Prestige Assurance fixes May 23 for implementation of share reconstruction

Prestige Assurance has scheduled Wednesday, May 23, 2018, to Wednesday, June 6, 2018, for the implementation of its share reconstruction. It said during the period its registrars would adjust the shareholding of its shares to reflect the terms of the share reduction exercise and subsequently advise the Central Securities Clearing System (CSCS) to credit shareholders with their new share positions.

In a notification to the NSE and the public, it said the share reconstruction exercise, which is scheduled for between Friday March 23, 2018, and Thursday, March 27, 2018, was inconclusive as its registrars were unable to update the register of members of the company within the suspension period.