KIMISITU INVEST 2019 DIRECTORS VACANCY

In the Eighth coming Kimisitu Invest AGM to be held on the 13th April 2019, due to rules and regulations that govern companies, there are two v a c a n c i e s on the Board of Kimisitu Invest created by Two Board members who are retiring and one is  eligible for re- election thus to fill the vacancies we are g i v i n g Kimisitu Investment Co PLC Shareholders an opportunity to Nominate replacement board members.

Kimisitu Invest Board through nomination, election process would select Members of the board according to their skill, experiences and personal qualities. It is the Kimisitu Invest board policy to balance the skills and experiences of her Directors yet considering unique or special requirements of the company.

THE CANDIDATE SHOULD HAVE THE FOLLOWING SKILLS, EXPERIENCES AND KNOWLEDGE

Professionals Qualifications:

First Degree from a recognized university

Note

Legal, Survey (Quantity &Land Survey), Real Estate, Accounts/Finance and Administration professionals will have an added advantage.

Personal qualities

The Board expects that the candidates will have the following personal qualities:

  • An understanding and commitment to the Vision, Mission and Values of Kimisitu Invest
    • Honesty and integrity
    • Willingness to devote and dedicate the time and effort required for an effective board
    • Commitment; attendance of board orientation, retreats, meetings, committee meetings and other related Kimisitu Invest events
    • A basic understanding of Corporate Governance
    • An understanding of the role of a Director and the fiduciary roles and responsibility of a board
    • An absence of an ongoing conflict that would impede a Director’s ability to fulfill his/her

fiduciary duties and responsibilities

  • A strategic thinker and ability to work in and as part of teams

   All prospective candidates must send clearances from EACC, CRB, HELB, KRA&CID

Interested and Qualified persons should apply by, Sunday  7th April, 2019 by 1700hrs by sending copies of their applications, detailed resumes and contacts of three referees addressed to the Chairman, Kimisitu Invest via an email to  info@kimisituinvestment.co.ke

ANNUAL GENERAL MEETING-13TH APRIL 2019

NOTICE is hereby given that the 8th Annual General Meeting of the Company will be held at St Andrews church, University way, Nairobi on Saturday, 13th April 2019 at 8.00 am to transact the following business: –

Agenda

  1. To note the presence of quorum and meeting properly constituted
  1. To read the notice convening the meeting and table the proxies received
  1. To confirm the Minutes of the 7th Annual General Meeting held on 21st April, 2018.
  1. To deal with matters arising from these minutes.
  1. To consider and adopt the audited financial statements for the year ended 31st December, 2018 together with the Directors’, GM’s and Auditors’ Reports thereon.
  1. To note that the Directors do recommend the payment of a dividend in respect of the year ended 31st December 2018 at the rate of 6%.
  1. To approve the director’s remuneration for the year ended 31st December,2018.
  1. To elect two directors in place of the retiring directors, Mr. Stanley Gachui who does not offer himself for re-election and M/s Lucy Mwangi, who retires and being eligible, offers herself for re-election.
  1. To discuss any other business of which due notice has been given at least 48 hours before the meeting.

BY ORDER OF THE BOARD

LAND BUYING CHECKLIST-TAXES, ZONING, LOCATION

After doing due diligence to make sure the land satisfies all your needs and it is clean. You move to the next considerations of buying land.

Zoning

Zoning is a system of land use regulation in various municipalities which in practice designates permitted and “extent of uses” of land based on mapped zones which separate one set of land use from another

Zoning regulates building height (how many levels one can built), plot coverage and ratio, similar characteristics or some combination of these.Local Governments use zoning as a permitting system to prevent new developments from harming existing residents or businesses and to preserve the quality of a community. Zoning laws affect the value of your real estate property. There are three main zoning classifications:

  • Residential: This applies to residences and multi-family dwellings.
  • Commercial: This usually applies to office blocks and businesses.
  • Industrial: This normally applies to manufacturing shops and plants.

