Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 902040,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/902040/?format=api",
    "text_counter": 280,
    "type": "speech",
    "speaker_name": "Hon. Ndindi Nyoro (",
    "speaker_title": "",
    "speaker": {
        "id": 13370,
        "legal_name": "Samson Ndindi Nyoro",
        "slug": "samson-ndindi-nyoro"
    },
    "content": "a few years ago was taken over by the two original brothers through this kind of an arrangement. Just recently, we saw the delisting of KenolKobil through the same kind of way. Therefore, for us to amend that now you only need 50 per cent plus one to violently take over a company, I do not think we are safeguarding the rights of the minority shareholders. We have many in the pipeline who would want to push out the small shareholders. The major issue around takeover is the pricing and the valuation. Yes, you want to take over these small shareholders but at what cost? Before we pass the amendment as it is, we also need to be mindful of the small shareholders. As you know, when people are making their companies public, most of them leave over 50 per cent plus one with themselves but it will be very hard for anyone with intention of violently taking over a company, the way the Companies Act is now: you need a threshold of 90 per cent plus one."
}