BY NKECHI NAECHE-ESEZOBOR–In a bid to meet up with the recapitalization requirement and deadline set by the insurance industry regulator, African Alliance Insurance Plc, has announced plans to divest from any existing investment asset(s) BusinessToday has learnt.
According to the company,the divestment will be authorized by its directors at its 51st Annual General Meeting that will hold at the Radisson Blu Hotel, Ikeja, Lagos State on 27th October, 2020 at 10am.
The statement released by the company to the Nigerian Stock Exchange and signed by Abisola Akinrin (Mrs.), Company Secretary, said that the “meeting will be to authorise the directors to divest from any existing investment asset(s) in furtherance of the recapitalization objectives of the Company.
“To authorise the directors to appoint such advisers, professionals and parties that they deem necessary upon such terms and conditions that the directors may deem appropriate with regard to the aforementioned divestment(s).
“To authorise the Directors to take all steps and do all acts that they deem necessary for the successful implementation of the above stated resolutions.”
