Igi

[prince dagbolu]

One thing i like about IGI is that the leadership of the Company has vision. There is no reason why an insurance company cannot own a bank. I wish them well.

[hispy99]

Investors renew complaints on IGI’s listing
Posted Tuesday, August 26, 2008



PETER OBIORA

Proshare NI

August 26, 2008 at 18:32 GMT



Investors have renewed their complaints over the non-listing of Industrial and General Insurance Plc (IGI) on the Floors of the Nigerian Stock Exchange (NSE).



As earlier reported by Proshare NI, IGI has eroded investors’ confidence by not listing its shares as scheduled; contrary to a letter sent to shareholders of the company dated December 03, 2007 and signed by Remi Olowude, Executive Vice Chairman (EVC) of IGI.



The letter stated that IGI has concluded plans to seek listing by introduction on the Floors of the NSE in the early part of 2008.



Part of it read “I am therefore, delighted to confirm that IGI has conducted all the necessary processes and we intend to seek a listing by introduction on the Nigerian Stock Exchange in the early part of 2008.



Some of the investors affirmed that they are of the opinion the company state specifically when it intends to list its shares on the NSE.



A source close to Proshare NI had affirmed that investors need liquidity on their investments.



“The company is no longer a Private Company; but a Public Liability Company (PLC), because it has more than 50 shareholders as stated by the law” the source said.



The company offered N725 million by way of Rights Issue and a Placement which targeted funds in excess of N5.8 billion from members of the Nigerian investing public.



IGI on July 09, 2008 held its Annual General Meeting (AGM) in Lagos Nigeria and it was reported that the company has considered the need to list its shares in the equities sector of the Stock Exchange.



As earlier reported at the AGM, the Board of Director has considered putting in an application for listing. However, as at the time of filling in this report, Proshare NI could not confirm the true status of the proposed listing of IGI.



Olowude had affirmed that due to new regulatory rules; IGI is doing all it can to meet the necessary requirements before coming to the Exchange.

[balaliyu]

Im sure the next thing you will hear is that the delay is related to the current market developments. I dont blame them.

If investors purchased stocks for their value and long term growth, they shouldn't really worry. They will eventually list - and Im sure the stock will do well.

We've come this far, we cant let go now....

Cheers....B

[Apache]

Originally Posted by prince dagbolu

Apache, thank you for your detailed reply. It has clarified a few things to me. As regard the transfer. I shall keep you and other members informed. I have done a similar transfer on GT Assurance shares before. It wasn't a problem. But, It was done by GTB Registrars, and you cannot compare their efficientcy to Union Registrars.

Congrats on your senior membership status. any update on the transfer thingy. were you successful?

[prince dagbolu]

Originally Posted by Apache

Congrats on your senior membership status. any update on the transfer thingy. were you successful?

Thank you Apache. I am so proud to become a senior member of this forum. As per the IGI thing. I am still waiting on my friend to find time to visit the office of IGI Company Secreatary to seek her consent. When he does that i will be able to feedback to you.

[prince dagbolu]

Originally Posted by Apache

Congrats on your senior membership status. any update on the transfer thingy. were you successful?

Apache, i spoke to the office of the IGI company secreatary yesterday. To effect transfer if IGI shares from one person to another. The owner of the shares has to write a letter to the company secreatary and union registrar. Take these letters and the original copy of the share certificate to the office of the company secreatary and submit it to her for processing. When the new certificate is ready. It goes back to the office of the company secreatary for pick up.

[Abinishio]

House,
IGI 2007 dividend warrant has been released. (0.15k)
Shareholders can wait to collect from post or approach Union Reg for personal collection. I have picked mine with a smile.
Just for hse info.

AB

[prince dagbolu]

Originally Posted by Abinishio

House,
IGI 2007 dividend warrant has been released. (0.15k)
Shareholders can wait to collect from post or approach Union Reg for personal collection. I have picked mine with a smile.
Just for hse info.

AB

I was waiting for this money. Thanks for letting us know.

[Okadigbo]

Please i need you guys to reconfirm the proposed dividend payout of 15 kobo per share by IGI. Is this true? I thought I read their annual and can't remember seeing where any dividend was declared. Please I do need a clarification.

Any new information as per when IGI will list on the floor of the exchange. I do have plenty of these shares and I really want to exit.

God bless you all.

[Tayo]

Originally Posted by dotunk

Etubon!

if you had any lectures in economics you would know that a company doesnt have to be listed to be a plc. there are several companies which have the plc surfix but are not listed.

but in IGI's case they are going to be listed soon

Hi Guys,
This is October 2008 - 4 months after the promised April date. Does anyone have any update on the situation?

[tenifolk]

I do not think you can exit this IGI shares officially since the coy is yet to be listed. What you can do right now is to look for a willing buyer and sell. But be prepared to sell below the offer price.

Cheers

[pegheneji]

i thought this tread should be merge with the one of IGI

[prince dagbolu]

Originally Posted by pegheneji

i thought this tread should be merge with the one of IGI

It needs to done as soon as possible.

[prince dagbolu]

Please, has anyone received their IGI divided warrant in the post.

[Abinishio]

Originally Posted by prince dagbolu

Please, has anyone received their IGI divided warrant in the post.

I advised people gp to UBN Registrars and pick up, or send someone with your mandate.
It's easy & faster!

AB

[prince dagbolu]

Originally Posted by Abinishio

I advised people gp to UBN Registrars and pick up, or send someone with your mandate.
It's easy & faster!

AB

Thanks, i shall see what i can do,

[mena]

Hello guys,

I got my dividend warrant yesterday via post.Lets hope these guys improve on keeping their promise on the listing although the state of things on the floor scares me for now.