Telekom Networks Malawi Limited (TNM) has released a circular advising its shareholders of an impending name change to TNM Plc to comply with the Companies Act of 2013.
The Act requires that the name of a public limited liability company ends with the words public limited liability or plc. TNM said in a statement issued by the company’s board of directors that it will change its name to comply with this legal requirement.
The trading name TNM will remain unchanged.
“A request to replace the company’s certificate of incorporation to reflect the new name has been made to the Registrar of Companies. The change of name will take effect from the date the replacement certificate is issued,” TNM said.
But TNM cautioned its shareholders that the company will not recall existing share certificates which will continue to be prima facie evidence of legal title.
“All existing share certificates of the company in issue bearing the existing name of the company will continue to be evidence of legal title to the shares and valid for trading, settlement, registration and delivery purposes.
“Any new share certificates of the company issued after the change of company name has become effective will be under the company’s new name,” the statement said.
TNM further said there will not be any arrangement for free exchange of the existing share certificates of the company for new share certificates under the company’s new name and that no further action will be required on the part of the shareholders.