SEC Approves Prestige Assurance Bonus of 41 for Every 100 Shares Held


BY NKECHI NAECHE—-The Nigeria’s Securities and Exchange Commission( SEC) on Wednesday said its has approved Prestige Assurance Plc Bonus of 41 for Every 100 Shares Held.

The notice further reads: “This is to inform the general public that at the Annual General Meeting of the Prestige Assurance Plc held on 11th of June 2018, the following resolution was passed by the Shareholders of Prestige Assurance Plc as follows:

“That the Directors be and are hereby authorized to issue bonus shares from its share premium account in the sum of N782,569,517.00 being 41 new shares for every 100 share held thereby increasing the issued share capital of the company from N1,908,706,140 to N2,691,275,658 by issuing 1,565,139,035 ordinary shares of N0.50 kobo each to shareholders who are on the register of members at a date to be determined”

Based on this premise, Prestige Assurance Plc approached the Security & Exchange Commission to register the bonus share and approval was subsequently granted on the 9th of November, 2018.

Accordingly, we are pleased to advise as follows:

Basis of Bonus: 41 shares to every 100 shares held

Qualification Date: 27th of November, 2018

Closure of Register: 28th of November to 5th of December, 2018, both days inclusive


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