Nepal Life Insurance (NLIC) Converting Promoter Shares to Maintain 51: 49 Shareholding Ratio
Mon, Jun 13, 2022 12:50 PM on Latest, Stock Market,
Nepal Life Insurance Company Limited (NLIC) has published a notice regarding the conversion of the share structure from 60:40 to 51:49.
The 21st AGM of the company endorsed the agenda to convert the shareholding ratio from 60:40 to 51:49 by converting a portion of the promoter shares to ordinary shares. The company also informs that all necessary amendments have been made in the company's management letter.
If the promoters do not wish to modify the shares, they can write a notice to the firm within 7 working days. If such declaration letter is not received by the aforementioned timeframe, the shares will be automatically get converted.
At present 8,20,79,666 units shares are listed in NEPSE of NLIC. Upon the conversion, the additional 73,87,170 units will be added to the present 3,28,31,877 units public shares to make the total public shares to 4.02 crore units. The LTP of the NLIC stands Rs 774.40 as on 10th June, 2022.
