The John Keells Holdings PLC (JKH) subsidiary, Whittall Boustead Limited, has further trimmed its stake in Union Assurance PLC, to allow the insurer to work towards complying with the continuous minimum public holding rules of the Securities and Exchange Commission.
A stock exchange filing by JKH on Tuesday said Whittall Boustead divested 5,511 shares of Union Assurance at Rs.152 per share.
Whittall Boustead divested 65,001 shares of Union Assurance on Monday, citing the same reasons. The shares were disposed at Rs.152 each.
As at March 31, 2017, Whittall Boustead held 4.36 million shares of Union Assurance, which represented 7.40 percent of the issued shares of the insurer.
JKH held 86.5 percent of Union Assurance as the controlling shareholder.
Accordingly, the firm’s public shareholding as at March 31, 2017 stood at 6.07 percent.