प्रभु महालक्ष्मी लाईफ इन्स्योरेन्सको संस्थापक शेयर लिलामीPrabhu Mahalaxmi Life Insurance: Promoter Share Auction

Notice Regarding Invitation of Sealed Bids for the Sale of Promoter Group Shares of Prabhu Mahalaxmi Life Insurance Limited

Sealed Bid Submission Start Date: 2083/05/25

Sealed Bid Submission End Date: 2083/06/02

Since a total of 31,588 units of promoter group shares of Prabhu Mahalaxmi Life Insurance Limited are being sold at a minimum price of Rs. 225/- (Two Hundred and Twenty-Five Rupees only) per share, eligible interested existing promoters or any individual, company, association, or institution wishing to purchase the said shares are invited to submit sealed bids within office hours on 2083 Ashwin 2, stating the rate per share they are willing to pay, subject to the conditions mentioned in the details below, at the office of the Issue Manager, NIC Asia Capital Limited, Trade Tower Nepal, Thapathali-11, Kathmandu. Additionally, existing promoter shareholders are hereby informed that a 35-day notice giving them priority has already been published.

Details

S.N. Place to Obtain and Submit Bid Application Form (Collection Center):

1 NIC Asia Capital Limited, Trade Tower Nepal, Thapathali - 11, Kathmandu.

Details

S.N. Name of the Company whose Shares are being Sold Total Units Minimum Price Minimum Units to Apply

1 Prabhu Mahalaxmi Life Insurance Limited 31,588 225/- 5,000

Conditions:

1. Only investors eligible under prevailing laws for the purchase of shares of the above-mentioned company can participate.

2. The bid application form can be obtained from the above-mentioned collection center upon cash payment of Rs. 100/-.

3. In the bid application form, the number of shares the applicant wishes to purchase and the rate per share must be clearly written in both figures and words. In case of any discrepancy between figures and words, the words will be recognized. Any corrections must be signed. Bids with excessive corrections where the bid price is illegible will not be recognized.

4. Since the minimum price for share purchase is set at Rs. 225/- (Two Hundred and Twenty-Five Rupees only), applications submitted with a price lower than the said price will be automatically rejected.

5. When bidding for the purchase of shares, applications must be submitted for a minimum of 5,000 units, and for a maximum, applications can be submitted up to the total units mentioned above. However, when adding up the total shares applied for purchase, the application must be submitted such that it does not exceed the maximum limit set by the relevant regulatory body for purchasing or holding shares. Share applications resulting in fractions (decimals) will not be allowed.

6. The outside of the sealed envelope must state "Application for Purchase of Promoter Shares of Prabhu Mahalaxmi Life Insurance Limited". The sealed bid must be wax-sealed. Also, the sealed envelope must be submitted.

7. Approved applicants will receive right shares, bonus shares, and dividends declared by the concerned company after the date of publication of this notice for submitting bids, i.e., 2083/05/25.

8. The bidder must deposit the entire amount for the shares they wish to purchase into the bank account mentioned in the share purchase application form and attach the original bank voucher, or attach a Good for Payment Cheque or Manager's Cheque issued in the name of NIC Asia Capital Limited, and submit the sealed bid.

9. Bidders wishing to purchase shares must attach the Fit & Proper Test details prescribed for promoter shareholders of the relevant regulatory body, a letter showing non-inclusion in the blacklist of the Credit Information Bureau, documents showing source of income, certified copy of citizenship certificate, copy of tax clearance certificate of the latest fiscal year, and copy of police report.

10. In the case of a company, the application must be accompanied by the company registration certificate, tax clearance certificate, copy of the decision of the company's Board of Directors regarding the purchase of shares, and necessary identification details to open a demat account with a member broker.

11. Shares will be sold to the bidder bidding the highest price. If shares remain after this, they will be sold to the next highest bidder. While selling shares through bidding, if there are two or more applicants at the final price, the remaining shares from the bidding will be distributed proportionally based on the number of shares requested. The entire right to accept or reject the received bids, fully or partially, with or without disclosing any reason, shall remain with the seller and the concerned company.

12. The mentioned shares will not be sold if the conditions and provisions specified in the "Directive on Transaction of Promoter Shares of Insurers, 2077" issued by the Nepal Insurance Authority are not met.

13. The date, time, and place of opening the bids will be informed by publishing a public notice or by informing the concerned applicants through any other medium.

14. No action will be taken on applications that are received after the deadline or are incomplete.

15. The amount received from applicants who do not get allotment will be transferred directly to the applicant's bank account through IPS within 3 working days after the concerned seller decides on the allotment to the successful applicants.

16. Shares allotted will be traded and transferred in the name of the applicant in accordance with prevailing laws. Under no circumstances shall the applicant be entitled to claim interest or any other claims. All other fees and charges, including brokerage commission, payable during the purchase transaction and transfer of allotted shares and received bonus/right shares, must be borne by the applicant themselves. Also, if the price per share allotted differs from the price set by the Nepal Stock Exchange at the time of transaction, any additional fees and taxes incurred during the share purchase/sale transaction must be borne by the concerned buyer and seller.