Zoning laws vary from town to town so make sure you know the zoning restrictions on any real estate before you invest. The purpose of zoning laws is to specify what types of dwellings or businesses may reside in a certain area. 

Zoning laws may change and a real estate investment that is zoned ‘commercial’ or ‘residential’ today may be rezoned for another use in the future.If you invest in real estate for rental purposes, your tenants may cause zoning problems if they change the use of the rented facility. Tenants who convert their homes may unknowingly violate zoning laws, so it is very important to have a clause in your lease agreement stating what can and cannot be done on your rental premises.

Ordinances

Another way that zoning laws may affect your real estate investment is when zoning is changed from one class to another. If the zoning is changed from residential to another class such as commercial, this can mean a higher property value, which means more value for your investment.

Before buying a property, it is important to talk to an expert at Housing Finance who will explain to you how municipal laws will affect your property. The experts will let you know, for example, if in five years your beautiful views will be replaced by a highway or a high rise development. Zoning regulations will indicate what may be legally constructed in the surrounding area.A variety of ordinances will also affect the placement of your new home on the lot. Regulations will specify how close you can build to the property line, roads, rivers and lakes. Easements for electrical and telephone poles will limit the space you have for building your home. Unless the property is in a development of suburban tract homes, there may not be easy access to electricity or public water lines.If there are no municipal sewers, you will need to know where you may legally place your septic system.Zoning may include regulation of the kind of activities which will be acceptable on particular plot such as open space, residential, agricultural, commercial or industrial; the densities at which those activities can be performed from low-density housing to high-density buildings; the height of buildings, the amount of space structures may occupy, etc.

Lease agreement It is very important for an investor to know the zoning requirements of any property before they invest. Find out from a Housing Finance expert what these laws and requirements are and any proposed changes as this can save you a lot of money and aggravation through costly and time consuming mistakes.In addition, ensure that your lease agreement states what activities are allowed or not allowed on the rental premises. Find out what the other properties in the same area are zoned.

Location

The location of the land is an important consideration. The owner’s primary use, whether it’s for investment, recreation, a second home, or a blend of these uses, will dictate where the property is located.

For those seeking a recreational get-away that can be visited on the weekends, many buyers try to limit the travel time to about a half day’s drive. That way, one can sneak out of work on a Friday afternoon, drive about four hours, and be grilling steaks on the deck over-looking Lake Margarita by dinner time. Other buyers, seeking more remote retreats, may only need to have a local airport within an hour of the property with someone local to drive them the rest of the way. Keep in mind that “remote” has many meanings and is sometimes more of a feeling than an actual geographic location. Timberland investors who may need to visit the property once a year can acquire tracts in any part of the country or even abroad.

TAXES

Land tax is a local tax with rates varying depending on the location of the land.
Land tax applies to land regardless of whether or not income is earned from the land. Land includes: vacant land, including vacant rural land. Land where a house, residential unit or flat has been built.
This is the tax levied on land based on:
1. The market value of land.
2. Value of land increases as it is serviced with good roads.
3. Water, sewage system.
4. Street lights and other security systems.
Once serviced the land is considered usable as zoned for settlements, industrial or agriculture.

LAND BUYING CHECKLIST- DUE DILIGENCE

Everyone’s dream is having a parcel of land be it an eighth, five acres or several thousands. Land ownership is the surest investment there is. They say the best investment on earth is earth. Land investment holds intrinsic value to the owner and signifies permanence in society

It is of importance to ensure that the land you want to purchase will provide the enjoyment that you are seeking.Doing thorough research of the property before getting into any form of agreement is key. This is what we call due diligence. It gives you surety that the property is clean and satisfies all your criteria
So, what should a prospective buyer consider? The following is the first of a three-part list of key items to get one started on the due diligence process.

