NSE receives SEC approval to extend Prestige Assurance rights issue

Prestige Assurance Plc has announced the extension of offer Period for the rights Issue of 13,635,796,006 Ordinary Shares of 50 Kobo Each at 50 Kobo Per Share on the Basis of 38 New Ordinary Shares for 15 Ordinary Shares Held.

The statement to Nigerian Stock Exchange (NSE) stated that, “Further to our Market Bulletin of 10 August 2020 with reference number: NSE/RD/LRD/MB39/20/08/10, Dealing Members are hereby informed of the extension of the offer period of Prestige Assurance Plc’s Rights Issue of 13,635,796,006 ordinary shares of N0.50 each at N0.50 per share on the basis of thirty-eight (38) new ordinary shares for every 15 ordinary shares held as at the close of business on 31 January 2020 (the Offer).

“The NSE has received a confirmation from the Securities and Exchange Commission to extend the offer period by two weeks.

“With this extension, the Offer which was initially scheduled to close on Thursday, 17 September 2020 will now close on Wednesday, 30 September 2020.”