The equity price of AXA Mansard Insurance Plc was adjusted today 15th December 2020 for a scrip bonus of 17 new shares for 7 ordinary shares held as recommended by the Company Board of Directors.
The last close price was N2.20 on Monday, while the Ex-scrip price is N0.64, thus the opening price on Tuesday.
MANSARD has appreciated by 9.38% to N0.70 per share, the maximum possible for the stock on Tuesday.
Last week Investogist reported that, at an Extra-Ordinary General Meeting (EGM) of AXA Mansard Insurance Plc, Shareholders approved a distribution of 17 bonus shares for every 7 ordinary shares held. The approval was given along with others at the meeting held at the Oriental Hotel, No. 3, Lekki Road, Victoria Island, Lagos State, on Monday, December 7, 2020.
In total, 25,500,000,000 ordinary shares of N0.50K will be allotted as fully paid bonus shares to the Company’s shareholders standing in the register of members of the Company as of December 14, 2020.
The lowest price MANSARD traded in the past five was N1.44 per share in July 2020.
About the company
The Company was incorporated on 23 June 1989 as a private limited liability company called “Heritage Assurance Limited” and issued with a composite insurance license by the National Insurance Commission in March 2004.
The Company’s name was changed to Guaranty Trust Assurance Limited in September 2004 following the acquisition of a majority shareholding by Guaranty Trust Bank Plc and changed again to Guaranty Trust Assurance Plc in March 2006 following the increase in the number of members beyond the maximum required for a private company. In November 2009, the Company became listed on the Nigerian Stock Exchange.
The beneficial ownership of the Company changed to Societe Beaujon S.A.S (AXA S.A) in December 2014 by the acquisition of 100% of Assur Africa Holding (AAH). The Company modified its name and corporate identity to AXA Mansard Insurance Plc in July 2015.
The principal activity continues to be the provision of life and general business risk management solutions and financial services to corporate and retail customers in Nigeria.
The Company has two wholly-owned and two partly owned subsidiaries: AXA Mansard Investments Limited, AXA Mansard Health Limited, AXA Mansard Pensions Limited, and APD Limited a special purpose company which is now an indirect subsidiary.
AXA Mansard Investments Limited was incorporated as a private limited liability company on 9 January 2008 and its principal activity involves the provision of portfolio management services to both individual and corporate clients.
AXA Mansard Health Limited was incorporated as a private limited liability company on the 7th of August 2003 and its principal activities are to manage the provision of health care services through health care providers and for that purpose accredited with the National Health Insurance Scheme.
APD Limited was incorporated on 2 September 2010 for the purpose of leasing, holding, and developing the Company’s commercial property located at Plot 928A/B, Bishop Aboyade Cole Street, Victoria Island, Lagos to an ultra-modern office structure.
AXA Mansard Pensions Limited was incorporated on 1 February 2005 as a private limited liability company. The Company’s name was changed to AXA Mansard Pensions Limited in June 2015 following the acquisition of the majority shareholding of the company by AXA Mansard Insurance Plc. in January 2015.
The Company’s principal activity continues to be the administration and management of Pension Fund Assets in line with the provisions of the Pension Reform Act 2014 and the relevant National Pension Commission circulars
By: Ifunanya Ikueze