Lasaco Assurance Plc (NGX: LASACO) has announced that it will be holding an Extraordinary General Meeting (EGM) on December 9, 2025.
According to the notice signed by Gertrude Olutekunbi, the Company Secretary, on behalf of the Board, the company is seeking shareholders approval to raise fresh capital through a mix of Private Placement and Rights Issue—and the new shares will rank pari passu with existing ones. It’s also proposing to increase its minimum share capital from ₦11.08 billion to ₦36.08 billion to make room for this expansion.
The directors are also asking shareholders to give them the green light to appoint advisers, finalize agreements, and handle all the paperwork required to complete the capital raise. The Company Secretary will take charge of ensuring that all approved resolutions are filed and implemented at the Corporate Affairs Commission.
The meeting will be held virtually on YouTube, and shareholders who can’t attend can still participate by sending in proxy forms—these must get to the Registrars at least 48 hours before the meeting. You can also send in questions ahead of the EGM through the company’s official email.
The proposed capital increase reflects the company’s efforts to strengthen its balance sheet, comply with regulatory expectations in the insurance sector, and position itself for expansion. If approved, the capital raise is expected to enhance the company’s underwriting capacity and overall competitiveness in Nigeria’s insurance market.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
