Coronation Insurance Plc to delist from NGX

Coronation Insurance Plc (formerly Wapic Insurance) has notified the shareholders of its resolutions to delist from the Nigerian Exchange upon the complete acquisition of its shares by Coronation Capital (Mauritius) Limited at 65 kobo.

In a notification available on the website of the Nigerian Exchange (NGX), part of the resolutions from the Court Ordered meeting by Coronation Insurance Plc can be found below:

“That as consideration for the transfer of the Scheme Shares, each holder of the Scheme Shares shall receive the sum of 65 Kobo per share”.

 “Nigerian Exchange Limited (the “NGX”) and the Central Securities Clearing System Plc (the “CSCS”) shall be notified and requested to terminate trading in the shares with effect from the Eligibility Date and no trading or transfer of the Company’s shares shall be registered after that date.”

“That conditional upon the Scheme becoming effective, the Company’s shares shall be de-listed from NGX on the Eligibility Date and following that date, all the share certificates representing the interests of the Scheme Shareholders Consideration (as defined in the Scheme Document) and in the case of dematerialised share certificates, all the shares of the Company that were lodged with the CSCS shall cease to be valid or to have any value”.

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