Mahalaxmi Bikas Bank (MLBL) to Convert Promoter Shares; What Will Be the New Shareholding Ratio?

Mahalaxmi Bikas Bank Limited (MLBL) has decided to convert a portion of its promoter shares.

The promoter: public shareholding ratio maintained as of now is 52.49: 47.51. The development bank has now decided to convert a portion of the promoter shares and convert the shareholding ratio to 51: 49. This was decided by the meeting of the board of directors held on Poush 15 earlier this year. 

Promoters unwilling to convert the portion of their promoter shares can submit a self-declaration demanding to not have their shares converted. If such a declaration isn't received within 35 days from the date of this notice, it will be understood that the promoter has no objection to the company's decision.

The self-declaration demanding non-conversion can be submitted to the company's central office in Durbarmarg, Kathmandu.