Consolidated Hallmark Insurance Transitions to Private Company

Consolidated Hallmark Insurance Transitions to Private Company ?

Consolidated Hallmark Insurance Plc has officially transitioned from a public to a private entity, marking a significant restructuring milestone. The restructured company, now named Consolidated Hallmark Insurance Limited, has completed its re-registration with the Corporate Affairs Commission (CAC).

Key Highlights:

• Transition to Private: The change follows a Scheme of Arrangement that started in October 2022. Consolidated Hallmark Insurance, formerly a public company, has now been reclassified as a Limited Liability Company.

• Listing Changes: The group’s parent company, Consolidated Hallmark Holdings Plc, has been listed on the Nigerian Exchange Limited (NGX) since November 2023, with over 10.84 billion shares available at N0.50 each.

• Stock Market Update: Prior to the transition, NGX fully suspended trading in Consolidated Hallmark Insurance shares as part of the restructuring, enabling the listing of Consolidated Hallmark Holdings as the parent company.

This restructuring aims to streamline operations, enhance governance, and optimize the company’s position in the Nigerian insurance market.