Access

This is perhaps the most critical characteristic influencing value. The nature and extent of access dictates the type of uses the parcel can offer. Does the parcel front a publicly-maintained road with power and utilities? Does the parcel have a deeded right-of-way across an adjacent landowner? Does the condition of the road surface (e.g. gravel vs. pavement) relegate it to seasonal or year-round use? Research the access thoroughly and understand all the associated benefits and limitations to be sure you can use the parcel as you envision.

Boundaries

Parcel boundary markings exist in many forms and, in some cases, not at all. Always inquire first if a survey exists. It doesn’t necessarily have to be registered at the county registry of deeds, but it must have the imprint of a licensed surveyor to be legitimate. If no survey exists, start with the deed description and obtain a copy of the map. However, beware of the latter source as most municipal tax maps are meant for general location reference and not boundary identification.

Many boundaries also exist in the form of stonewalls and/or barbed wire. Such boundaries are more common in southern and central New England but less so in northern regions where large forested tracts have been managed for their timber for decades.

When physical evidence and legal documentation is lacking or uncertain, a licensed surveyor may be necessary to locate and re-mark the boundaries. Don’t be afraid to engage a professional to help you ascertain the parcel boundaries. It will be money well spent.

Deeds

A registered deed is the most important document to review. The seller or his/her broker can provide you with a copy. In some cases, you may need to obtain one from the lands registry.

The deed confirms the owner’s identity, who they purchased it from, and when. Most importantly, it provides a physical description of the property,

Read the deed carefully more than once and understand what is for sale, where it’s located, and any encumbrances that may exist. It is strongly advised that an attorney review the deed prior to sale, often done as a contract contingency, and that they conduct a thorough title search to ensure a “clean, marketable” title. There is no substitute for sound legal review in the acquisition process.

WHY YOU SHOULD INVEST IN NANYUKI

Nanyuki is the face of Laikipia County, which seats at the armpit of Mt Kenya. It is sandwiched between Meru and Nyeri counties.It has long been dominated by ranches, conservancies, and pastureland. Investors are changing this to a real estate market and holiday destination.

Its diverse hospitality is a plus for the town. The demand has seen Nanyuki attract housing developments that will be a home in a Nairobi high-end suburbs

Below are some of the reasons why Nanyuki is a hot spot for real estate.

The Lamu port/South Sudan/Ethiopia Transport corridor (LAPSSET)

Lapsset is the first single Gigantic, Integrated, Transformative and Game-Changer infrastructure Project the Government has initiated and prepared under Vision 2030 Strategy Framework without external assistance. The project which is already underway is set to pass through Isiolo, a few kilometres from Nanyuki positioning it to grow even further. This will see the value of land in Nanyuki appreciate exponentially over the next few years.

British Army Training in Kenya(BATUK)

Commonly known by locals  as ”Johnny” BATUK is a permanent training support unit for  British Army based mainly in Nanyuki, 200 km north of Nairobi, but with a small rear element in Kahawa Barracks, just outside Nairobi. It provides the logistic support to visiting units and consists of around 56 permanent staff and reinforcing short tour cohort of another 110 personnel.

The British Army recently acquired a 500 acre land parcel on a 99 year lease from the Kenya Defence Forces where they have set up a training military base. Consequently, this has seen the demand for residential developments swell, and as this demand is met through development of the area, the land value gradually appreciates.

Apart from the British Military, the Kenya Defense force and Kenya Air force

Tourist Destination

Did you know that Nanyuki holds a special place in Prince William’s heart? Yes Prince William who is second in line to succeed his grandmother, Queen Elizabeth II, after his father.

Nanyuki is where he entered into a “pretend engagement” with Jessica Craig before coming back years later to propose to his then girlfriend Kate Middleton, now the Duchess of Cambridge at Rutundu Log cabins in Nanyuki. It is this same region where his grandmother Elizabeth was when she found out she would be Queen.

