Neco Insurance 20th AGM today; to endorse 15% bonus shares

Neco Insurance Limited (NIL) is holding its 20^th Annual General Meeting (AGM) today (Chaitra 12, 2072). The AGM is going to be held at Nepal Administrative Staff College, Jawalakhel Lalitpur at 10:00 AM. The main agendas of the AGM are listed below:

• To endorse 15 percent bonus shares and cash dividend for tax purpose from the net profit it earned from the fiscal year 2071/70.
• To increase issued and paid up capital.
• To endorse 1:1 right share to be issued after proposed bonus share.
• Authorize BOD to amend article of association and memorandum of understanding as per directed by registrar officer or the Nepal Rastra Bank.

• To open assistant company as per law.

Other agendas of the AGM are the financial highlights of 2071/72 and appointment of auditors. Only those shareholders owning shares till Falgun 27 is entitled to the dividend of the company. The register of their shareholders has been closed from Falgun 28 to  till today for the purpose of its upcoming AGM. Neco Insurance Company had earned net profit of Rs.3.34 crore in second quarter of the fiscal year 2072/73.