Everest Insurance AGM endorses 1:1.5 right shares, plan to increasing capital

ShareSansar, February 25:

Special Annual General Meeting of Everest Insurance Company Limited (EIC) was held on Falgun 12 at Agrawal Bhawan, Kamalpokhari.  Speaking at the occasion, the head of Board of Directors, Mr. Surendra Silwal, informed about company’s current activities, future plans and strategies for increasing the company’s of capital.

At the special AGM, the shareholders discussed the special offer forwarded by the Board of Directors related to capital increment. The meeting passed the BoD’s proposal of raising the authorized capital from Rs 15 crore to Rs 40 crore, and the issued capital of Rs 10.50 crore to Rs 30 crore.

The meeting has decided to provide right shares to shareholders at the ratio of 1:1.5 which is based on the company’s present paid-up capital.  The agenda of appointment of auditor and his salary was also endorsed by the meeting.