Linkage Assurance to raise N16.3bn through rights issue

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Linkage Assurance Plc (“the Company”) has notified its shareholders and Nigerian Exchange Limited (“NGX”) that it has obtained approval of the Securities and Exchange Commission (“the Commission”) to commence Rights Issue of 12,320,000,000 ordinary shares of N0.50 each at N1. 32 kobo per share.

The offer is being made to existing shareholders on the basis of two (2) new ordinary shares for every three (3) ordinary shares held as at 22 January 2026.

The rights circular, the Company noted will be distributed to shareholders by the Registrars to the Offer, Apel Capital Registrars Limited, and can also be accessed on the Company’s website at: www.registrars.apel.com.ng.

The offer opens on 11th March 2026 and closes on 23rd April 2026. The Rights being offered are tradable on the floor of NGX for the duration of the Acceptance Period.

The Company encouraged its Shareholders to participate in this issue through the dedicated platform which can be accessed at www.linkage.apel.com.ng. Shareholders may also participate in the Rights Issue by completing the paper participation form.

The application forms will also be available on the Registrar’s website at www.registrars.apel.com.ng.

Completed Participation Forms, together with payment or evidence of payment for the full amount payable, the circular stated should be submitted no later than Thursday, 23 April 2026, to any of the Issuing Houses or Receiving Agents listed in the Rights Circular.

The Rights Issue provides existing shareholders with the opportunity to increase their equity holdings in the Company, thereby reinforcing their participation in and support of the Company.

The capital raised will be deployed to meet the required Minimum Capital introduced by the Nigeria Insurance Industry Reform Act, 2025, and to expand into key areas of insurance business.

Shareholders are advised to contact their stockbrokers and/or financial advisors for further information regarding the offer.