Share Drive Campaign

  • TN SACCO currently has a share capital of Kshs 72,843,424.45 and seeks to raise an additional Kshs 200 Million for on lending from its existing members. 
  • It proposes to do this through issuance of 10,000,000 new shares to its members at Kshs 20 each. Currently each member is expected to purchase a minimum of 500 shares of Kshs 20 each upon joining the SACCO as a member. 
  • By purchasing new shares, the SACCO members stand to benefit from having a larger shareholding upon which payment of dividend is based on. 
  • Having shares means that the members of the SACCO can retain their ownership even after exiting from active participation in the SACCO and continue earning a dividend on their shares. 
  • Based on the past financial performance trend of the SACCO, members stand to receive a positive return on their investment through a good dividend rate. 
  • Given that we have a clear destination to invest the funds; members are assured of good returns on their investment. 

Eligibility to Participate 
Only registered members of Trans Nation SACCO Ltd shall participate in the shares drive as defined below. 

Classes of Members: 

  • Class A
  • Class B
  • Class C 

Definitions of various Shares According to Trans Nation 

NON WITHDRAWABLE DEPOSITS 

  • Minimum contribution per month is Kshs. 1,500 and 500 for retirees.
  • Sixty days notice in case one wants to withdraw.
  • They can be refunded only when one retires from employment
  • You can not withdraw partial shares unless if you have retired.
  • One is paid interest on shares deposits according to the performance of the Sacco in that particular year.

SHARE CAPITAL (PREMIUM)

  • Not refundable but are transferable.
  • One is paid dividend.
  • Can be used as multiplier but not as security for a loan.
  • They act as ownership of the Sacco.
  • A new member can secure a loan immediately after purchasing premium shares but other conditions of the loan will apply according to the Sacco loaning policy.
  • These shares will be traded over the counter in all Trans Nation branches. In future the same will be traded in Nairobi securities exchange.

Capitalization of Dividends: 

  • Every year the premium shares will be earning dividend in which the rate equal to the rate of non withdrawable deposits will be credited to one’s Savings account and the difference capitalized on one’s premium shares.

Advantages of Capitalization 

  • One will be able to build his or her shares every year.
  • Addition of value to one’s premium shares owned in the society
  • Ensuring that the premium shareholder is active in participation of the Sacco affairs.
  • Capitalizations help the Sacco to improve on its service provision to its members. 

Key Features of the premium Shares Offer

Reasons for the Share Offer 

  • Fund business growth 
  • Increase our capacity to provide long term financing to members in form of loans and advances. 

Benefits of Share Offer

  • Increased dividend earnings. 
  • Participation in the ownership of a stable and steadily growing financial institution. 
  • More funds available for additional loan products. 
  • The raised shares can be used as a basis of loan qualification BUT not as a security for the loan granted. 
  • The issued shares can be sold over the counter.

Opening and Closure 

The share drive issue opened on the 1st of January 2017 and closes on 30th June 2017.
Application, Allotment and Acceptance 
All shares applied will be allotted on first come basis, but not more than 1/5th of shares on offer. 

Acceptance procedure ;

  • A duly filled completed shares application form and subsequent payment. 
  • Acceptance of a share offer, once issued is irrevocable 
  • Allotment of shares will be on first come basis.


SALE/PURCHASE OF PREMIUM SHARES PROCEDURE 

Sale: 

  • One will fill the form issued by the Sacco where he or she will indicate the number of premium shares she/he wishes to sell.

Purchase: 

  • The interested member will be requested to deposit cash equivalent to the number of shares he/she wishes to buy and the commission to be charged in a specified account. 
  • Once the sale or purchase is done, the respective member will be informed through sms by the Sacco.

 

DOWNLOADS

Document   Download Link
     
Share Capital (Premium Shares)   Click here to download
Our Products   Click here to download
Trans Nation SACCO Information Memorandum   Click here to download
Shares Subsription Form   Click here to download
Chairman's Speech During Launch of strategic Plan   Click here to download