International Energy Insurance Plc Suspends Disposal of Assets Due to NAICOM's Directive

Proshare

Friday, July 29, 2016 11:32am/ NSE 

Sequel to an earlier proposal to the Nigerian stock Exchange over the intent to dispose of International Energy Insurance PLC’S Investment in IEI Anchor Pensions Limited, a decision necessitated by the operational guideline of the National Insurance Commission (NAICOM), which prohibits investment of greater than 25% of proceeds from a private placement or public offer in a non-insurance asset, we wish to notify the Nigerian Stock Exchange and the general public that the process of divestment of IEI PLc's equity in IEI-Anchor Pension Limited was recently suspended due to NAICOM's directive to stand down the process. 

 

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