📈 Sanasa Life Insurance Plans Rs. 1.05 Bn Rights Issue & SGIC Divestment

Sanasa Life Insurance Company PLC has announced capital restructuring plans to meet regulatory capital requirements set by the Insurance Regulatory Commission of Sri Lanka (IRCSL). • Capital Raising: - Plans to raise Rs. 1.05 Bn via a Rights Issue of 104.53 Mn new ordinary voting shares at Rs. 10 per share (ratio: 2 new shares for every 3 held). - Current stated capital stands at Rs. 1.57 Bn (156.80 Mn unlisted shares). - Each rights share includes one unlisted warrant exercisable at Rs. 10 within 24 months, offering potential to raise an additional Rs. 1.05 Bn. • Strategic Divestment in Insurance Sector: - Seeking shareholder approval to sell all or part of its 53.5% stake (up to 30.61 Mn shares) in subsidiary Sanasa General Insurance Company Ltd. (SGIC). - Recommends rescinding the previous resolution passed on 30 June 2026 regarding the insurance arm's strategic plan. • Regulatory & Governance Approvals: - Subject to approvals from shareholders, Securities and Exchange Commission of Sri Lanka (SEC), and IRCSL.