NLG Insurance conducts SGM; proposes to issue 60% right shares against the wish for bonus shares

NLG Insurance has convened its Special AGM on Jestha 14, 2076 through which it has endorsed the decision to provide right shares in the ratio of 10;6 to its shareholders. chairman Mr. Bimal Prasad Wagle who chaired the SGM informed that the insurance company couldn’t go ahead with the earlier plan to issue bonus shares and before the right shares due to the reporting gap of NFRS.

After the decision, the insurance company will issue 60% right shares of current Rs 64.04 crore worth paid up capital. Following the increment, the paid up value of the insurance company will touch the required Rs 1.02 arba mark, as per the statement.