Gurans Life FY 69/70 6th AGM today at 3:00 pm ; No dividend this time

ShareSansar, July 17:

Gurans Life Insurance Company Limited (GLICL) is holding its 6th Annual General meeting (AGM) today (Shrawan27, 2072) . The AGM will be held at Celebrations Banquet, Thirbum Marg  Naxal   Kathmandu at 3:00PM.

GLICL 6th Annual General Meeting (AGM) on Shrawan27, 2072 is of Fiscal Year 2069/70.

Now it needs to hold its AGM for the fiscal year 2070/71 and 2071/72. The AGM has not proposed any dividend.

Company Act 2063 requires all public companies to hold their Annual General Meeting every year.

The main agenda of the AGM is to make decision on the conversion of 19% promoter shares to the ordinary shares. If the proposal of conversion is passed from the AGM, the promoter shares to ordinary shares ratio of the company will stand at 51:49 percent, before the ratio stands at 70:30.

A new Board of Director (BoD) will be formed after the change in share structure. It will comprise of 4 members from Board of Director, 2 from General Public and 1 as Independent member forming a 7 member in BoD.

Other agenda include financial highlights of 2069/70, appointment of auditor and to amend article of association.

Gurans Life Insurance had reported net profit of Rs.1.58 crore in its third quarter company analysis of the fiscal year 2071/72.