AIA Hong Kong extends closing date of exit offer to July 5
View(s):AIA Insurance Lanka PLC has announced to its shareholders that the closing date of the Exit Offer made by AIA Company Ltd of Hong Kong to the rest of the company’s shareholders has been extended to July 5 from June 21 to accommodate shareholder requests for an extension.
AIA Insurance Lanka announced in March that it will delist the company’s shares from the official list of the Colombo Stock Exchange in compliance with applicable regulations and procedures while at the same time reaffirming its commitment to the Sri Lankan market. The Exit Offer for delisting of the Company’s shares based on a final offer made by AIA Hong Kong at Rs. 2,500 per share commenced on May 24 with the original closure date of June 21 which is now extended to July 5 giving many shareholders much requested time to complete administrative processes involved in accepting the Exit Offer, according to a company media release.
Ms. Chathuri Munaweera, Director and Chief Officer Legal of AIA Insurance assured that the extension will not delay the payment procedures.
AIA Insurance Lanka said its licence to carry out life insurance business as granted by the authorities is not affected by the delisting of the company and the business will continue to be supervised by the Insurance Board. “Policyholder liabilities will not be affected and AIA Insurance Lanka will continue to honour its obligations to its customers,” the release said.