LASACO Notifies Of Addendum To The Original Notice of AGM Dated August 19, 2019

Proshare

Tuesday, September 03, 2019 /11:55AM /NSE 


Notice is hereby given that Item No. 9 is to be transacted as part of the Original notice, dated August 19th, 2019, in respect of the 39th Annual General Meeting of the Members of Lasaco Assurance Plc to be held on Thursday September 12, 2019 at 11 am at City Hall Lagos Island, Lagos, shall be amended by adding the following as Special resolution.


Special Business


Item No. 9: Special/Private Placement

Special notice is hereby given by the Company to the members.

1. That the Board of directors be and are hereby authorized subject to the approval of the relevant regulatory authorities to raise additional capital through the issuance of up to 9,250,000,000 Ordinary shares of N0.50k each at N1.20k per share by way of Special/private placement.

2. That the shares proposed to be issued pursuant to the above resolution and the rights attaching thereto shall rank at parri passu with ordinary shares held by the existing members of the Company.

3. That the sum of N2,749,379,000 representing the surplus nominal value of the reconstructed shares be transferred into the Share Reserve Account and form part of the Shareholders Funds of the Company.

4. That the reconstructed 1,833,586,000 Ordinary Shares of 50k each, be revalued in accordance with the ratio of reconstruction, subject to appropriate regulatory consent and be listed on the Nigerian Stock Exchange.

5. That the Board of Directors be authorized to exercise all the powers of the Company to modify and or conclude the terms of the Special/private placement, seek approvals from the relevant regulatory authorities, appoint professional parties and advisers, finalize and executive all agreements or documents and to do all such acts and deeds which the Board of Directors in its absolute discretion may deem necessary and expedient for the purpose of the Special /private placement without being required to seek further consent or approval of members of the Company or otherwise to the end and intent that they shall be deemed to have given approval thereto expressly by the authority of this resolution.


Proshare Nigeria Pvt. Ltd.


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