Investors

Axiata Group Berhad wishes to announce that Ncell Private Limited (the “Company”), its indirect 80% owned subsidiary held through Axiata Investments (UK) Limited has been converted to a public limited company under Section 13(1) of the Companies Act, 2063 (2006) of Nepal. Along with the conversion, the name of the Company has been changed to “Ncell Axiata Limited”.

The conversion to a public limited company was undertaken to comply with Section 12 of the Companies Act, 2063 (2006) of Nepal which requires a telecommunications company having a minimum paid-up capital of NPR 50 million to convert its corporate status to a public limited company.

This change of name and conversion is pursuant to the approval of the Government of Nepal, Ministry of Industry, Commerce & Supplies, Office of the Company Registrar dated 3rd August 2020 (“Effective Date”). All business transactions shall be carried out in the new name of the Company from the Effective Date.

This announcement is dated 5 August 2020.