Eveready shares soar after talks on deal with En­er­gizer

The Star (Kenya) - - News -

Eveready East Africa’s shares trad­ing on the Nairobi Se­cu­ri­ties Ex­change gained the most at 9.80 per cent yes­ter­day to Sh2.80 a piece. On Monday, the com­pany said it was in dis­cus­sion for a long-term deal dis­tri­bu­tion with En­er­gizer. Eveready said the two-year deal in Septem­ber 2014 ex­pired last month. It said the dis­cus­sions have been opened with a “view to con­clud­ing a de­fin­i­tive agree­ment soon based on mu­tu­ally agree­able terms”. EMAL is a sub­sidiary of the gi­ant En­er­gizer, which con­trols a 10.5 per cent stake in Eveready. “The agree­ment which ex­pired by ef­flux­ion on Septem­ber 30, 2016, sets out the terms and con­di­tions of sup­ply and dis­tri­bu­tion of var­i­ous im­ported prod­ucts in the flash­light and por­ta­ble power cat­e­gory … to in­clude Eveready and En­er­gizer branded prod­ucts,” the state­ment read.

BEN NDONGA

Share­holder Daniel Gathogo dur­ing the Eveready An­nual Gen­eral Meet­ing in Nakuru on Oc­to­ber 6/

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