With over 10 conservancies, with the most sought after being Ol Pejeta, Lewa conservancy and  Mount Kenya wildlife conservancy, Nanyuki offers you a unique chance to experience more than 80 species of wildlife for example Elephants, Lions, Zebra, Giraffe among others. Nanyuki is home to exquisite hotels and resorts such as the Fairmont Mt. Kenya Safari club, Falcon heights just to name a few. With holiday home developments such as Mukima ridge, Mt. Kenya wildlife home, the Maiyan and Enaai golf resort, Nanyuki’s real estate sector is only going to grow.

An interesting fact about Nanyuki is that it is home to the only bear in Africa and Its waters are natural,straight from Mt. Kenya, with very cold temperatures ( No need to refrigerate).

Kimisitu Investment has partnered with Nanyuki Gardens Limited to provide you with a perfect place for a holiday home and retirement. Think about scene,site and development we have a perfect package for you. For as low as 270,000 you can get a 1/8 acre

MAIN OPEN DAY 26TH JANUARY 2019 BOOK A FREE SEAT TEXT NAME TO 22567

SHARE DRIVE

press release

1360_001

Private Placement Application Form 2

Share definition

This is a unit of ownership in a company whose nominal value is contained in the memorandum and articles of association

Shares for a private company are not freely transferable but for a public company are though sometimes with conditions

Kimisitu Investment Company limited

This is a public company which was registered in August,2010 and it has been in operation since then (All public companies in Kenya must have a name ending with PLC and this has been accommodated by our company)

Purpose of the Placement and Rights issue

The purpose of the offer is to enable Kimisitu Investment meet the investment capital requirements necessitated by the strategic plan of constructing residential units for rent/sale that will serve as income generating to the company. This will result to higher returns for the shareholders.

Kimisitu Invest purchase of shares (this can only be done by the following categories)

  • Kimisitu sacco
  • Kimisitu sacco members
  • Kimisitu invest existing shareholders
  • Members of public through joint ownership with qualified potential shareholder

The shares are transferable to the following;

  • Kimisitu sacco
  • Kimisitu sacco members
  • Kimisitu invest shareholders
  • Through transmission by the court to the listed next of kin (s)

Pricing

The Private Placement and Rights Issue of 2,002,682 New Ordinary Shares Fully Paid At An Offer Price of KES 18.25 and KES 16.65 In The Ratio Of 1 New Ordinary Shares For Every 10 Ordinary Shares Held respectively

Reasons to purchase shares of Kimisitu Invest

  • Gain of dividends. Every shareholder is entitled to dividends as at and when they are declared. This is based on the number of shares one has and done on a prorata basis
  • Capital gains. When the company started operations shares were going for KES 10 as the Nominal value. This has increased over the years to the current price of KES 18.25
  • The company has an in-house market which enables a shareholder to dispose of their shares to ready buyers whenever need arises
  • Tax savings. The dividends are exempted from 16% VAT only 5% withholding tax is applied
  • Chance to become a director. For one to be a director, you have to be a shareholder at Kimisitu Invest

How long will the shares sale last

This will take four months running from 1st December, 2018 to 31st March, 2019 (this can only be extended if all the shares are not fully sold out)

 TRANSFER OF KIMISITU INVEST SHARES

Procedure

After receiving all the filled share transfer documents the receiving officer should check the following;

  • All the forms have been signed by the seller and the buyer and they should not be dated
  • Copy of ID,PIN and passport sized photographs should be attached for both
  • The commission has been fully paid up by both the buyer and the seller
  • The original share certificate(s) has been attached
  • The buyer must be a member of kimisitu sacco and the relevant form must be signed by sacco
  • The forms which need to be witnessed has been witnessed by the authorized KICL staff
  • The above should be send to the registrar and the auditor for processing
  • Once registrar issues new certificate this need to be sealed and KILC office and issued to the client immediately
  • Once the above has been completed the same need to be communicated to the accounts department for system adjustment of shares

 

REASONS WHY YOU SHOULD INVEST IN KITENGELA

Kitengela is a cosmopolitan peaceful town located 30 km from Nairobi County. 15 years ago, Kitengela was a dusty small town where pastoralist Maasai grazed and slaughtered their livestock in a group ranch. Later the ranch was subdivided among members for encouragement purposes of owning land privately. Since then Kitengela has been growing vastly to a mini metropolis. This is vividly seen by the residential and commercial development projects sprouting up in the area each day.

