Best Finance Company Limited has announced changes to its share ownership structure following a special proposal approved at its 27th Annual General Meeting (AGM) on January 30, 2025 (14th of Magh, 2081). Under the new restructuring plan, the founding shareholders’ stake will decrease from 61.42% to 51.42%, while public shareholders’ stake will increase from 38.58% to 48.58%.
In a subsequent meeting on November 25, 2024 (9th of Kartik, 2081), the company’s Board of Directors approved changes to its Articles of Association and Regulations. These changes were also approved by Nepal Rastra Bank and are now in the process of being implemented.
To facilitate this shift, Best Finance issued a seven-day public notice to its founding shareholders, offering them the opportunity to adjust their shareholding. As no objections or applications were submitted during the notice period, the new shareholding structure will be finalized based on the records as of March 18, 2025 (5th of Chaitra, 2081).
The company also reminded stakeholders that all pending share transactions, including purchases, auctions, inheritances, or other transfers, must be completed within the given period. Transfers that occur after the deadline will need the company’s approval.
Additionally, in line with Nepal Rastra Bank’s directives, any shares converted from the founding group to the public category can only be sold if the shareholder or institution is not listed on the Credit Information Center Limited (CICL) blacklist. Shareholders must submit an updated CICL clearance certificate before their shares can be deposited into demat accounts.
For shares pledged as collateral, shareholders must obtain a No Objection Letter (NOL) from the respective financial institution or authority before transferring their shares. The company has urged all shareholders to visit its head office in Kamaladi, Kathmandu, for further guidance on completing the necessary procedures.
