National Life Insurance 28th AGM today; to endorse 30% bonus & 100% right share

National Life Insurance Company Limited (NLICL) is convening its 28^th Annual General Meeting (AGM) today (Mangsir 29, 2073). The AGM is going to be held at National Life Building, Central office, Lazimpat, Kathmandu at 10: 30 AM. Main agendas of the AGM are:

• To endorse 30 percent bonus share and 1.58 percent cash dividend including tax purpose from the net profit it earned from the fiscal year 2071/72.
• To endorse 100 percent right share after bonus share distribution viewing the prospect of capital increment by concerned authorities.
• After bonus and right share issuance, to increase its authorized and issued capital up to Rs 5 arba & Rs 3 arba respectively.

• To amend article of association and memorandum of association as per directed by registrar officer or insurance Board.

Other main agendas of the AGM include financial highlights of 2071/72, appointment of auditor, to amend the allowance of BOD members and to elect BOD member from group ‘B’. Only those shareholders owning shares till Mangsir 8, 2073 were entitled to the bonus share of the company. The register of their shareholders remained closed from Mangsir 9, 2073 till Mangsir 29, 2073 for the purpose of its AGM. A separate book closure date will be published for the right share. National life Insurance has earned net profit of Rs 5.05 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. It has paid up capital of Rs 1.01 arba. After distribution of 30% bonus share, its paid up capital will reach to Rs 1.31 arba. Likewise after issuance of 100% right share, its paid up capital will reach to Rs 2.62 arba.