BY NKECHI NAECHE-ESEZOBOR—-The meeting of the holders of the fully paid up ordinary shares of Coronation Insurance Plc initially scheduled for the 24th day of August 2023 at 1:00pm at Balmoral Hall, Federal Palace Hotel, Victoria Island, Lagos, to consider, and if thought fit, approve, a Scheme of Arrangement proposed to be entered into between the Company and the holders of its fully paid ordinary shares by an Order of the Federal High Court dated 26 June 2023, made in the above matter, has been indefinitely postponed.
Notice is also given that the proposed Scheme of Arrangement and the Scheme Consideration in the sum of 65 Kobo per share, which was duly approved by the Securities & Exchange Commission and circulated to the members of the Company has not been withdrawn by the majority shareholders of the Company, at whose behest, the Scheme is being proposed. The Company is however constrained to postpone the Court-Ordered Meeting convened to consider the Scheme due to unforeseen circumstances.
We sincerely regret any inconvenience caused to the members due to the postponement of the general meeting and will in due course announce a new date for the meeting.
