Citizen Life Insurance’s 1st AGM on Baishakh 7; to endorse IPO issue & financial highlights from FY 2063/64 to 2073/74

Citizen Life Insurance Company Limited (CLICL) will be conducting its 1^st Annual General Meeting (AGM) on Baishakh 7, 2075. The AGM is going to be held at Shikhar Biz Center, Thapathali, Kathmandu at 1:00 PM. The main agendas of the AGM are:

• To endorse IPO issue
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).
• To endorse the meeting allowance of the Board of Directors.

Other agendas of the AGM include endorsement of financial highlights of the FY 2063/64 to 2073/74, appointment of the auditor for the FY 2063/64 to 2074/745 and appointment of the auditor for FY 2074/75 and the board of directors. CLICL is a 70:30 public limited company, promoted by Shikhar Insurance Company, Kantipur Media Group, Aviation Industries, Bankers, eminent Industrialists and Businessmen and Professionals. CLICL is operating with the authorized capital of Rs 3 arba and issued capital of Rs 2.5 arba. The current paid up capital of the company is Rs 1.75 arba which is 70% of the total issued capital. Hence, the company will be issuing IPO of the remaing 30% of the total issued capital, amounting to Rs 75 crore. The company had earned Rs 5.14 crore in the second quarter of the current FY 2074/75. See the notice of AGM here