The Securities & Exchange Commission (SEC), on November 9, 2018, have registered a proposal by directors of Prestige Assurance Plc to issue 1.565bn ordinary shares as bonus, as approved by shareholders at the company’s annual general meeting on June 11, 2018.
A statement to the Nigerian Stock Exchange (NSE) by Abayomi Odulana, company secretary of Prestige Assurance on Wednesday noted that the bonus shares will be distributed in the ratio of 41 new shares for every 100 currently held.
While qualification date is November 27, the register of shareholders will be closed from November 28 and December 5, 2018.
Following the approval, the issued share capital of the company is being raised by the issuance of 1.565bn ordinary shares, increasing the share capital from N1.908bn, to N2.691bn.