Lumbini General Insurance 13th AGM on Poush 14; to endorse 12.82% bonus shares

Lumbini General Insurance Company Limited (LGIL) will be convening its 13^th Annual General Meeting (AGM) on Poush 14, 2074. The AGM is going to be held at Amritbhog, Dillibazar, Kathmandu at 11:00 AM. The main agendas of the AGM are:

• To endorse 12.82% bonus share and Rs 52,63,158 cash dividend (for tax purpose) from the net profit of FY 2073/74.
• To conduct election of Board of Directors (BOD).
• To increase the paid up capital from Rs 78 crore to Rs 88 crore.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of the FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM has been set on Mangsir 29, 2074. Thus only those shareholders holding their shares till Mangsir 28, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM and proposed dividend. Its current paid up capital stands at Rs 78.30 crore. It had floated 100% right shares to its shareholders. Thus after adjustment of bonus shares, its paid up capital will reach to Rs 88.30 crore. To meet the capital requirement of Rs 1 arba, it should further hike its capital by Rs 11.70 crore (around 13%). It had earned Rs 3.90 crore in the first quarter of the FY 2074/75. Announcement: