SEC Approves Prestige Assurance Plc's Bonus Issues
At the last AGM of Prestige Assurance Plc held on 11th of June 2018, the following resolution was passed by the Shareholders:
“That the Directors be and are hereby authorized to issue bonus shares from its share premium account in the sum of N782,569,517.00 being 41 new shares for every 100 share held thereby increasing the issued share capital of the company from N1,908,706,140 to N2,691,275,658 by issuing 1,565,139,035 ordinary shares of N0.50 kobo each to shareholders who are on the register of members at a date to be determined”
Based on this premise, Prestige Assurance Plc approached the Security & Exchange Commission to register the bonus share and approval was subsequently granted on the 9th of November, 2018. On 13th November 2018, we approached The Nigeria Stock Exchange to start proceedings to list the shares and determine the qualification date to be applied to the issue.
Basis of Bonus: 41 shares to every 100 shares held
Qualification Date: 27th November, 2018
Closure of Register: 28th November - 5th December, 2018 (both days inclusive)
The exercise was completed on 6th of December 2018 with the allotment of the Bonus Shares by the Registrars