Notification of Lifting of Suspension Placed on the Trading of the Shares of Continental Reinsurance Plc

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We refer to our Market Bulletin dated 31 December 2018, with Reference Number: NSE/RD/LRD/MB7/18/12/31 wherein we notified Dealing Members of the suspension of Continental Reinsurance Plc (the Company) as requested by the Issuer through its Stockbroker, Chapel Hill Denham Securities Limited for the purpose of determining the shareholders that will qualified to receive the scheme consideration following the resolutions passed by the shareholders of CRE at the Court-Ordered Meeting held on 20 December 2018 in favour of the proposal by CRE African Investments Limited (a major shareholder of the CRe) to acquire all the outstanding and issued shares of CRE for cash or shares.

 The Securities and Exchange Commission has directed that the Company reconvene another Court-Ordered Meeting to consider the Scheme of Arrangement thereby invalidating the Court Ordered Meeting held on 20 December 2019. Hence, the condition upon which the suspension was earlier placed ceased to subsist. Consequently, the Suspension on the trading of the shares of Continental Reinsurance Plc was today; Thursday, 18 July 2019 lifted to allow shareholders trade on their shares pending the reconvening of the meeting and announcement of a new effective date by the company

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