Kenya Airways on Wednesday, April 8, addressed reports of changes in its shareholding, including claims by some media houses that placed Kiharu MP Ndindgi Nyoro as the leading individual shareholder.
In a statement issued by its Corporate Communications Department, KQ refuted claims that the National Treasury had increased its holdings above the 50% threshold.
The airline further denied news reports that the Employee Share Ownership Scheme (ESOP) had been wound up.
"We wish to clarify that this is not factual. Any significant change in shareholding is governed by the Shareholders Agreement and will be approved at a General Meeting of the shareholders," the statement read in part.
KQ revealed that the National Treasury and Economic Planning shareholding was 48.90 percent while the KQ Lenders Company 2017 Limited owned 36.30 percent of the shares.
Other shareholders include Koninklijke Luchtvaart Maatschappij (KLM) at 7.76 percent, Kenya Airways Employee Share Ownership Scheme at 2.44 per cent and individual and institutional investors who held 4.60 percent of the shares.
The national carrier explained that the KQ ESOP scheme was duly approved by shareholders, and its shares are not available for trading as they are held in trust for allocation to qualifying staff over time in line with the scheme's administration conditions.
Kenya Airways cautioned digital and print media outlets against publishing unverified, misleading, and sensational headlines whose impact goes beyond acceptable limits.
The airline argued that such reporting served no purpose other than creating baseless excitement and anxiety among our key stakeholders and the general public.
"Such misreporting and mispositioning of key facts about the Company risks not only misinforming the wider public regarding the status of the Company but also undermining the confidence the public and stakeholders have in the airline as well as its strategic positioning in the broader aviation sector," the statement continued.
KQ reaffirmed its commitment to transparency, good corporate governance, and timely disclosure of material information in line with all regulatory requirements.
The news report claimed that the National Treasury had upped its shareholding to 50.1 percent, following the exit of the ESOP, which had 142.1 million shares worth 2.44 percent.
Media reports revealed that Nyoro had acquired 10.3 million shares worth Ksh39.2 million while Thika Town MP Alice Ng'ang'a had bought 2.33 million shares worth Ksh11 million.
