Stock & Analyst Updates | |
Stock & Analyst Updates | |
301 VIEWS | |
![]() | |
PROSHARE | |
PROSHARE |
Wednesday, March 11, 2020 / 1:05 PM / NSE / Header Image Credit: SUNU Assurances
At the Extra-Ordinary General Meeting of SUNU
Assurances Nigeria Plc ("the Company") held on Monday, 9th March,
2020 at Rose Hall, Orchid Hotels Limited, Plot 3, Dreamworld Africana Way,
Lekki Expressway, Lagos State, the following resolutions contained in the
Notice of the Extra-Ordinary General Meeting were presented to the Shareholders
and were unanimously resolved as special resolutions:
1. The share
capital of the Company should be reconstructed by the cancellation of four (4)
existing ordinary shares out of every five (5) ordinary shares
held by members of the Company. The total number of issued ordinary shares post
the reconstruction exercise would be 2,800,000,000 (Two Billion, Eight Hundred
Million) ordinary shares while 171,200,000,000 (Eleven Billion, Two Hundred
Million) ordinary shares would be
cancelled and unissued.
2. The
Company is authorized to repurchase the fractional shares arising from share
Capital reconstruction in line with the provision of section 160(2) (b) of
CAMA.
3.
The
Company is authorized to alter its MEMART to reflect its new share capital
following the share reconstruction exercise;
4. The
Company is authorized to raise, whether by rights issue, public offering,
private/special placement, book building or other methods or combination of
methods, additional capital of N8,000,000,000.00 (Eight Billion Naira) or its
equivalent in any foreign currency by way of issuance of ordinary shares,
preference shares, convertible or non-convertible loans, stocks, medium-term
notes, bonds or other securities in such tranches, series or proportions at
such coupon or interest rates within such maturity periods and on such other
terms and conditions including the provision of security for payment as the
Directors may deem fit:
5.
The
Company is authorized to refinance the debt owed to Daewoo Securities (Europe)
Limited with an option to convert the debt to equity at the prevailing market
price;
6.
The
Directors are authorized to approve, sign, negotiate and/or execute all
documents, appoint such professional parties and advisers, as may be necessary
to give effect to the above resolution, including without limitation, obtaining
all approvals/authorizations and/or complying with the directives of any
judicial/regulatory authority; and all acts carried out, steps taken and
documents executed (or to be executed), by the directors and/or management of
the company in connection with the above resolutions;
7. The
Directors are authorized to take any actions in connection with the above
resolutions as they consider necessary and advisable in the circumstance: and
8. The
Directors should take requisite steps to reflect the changes in the
shareholding structure of the company at the Corporate Affairs Commission,
including the filing of a new and consolidated Form CAC 2A (Return of Allotment
Post Incorporation) detailing the names and
particulars of all shareholders of the company, following the completion of the
transaction.
Visit SUNU Assurances Nigeria Plc IR Page in Proshare MARKETS
Graph - One Year Share Price Movement
Table: Unaudited Q3 2019 Results
Related News
1.
EQUITYASUR Declares N366m Loss in Q3'19,(SP:N0.20k)
2. EQUITYASUR Notifies Of Board Meeting And Closed Period
3. EQUITYASUR Declares N174.49m Loss in Q2 2019
Results,(SP:N0.23k)
4. SUNU ASSURANCES NIGERIA PLC (formerly EQUITYASUR) Declares
N222.44mln Loss in Q1 2019 Results
5. EQUITYASUR Declares N416.994m Loss in Q3 2018
Results,(SP:N0.23k)
6. EQUITYASUR Declares N622.91m Loss in Q2 2018
Results,(SP:N0.24k)
7.
EQUITYASUR Declares N295.90 Loss in Q1 2018
Results,(SP:N0.29k)
8. EQUITYASUR Declares N5.67m PAT in 2017 Audited
Results,(SP:N0.29k)
9. EQUITYASUR Declares N268.33 million loss in
Q3'17,(SP:N0.50k)
10. EQUITYASUR Declares N171.44 million PAT in Q2'17
Result,(SP:N0.50k)
11. EQUITYASUR Declares N296.36 Million PAT in
Q1'17,(SP:N0.50k)