Continental Re-Insurance Plc Placed on Full Suspension Over Proposed Scheme of Arrangement

Proshare

Friday, January 04, 2019 05:50 PM / NSE

 

Continental Reinsurance Plc (CRe) has through its Stockbroker; Chapel Hill Denham Securities Limited requested for a full suspension on the trading on its shares on The Exchange. 

This is necessary to determine the shareholders that will qualify to receive the scheme consideration following the resolutions passed by the shareholders of CRe at the Court Ordered Meeting held on 20 December 2018 in favour of the proposal by CRe African Investments Limited (a major shareholder of the CRe) to acquire all the outstanding and issued shares of CRe for cash or shares. 

Consequently, trading in the shares of Continental Reinsurance Plc was suspended effective, 31st December, 2018.


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