Modi Energy Limited (MEL) has issued a statement announcing the end of the lock-in period for shares held by its promoters, local residents from the project-affected region, and employees. This lock-in phase will conclude on the 30th of Baishakh, 2083.
In accordance with the latest regulations provided by the Securities Board of Nepal (SEBON), Modi Energy Limited (MEL) has formally informed its investors and stakeholders about the impending conclusion of the lock-in period concerning shares owned by its promoters, local inhabitants of the project-affected locality, and shares belonging to employees. The lock-in period is set to expire in the month of the 30th Baishakh, 2083.
MEL currently has 29,000,000 shares registered on the Nepal Stock Exchange (NEPSE). Out of these, promoters possess 2,17,50,000 units, local residents account for 8,04,390 units, while the company’s workforce holds 76,070 units. These shares have been under lock-in since the IPO allocation three years ago.
As detailed in the official announcement, shares controlled by the Board of Directors and senior management personnel will remain non-tradable post the lock-in period.
