SEBON Directs Listed Companies for Notifications and Public Disclosure 30 Days Before Share Lock-In Period
December 13, 2023 | Investopaper
Securities Board of Nepal (SEBON) has mandated that, at least 30 days before the conclusion of the specified lock-in period, a notification must be disseminated by the listed companies to inform investors and all concerned stakeholders. This notification should encompass details about the share lock-in, along with the total number of shares subject to the lock-in.
The information should be made publicly available, explicitly stating the lock-in period’s expiration date. Furthermore, the board emphasized the necessity of providing this information to regulatory bodies such as the SEBON, Nepal Stock Exchange (NEPSE), and CDS and Clearing Limited (CDSC).
In addition to these requirements, the board directed organizations to maintain accessible information on their websites, ensuring visibility from the release date until at least one week after the lock-in period concludes. Simultaneously, the Nepal Stock Exchange and CDS and Clearing are instructed to display information related to share locking received from organized entities on their respective websites.
