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.
Read also: Niger Insurance gets shareholders approval on recapitalisation plans
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.
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
