Cytonn Investment Management PLC, “CIMP”, has noted the media report and public tender notice both dated 17th March 2026, published in the daily Nation Newspaper concerning the proposed disposal of certain assets associated with Cytonn High Yield Solutions LLP (in liquidation) and Cytonn Real Estate Project Notes LLP (in liquidation).
We wish to assure all creditors and investors that the current developments form part of an ongoing
legal and court-supervised insolvency process. They do not amount to a final determination of all
rights, interests, or claims relating to the affected assets.
Further, the actions contravene existing court directions and we shall be taking
appropriate legal actions.
Importantly, in its Judgment dated 21st November 2025 in Civil Appeal No. E091 of 2024
(consolidated with Civil Appeal Nos. E092, E093 and E094 of 2024), the Court of Appeal
stated:
“It was still open to the SPVs to place material before the liquidator, with a view
to proving that their assets were not connected to the sum of money collected by
CHYS and CPN from the public, such evidence as would satisfy the liquidator to
release those assets.”
Pursuant to that judgment, we have since written to the Official Receiver and placed material before
that office with a view to demonstrating that the amounts invested in the relevant SPVs are not
connected to the sums of money collected by CHYS and CPN from the public. That process is therefore
already underway and remains an important legal avenue for the protection and possible release of
properly distinguishable assets.
Further, we wish to clarify that the preservation orders issued on 6th January 2023 by Hon. Mabeya
remain in force. To the best of our understanding, those orders have not been set aside. This means
that the legal position regarding the preserved assets remains subject to existing court orders and
due process.
In addition, in Insolvency Petition No. E063 of 2021, the Court, through Hon. Freda Mugambi
on 30th January 2026, gave the Official Receiver 90 days within which to finalise the verification
exercise and respond to the proofs of debt. The Court stated as follows:
“The Official Receiver has sought an additional 90 days to respond to the proof of
debt forms already submitted. It is imperative that this process be expedited.
Accordingly, the Official Receiver is hereby directed to ensure that within the next
90 days, the exercise is fully concluded and that all parties receive a definitive
response to their claims of proof of debt, so as to enable them to determine their
next course of action. SBM shall equally communicate to each and every one of the
home owners the result of their verification within this period and share that result
with the Official Receiver.”
That court directed process has not yet been concluded. It is therefore a matter of concern that,
before the verification exercise and response to proofs of debt are fully completed, steps are being
taken that may create confusion and anxiety among creditors and investors. We trust that the Official
Receiver will act in full compliance with the court’s directions and conclude the process as ordered.
Accordingly, creditors and investors should take comfort that there are existing legal safeguards, that
important issues remain pending, and that the position is still subject to court oversight and due
process.
Cytonn Investment Management PLC remains dedicated to supporting a lawful, fair, and transparent
process and to taking all necessary steps to protect stakeholder interests within the boundaries of
the law.
We urge all creditors and investors to stay calm, avoid speculation, and rely only on official updates.
We will continue engaging with relevant offices and providing further updates as needed.
Dated this 17th March 2026
EDWIN HAROLD DANDE
Chief Executive Officer, Cytonn Investment Management PLC
