Lumbini General Insurance conducts 13th AGM; endorses 12.82% bonus shares
Lumbini General Insurance Company Limited (LGIL) has conducted its 13th Annual General Meeting (AGM) in Kathmandu on Poush 14, 2074.
Presenting the financial highlights, balance sheet and other financial reports of the fiscal year 2073/74, newly re-elected chairman Mr. Manohar Das Mul highlighted that the insurance company has been able to clock profits from the beginning years of the company. He further informed that the insurance company has been able to scale up its collection of insurance premium by 45% to almost Rs 1.13 arba in the last fiscal year.
The insurance company had a paid up capital of Rs 39 crore by the end of fiscal year 2072/73 and had earned Rs 17.93 crore in that period. The AGM has endorsed the proposal to provide the bonus shares of 12.82 % to its shareholders including to those holding the right shares the company issued in the fiscal year 2074/75. With this bonus shares, the AGM has endorsed to hike up the paid-up capital of the insurance company to Rs 88 crore.
The AGM has also elected MR. Manohar Das Mul, Mr. Biswo Raj Regmi, Mr. Umesh Regmi and Mr. Arun Raj Shrestha as the board members from the promoter shareholders and re-elected Mr. Mul as the chairman of the company.
The insurance company had a paid up capital of Rs 39 crore by the end of fiscal year 2072/73 and had earned Rs 17.93 crore in that period. The AGM has endorsed the proposal to provide the bonus shares of 12.82 % to its shareholders including to those holding the right shares the company issued in the fiscal year 2074/75. With this bonus shares, the AGM has endorsed to hike up the paid-up capital of the insurance company to Rs 88 crore.
The AGM has also elected MR. Manohar Das Mul, Mr. Biswo Raj Regmi, Mr. Umesh Regmi and Mr. Arun Raj Shrestha as the board members from the promoter shareholders and re-elected Mr. Mul as the chairman of the company.
