Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In Proshare - RSS Feed

Prestige Assurance Plc. - Proposed Share Reconstruction

Proshare

Wednesday, August 30, 2017 / 3:40 PM / NSE

Dealing Members are hereby notified that Prestige Assurance Plc. (“Prestige’’ or ‘’the Company’’) has made an application to The Nigerian Stock Exchange for a “No Objection” to its proposal to reduce the Company’s share capital from N2, 685,216,000 being 5,370,432,000 ordinary shares of 50 kobo each to N1, 908,705,000 being 3,817,410,000 ordinary shares of 50 kobo each in the issued and fully paid up ordinary shares of the Company. The share capital so reduced will be applied in writing off the capital of the Company which is lost or unrepresented by available assets.

Prestige explained that the essence of the capital reconstruction is to enable the Company wipe out its accumulated retained losses of N776, 511,000. It stated further, that the reconstruction will reposition the Company on a trajectory for subsequent accumulated retained profit, create more value to its shareholders, allow the Company to declare dividend and improve its perception in the market thereby making it more competitive.

The foregoing is for your attention and information.

Related News

1.      
PRESTIGE Declares N349.75 million PAT in Q2'17 Result,(SP:N0.50k)
2.     
PRESTIGE Declares N243.34 million PAT in Q1'17 Result,(SP:N0.50k)
3.     
Prestige Assurance Plc Announces Filing of its 2016 Audited Financial Statement
4.     
PRESTIGE Declares N118.40 million loss in 2016 Audited Result,(SP:N0.50k)
5.     
PRESTIGE Declares N288.79 million PAT in Q3'16,(SP:N0.50k)
6.     
PRESTIGE Declares N189.12 million PAT in Q2'16,(SP:N0.50k)
7.     
PRESTIGE Declares N145.29 million Loss in 2015 Audited Results,(SP:N0.50k)
8.    
PRESTIGE Declares N5.62 million PAT in Q3'15,(SP:N0.50k)
9.     
PRESTIGE Appoints Hassan Musa Usman as Board Chairman; Gopalan Srinivasan steps down
10. 
PRESTIGE Appoints Mr G. Srinivasan as Board Chairman

READ MORE:
Related News