Mumias Sugar Company chairman Dan Ameyo has claimed that individuals who have been mentioned in the embezzlement of funds in the company are fighting back. Ameyo told the company shareholders during an extraordinary general meeting in Kisumu on Friday that forensic audit revealed those behind the scam that threatens the existence of the company. He said that some individuals have been taken to court while others are still under interrogation at the Ethics and Anti Corruption Commission. The chairman said most of those individuals are fighting back as the company management continues to pursue them with the relevant authorities. Ameyo further explained to the shareholders that the extraordinary general meeting was necessary to change in share capital structure. He said the company requires additional funds for its operations and there was need to raise it through restructuring of loans and shareholders to take their rights during a rights issue. Ameyo said additional shares will also be availed to the shareholders. The general meeting passed the resolution that shares be offered to the members of the company by way of rights of holders of ordinary shares of the company. They resolved that the shares be in a proportion to the existing shares held by them at the close of business on a date to be fixed by the board of directors.

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