NSE lifts suspension on LASACO Assurance
By Ngozi Onyeakusi—– Following completion of its share reconstruction, Nigerian Stock Exchange (NSE) yesterday lifted its suspension placed on LASACO Assurance Plc.
In a circular, the NSE stated that “the full suspension placed on trading in the company’s shares was lifted on Monday, 22 February 2021 following the completion of the share capital reconstruction”. According to the Exchange, consequent to the completion of the reconstruction, LASACO’s entire issued share capital of 7.334 billion ordinary shares of 50 Kobo each at 42 kobo per share prior to the share capital reconstruction was delisted from the NSE’s Daily Official List, while the 1.834 billion ordinary shares of 50 Kobo each at N1.68 per share arising from the share capital reconstruction were listed on the Exchange’s Daily Official List on the same day. “With the completion of the company’s share capital reconstruction, the total issued and fully paid up shares of LASACO Assurance Plc has now reduced from 7,334,343,421 to 1,833,585,855 ordinary shares of 50 kobo each,” NSE stated. LASACO Assurance cancelled 5.5 billion ordinary shares of 50 kobo each, 75 per cent of its pre-reconstruction