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Prestige Assurance Rights Issue of 13.6bn Opened for Subscription

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Prestige Assurance 13.6bn Rights Issue Opened for Subscription

Prestige Assurance Plc on Monday announced that its proposed rights issue of 13,635,796,006 ordinary shares of 50 Kobo each at 50 kobo per share on the basis of thirty-eight (38) new ordinary shares for fifteen (15) ordinary shares held as at 31 January 2020 has opened for subscription.

In the statement signed by the Company’s Head, Listings Regulation Department, Lilian Dako, and released on the Nigerian Stock Exchange (NSE), the company said acceptance list opened on Monday August 10, 2020.

While the acceptance list closes on Thursday, September 17, 2020.

Further to our Market Bulletin of 17 March 2020, with reference number: NSE/RD/LRD/MB21/20/03/17, Dealing Members are hereby notified that Prestige Assurance Plc’s Rights Issue of Thirteen Billion, Six Hundred and Thirty-Five Million, Seven Hundred and Ninety-Six Thousand, and Six (13,635,796,006) ordinary shares of 50 Kobo each at 50 Kobo per share on the basis of Thirty-eight (38) new ordinary shares for every Fifteen (15) ordinary shares held as at 31 January 2020, has opened for subscription,” the company stated.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.