Prabhu Mahalaxmi Life Credits 4% Bonus Shares to Shareholders’ DEMAT Accounts

Kathmandu — Prabhu Mahalaxmi Life Insurance Company Limited has credited 4 percent bonus shares directly into the DEMAT (beneficiary) accounts of its shareholders. The bonus shares were approved during the company’s 9th Annual General Meeting for the fiscal year 2081/82.The company stated that the bonus shares have already been listed with the Nepal Stock Exchange and CDS and Clearing Limited, enabling them to be traded in dematerialized form. Shareholders who held shares until the specified cutoff date have received the bonus shares in their respective DEMAT accounts.For shareholders who had pledged their shares as collateral for loans, the bonus shares have been credited with a lien in the name of the respective banks and financial institutions. The company has advised such shareholders to contact their lending institutions to release the shares once the loan obligations are cleared.Additionally, shareholders who have not yet converted their shares into DEMAT form have been urged to complete the dematerialization process at the earliest to avoid any inconvenience. The company’s share registrar is Prabhu Capital Limited.