Nepal Insurance Company Limited has announced the new book closure date for its upcoming rights share offering. This update follows new instructions from the Securities Board of Nepal (SEBON) and recent changes in the company’s paid-up capital resulting from a bonus share distribution.
Board Meeting Update
In a meeting held on Jestha 23, 2082, the company’s Board of Directors decided to close the shareholder register for one day on Jestha 30, 2082. This closure is necessary to move forward with the rights share process.
Initially, the rights shares were to be issued based on an older paid-up capital of Rs. 1.64 billion (Rs. 1,64,42,41,940), excluding the recent 15% bonus shares.
Updated Rights Share Details
Originally, the rights issue was planned in a 10:4 ratio, offering 65,76,967.76 shares at Rs. 100 per share, totaling around Rs. 65.76 crore.
However, after issuing 15% bonus shares (totaling 24,66,362.91 shares) as approved during the 76th Annual General Meeting on Chaitra 19, 2081, the company’s new paid-up capital stands at Rs. 1.64 billion (no change in numerical value after adjustment, but composition changes due to bonus).
As a result, the rights share ratio has been revised to 34.78%, reflecting the updated capital structure.
What Shareholders Need to Know
- The book closure date is now set for Jestha 30, 2082.
- Only those listed in the shareholder registry before this date will be eligible for the rights shares.
- The company has also submitted the revised notice and a sample publication to inform shareholders.
Conclusion
Nepal Insurance is moving ahead with its rights share issuance while making necessary adjustments to reflect the bonus share distribution. Shareholders are advised to stay updated and check their eligibility before the new book closure date.
Notice: Nepal Insurance Company’s New Book Closure Date for Upcoming Rights Share Issue
