AIICO Insurance Plc held its 50th Annual General Meeting on Tuesday, December 8, 2020 in line with COVID-19-related directives and guidelines. The AGM was streamed live to remove the limitations of physical barriers and enable its Shareholders and other stakeholders across the globe to follow the proceedings.
At the meeting, according to the statement by Head, Strategic Marketing & Communications, Segun Olalandu, the Company received the Shareholders’ approval to increase its authorized share capital from N18bn to N20bn by the creation of additional 4 billion ordinary shares of 50 kobo each.
In the same vein, the Shareholders also gave their nod for the declaration of 1 bonus share for every eight (8) ordinary shares held by existing Shareholders of the Company as at December 28, 2020 payable from retained earnings and 1 bonus share for every five (5) ordinary shares held by existing Shareholders of the Company as at December 28, 2020 payable from share premium.
The Chairman, Mr. Kundan Sainani, expressed his gratitude for the immense support the Company has received from its Shareholders. He assured them of the Board’s commitme
