Consolidated Hallmark Insurance Plans Private Placement

Consolidated Hallmark Insurance Plc (CHI) is preparing for a private placement that will inject fresh capital into the company and bring in new investors. In order facilitate the private placement, the company would be having an extra-ordinary meeting (EGM) on November 28, in Lagos, to get the approval of the shareholders will give their authorisation to the directors. The directors are requesting that the authorised share capital of CHI Plc be increased from N5 billion divided into 10 billion ordinary shares of 50 kobo each to N7.5 billion ordinary shares divided into 15 billion ordinary shares with the creation of additional five billion ordinary shares of 50 kobo each.In a notification to the Nigerian Stock Exchange (NSE) regarding the EGM, the directors want to get the authorisation of shareholders to allot 1.130 billion units of ordinary shares of 50 kobo each at 65 kobo per share through a private placement. Read More: