By Rosemary Iwunze
AIICO Insurance Plc has received its shareholders’ nod for the issuance of bonus shares.
Accordingly, shareholders whose names appear on the register of members by November 23, 2021 will get a bonus of 12 shares for every nine shares held.
Addressing shareholders at the company’s annual general meeting in Lagos, Chairman of AIICO Insurance, Mr. Kundan Sainani, said that the issuance of the bonus shares cleared the path for the Company to meet up with new capital requirements from NAICOM, adding that it strengthens the company’s market position on its journey to being the dominant insurer in sub-Saharan Africa.
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Sainani stated: “Shareholders will recall that at about this same time last year, we were constrained to hold a virtual meeting by virtue of the then rampaging COVID–19. While we are doing so again today, it is our hope and desire that in the nearest future,…
Source: Vanguard Newspaper