AXA Mansard Insurance Proposes Share Consolidation and Bonus Issue

The Board of Directors Of AXA Mansard Insurance Plc has passed a resolution to carry out share consolidation and issuance of bonus shares exercise required to take the Company’s share capital to N18 billion.

According to the statement by the Board of the company, available on the website of the Nigerian Stock Exchange:

“The bonus issue exercise may be done at once or in phases provided the Company meets the September 30, 2021 deadline set by the Commission.

“Subject to regulatory approvals, the Company would hold an Extra Ordinary General Meeting to obtain shareholders’ approval of the Share consolidation and Bonus Share.”

“That the Board and Management be and are hereby authorized to appoint such advisers, professionals and parties that they deem necessary, upon such terms and conditions that the Directors may deem appropriate with regard to the aforementioned Share Consolidation and Bonus Issue Exercise.

“That the Board of Directors be and are hereby authorized to take all steps and do all acts that they deem necessary for the successful implementation of the above stated resolutions.”

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