Niger Insurance gets shareholders’ approval to raise N15bn additional capital

The shareholders of Niger Insurance Plc have approved for the directors of the company to take all necessary steps to raise additional capital of up to N15billion. They gave the approval at the company’s 49th Annual General Meeting (AGM) held in Lagos.

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The shareholders approved for the capital raise be by way of rights issue, private placement or to negotiate merger and acquisition or any other form of business combination or other arrangement or a combination of methods with Insurance companies and that the rights issue be executed at such price, time and on such other terms and conditions as the directors may deem fit.

At the meeting, the shareholders received and approved the company’s financial statements for the year ended December 31, 2018 and the report of Audit Committee, Directors and Auditors.