Nepal Life Insurance 18th AGM on Chaitra 28; endorsing 42% bonus & 28.5% cash dividend

Nepal Life Insurance Company Limited (NLIC) will be convening 18^th Annual General Meeting (AGM) on Chaitra 28, 2074. The AGM is going to be held at Hotel Bhiswa, Birgunj at 9.30 AM. The main agendas of the AGM are:

• To increase authorized capital to Rs 8 arba.
• To endorse 42% bonus share and 28.5% cash dividend (including tax) from the net profit of FY 2073/74.
• To change promoter-public shareholding ratio from 70:30 to 60:40 by converting promoter shares into public.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of the FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date has been set on Chaitra 14, 2074. Thus only those shareholders owning their share till Chaitra 13, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM. The insurance company has reported a net profit of Rs 27.96 crore in the second quarter of the current fiscal year. Currently, it has a paid up capital of Rs 3.09 arba with reserve of Rs 5.02 arba. After the issuance of 42% bonus shares, its paid up capital will reach Rs 4.38 arba. Announcement