AIICO Insurance Plc has shifted its annual general meeting (AGM) from September 30 to December 8, 2020. The underwriting firm disclosed the change in the date of the AGM in a notification to the Nigerian Stock Exchange yesterday.
“This change in date is occasioned by the delay in concluding a number of transactions earmarked as conditions precedent to the AGM. One of the conditions is(but not limited to)the conclusion of rights issue to the shareholders of the company which although has now commenced, was delayed majorly because of the issues arising from the COVID-19 pandemic,” it said.
AIICO Insurance Plc is currently issuing 4,357, 770,954 ordinary shares of 50 Kobo each at 80 Kobo on the basis of five new ordinary shares for every 13 ordinary shares to raise about N3.486 billion.