11th AGM of Shikhar Insurance Company today; to approve 24 % stock dividend

Shikhar Insurance Company Limited (SICL) is convening its 11th Annual General Meeting (AGM) today. The AGM is being held at Central Office, Shikhar Biz Centre, Thapathali, Kathmandu at 11:00 AM. Main agendas of the AGM are:

• To approve 24 percent bonus share and 1.27 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72.
• To endorse fund for Corporate Social Responsibility.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of 2071/72, election of a BOD member from public shareholder and appointment of auditor. Only those shareholders owning shares till Falgun 19 is entitled to the 24 % bonus share of the company. The register of their shareholders has been closed from Falgun 20, 2072 till today for the purpose of its upcoming (AGM). Shikhar Insurance earned net profit of Rs 10.11 crore in its second quarter of the fiscal year 2072/73.