REPUBLIC OF KENYA
IN THE HIGH COURT OF KENYA AT NAIROBI
COMMERCIAL AND TAX DIVISION
HCCOMM NO. E013 OF 2025
IN THE MATTER OF FLORENSIS REAL ESTATE COMPANY (KENYA) LIMITED
-AND-
IN THE MATTER OF THE COMPANIES ACT NO. 17 OF 2015
-AND-
IN THE MATTER OF AN APPLICATION FOR THE REDUCTION OF THE SHARE CAPITAL OF FLORENSIS REAL ESTATE COMPANY (KENYA) LIMITED
RULING
1. The plaintiff/applicant filed an Originating Summons dated 10th January 2025 seeking the following orders-
(i) Spent;
(ii) That pending the hearing and determination of this application, this Honourable Court do grant leave to the applicant to issue notice of filing of this application and the hearing thereof by publication in one issue of a Newspaper with nationwide circulation;
(iii) That the Special Resolution passed by the shareholders of the applicant on 31st December, 2024 for the reduction of Nominal Share Capital of the applicant be approved and confirmed by this Honourable Court; and
(iv) That costs of this application be in the cause.
2. The Originating Summons are supported by an affidavit sworn on 10th January 2025 by Guy Spencer Elms, the Company Secretary of the applicant. On 16th January 2025, I gave directions for a Notice of reduction of the Share Capital of the applicant to be published in a Newspaper with wide circulation within fourteen (14) days from the date of the said directions.
3. When Mr. Harshil Shah, learned Counsel for the applicant appeared in virtual Court on 18th March 2025, he informed this Court that the applicant had advertised the application herein, for reduction of the applicant’s Share Capital in the Daily Nation Newspapers of 23rd January 2025, but no person or entity had come forward to oppose the said application.
4. I have confirmed that the applicant company duly published a Notice informing all and sundry of the existence of the Originating Summons dated 10th January 2025 seeking to reduce the applicant company’s nominal Share Capital from 50,754,000/= to 30,754,000/=. Having seen a copy of the said Notice, and having noted that no objection was served on the applicant’s Advocates, the applicant is entitled to the orders sought in the Originating Summons dated 10th January 2025, which I hereby grant, with no orders as to costs.
5. I further direct that this case file be marked as closed.
It is so ordered.
DATED, SIGNED and DELIVERED at NAIROBI on this 18th day of March, 2025. Ruling delivered through Microsoft Teams Online Platform.
NJOKI MWANGI
JUDGE
In the presence of:
Mr. Shah for the applicant
No respondents present (as no objection was filed)
Ms B. Wokabi – Court Assistant.
IN THE HIGH COURT OF KENYA AT NAIROBI
COMMERCIAL AND TAX DIVISION
HCCOMM NO. E013 OF 2025
IN THE MATTER OF FLORENSIS REAL ESTATE COMPANY (KENYA) LIMITED
-AND-
IN THE MATTER OF THE COMPANIES ACT NO. 17 OF 2015
-AND-
IN THE MATTER OF AN APPLICATION FOR THE REDUCTION OF THE SHARE CAPITAL OF FLORENSIS REAL ESTATE COMPANY (KENYA) LIMITED
RULING
1. The plaintiff/applicant filed an Originating Summons dated 10th January 2025 seeking the following orders-
(i) Spent;
(ii) That pending the hearing and determination of this application, this Honourable Court do grant leave to the applicant to issue notice of filing of this application and the hearing thereof by publication in one issue of a Newspaper with nationwide circulation;
(iii) That the Special Resolution passed by the shareholders of the applicant on 31st December, 2024 for the reduction of Nominal Share Capital of the applicant be approved and confirmed by this Honourable Court; and
(iv) That costs of this application be in the cause.
2. The Originating Summons are supported by an affidavit sworn on 10th January 2025 by Guy Spencer Elms, the Company Secretary of the applicant. On 16th January 2025, I gave directions for a Notice of reduction of the Share Capital of the applicant to be published in a Newspaper with wide circulation within fourteen (14) days from the date of the said directions.
3. When Mr. Harshil Shah, learned Counsel for the applicant appeared in virtual Court on 18th March 2025, he informed this Court that the applicant had advertised the application herein, for reduction of the applicant’s Share Capital in the Daily Nation Newspapers of 23rd January 2025, but no person or entity had come forward to oppose the said application.
4. I have confirmed that the applicant company duly published a Notice informing all and sundry of the existence of the Originating Summons dated 10th January 2025 seeking to reduce the applicant company’s nominal Share Capital from 50,754,000/= to 30,754,000/=. Having seen a copy of the said Notice, and having noted that no objection was served on the applicant’s Advocates, the applicant is entitled to the orders sought in the Originating Summons dated 10th January 2025, which I hereby grant, with no orders as to costs.
5. I further direct that this case file be marked as closed.
It is so ordered.
DATED, SIGNED and DELIVERED at NAIROBI on this 18th day of March, 2025. Ruling delivered through Microsoft Teams Online Platform.
NJOKI MWANGI
JUDGE
In the presence of:
Mr. Shah for the applicant
No respondents present (as no objection was filed)
Ms B. Wokabi – Court Assistant.