Duale, Ovia & Alex-Adedipe Advises Prestige Assurance Plc On Its Rights Issue

Posted on Dec 23, 2020

Duale, Ovia & Alex-Adedipe (“DOA”) is pleased to have advised Prestige Assurance Plc (“Prestige”) on its Rights Issue of 13,635,796,006 Ordinary Shares of N0.50 each at 0.50 per share on the basis of thirty-eight (38) New Ordinary Shares for every fifteen (15) Ordinary Shares (the “Rights Issue”). The Rights Issue is to enable Prestige meet the revised minimum share capital of N10,000,000,000.00 (Ten Billion Naira), being the statutory requirement for the operation of General Insurance Business as stipulated by the National Insurance Commission which deadline is the 30th of September 2021.

The Firm’s transaction team was led by Adeleke Alex-Adedipe and Seye Ayinla together with Sodeek Oluwatobi Oyedeji, and Gloria Omomosi.