{
  "id": 5081001,
  "title": "Mumias Sugar shareholder wants answers on NSE trading suspension",
  "url": "https://urgent.news/2026/09/02/mumias-sugar-shareholder-wants-answers-on-nse-trading-suspension",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T12:00:00.000Z",
  "source": {
    "name": "Capital Business",
    "slug": "capital-business",
    "url": "https://capitalfm.africa/mumias-sugar-shareholder-wants-answers-on-nse-trading-suspension/"
  },
  "original_language": "en",
  "account": "Nairobi, Kenya - A shareholder of Mumias Sugar Company has demanded answers from the Capital Markets Authority (CMA) regarding the ongoing suspension of the company's share trading for nearly seven years. Through his legal representative, Taiti Hanningtone has requested the CMA to shed light on the current status of the suspension, Mumias’ compliance with disclosure obligations, and the timeline for resuming trading or delisting of the shares. IC Law Advocates, acting on behalf of Hanningtone, has raised concerns about the lack of information provided to shareholders and the company's adherence to regulatory requirements. The law firm has asked the CMA to clarify when the suspension was initially authorized, the legal basis for the suspension, and the reasons behind the decision to keep or prolong the suspension. They have also inquired about the CMA's evaluation of the reasons for maintaining the suspension and whether Mumias has fulfilled its obligations in financial reporting, material disclosures, corporate governance, and communication with shareholders. The lawyers have also requested information on whether Mumias has submitted a proposal to resume trading and what outstanding conditions persist. According to Regulation 75 of the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023, a suspended issuer must submit a resumption proposal within 12 months of the suspension to return its securities to trading. Failure to submit such a proposal within the stipulated period could result in the exchange seeking to delist the issuer, subject to CMA approval. Hanningtone has further sought the CMA's perspective on the potential delisting of Mumias under Regulation 74. The law firm has given the CMA a 14-day deadline to provide the requested information. Mumias Sugar shares were initially suspended from trading on the Nairobi Securities Exchange on September 26, 2019.",
  "summary": "Taiti Hanningtone, through his lawyer, wants CMA to provide details on the status of the suspension, Mumias' compliance with disclosure requirements and whether there is a clear path for the shares to resume trading or be delisted.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}