NLG Insurance 12th AGM on Falgun 3; endorsing 25% bonus shares

NLG Insurance Company Limited (NLG) will be convening its 12^th Annual General Meeting (AGM) on Falgun 3, 2074. The AGM is going to be held at Nepal Tourism Board, Bhrikuti Mandap, Kathmandu at 10:00 AM. The main agendas of the AGM are:

• To endorse 25% bonus shares and 1.315% cash dividend (for tax) from the net profit of FY 2073/74.
• To increase issued and paid up capital of the company.
• To conduct election of Board of Directors (BOD).
• 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 for the AGM has been set on Magh 18 to Falgun 3, 2074. But only those shareholders holding their shares till Magh 17, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM. Its paid up capital will reach to Rs 64.06 crore from existing Rs 51.23 crore after 25% bonus shares. To meet the capital requirement of Rs 1 arba as directed by the Insurance Board, it should further hike its capital by Rs 35.94 crore (around 56.10%). It had earned Rs 24.38 crore in the FY 2073/74 and Rs 5.25 crore in the first quarter of the FY 2074/75. Announcement: