Vehicle maker Mobius Motors is set to shut its business operations in Kenya after shareholders endorsed its liquidation.
During a meeting held on August 5, 2024, it was resolved to place the Company under liquidation as per Section 393(1) (b) of the Insolvency Act.
The shareholders also resolved to appoint KVSK Sastry as the liquidator to wind up the Company.
"Notice is hereby given that a meeting of the creditors will be held on August 15, 2024, at 9 am at Mobius Factory (Sammer Africa, Mombasa/Enterprise Road Junction, Nairobi)," Mobius Motors director Nicolas Guibert said.
He stated that during the meeting, they will consider, and if thought fit, pass a resolution approving the shareholders' nominee as the liquidator of the Company as per Section 408 of the Insolvency Act.
He added that the list of names of the creditors and proxy forms will be made available, free of charge, for inspection on August 9, 2024.
They will be made available at the Company's offices at Mobius Motors office, Block C3, Sameer Business Park, Mombasa Road, Nairobi.
The shutting down will mark an end to Mobius Motors' 13-year journey.
Mobius Motors was founded in 2011 by British businessman Joel Jackson with the target of building cars for the African market.
The first- generation, Mobius II, was launched in Kenya in 2015.
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