Asian Life Insurance 8th & 9th AGM today; to endorse 20% bonus & 50% right share

Asian Life Insurance Company Limited (ALICL) is convening its 8^thn and 9^th Annual General Meeting (AGM) today (Chaitra 17, 2073). The AGM is being held at the Hotel Vishuwa, Birgunj at 10:30 PM. The main agendas of the AGM are:

• To approve 20% bonus share and 1.05% cash dividend for tax purpose from the profit it earned in the fiscal years 2071/72 and 2072/73.
• To endorse 2:1 (50%) right share after issuance of bonus share.
• To increase authorized capital up to Rs 2 arba from existing Rs 1 arba and amend the article of association accordingly.
• To endorse the expenses done under Corporate Social Responsibility (CSR).
• To authorize BOD for necessary amendments in Article of Association and Memorandum of Association.

Other agendas of the AGM include financial highlights of FY 2072/73, appointment of auditor and election of one BOD member from public shareholders group. Only those shares registered one day ahead of the book closure date, i.e. Chaitra 2, 2073 are eligible for the bonus shares. The register of their shareholders has been closed from Chaitra 3, 2073 till Chaitra 17, 2073 for the purpose of its AGM. ALICL has earned Rs 2.08 crore in the second quarter of the fiscal year 2073/74. Its paid up capital remains at Rs 67.13 crore. After the issuance of 20% bonus and 50% right, its paid up capital will reach Rs 1.20 arba.