National Life Insurance 29th AGM on Shrawan 27; to endorse 25% bonus & 60% right share

- ShareSansar, July 17, 2017  on Featured , Latest , Stock Market

National Life Insurance Company Limited (NLICL) has decided to convene its 29th Annual General Meeting (AGM) on Shrawan 27, 2074 at Central Office of company located at Lazimpat, Kathmandu.

As per the notice published by the company in Nepal Stock Exchange (NEPSE) today, the 377th BOD Meeting of the company held on Shrawan 1, 2074 has decided to hold the AGM. The main agendas of the AGM are:

  • To endorse 25 percent bonus share and 1.32 percent cash dividend for tax purpose to its shareholders from the profit it made in the fiscal year 2072/73.
  • To endorse 60% right share after issuance of bonus share. Earlier, NLICL had proposed 75% right share. NLICL has clarified that it will issue 60 percent right shares of the paid-up capital maintained after the 25 percent bonus share. As per the new directive, life insurance companies should increase their paid up capital to a minimum of Rs 2 arba until Ashad 2075 . Currently , the company has paid-up capital of Rs 1.32 arba. After issuance of 25% bonus and 60% right share its paid-up capital will reach Rs 2.64 arba
  • To amend article of association and memorandam of association as per the direction of concerned authorities
  • to elect 4 BOD member from promoter and 2 BOD members from public shareholders group.

Other agendas of the AGM include financial highlights of 2072/73 and appointment of auditor.

NLICL has earned net profit of Rs 17.47 crore until the end of third quarter of FY 2073/article of association and 074.