Kathmandu. Reliable Nepal Life Insurance Company Limited (KLIC) has issued 4.75 lakh units of shares to its shareholders.
Issuing a notice today, the company informed that the lock-up period of 3,71,57,120 units of shares will end from August 15. Out of which 3,63,77,600 units are held by the promoters and 7,779,520 units by the employees of the company. This is with bonus shares.
As per the provision, the promoter and employees of any company have to keep their shares locked up for 3 years from the date of allotment. According to the same provision, the lockout period is about to expire.
However, in the case of the directors and employees working in the top management position of the company, the shares will be frozen as per the rules.
