission of 1.5% is payable to members of the NSE and 1% to non-members of the NSE (subject
where necessary to a minimum of Kshs 100 per application) appointed as Authorised Agents, and is computed on the value of
each successful application accepted in respect of the Application Form completed and signed by investors bearing the stamp
of a single Authorised Agent.
Additional NSE Awareness Campaign, Pre-Offer & Offer Marketing, Public Relations, Media Design & Buying and miscellaneous
related expenses is estimated at Kshs 38 million (exclusive of VAT) and is indicative and subject to change.
Payment to the Investor Compensation Fund Board – the applicable rate for the interest deemed to accrue on the gross proceeds of
the IPO between the Closing Date and the Refund Date/crediting of securities shall be the average Central Bank of Kenya interbank
overnight lending rate.
13.28 Inspection
The following documents, or copies thereof, may be inspected at the NSE’s registered office during normal working hours on any working
day during the Offer Period:
(a)
the Memorandum and Articles of Association of the Company;
(b) the audited financial statements of the Company in respect of the financial years ended 31 December 2009, 2010, 2011, 2012
and 2013;
(c) extract of the minutes of the meeting of the Board and the Shareholders’ meeting held on 2 April 2014 and 25 April 2014
authorising the Offer and the Self Listing;
(d)
(e)
(f)
(g)
(h)
(i)
the material contracts referred to in Section 13.12 above;
the Reporting Accountants’ Report as reproduced in this Prospectus and their written consent to the issue of this Prospectus with
their report included herein in the form and context in which it is so included;
the Legal Opinion of Legal Advisor to the Offer as reproduced in this Prospectus and their written consent to the issue of this
Prospectus with their opinion included herein in the form and context in which it is so included;
a copy of this Prospectus;
approval of the Capital Markets Authority in respect of the Offer;
approval of The Exchange in respect of the Self-Listing of the NSE Shares on the Main Investment Market Segment;
(j) the Management Accounts for the Four Months Period Ended 30 April 2014;
(k)
Offer Price report.
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