Key Insurance Company Limited (KEY) – Withdrawal of Rights Issue

Posted: December 11, 2019 at 9:18 am

Key Insurance Company Limited’s (KEY) advisory:

“Key Insurance Company Limited advises its shareholders and other stakeholders that Items A(1), (2), (3), (4) and B of the Directors’ Resolution on 2 December 2019 as regards the proposed Rights Issue were withdrawn and therefore were not considered by the shareholders at the Extraordinary General meeting convened on 3 December 2019. The resolutions were withdrawn because the Directors are currently considering alternative capitalization strategies to grow the company and to explore opportunities to create shareholder value in the short to medium term. The shareholders considered and voted unanimously in favour of the resolution to Amend of the Articles of Incorporation to provide for electronic communication.”

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