December 13, 2021/NGX

Following the resolutions passed at the Annual General Meeting of NEM Insurance Plc, (NEM Insurance or the Company) on 24 June 2021, Trading License Holders are hereby notified that Nigerian Exchange Limited has received an application from Apel Asset Limited for a proposed share reconstruction of NEM Insurance Plc.

The share reconstruction involves redenomination of the nominal value of the Company’s shares from N0.50 to N1.00, resulting in the consolidation of every 2 shares of N.50 each held in NEM Insurance Plc into 1 share of N1.00 each.

Analysis of the Company’s share capital, pre and post share reconstruction, is provided in the table below:

Further information regarding the Share Reconstruction will be communicated in due course.