Lumbini General Insurance 12th AGM on Mangsir 30; to endorse 18.18% bonus & 100% right share

Lumbini General Insurance Company Limited (LGIL) will be holding its 12^th Annual General Meeting (AGM) on Mangsir 30, 2073. The AGM will be held at Amritbhog, Kalikasthan, Dilli Bazaar, Kathmandu at 11:00 AM. The main agendas of the meeting are:

• To increase paid up capital up to Rs 1 arba from existing Rs 50 crore. Also to increase issued capital up to Rs 78 crore from Rs 33 crore.
• To endorse 18.18% bonus share to its shareholders from the net profit it earned in the fiscal year 2072/73.
• To issue 100 percent right share after bonus share distribution.
• To amend the articles 5 (a), 5(b) and 5 (c) of the association.
• To authorize BOD for necessary amendments.
• To review on BOD meeting allowance.

Other agendas of the AGM include financial highlights of 2072/73, endorsement of Rs 39, 57, 875 cash dividend for the tax purpose and appointment of auditor. Only those shareholders owning shares till Mangsir 14, 2073 will be entitled to the bonus share of the company. The register of their shareholders will remain close for one day on Mangsir 15, 2073 for the purpose of its upcoming (AGM). A separate book closure date will be published for the right share. LGIL has earned net profit of Rs. 3.88 crore in the first quarter of the fiscal year 2073/74.