Minority shareholders of the motor company say they have been kept in the dark ever since the crisis surrounding several shareholders over fraudulent deals erupted early this year. Financial information must be communicated to shareholders who must congregate every year at an annual general meeting which is long overdue at this date.

CMC’s annual meeting has been delayed for several months, with the result that some 14,743 minority shareholders have been kept in the dark about the major changes that have taken place in the company since the last such meeting. Combined, the stake of the minority shareholders comes to 37 per cent. The rest is in the hands of the top 10 shareholders.

The auto dealer last September started experiencing a vicious boardroom war and claims of fraud which allegedly cost shareholders billions of shillings. This resulted to Capital Markets Authority suspending CMCs share trading at the Nairobi Securities Exchange. The regulator also launched an investigation into the company undertakings after a row over the legality of a boardroom coup which saw the ouster of Peter Muthoka as chairman emerged.