IEI Receives Shareholder Approval for Recapitalization Plan

Intern Energy Insurance Plc (IEI) conducted a virtual Extraordinary General Meeting (EGM) where all proposals were approved by shareholders. The approved resolutions included equity conversion, ratification of a deposit, issuance of new ordinary shares, and authorization to raise capital.

The Chairman, Alhaji Bukar Goni Aji, highlighted the importance of strengthening IEI's capital base to boost investor confidence. The company aims to raise N17.5 billion through various instruments, subject to regulatory approvals, in line with industry reforms.