Mansard Insurance Acquires 60% Stake of Penman Pension

By InvestAdvocate

Lagos (INVESTADVOCATE)-Insurer, Mansard insurance Plc said on Monday it has completed the acquisition of a 60 percent stake of Penman Pensions Limited, according to the company in a notice to the Nigerian Stock Exchange (NSE).

Mansard says the acquisition extends its subsidiaries to four (4), having already made significant inroads into Asset Management, Health Insurance and Property segments through its wholly owned subsidiaries (Mansard Investments Limited and Mansard Health Limited) as well as its majority holding in the property joint ventures, APD Ltd.

In the same vein, Mansard announced the listing of 500,000,000 ordinary shares of 50 kobo each to the Daily Official List (DOL) of the Nigerian bourse arising from the company’s Share Option Plan approved in 2014 for employees of the company.

“By this action, the total outstanding shares of the company are 10,500,000,000 units,” Mansard affirmed.


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