Shareholders endorse Consolidated Hallmark Insurance’s Holdco structure


Shareholders have approved the proposed Holding Company (HoldCo) for Consolidated Hallmark Insurance (CHI) Plc and all scheme of arrangement pursuant to Section 715 of the Companies and Allied Matters Act, 2020.

The shareholders gave the approval at the company’s Court Ordered Meeting held on Tuesday in Lagos, held both virtually and physically.

In accordance with the Scheme of Arrangement, the 10,840,000,000 ordinary shares of 50k each in the issued and paid-up shared capital of the company and held by the shareholders would be transfered to Consolidated Hallmark Holdings Plc.

The shares would be transfered in exchange for the allotment of 10.84 billion ordinary shares of 50k…

Source: Nigerian Tribune