Tag: NEM Insurance
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Governance Issues Around NEM Insurance 48th AGM: Investigation and Outcomes
The latest decision by the Securities & Exchange Commission (SEC) on the issues relating to NEM Insurance Plc’s (NEM) 48th Annual General Meeting (AGM) held on Wednesday, 20 June 2018, at the Premier Hotel, Ibadan, Oyo State (Re: SEC Invalidates NEM Insurance Plc’s 48th AGM and Resolutions; Orders Firm to Reconvene Proper AGM) came on…
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SEC invalidates NEM Insurance’s 48th AGM
Nigeria’s Security Exchange Commission Tuesday invalidated the 48th annual general meeting of NEM Insurance held in June and all the resolutions reached at the meeting. The insurance was also mandated to reconvene the AGM, with proper notice given to shareholders and in line with extant laws. Nigerian Stock Exchange had fined the insurance company the…
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NSE fines NEM Insurance for contravening its Rulebook
The Nigerian Stock Exchange (NSE) has fined NEM Insurance Plc for contravening Rule 19.3 of its Rulebook. This was after the NSE received a complaint by Bernateva Partners – the solicitor to Eaton Acquisitions Limited, a major shareholder in NEM Insurance Plc – to reverse the decisions reached at the Annual General Meeting (AGM) held…
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Eaton Acquisitions increases stakes in NEM Insurance to nine per cent
Eaton Acquisitions Limited, an investment company, has increased its stake in NEM Insurance to 9%, days after it announced the acquisition of 4% of the insurance company. While the initial 130 million shares sold at ₦4 each, representing a premium of 40.35% against the closing share price of ₦2.85, the new shares were acquired at…