Sunu Assurances Nigeria Plc through its stockbroker, FSDH Securities Limited, has submitted an application to the Nigerian Stock Exchange (NSE) for share capital reconstruction.
Dealing Members of the Exchange were notified that this follows the special resolutions passed by the shareholders of Sunu Assurances Nigeria Plc at the Extra-Ordinary General Meeting (EGM) held on March 9, 2020.
The share capital reconstruction will result in the cancellation of four (4) existing ordinary shares out of every five (5) ordinary shares of Sunu Assurances Nigeria Plc held by its existing shareholders.
The total number of issued ordinary shares post the capital reconstruction exercise will be 2.8billion ordinary shares of 50kobo each while a total of 11.2billion ordinary shares of 50kobo each will become canceled and unissued.
The Qualification Date for the capital reconstruction was Friday, October 16, 2020, while trading in the Company’s shares will be placed on suspension effective Monday, October 19, 2020.
