Amana Takaful PLC announced that Amana Global Limited, a fully owned subsidiary of Amana Takaful PLC, has transferred 10,402,558 shares of Amana Takaful (Maldives) PLC being 51.39% of the total shares of Amana Takaful (Maldives) PLC to Amana Takaful PLC without any purchase consideration.
The shares of Amana Takaful (Maldives) PLC are fair valued at Maldivian Rufiyaa Six (MVR 6/-) per share upon being transferred to Amana Takaful PLC in conformity with the Sri Lanka Accounting Standards.
The transaction was effected on December 31, 2015. The rationale for effecting the transaction has been for the purpose of restructuring the Amana Takaful Group. In 2015, the Life operation was segregated as a wholly owned subsidiary of Amana Takaful PLC under the name and style of Amana Takaful Life Limited. (IH)
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The shares of Amana Takaful (Maldives) PLC are fair valued at Maldivian Rufiyaa Six (MVR 6/-) per share upon being transferred to Amana Takaful PLC in conformity with the Sri Lanka Accounting Standards.
The transaction was effected on December 31, 2015. The rationale for effecting the transaction has been for the purpose of restructuring the Amana Takaful Group. In 2015, the Life operation was segregated as a wholly owned subsidiary of Amana Takaful PLC under the name and style of Amana Takaful Life Limited. (IH)
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