SEC Approves Extension of Prestige Assurance Rights Issue

BY NKECHI NAECHE-ESEZOBOR-The Nigeria’s Securities and Exchange Commission (SEC) has approved the extension of Prestige Assurance Plc rights issue to close Wednesday, 30 September 2020.

According to notice released by the Nigerian Stock Exchange and made available to BusinessToday Online that further to the Market Bulletin of 10 August 2020 with reference number: NSE/RD/LRD/MB39/20/08/10, market stakeholders are hereby informed of the extension of the offer period of Prestige Assurance Plc’s Rights Issue of 13,635,796,006 ordinary shares of N0.50 each at N0.50 per share on the basis of thirty-eight (38) new ordinary shares for every fifteen (15) ordinary shares held as at the close of business on 31 January 2020 (the Offer).

The notice further stated that the Exchange has received a confirmation from the Securities and Exchange Commission to extend the offer period by two (2) weeks. With this extension, the Offer which was initially scheduled to close on Thursday, 17 September 2020 will now close on Wednesday, 30 September 2020.


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