SuryaJyoti Life Insurance Announces Conclusion of Lock-In Period for Promoters and Employees' Shares on Chaitra 20

SuryaJyoti Life Insurance Company Limited (SJLIC) has officially notified its investors and stakeholders about the upcoming conclusion of the lock-in period for a substantial number of unit shares. The lock-in period, encompassing 14,266,323.50 unit shares, is set to expire on the 20th of Chaitra, 2080, in compliance with the latest directives from the Securities Board of Nepal (SEBON).

The lock-in period, a regulatory provision enforced post the merger of Surya Life Insurance Company Limited and Jyoti Life Insurance Company Limited, is a crucial phase during which certain shares were restricted from trading. Following the merger, the unified entity has been operating under the name "SuryaJyoti Life Insurance Company Limited" since the commencement of unified business operations on Poush 7, 2079.

Providing a breakdown of the shares under consideration during the lock-in period, the company disclosed the following details:

1. Shares of the Promoter Group: The total number of shares held by the promoter group is recorded at 10,175,979 units.

2. Shares Converted from Promoter Group to Public Group: A noteworthy portion of the shares, amounting to 3,791,051 units, has undergone conversion from the promoter group to the public group.

3. Shares Reserved for Employees: Additionally, 299,293.50 units of shares have been reserved for the employees of the company.

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