17th AGM of Life Insurance Corporation Nepal to be held on Shrawan 24, 2076; agenda to endorse 70% dividend for the shareholders

The BOD meeting of Life Insurance Corporation Nepal (LICN) has decided that the 17^th AGM of the company will be held on 24^th Shrawan, 2076 (9^th August, 2019) at Nepal Police Club Hall, Bhrikutimandap from 9:30 AM onwards.

The agenda of the AGM is to endorse the audited financial highlights of FY 74/75 and appoint statutory auditor for FY 75/76. The company will be endorsing decision to distribute cash dividend worth Rs.53.12 Crore (35.54% of the paid up capital) to the shareholders out of the profits of FY 74/75.

The company will endorse distribution of 34.46% bonus shares worth Rs.51.51 Crore for the shareholders out of the profits of FY 74/75. The authorized, issued, paid up capital will be increased from current Rs.1.49 Arba to Rs.2.01 Arba.

For this purpose, the books of the company will remain closed from 9^th Shrawan to 24^th Shrawan, 2076. Investors holding shares of the company till 8^th Shrawan, 2076 will be eligible to claim the dividend and participate in the AGM of the company.