Whittall Boustead Limited, a subsidiary of John Keells Holdings PLC (JKH), yesterday divested 65,001 shares of Union Assurance PLC to allow the insurer to work towards complying with the continuous minimum public holding rules of the Securities and Exchange Commission.
The shares were divested 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.