International Energy Insurance is having a virtual shareholder meeting at the end of the year. The main topic is a plan to raise up to 17.5 billion naira. This cash is needed to meet the new capital rules under the recent insurance reform act.
A key part of the proposal involves converting an existing deposit. Norrenberger Advisory Partners would turn a two billion naira deposit from 2023 into equity. Shareholders will vote on creating over a billion new shares for this conversion. The company says its recent turnaround, called the 10x Story, shows a stronger foundation for growth. Instructions for joining the online meeting and voting have been sent to investors.
A key part of the proposal involves converting an existing deposit. Norrenberger Advisory Partners would turn a two billion naira deposit from 2023 into equity. Shareholders will vote on creating over a billion new shares for this conversion. The company says its recent turnaround, called the 10x Story, shows a stronger foundation for growth. Instructions for joining the online meeting and voting have been sent to investors.
