AIA Hong Kong extends closing date of Exit Offer to 5 July

Monday, 1 July 2019 00:00 - - {{hitsCtrl.values.hits}}

The Exit Offer for delisting of the company’s shares based on a final offer made by AIA Company of Hong Kong at Rs. 2,500 per share commenced on 24 May with the original closure date of 21 June which is now extended to 5 July, giving many shareholders much requested time to complete administrative processes involved in accepting the Exit Offer.

AIA Insurance Director/Chief Legal Officer Chathuri Munaweera,assuring that the extension does not delay the payment procedures, explained that in respect of valid “Forms of Acceptance and Transfer” which are received by 7 June, payments are already being dispatched to the entitled shareholders, whilst the payments for the valid Forms of Acceptance and Transfer which were received during the period from 10to 21June, will be dispatched on or before the expiry of 15 Market Days from 21 June.

For shareholders who hand over valid Forms of Acceptance and Transfer by or before 4.30 p.m. on 5 July, the payment will be made on or before the expiry of 15 Market Days from 5 July.

AIA Insurance Lanka announced in March that it will delist the company’s shares from the official list of the CSE in compliance with applicable regulations and procedures while at the same time reaffirming its commitment to the Sri Lankan market.

The proposal to delist was approved by the requisite shareholder majority at the Extraordinary General Meeting (EGM) held in March and by the Securities and Exchange Commission of Sri Lanka in May.