National Life Insurance converting 3,082,627 units promoter shares to the public; new promoter, public ratio stands 55 : 45
National Life Insurance Company Limited has published a notice regarding the conversion of promoter shares to the public shares.
Until now, National Life Insurance Company Limited had 65% of the total shares as promoter shares and the remaining 35% as public shares. The new notice has formally announced that 10% of the shares will be converted from promoter shares to public shares.
A total of 3,082,627 promoter shares will be converted. Hence, the new promoter to public ratio is now 55 : 45.
| Capital | Number of Shares | |
|---|---|---|
| Total Rs | 3,082,626,548 | 30,826,265 |
| Promoter (65%) | 2,003,707,256 | 20,037,073 |
| Public (35%) | 1,078,919,292 | 10,789,193 |
| After Conversion | ||
| Promoter (55%) | 1,695,444,601 | 16,954,446 |
| Public (45%) | 1,387,181,947 | 13,871,819 |
| Total Conversion Units | 3,082,627 |
This decision was taken on the company's 31st Annual General Meeting held on Kartik 24, 2076.
In case a promoter does not want to convert their shares, they can present a statement of self-declaration at the company's central office in Lazimpat, Kathmandu within 35 days from the date this notice was issued. If a promoter does not present a statement of self-declaration, the shares will be converted by default. The company is yet to conduct its AGM of FY 2075/76.
The self-declaration form can be downloaded from www.nationallife.com.np.
