National Life Insurance amends its already approved 100% Right share to 75% & proposed 25% bonus of FY 72/73; paid up capital to reach Rs 2.65 Arba
- ShareSansar, April 20, 2017 on Dividend, Right & Bonus , Featured , Latest , Stock Market
National Life Insurance Company Limited (NLICL) has made a slight amendment on its 100 percent right share which was endorsed earlier after the Insurance Board provides directive for the capital increment.
The insurance company had earlier endorsed 100% right share from its 28th AGM and NLICL will now issue 75 percent right share and 25 percent bonus share amending 100% right share endorsed by the company earlier.
As per the notice published by Nepal Stock Exchange today, National Life Insurance’s paid up capital stand at Rs 1.32 arba. Insurance Board of Nepal (Beema Samiti) has issued a directive to all insurance companies to increase their paid up capital. Life insurance companies should maintain a minimum paid up capital of Rs 2 arba by the end of FY 2074/75. NLICL is near about to reach paid up requirement of Rs 2 arba so the company will now only float 75% right and 25% bonus share on its existing paid up capital to make it Rs 2.65 arba.
For the amendment of the right shares issuance the agenda will be put forward in the upcoming AGM.