CMA chief executive Paul Muthaura.[Photo/Nation]Kenyan investors who bought shares of UK company Atlas African Industries have lost all means of tracking the performance of the firm.
This comes after the collapse of its website, the only means left for communicating with shareholders.Atlas African Industries, whose shares are suspending from trading both at the Nairobi Securities Exchange (NSE) and the London Stock Exchange, had maintained the website following its controversial exit from Kenya in an apparent shift of operations to Ethiopia.The Capital Markets Authority (CMA), which is mandated by law to protect interests of investors said on Tuesday it would investigate the company over the information blackout.CMA chief executive Paul Muthaura said, “That is something we will be engaging the company on,” Burbidge Capital, Atlas its nominated advisors in Kenya, yesterday attributed the website’s collapse to a “technical issue.” “We have informed them (Atlas) and they are fixing that. It is just an issue with the domain and we will let you know as soon as they are back on.” The loss-making Atlas, which offered support services in the oil and gas industry, had a troubled short history since listing on the NSE in December 2014.