Major shareholders of NTB get more time to shed control

Thursday, 24 December 2020 00:10 - - {{hitsCtrl.values.hits}}

The Central Bank has given more time for John Keells Holdings Plc and Central Finance Plc to reduce their shareholding in Nations Trust Bank Plc to 15% each.

Accordingly, John Keells Group (JKH Group) has been granted further time till 31 December 2021 and 31 December 2022 to reduce its shareholding in NTB to 20% and 15% respectively. JKH at present has an economic interest of 32.57% in NTB.

Central Finance Group (CF Group) has been granted further time till 31 December 2021 to reduce its shareholding in NTB to15% from a collective stake of 20%.