Shikhar Insurance (SICL) to Convert Promoter Shares; Here's How Promoters Can Deny the Decision

Sun, May 23, 2021 10:24 AM on Latest,

The 15th and 16th AGM of Shikhar Insurance Company Limited (SICL) held on Chaitra 09, i.e. March 22, 2021 endorsed the decision to change the promoter: public shareholding ratio to 51: 49 from the existing 60: 40.

As such, the company has now issued a notice to promoters to present a self-declaration letter if they do not want to convert their promoter shares. If promoters do not submit a self-declaration form, the company will automatically consider that the promoter consents to the decision to convert their portion of promoter shares.

The quota that will be left unconverted if some promoters present a self-declaration form for non-conversion can be utilized by those who are willing to convert their shares.

Announcement