Eveready E.A PLC, the Naushad Merali controlled battery distributor has announced delays in release of its audited accounts.
In a notice to shareholders, the struggling distributor, which diversified from dry cell manufacturing two years ago says the delay is occasioned by logistical challenges, related to the harsh business environment.
The delay has been communicated to the Capital Markets Authority (CMA) for compliance purposes. No date has been given for the official
The firm issued an Initial Public Offering(IPO) in 2005. The shareholders, led by the aging Merali pocketed billions of shillings in the privatization.
The company trading hit turbulence, climaxing with the severing of relations with Energiser plc.
