Everest Insurance to endorse 20% bonus & 600% right share; AGM of 5 years on Asadh 23

Everest Insurance Company Limited (EIC) is going to conducts its Annual General Meeting (AGM) for FY 2068/69, 2069/70, 2070/71, 2071/72 and 2072/73 on Asadh 23, 2074. The AGM is going to be held at Agrawal Bhawan, Kamalpokhari, Kathmandu at 2:00 PM. The main agendas of the AGM are:

1. To endorse 20% bonus share and cash dividend worth Rs 10,65,789/- for tax purpose
2. After issuance of bonus share, to endorse 600% right share on its paid up capital of Rs 12.15 crore
3. To increase its issued capital and authorized capital
4. To amend Article of Association and Memorandum of Association as per directions received from regulatory authorities

Other agendas of the AGM are endorsement of financial statements of FY 2068/69, 2069/70, 2070/71, 2071/72 and 2072/73, and appointment of auditor for FY 2073/74. The register of their shareholders will remain closed from Asadh 9 to Asadh 23, 2074 for the purpose of this AGM. Only those shares traded one day ahead of the book closure date i.e. within Asadh 8, 2074 are eligible for bonus share and for participation in the AGM. EIC’s current paid up capital remains at Rs 10.12 crore. After issuance of 20% bonus share, its paid up capital will reach Rs 12.15 crore. Similarly, after issuance of 600% right share, its paid up capital will reach Rs 85.05 crore. As per Insurance Board’s directive, EIC should increase its paid up capital to a minimum of Rs 1 arba by the end of FY 2074/75.