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NAIROBI, July 10 (Reuters) – Shares of Kenya 's ARM Cement dropped by the maximum daily bound of 10 percent on Tuesday after a reported decline.
The Business Daily newspaper reported that ARM last month failed to pay bondholders interest on a bond issue in 2015.
ARM CEO Pradeep Paunrana told Reuters that he was traveling and would like to report at 3:30 pm ( 1230 GMT).
Its shares were trading at 3.25 shillings at 0700 GMT, down 9.72 percent from Monday's close of 3.60 shillings, Reuters data showed.
The shares are down nearly 97 percent from their all-time highs of 98.00 shillings each at the start of 2014, as the problems in Tanzania have collapsed from its current level of 10 percent.
The shares were most heavily traded on the Nairobi Stock Exchange in Monday's session, when they closed down 7 billion after the company reported 21 billion shillings ($ 208.13 million). ($ 1 = 100,9000 Kenyan shillings) (Reporting by Duncan Miriri, Louise Heavens editing)
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