{"id":951,"date":"2021-02-17T13:55:16","date_gmt":"2021-02-17T13:55:16","guid":{"rendered":"http:\/\/mainstreetcapltd.com\/?post_type=news&p=951"},"modified":"2021-03-22T14:00:00","modified_gmt":"2021-03-22T14:00:00","slug":"sunu-assurances-nigeria-plc-completes-share-capital-reconstruction-and-announces-results-of-its-private-placement-of-3-01bn-ordinary-shares","status":"publish","type":"news","link":"https:\/\/mainstreetcapltd.com\/sandbox\/news\/sunu-assurances-nigeria-plc-completes-share-capital-reconstruction-and-announces-results-of-its-private-placement-of-3-01bn-ordinary-shares\/","title":{"rendered":"Sunu Assurances Nigeria Plc Completes Share Capital Reconstruction and announces Results of Its Private Placement of 3.01bn Ordinary Shares"},"content":{"rendered":"\n
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Share Capital Reconstruction<\/h3>
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We refer to our\u00a0market bulletin<\/a>\u00a0of 19 October 2020 with reference number: NSE\/RD\/LRD\/MB58\/20\/10\/19, wherein the Market was notified that trading in the shares of\u00a0Sunu Assurances Nigeria<\/a>\u00a0Plc (Sunu Assurances or the Company) was placed on full suspension effective Monday, 19 October 2020 as a result of the Company’s proposed share capital reconstruction.\u00a0\u00a0<\/p>\n

The full suspension placed on trading in the Company’s shares was lifted on Tuesday, 3 November 2020 following the completion of the share capital reconstruction. Subsequently, Sunu Assurances’ entire issued share capital of 14,000,000,000 ordinary shares of 50 Kobo each prior to the share capital reconstruction was delisted from The Nigerian Stock Exchange’s (The Exchange) Daily Official List, while the 2,800,000,000 ordinary shares of 50 Kobo each arising from the share capital reconstruction were listed on The Exchange’s Daily Official List on the same day.\u00a0\u00a0<\/p>\n

With the completion of the Company’s share capital reconstruction, the total issued and fully paid up shares of Sunu Assurances Nigeria Plc has now reduced from 14,000,000,000 to 2,800,000,000 ordinary shares of 50 kobo each. This is for your information and records update, please.<\/p>\n

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Private Placement of 3.01bn Ordinary Shares<\/h3>
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Sunu Assurances Nigeria announced the result of the Private Placement exercise of 3,010,800,000 ordinary shares of 50 kobo each at N1.00 per share, with respect to the Private Placement Memorandum dated Monday, January 4, 2021.<\/p>\n