Modi Energy Limited Announces Conclusion of Lock-in Period for Promoters, Project-Affected Area Locals and Employee Shares on Baishakh 30

Modi Energy Limited (MEL) published a notice regarding the expiration of the lock-in period of its promoters, residents of the project-affected area, and employee shares, and the lock-in period will expire on 30th Baishakh, 2083.

According to the recent guidelines issued by the Securities Board of Nepal (SEBON), Modi Energy Limited (MEL) has officially notified its investors and stakeholders of the conclusion of the lock-in period for the shares held by its promoters, residents of the project-affected area, and employee shares. In the month of the 30th Baishakh, 2083, the lock-in period will end.

MEL now has 29,000,000 shares listed on the Nepal Stock Exchange (NEPSE). Of these, the promoters held 2,17,50,000 units, the residents of the project-affected are 8,04,390 units, and the company's employees 76,070 units. These shares have been subject to a lock-in period since the IPO allotment three years ago.

As outlined in the official notice, the shares held by the Board of Directors and employees at higher management will not be tradable after the lock-in period.

MEL closed at Rs. 279.00.

Notice: