LASACO sets for 1 for 4 share reconstruction

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LASACO Assurance P1c, an active player in Nigeria’s sector said it had obtained regulatory approvals to reconstruct its issued and fully paid-up Share Capital of 7,334,343,421 Ordinary shares of S0kobo each in the ratio One (1) new Ordinary share for every Four (4) Ordinary shares previously hetd by the shareholders of LASACO Assurance Plc.

In a notice at the Nigerian Stock Exchange, LASACO said the move followed the approval of the shareholders at the 39th Annual General Meeting of the company held on 8th October, 2019.

To enable the reconstruction of the shares, the company had given notice of the suspension of trading on the shares of LASACO for two weeks beginning from Monday Ist February, 2021 to Friday 12th February, 2021 both days inclusive.

“The Register of shareholders shall be closed for this period to enable the Central Securities Clearing Systems P1c.(CSCS) and Apel Capital Registrars Limited, the Registrars to LASACO, to finalize the Reconstruction of the shares and produce a new Register for the Company,” the notice said.

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