Insurance World

Prestige Assurance Revises Terms of its Proposed Rights Issue

Prestige Assurance Plc has notified of the revised terms to the proposed Rights Issue by Prestige Assurance Plc (the Company).

According to the notice to the Nigerian Stock Exchange that further to the Market Bulletin with Reference Number: NSE/RD/LRD/MB07/20/01/31, dated 31 January 2020 on the above subject, NSE hereby notified of the revised terms to the proposed Rights Issue by Prestige Assurance Plc (the Company).

The revised terms of the Rights Issue are as follows: Thirteen Three Billion, Six Hundred and Thirty-Five Million, Seven Hundred and Ninety-Six Thousand, and Six (13,635,796,006) ordinary shares of 50 kobo each at 50 kobo per Share on the basis of 38 new Ordinary Shares for every 15 Ordinary Shares held as at the close of business on Friday, 31 January 2020.

The table below highlights key terms of the Rights Issue and reflects where there are changes:

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