Senthilverl Holdings raises stake in Amana Takaful to 12%

Senthilverl Holdings (Pvt.) Ltd has increased its shareholding in Amana Takaful Insurance PLC to 12.046 percent, following the acquisition of 7.28 million ordinary voting shares in the insurer.

A stock exchange disclosure showed that Senthilverl purchased 7,278,184 shares on June 5, at a price ranging between Rs.21.90 and Rs.22.00 per share.

Prior to the transaction, Senthilverl held 28.8 million shares, representing a 9.615 percent stake in Amana Takaful. Following the latest purchase, its holding rose to 36.08 million shares, equivalent to 12.046 percent of the company’s issued voting shares.

The disclosure was made under Section 36 of the Takeovers and Mergers Code of 1995, as amended in 2003, which requires notification when the specified ownership thresholds are crossed.

Amana Takaful Insurance PLC has a total issued share capital of 299.51 million shares.