15th AGM of Prudential Insurance to endorse 20% bonus & 30% right share; AGM on Falgun 27

Prudential Insurance Company Limited (PICL) will be convening its 15^th Annual General Meeting on Falgun 27, 2073. The AGM will be held at Hotel Bhisuwa, Birgunj, Parsa at 11:00 AM. The main agendas of the meeting are:

• To endorse 20% bonus share and cash dividend worth Rs 37, 32,409 ( for tax purpose) from the net profit earned in the last fiscal year.
• To increase its authorized capital from Rs 50 crore to Rs 1 arba.
• To increase its issued and paid up capital from Rs 35.64 crore to Rs 55.59 crore
• To issue 30% right share after bonus share distribution.
• To change the share structure of the company from 80:20 to 65:35.
• To amend the article of association and memorandum of association.
• To authorize BOD to make necessary amendments in the article of association as directed by concerned regulatory bodies.

Other agendas of the AGM include financial highlights of 2072/73, appointment of auditors, and election of a BOD member. Only those shareholders owning shares till Falgun 2, 2073 will be entitled to the bonus share of the company. The register of their shareholders will be closed from Falgun 3, 2073 till Falgun 27, 2073 for the purpose of its upcoming AGM. A separate book closure notice will be published for the right issue. PICL has earned net profit of Rs 1.8 crore in the first quarter of the fiscal year 2073/74. Its paid up capital remains at Rs 35.64 crore. After distributing 20 percent bonus share its paid up capital will reach to Rs. 42.76 crore. Likewise, after issuing 30% right share, its paid up capital will reach Rs 55.59 crore.