Universal Insurance Plc Proposed Merger with African Alliance Insurance Plc

Proshare

Monday, April 8, 2013 / NSE

APT Securities and Funds Limited, as Broker to one of the parties in the proposed business combination; African Alliance Insurance Plc. has submitted a Pre-Merger Notice to The Exchange of the proposed merger between Universal Insurance Plc and African Alliance Insurance Plc. Upon consummation of the Merger, all the shareholders of African Alliance Insurance Plc will in exchange for each share held in African Alliance Insurance receive such share(s) in Universal, the surviving entity, as agreed by the Parties. Post-Merger, it is the intention of the Parties to change the name of the surviving entity to Universal Alliance Insurance Plc.

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