Prabhu Bank to convert its promoter shares into ordinary shares; Promoters to hold only 51% of the total shares

Prabhu Bank Limited (PRVU) has published a notice regarding the conversion of its share structure. The bank will be converting its share structure to 51:49 from the current share structure of 61.31:38.69.

As per the notice published today, the meeting of the board of directors on Baisakh 19, 2075 had taken the decisionfor the conversion of share structure by commencing transaction of the promoter shares in the secondary market.

The bank will be awaiting permission from the Rastra Bank for the conversion. And the bank has urged its promoters to provide necessary information on their willingness or unwillingness to convert thir shares into ordinary shares within 35 days.