Neco Insurance 19th AGM today; to endorse 12.71% bonus shares
Fri, Oct 2, 2015 9:46 AM on Latest, Featured, AGM/Special AGM,
Neco Insurance Company Limited (NIL) is holding its 19th Annual General Meeting (AGM) today (Ashwin 15, 2072). The AGM is going to be held at Nepal Prasasanik Prasikshan Pratisthan, Jwalakhel Lalitpur at 10:00 AM.
The main agendas of the AGM are listed below:
- To elect 4 BOD members from promoter shareholders,
- To endorse 100:12.71 bonus shares and cash dividend for tax purpose from the net profit it earned from the fiscal year 2071/70. The fractional bonus share will be rounded to the nearest whole number. For example shareholders who are entitled to12.12 kittas of bonus share will only be awarded 12 kitta of bonus share. Meanwhile shareholder who is entitled 12.85 kittas of bonus share will receive 13 kittas of bonus share.
- Authorize BOD to initiate process to issue right share after bonus share is issued.
- To amend the article of association and increase the authorized capital and issued capital at Rs 1 arba and 60 crore respectively.
- To provide Rs 5000 to BOD member on title ‘mobile and newspaper expenses’.
- Authorize BOD to initiate merger or acquisition process with other insurance company.
- Financial highlights of 2070/71.
- To elect 5 BOD members from promoter group ( 3 from section (A) and 2 from section (B)).
- Miscellaneous agenda.
