Shareholders of Linkage Assurance Plc (NGX: LINKASSURE) have approve the recommendation of the Directors to capitalize ₦1.54 billion of the Company’s retained earnings for bonus issue, and that the bonus shares be distributed to shareholders whose name appear in the Register of members at the close of business on 11 July 2025.
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The said ₦1.54 billion will be divided into 3,080,000,000 ordinary shares of 50k each and will be appropriated in the proportion of 1 share for every 5 shares owned. The share distribution is subject to the approval of the appropriate regulatory authorities and will be treated for all purposes as capital and not income, ranking pari passu with the existing shares issued pursuant to this resolution.
Approval for the share bonus creation and distribution was given at the Annual General Meeting of the Company held on Thursday 31 July 2025, at Agip Recital Hall, MUSON Centre 8/9 Marina Onikan, Lagos.
For the purpose of the Bonus shares, the Share Capital of the Company was increased from ₦7,700,000,000 to ₦9,240,000,000 by the creation and addition thereto, of 3,080,000,000 Ordinary Shares of 50 kobo each, such new shares to rank pari passu in all respects with the existing Ordinary Shares in the capital of the Company.
Linkage Assurance Plc was incorporated in Nigeria on 26th of March 1991 as a private limited liability
company domiciled in Nigeria. It was registered by the National Insurance Commission on the 7th of October 1993 to transact general insurance business and commenced operations in January, 1994.
The Company became a public limited liability company in 2003 and the Company’s shares, which are quoted on the Nigerian Stock Exchange were first listed on 18 November 2003. The registered office of the Company is Plot 20 Block 94 Lekki-Epe Express way, Lekki, Lagos, Nigeria.
The Company was registered to transact all classes of life and non-life insurance business, insurance claims payment and investments. Subsequently, it disposed its life business in February 2007 and concentrated on the non-life insurance business.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
