Gurans Life to issue 8% bonus & 50% right share; 8th AGM on Ashad 9

Gurans Life Insurance Company Limited (GLICL) is going to conducts its 8^th Annual General Meeting (AGM) on Ashad 9, 2074. The AGM is going to be held at Baneshwor Banquet, Thapagaun, New Baneshwor, Kathmandu at 11:00 AM. The main agendas of the AGM are:

1. To endorse 8% bonus share and cash dividend worth Rs 23,15,789 from the profits it earned in FY 2072/73
2. To endorse issuance of 50% right share after distribution of 8% bonus share
3. After issuance of bonus and right share, its paid up capital will change, and amend its Article of Association (AOA) and Memorandum of Association (MOA) accordingly
4. To amend its AOA and MOA as per the directions received from regulatory authorities
5. To increase allowances of BOD and amend the memorandum of association accordingly

Other agendas of the AGM include endorsement of financial statements of FY 2072/73 and appointment of auditor for FY 2073/74. The register of their shareholders will remain closed from Jestha 29 to Asadh 9, 2074. Only those shareholders having shares one trading day of the book closure date i.e. until Jestha 28, 2074 are eligible for 8% bonus share and for participation in the AGM. Book closure date for 50% right share will be announced later after being endorsed by this AGM. Gurans Life Insurance Company Limited has earned net profit of Rs 2.88 crore in the third quarter of the FY 2073/74. After issuance of 8% bonus share and 50% right share, its paid up capital will reach Rs 89.10 crore. As per Insurance Board’s directive, GLICL should increase its paid up capital to a minimum of Rs 2 arba by the end of FY 2074/75.