Regency Alliance Insurance Plc (NGX: REGALINS) will issue a bonus of 4 units of shares for every 5 units held by a Shareholder. The shares will be issued to such Shareholders subject to regulatory approval at the close of the register.
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The Board of Directors of the Insurer approved the resolution to issue the share bonuses at its meeting on Friday, 23rd August, 2024.
In a regulatory filing, the company informed that the following resolutions were proposed and duly passed at the Board meeting.
- That the Audited Financial Statements of the Company for the year ended 31st December 2023 is approved.
- That a bonus of 4 units of shares for every 5 units held by a Shareholder on the register of Shareholders at the close of the register be issued to such Shareholders subject to regulatory approval.
- That the Management is hereby authorised to submit the Audited Financial Statements for the year ended 31st December 2023 to the National Insurance Commission (NAICOM) for approval.
- That the Unaudited Financial Statements of the Company for the first quarter ended 31st March 2024 and the second quarter ended 30th June 2024 are approved.
- That the Management is authorised to file the Audited Financial Statements for the year ended 31st December 2023 with the NGX upon receipt of NAICOM’s approval.
- That the Management is authorised to file the Unaudited Financial Statements for the 1st and 2nd quarters with the NGX upon filing of the Audited Financial Statements for the year ended 31st December 2023.
- That further decision on the 30th Annual General Meeting of the Company will be taken upon the approval of the Audited Financial Statements by NAICOM.
Regency Alliance Insurance Plc has 6,668,750,000 outstanding shares and a market capitalization of N3.00 billion.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur