HF Group has received approval from the Capital Markets Authority to issue and list 94.27 million new shares under its Employee Share Ownership Plan, bringing to a close a restructuring process initiated by shareholders in May 2025.
The regulator’s approval formally ushers in the company’s revamped ESOP framework, which replaces the long-running 2008 staff scheme with a modern structure anchored in the Companies Act. With the green light in place, HF Group is now authorised to create the new shares at a par value of KSh 5 and transfer them to ESOP trustees in accordance with the Trust Deed and Rules adopted at its May 28 annual general meeting.
Shareholders had, at that meeting, approved an expansion of the firm’s nominal share capital and sanctioned the issuance of the 94.27 million ESOP shares, a resolution that passed with overwhelming support.
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Under the new structure, the board has discretion to allocate the shares over a period of up to five years. At any point, total employee ownership will be capped at 5 percent of HF Group’s issued share capital. Once allocated, the ESOP shares will rank equally with existing ordinary shares, entitling employees to full dividend and voting rights.
The CMA’s nod represents the final regulatory hurdle in the rollout of the new plan and formally confirms the retirement of the legacy 2008 scheme as part of HF Group’s wider capital and incentive overhaul.
