Sanima Reliance Life’s Changed Ownership of Founder Shares on Publics

Sanima Reliance Life Insurance founder shares has changed for general publics. In this company the ownership of the founder’s shares is 70 percent and the ownership of the common stock is 30 percent but the company has changed it to 51 percent of the share ownership of the founding group and 49 percent of the common group’s share ownership.

The company has changed the share ownership by saying that there is a provision that the remaining shares can be converted into ordinary shares so that the founder’s share ownership is at least 51 percent in the insurer’s founder’s share trading guidelines.

The company’s general meeting on 12th of February march 2023 passed the proposal to convert the founder shares into common shares after taking the approval of Nepal Insurance Authority and other regulatory bodies.

Sanima Reliance Life has published the share ownership change by recording the amendment in the company’s articles of association and regulations from the company registrar’s office and saying that there is an in-principle agreement from the Nepal Insurance Authority.