NB Insurance 18th & 19th AGM approved 100% right share; Paid up to reach Rs 54 crore
Sun, Dec 4, 2016 11:40 AM on Latest, Featured, AGM/Special AGM, Stock Market,
NB Insurance Company Limited has successfully conducted its 18th and 19th Annual General Meeting (AGM) on Mangsir 17, 2073 at its head office, Narayanchaur, Naxal.
Mr. Ambika Prasad Poudel, Chairman of NB Insurance said, “NB Insurance has been providing services from 30 places. At present, the insurance company is rendering services through 17 branch offices, 5 contact offices and 8 service counters. It also aims to reopen closed branches and to provide more services in upcoming days.”
Issuing the press statement, the company said that it has successfully been able to audit its financial statements and then conduct AGMs of four fiscal years at once last year, and now the company has assured to audit its yearly reports and conduct AGMs on time and comply with the directions provided by the regulatory bodies. Following this assurance, it conducted two AGMs this year as well.
Earlier, the company had issued 10:8 (80%) right share to its shareholders and increased its capital up to Rs 27 crore. Its 18th and 19th AGM has approved to issue 100% right share to its shareholders. After issuance of 100% right share, its paid up capital will increase to Rs. 54 crore.
Main agendas of the SGM were:
- To increase issued capital to Rs. 54 crore.
- To issue 1:1 right share to increase paid up capital.
- To increase issued and paid up capital and amend article of association accordingly.
- To change the logo and name of the company.
- To authorize BOD for necessary amendments.
