Nepal Life Insurance Company’s 17th AGM today; to endorse 25% bonus share

Nepal Life Insurance Company Limited (NLIC) is convening its 17^th Annual General Meeting (AGM) today (Chaitra 14, 2073). The AGM is being held at Hotel Vishuwa, Birgunj. The main agendas of the AGM are:

1. To endorse 25% bonus share and 1.31% cash dividend (for tax purpose) for the FY 2072/73. The allottees of its recently concluded Further Public Offering (FPO) are also eligible for the dividends.
2. After issuance of bonus share, its capital will increase – and amend its Article of Association and Memorandum of Association accordingly.
3. To amend the Article of Association and Memorandum of Association as per directions received from the regulatory authorities, and provide authority to the BOD for necessary amendments.
4. To fix allowances and benefits for the BOD committee and sub-committee.
5. To fix salary of CEO.
6. To endorse expenses made for charity in the FY 2072/73.

Other agendas of the AGM include endorsement of financial statements of the FY 2072/73 and appointment of auditor for the FY 2073/74. The register of their shareholders has been closed from Falgun 27 to Chaitra 14, 2073 for the purpose of this AGM. Only those shareholders holding shares one trading day ahead of the book closure date i.e. Falgun 26, 2073 are eligible for the dividends and for participation in the AGM. Nepal Life Insurance Co. Ltd. has earned Rs 15.30 crore in the second quarter of the fiscal year 2073/74. After the issuance of 25% bonus shares, its paid up capital will reach Rs 3.1 arba.