By Dipo Olowookere
The total issued and fully paid-up shares of Consolidated Hallmark Insurance (CHI) Plc has increased to 10,704,500,000 ordinary shares of 50 kobo each.
This followed the listing of additional shares of the company on the Nigerian Stock Exchange (NSE) on Thursday, August 20, 2020.
A few days ago, precisely on Tuesday, Business Post reported that the rights issue of the company recorded a 100 per cent subscription level.
During the exercise, the organisation offered for sale to its shareholders a total of 2,032,500,000 ordinary shares of 50 kobo each at a unit price of 52 kobo.
After the sale, the board has listed the shares from the rights issue, increasing the outstanding shares of the company by 2,032,500,000 units from the initial 8,672,000,000 units.
Confirming this development, the stock exchange issued a circular to stockbrokers today, saying “Dealing members are hereby notified that additional 2,032,500,000 ordinary shares of Consolidated Hallmark Insurance were today, Thursday, August 20, 2020, listed on the daily official list of the exchange.”
“The additional shares listed on the exchange arose from the company’s rights issue of 2,032,500,000 ordinary shares of 50 kobo each at 52 kobo per share on the basis of one new ordinary share for every four ordinary shares held as at February 3, 2020,” the notice explained.
“The rights issue was 100 per cent subscribed,” it added, noting that, “With this listing of the additional 2,032,500,000 ordinary shares, the total issued and fully paid-up shares of Consolidated Hallmark Insurance Plc has now increased from 8,672,000,000 ordinary shares to10,704,500,000 ordinary shares of 50 kobo each.”
Adedapo Adesanya