Neco Insurance SGM today; to convert promoter shares into ordinary & invite strategic partner

Neco Insurance Limited (NIL) is conducting its Special General Meeting (SGM) today (Chaitra 27, 2073). The SGM is being held at Nepal Tourism Board, Bhrikutimandap, Kathmandu at 11:00 AM. The main agendas of the SGM are:

1. To convert its promoter shares to ordinary shares and maintain the shareholding structure of promoter and ordinary at 51:49 ratio.
2. To invite strategic partner.

The register of their shareholders was closed on Chaitra 13, 2073 for the purpose of this SGM. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. Chaitra 10, 2073 are eligible for participation for this SGM. NIL’s paid up capital after the recently issued 100% right share will reach Rs 71.28 crore with promoter-general public shareholding structure at 60:40. It had earned net profit of Rs 7.33 crore up to the second quarter of the fiscal year 2073/74.