Continental Reinsurance denies reports on delisting

Continental Reinsurance

Continental Reinsurance has refuted reports surrounding the suspension of its delisting from the Nigerian Stock Exchange, NSE.

The composite insurer issued a statement against a Punch Newspaper report that:

“Our attention has been drawn to a publication on Page 27 of the Punch newspapers of January 4, 2019 and titled “Continental Reinsurance denies plan to delist from NSE’.

In that respect, we write to advise The Nigerian Stock Exchange and the investing public that the publication in the Punch newspapers is greatly misrepresentative and does not accurately reflect the remarks made by Dr. Olufemi Oyetunji (Chief Executive Officer, Continental Reinsurance Plc) at the press conference held on December 21,2018.

The press conference had been convened, post the Court-Ordered Meeting, to enable the Chief Executive Officer to respond to questions from the press. There were six (6) financial editors from 6 different newspapers in attendance and no categorical statement was made as has been mis-quoted by the Punch.

The management of Continental Reinsurance has drawn the attention of the Punch Newspaper to the error, to make the necessary correction.

As regards the transaction, we will provide further updates in due course.”