Lumbini General Insurance 11th AGM on today; To endorse 13.06% stock dividend

Lumbini General Insurance Company Limited (LGIL) is holding its 11^th Annual General Meeting (AGM) today. The AGM is being held at Celebration Banquet,Naxal, Bhagawati Bahal, Kathmandu at 11:00 AM. The main agendas of the meeting are:

• To increase paid up capital up to Rs 50 crore from existing Rs 30 crore. Similarly, to increase issued capital up to Rs 33 crore from Rs 30 crore
• To endorse 13.06% bonus share from the net profit of fiscal year 2071/72.
• To amend the articles 5 (a), 5(b) and 5 (c) of the association.
• To elect 3 BOD members from public shareholders group.

Other Agendas of the AGM include financial highlights of 2071/72, endorse 0.14% cash dividend for the tax purpose and appointment of the auditor. Only those shareholders owning shares till Magh 28 will be entitled to the dividend of the company. The register of their shareholders remained close for one day on Magh 29, 2072 for the purpose of its upcoming (AGM). LGIL has earned net profit of Rs. 2.82 crore in its first quarter of the fiscal year 2072/73.