NEM Insurance announces proposed share reconstruction

Following the resolutions passed at the Annual General Meeting of NEM Insurance Plc on 24 June 2021, Trading License Holders has notified that Nigerian Exchange Limited has received an application from Apel Asset Limited for a proposed share reconstruction of NEM Insurance Plc.

The share reconstruction involves redenomination of the nominal value of the Company’s shares from N0.50 to N1.00, resulting in the consolidation of every 2 shares of N.50 each held in NEM Insurance Plc into 1 share of N1.00 each.

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