Tinau Mission Development Bank: Promoter shares converted; What's the new shareholding ratio?

The promoter shares of Tinau Mission Development Bank Limited (TMDBL) have been converted to public shares.

The company had already issued a notice for the conversion of the shares on Mangsir 08 earlier this year. Promoters unwilling to convert the portion of their promoter shares could submit a self-declaration demanding to not have their shares converted. For promoters who did not submit the self-declaration within 35 days from the date of that notice, their portion of the shares has been converted.

The promoter: public shareholding ratio maintained as of now was 53.34: 46.66. With this conversion, the shareholding ratio has been converted to 51: 49. For this, 18,12,480 unit promoter shares had to be converted to ordinary/ public shares.

TMDBL's trading is currently halted in NEPSE due to the acquisition process from Citizens Bank International (CZBIL).