PRESS RELEASE Britam Shareholders Approve Employees Share Plan Nairobi-Kenya…

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PRESS RELEASE Britam shareholders approve employees share plan Nairobi-Kenya…Britam employees can now own shares in the company after shareholders approved a proposal for the creation of an employee stock ownership plan (ESOP). The ESOP plan, now awaiting approval by the Capital Markets Authority, is a staff incentive and retention plan that provides the company workforce with an ownership interest in the company. Britam now joins other publicly quoted companies in Kenya that have introduced ESOP for employees in the work place. During the group’s 21st Annual General Meeting, the board of Directors recommended a dividend for the year of Ksh 581. 5 Million, similar to 2015. Britam has consistently declared dividends to shareholders since the company was listed on the Nairobi Securities Exchange in 2011. To improve and enhance corporate governance, the shareholders also approved the appointment of Ms Caroline Kigen, Mr Mohamed Karama and Mr Mike Laiser as Directors in the Holdings Company Board. Ms Kigen, a former lecturer at the University of Nairobi and Strathmore University, is a financial management and corporate governance consultant. Mr Karama is a Certified Public Accountant and has previously worked as a partner at PricewaterhouseCoopers. Mr Laiser is an enterprise development economist, with expertise in SME, microfinance, industrial development and management. Amb. Dr Francis Muthaura, the current chairman of the Holdings Company Board, was once again re-elected to serve as a director in the board, alongside Dr Peter K Munga and Mr Jimnah Mbaru. Group Managing Director Dr. Benson Wairegi said the Group was now actively pursuing property development as a diversification strategy. He said the company has broken ground for the construction of 163 high end serviced apartments in Kilimani at a cost of Ksh 3. 3 billion. He said that there are other property projects set to be unveiled in the near future. He also noted that the 31 storey iconic Britam Tower built at a cost of KShs. 4 billion was 97 per cent complete. Dr Wairegi said that the company’s life business maintained its industry leadership position in 2016, growing its market share to 23.51% from 19.59% in 2015 and registering a Gross Written Premium (GWP) growth of 41.29% against an industry growth rate of 17.72% in 2016.Britam Asset Managers, a subsidiary of the Holding Company, posted tremendous growth within the year, with Assets Under Management of Ksh 108 billion from Ksh 90. 5 billion in 2015. Dr Wairegi said the company had changed its name from Britam Holdings Limited to Britam Holdings Plc in compliance with the law that requires listed companies to add Plc to distinguish them from private companies. Ends. .

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