Life Insurance Corporation Nepal's 15th AGM today: to endorse 24.80% bonus share

Life Insurance Corporation Nepal Limited (LICN) is convening its 15^th Annual General Meeting (AGM) today (Jestha 19, 2074).  The AGM is going to be held at Nepal Academy Hall, Kamaladi, Kathmandu at 9:00AM. The main agendas of the AGM are:

• To endorse 24.80 percent bonus share and 1.30 percent cash dividend for tax purpose to its shareholders from the profit it earned in the last fiscal year 2072/73.

• To increase capital of the company as directed by the insurance board.
• To increase meeting allowance of the BOD member.

The other agendas of the AGM include endorsement of financial highlights of the fiscal year 2072/73, appointment of auditor and to nominate BOD member from promoter shareholders group. The register of their shareholders was close from Jestha 5, 2074 to Jestha 19, 2073 for the purpose of this AGM. Only those shareholders having shares one trading day ahead of the book closure date i.e. till Jestha 4, 2074 are eligible for bonus share of the company and participation in the AGM. Life Insurance Corporation has earned Rs 49.87 crore in the third quarter of the current fiscal year 2073/74. Its paid up capital stands at Rs 1.06 arba and after issuance of 24.80% bonus share, its capital will reach Rs 1.31 arba.