AXA Mansard to commence share reconstruction

AXA Mansard Insurance has notified the investing public that it is set to commence its proposed share reconstruction upon approval from SEC and NAICOM.

In a notification available on the website of NGX, the company stated thus:

“Following the Extraordinary General Meeting of AXA Mansard Insurance Plc held on Monday, 07 December 2020, the Company secured the approval of its shareholders for the share reconstruction / redenomination of AXA Mansard’s shares from a nominal share value of N0.50 to N2.00.

Following the above shareholders’ approval, the Company also received necessary regulatory approvals from the National Insurance Commission (“NAICOM”) on Monday, 19 July 2021, and the Securities & Exchange Commission (“SEC”) on Monday, 16 August 2021 respectively.

In order to effect the share capital reconstruction, the shares of the Company will be suspended from trading on the Nigerian Exchange Limited on Thursday, 09 September 2021, so that the shareholders’ register can be updated with the reconstructed shares. Once this is concluded, the suspension will be lifted and trading on the shares shall recommence”.

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