BY NKECHI NAECHE-ESEZOBOR-Following the conclusion of a scheme of arrangement in which Kanuri LUR Limited acquired all the entire issued shares of Law Union and Rock Insurance Plc, The Nigerian Stock Exchange (NSE) has delisted the entire 4,296,330,500 outstanding ordinary shares of the company.
Prior to the delisting a full trading suspension was placed on the shares of Law Union and Rock Insurance to prevent trading in the shares of the company beyond the effective date of the scheme of arrangement.
The notice from exchange thus reads: “We refer to our market bulletin of 16 October 2020 with reference Number: NSE/RD/LRD/MB56/20/10/16 wherein the Market was notified of the full suspension placed on the shares of Law Union and Rock Insurance Plc (Law Union or the Company) to prevent trading in the shares of the Company beyond the Effective Date of the Scheme of Arrangement by which Kanuri LUR Limited will acquire all the entire issued shares of Law Union.
Following the conclusion of the above referenced Scheme of Arrangement, and sequel to the approval of the Company’s application to delist its entire issued share capital from The Nigerian Stock Exchange (The Exchange), please be informed that the entire 4,296,330,500 outstanding ordinary shares of Law Union and Rock Insurance Plc were on Thursday, 5 November 2020, delisted from the Daily Official List of The Exchange
