AIICO postpones AGM

AIICO Insurance Plc has moved its annual general meeting from September to December 2020.

The underwriting firm disclosed this in a notification to the Nigerian Stock Exchange on Wednesday.

“This change in date is occasioned by the delay in concluding a number of transactions earmarked as conditions precedent to the AGM.

“One of the conditions is (but not limited to) the conclusion of rights issue to the shareholders of the company which although has now commenced, was delayed majorly because of the issues arising from the COVID-19 pandemic,” it said.

AIICO is currently issuing 4,357,770,954 ordinary shares of 50 Kobo each at 80 kobo on the basis of five new ordinary shares for every 13 ordinary shares to raise about N3.486bn.

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