NLG Insurance 12th AGM today; endorsing 25% bonus shares

NLG Insurance Company Limited (NLG) is convening its 12^thAnnual General Meeting (AGM) today (Falgun 3, 2074). The AGM is being held at Nepal Tourism Board, Bhrikutimandap, 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 Rs 24.38 crore it had earned in the FY 2073/74.
• To conduct election of Board of Directors (BOD).
• To increase issued and paid up capital of the company.
• 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 was 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%).