I have considered the Originating Summons dated 04.02.2023 and the reasons advanced for reducing the capital for the Company. According to the supporting deposition it is necessary to ensure that the incoming shareholders who have purchased the Company property have shares. In the circumstances, I allow the Summons in terms of Prayers 1, 2 and 3 and orders shall issue accordingly.
The Company shall bear the costs of the suit. Upon issuance of the orders, the file shall be closed.
DATED at NAIROBI this 16th day of FEBRUARY 2023
D. S. MAJANJA
JUDGE