Promoter Shares Converted into Ordinary Shares of Gurans Life Insurance Company Limited (GLICL) | Hamro Insurance

Promoter Shares Converted into Ordinary Shares of Gurans Life Insurance Company Limited (GLICL) | New Shareholding Ratio | Nepal Insurance News | Hamro Insurance

During the 6th Annual General Meeting of Gurans Life Insurance Company Limited (GLICL) , the company had endorsed a special agenda to convert their shareholding ratio to 51: 49 for the promoter shares of around 19,75,584.6 units. The pre-existing shareholding ratio of the company was 70: 30.Shareholding Ratio means the ratio of the number of a Holder’s Shares to all outstanding Shares, after assuming conversion or exercise of any warrant, stock option and other equity securities of JVC.

 

Through the company requested the Shareholding ratio to 51: 49, Beema Samiti has only given approval for conversion to 60: 40 for the 19,75,584.6 units of promoter shares of GLICL. The 19,75,584.6 units of Promoter Shares of GLICL are now converted to Ordinary Shares. The letter of the Beema Samiti dated Ashar 14 approved the share conversion of the company to 60: 40. Those Promoters who are not willing to convert their Promoter Shares into Ordinary Shares were allowed to submit a self-declaration letter within 7 days of the company’s notice to defy the decision. The company has restructured its share ownership by converting 10% of its Promoter Shares into Ordinary Shares.

 

Pre-Existing Shareholding Ratio of GLICL 70: 30
Requested/Endorsed Shareholding Ratio of GLICL 51: 49
Approved Shareholding Ratio of GLICL 60: 40

 

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