Its location makes it a suitable place to build a home. It offers pocket friendly house rents and it’s proximity to Nairobi, Kajiado has been generally undergoing a property boom since 2011 and is still going strong.

Here are some of the advantages of investing in Kitengela;
  • Developed Infrastructure

Kitengela is well served with tamaced roads, electricity, water and sewerage facilities. Majority of settlements are located on both sides of the main Highway with further developments in the interior. Kitengela boasts of very many industries and factories like many cement factories, Export Processing Zones are found in Kitengela, very many textile industries are found here and all this offer employment opportunities, hence an investor can come up with a real estate plan and house the surging figures of employees.

  • Social Amenities

All major banks, supermarkets and fast food joints have become residence of this vibrant town. It has become a mixture of cultures from all over Kenya and has become the favourite destinations for Nairobians interested in buying real estate.

Kitengela has more than 15 banks, 6 or more health facilities, 3 major supermarkets,  two police posts, just kilometres apart though one is in Athi River,  a D.O and Chief’s office all in the town.Banks like National Bank, Co – Operative Bank, Standard Chartered Bank, Rafiki Microfinance Bank, Family Bank ,Jamii Bora Bank, Bank Of Africa ,Faulu Bank, Barclays Bank, Kenya Commercial Bank and NIC Bank are just some of the major banks in the town.

  • Economic Growth Stability
Kitengela’s economic growth is stable hence that’s why many people are rushing to invest there. With a stable increase in land prices, increase in the number of residential flats, increase in entertainment spots like hotels and pubs, and a general population explosion shows that people are fine with this town’s economy.
The general  living cost in Kitengela is not as high as in many towns as even those earning below 15,000/- can manage to live a “honourable” life here.
  • Presence of Learning Institutions

Land in Kitengela for family use is suitable and makes the learning process a smooth journey from Nursery all the way to university. With different schools offering different curriculum’s, your child’s learning process is assured. Schools like Kitengela International School, Acacia International Schools, St Monicah,Orchard School, Kitengela Girls, Kitengela primary,  KCA university, East African University, Ummah University among others.

Kajiado county stands out because of it’s fast rise from a small dusty Maasai town to a developed town.Well, with all that in mind, you now know in a nutshell why you should invest in Kitengela, whether commercially or private/residential.

Serene Kitengela Milimani 1B (Kitengela Sassy Gardens)

Our new and discounted project is the Kitengela Milimani phase 1B that is subdivided in to 59 eighth of an acre (50ft by 100ft) with ready titles. Enjoy discounted prices until 16th June 2018

Book your free seat here and bring along friends and family.

Join us to this amazing project that is prime for development with water, electricity and 24hr security on site. For more details

Dinner for 2 or Fuel voucher

HOLIDAY OFFERS!! REWARDS FOR CASH PURCHASES

We are extending to our customers a Holiday Offer which will run from 13th Nov. 2017 – 29th Dec. 2017 for Kona Baridi and Kiserian phase 3 plots.

Terms of offer:

  • It applies only to Kona BAridi and Kiserian phase 3 plots
  • Enjoy Dinner for 2 at Sankara Hotel or Fuel voucher worth kshs. 10,000 for each plot fully paid in cash
  • Payment plan of 6 equal monthly installments (No initial deposit required)

 

Applicable cash prices for the two projects are:

  • Kona Baridi – kshs. 360,000
  • Kiserian – Kshs. 350,000