LASACO Assurance completes share capital reconstruction

LASACO Assurance Plc has announced the completion of its share reconstruction exercise of about 7.3 million ordinary shares.

This is according to disclosure contained in the NSE weekly report at the weekend.

LASACO Assurance Plc had earlier announced obtaining regulatory approval to reconstruct 7,334,343,421 ordinary shares of 50 kobo each at N0.42 per share in the ratio one (1) new ordinary shares for every four (4) ordinary shares previously held by its shareholders.

In a bid to facilitate the reconstruction exercise, trading in the shares of LASACO Assurance Plc was initially placed on full for (2) weeks, and further extended by a week. Sequel to the completion of the share reconstruction exercise, the was subsequently lifted on the 22nd of February, .

Consequently, LASACO’s entire issued share of 7,334,343,421 ordinary shares of 50 Kobo each at N0.42 per share prior to the share reconstruction was delisted from the ’s daily official list, while the 1,833,585,855 ordinary shares of 50 Kobo each at N1.68 per share arising from the share reconstruction were listed on the exchange’s daily official list on the same day.

Sign Up Now

ePaper Subscription

Be the first to comment

Leave a Reply

Your email address will not be published.