Himalayan General Insurance and NLG Insurance AGM today; to endorse bonus and right

NLG Insurance Company Limited (NLG) is convening its AGM today (Poush 29, 2073) at Nepal Tourism Board, Bhrikutimandap, Kathmandu. The AGM will be endorsing 25 percent stock dividend and 1.31% cash dividend to its shareholders for the FY 2072/73. NLG had distributed 20 percent bonus share to its shareholders from the profit it made in the fiscal year 2071/72. NLG Insurance has earned net profit of Rs 4.35 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. Its paid up capital remains at Rs 40.98 crore. After the issuance of 25 percent bonus share, the paid up capital will rise to Rs 51.22 crore. Likewise, Himalayan General Insurance Company Limited (HGI) is also convening its 23^rd Annual General Meeting (AGM) today (Poush 29, 2073). The AGM will be held at Trade Tower Nepal, Thapathali, Kathmandu at 2 PM. Main agendas of the AGM are:

• To endorse 20% bonus shares and 1.05% cash dividend including for tax purpose from the net profit it earned from the fiscal year 2072/73.
• To amend the right share ratio from 1:2.2 (220%) to 1:1.66 (166%) after amendment in bonus shares. Earlier, the insurance company’s SGM held on Ashwin 7 had endorsed 1:2.2 (220%) right shares to its shareholders. After issuance of 20% bonus and 166% right share, its paid up capital will reach Rs 1.02 arba.

Other agendas of the AGM include financial highlights of the FY 2072/73, appointment of auditor and to increase allowance of BOD members. Only those shares registered one day ahead of the book closure date, i.e. Poush 12, 2073 were eligible for the bonus shares. The register of their shareholders was closed from Poush 13, 2073 till Poush 29, 2073 for the purpose of its AGM. Himalayan General Insurance has earned net profit of Rs 1.97 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. Its paid up capital remains at Rs 32.10 crore. After the issuance of 20 percent bonus & 166% right share the paid up capital will rise to Rs 1.02 arba.