Hotel Forest Inn Limited (HFIN) has announced that the lock-in period for 200,000 ordinary shares allocated to mutual funds will expire on Bhadra 3, 2083.
The company said the shares were reserved for mutual funds under the provisions applicable to the public issuance of shares and were subject to a mandatory six-month lock-in period.
5 Percent of Reserved Share Allocation Under Lock-In
Hotel Forest Inn has an issued capital of Rs. 2 billion. Of the total 4 million shares allocated under the relevant category, 200,000 shares, equivalent to 5 percent, were reserved for mutual funds.
These shares were placed under a six-month lock-in period following their allocation. The restriction was intended to prevent immediate trading of the shares and ensure compliance with the applicable regulatory provisions.
Shares to Become Eligible for Trading After Lock-In
Following the completion of the mandatory lock-in period, the 200,000 shares allocated to mutual funds will become eligible for trading from Bhadra 3, 2083, as per the company’s notice. The company has issued the information for the benefit of investors, shareholders and other concerned stakeholders.
The expiry of the lock-in period means that the concerned mutual fund holders will be able to trade the shares in accordance with the prevailing rules and regulations of the securities market. Hotel Forest Inn has urged all concerned stakeholders to take note of the information regarding the expiry of the lock-in period.
