Tuesday, October 26, 2021

    LASACO Assurance Plc Completes Share Capital Reconstruction

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    We refer to our market bulletin of 1 February 2021 with reference number: NSE/RD/LRD/MB07/21/02/01, wherein the Market was notified that trading in the shares of LASACO Assurance Plc (LASACO or the Company) was placed on full suspension effective Monday, 1 February 2021 as a result of the Company’s proposed share capital reconstruction.

    Also refer to the subsequent extension of the suspension communicated to the Market through our market bulletin of 16 February 2021 with reference number: NSE/RD/LRD/MB10/21/02/16.

    The full suspension placed on trading in the Company’s shares was lifted on Monday, 22 February 2021 following the completion of the share capital reconstruction.

    Consequent to the completion of the reconstruction exercise, LASACO’s entire issued share capital of 7,334,343,421 ordinary shares of 50 Kobo each at N0.42 per share prior to the share capital reconstruction was delisted from The Nigerian Stock Exchange’s (The Exchange) Daily Official List, while the 1,833,585,855 ordinary shares of 50 Kobo each at N1.68 per share arising from the share capital reconstruction were listed on The Exchange’s Daily Official List on the same day.

    With the completion of the Company’s share capital reconstruction, the total issued and fully paid-up shares of LASACO Assurance Plc has now reduced from 7,334,343,421 to 1,833,585,855 ordinary shares of 50 kobo each.

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