NSE extends suspension of LASACO till further notice

The Nigerian Stock Exchange has announced the extension till further notice of the full suspension placed on trading in the shares of LASACO Assurance Plc.

The NSE had on February 1 suspended trading in the shares of the company for two weeks as part of the process leading to its share reconstruction, which was approved by its shareholders in 2019.

LASACO’s shareholders had at the Annual General Meeting of the company on October 8, 2019 authorised the board to carry out the exercise.

In its latest notice to dealing members, the NSE said, “Please refer to our market bulletin of 1 February 2021 with reference number: NSE/RD/LRD/MB07/21/02/01, notifying the market of the placement of full suspension on trading in the shares of LASACO Assurance Plc, in order to determine shareholders eligible for the share capital reconstruction as at the qualification date of 29 January 2021.

“Dealing members are hereby notified that the full suspension placed on trading in the shares of LASACO has been extended in order to enable the company to complete the reconstruction exercise and to allot the reconstructed shares to eligible shareholders. The extended period of suspension is from 15 February 2021 till further notice.”