ARM Cement set to surpass net loss of Sh6.5 billion

October 31st, 2018|

Collapsed cement maker ARM is set to surpass last year’s record loss in the current full year ending December as inadequate working capital continues to hamper production, the company’s administrators PricewaterhouseCoopers (PwC) have warned. The Nairobi Securities Exchange-listed firm made a net loss of Sh6.5 billion last year, but the projection is that this figure [...]

Extension of Suspension

September 28th, 2018|

Athi River Mining Cement Plc will continue to serve suspension at the Nairobi Securities Exchange for another 21 working days. The extension follows the placement of the company under administration pursuant to section 534(1) of the Insolvency Act, 2015. In a notice from the Nairobi bourse, the extension of the suspension was issued by the [...]

ARM Cement’s net losses widen 64.6%

September 3rd, 2018|

ARM Cement’s cash crunch saw its net losses widen 64.6 per cent to Sh2.3 billion in the half-year ended June, underlining the company’s urgent need for new capital injection. The cement manufacturer, which was recently placed under administration by its lenders, recorded a net loss of Sh1.4 billion a year earlier. The performance was driven [...]

ARM Cement suspended from trading

August 21st, 2018|

The Capital Markets Authority (CMA) has suspended the shares of Athi River Mining (ARM) Cement from trading on the Nairobi bourse after the company was placed under administration on Friday. According to a public notice issued by Nairobi Securities Exchange (NSE), the shares of the cement-maker, stuck in more than Sh14.4 billion debt, will remain [...]

ARM Cement Offers Up Assets Worth $8.5 million

June 14th, 2018|

ARM Cement has sweetened a deal for buyers of its non-cement businesses, offering them additional assets in Tanzania worth Sh854.6 million for free. The company earlier announced it had reached an agreement to sell its fertiliser and mineral production businesses in Kenya to Swiss firm Omya and Pinner Heights Limited (PHL), a company owned by [...]