AIICO Insurance Plc (NSE ticker – AIICO) equity price was adjusted on Thursday 24 September for the share bonus of one (1) new ordinary share for every five (5) held, as recommended by the Board of Directors of the company.
The Board of Director of AIICO approved the bonus shares at a meeting held on May 12, 2020 with the qualification date initially set as 25 June 2020, however it was later pushed forward to Wednesday 23 September 2020.
Following the adjustment, the ex-scrip price on Thursday is N0.72 in accordance with a closing price of N0.86 on Wednesday.
The company will hold it’s Annual General Meeting on Wednesday, 30th September 2020.
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At the same meeting held on 12 May 2020, the Board of Directors resolved and approved to offer 4,357,770,954 ordinary shares of 50kobo each at N0.80 per share to eligible shareholders by way of rights issue, at a basis of five (5) new ordinary shares for every thirteen (13) held as at Monday 15 June 2020.
Rights Issue details
- The rights price – N0.80.
- Acceptance opening date – Wednesday 2 September 2020
- Acceptance closing date – Wednesday 7 October 2020.
- Registrar – United Securities Limited
- Issuing house – Stanbic IBTC Capital
- Rights Trading – Tradeable on the Nigerian Stock Exchange
AIICO is into the business of provision of insurance services to individuals and corporate clients and investment.