Nepal Insurance Company’s 69th AGM today; to endorse 4.52% bonus shares
Fri, May 4, 2018 1:00 AM on AGM/Special AGM, Dividend, Bonus & Rights, Latest, Stock Market,
Nepal Insurance Company Limited (NICL) is convening its 69th Annual General Meeting (AGM) today i.e. Baisakh 21, 2075. The AGM of the non-life insurance company is going to be held at Airport Hotel, Sinamangal. The book closure date for the general meeting was set on Baisakh 7, 2075 i.e. the shareholders holding shares of Nepal Insurance Company till Baisakh 6 will be eligible for participating in the AGM.
The board meeting of the company has proposed bonus shares of 4.5238% for its shareholders worth Rs 1,36,61,484.97 from the profit of FY 2073/74. The company has already declared 100% right shares for its shareholders. The current paid up capital of Rs 30.19 crore will increase to Rs 61.76 crore after the adjustment of 100% right shares and 4.5238% bonus shares.
The company will again issue 65% right shares worth Rs 40.14 crore and increase its paid up capital to Rs 1.01 arba. As per the directive of Insurance Board, non-life insurance companies should hike their paid-up capital to a minimum of Rs 1 arba by the end of FY 2074/75.
