Prabhu Insurance 21st AGM today; to endorse 17% bonus & 50% right share

Prabhu Insurance Company Limited (PRIN) is convening its 21^st Annual General Meeting (AGM) today (Kartik 12, 2073).  The AGM is going to be held at Prabhu Complex, Tinkune Kathmandu at 12:30 PM. The main agendas of the AGM are:

• To endorse 17% bonus share and 0.73 % cash dividend for tax purpose to its shareholders from the profit it earned in the fiscal year 2072/73.
• After bonus share is distributed, to endorse 2:1 (50%) right share to its existing shareholders.
• To amend article of association and memorandum of association as per directed by registrar officer.

Other agendas of the AGM include financial highlights of 2072/73 and appointment of auditor. The register of their shareholders has been closed from Kartik 2, 2073 till today for the purpose of its AGM. Only the shares registered one day ahead of the book closure date, i.e. Kartik 1 will be eligible for the bonus shares. A separate book closure date will be published for the right share. Prabhu Insurance has earned net profit of Rs 14.86 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at 32.90 crore. After issuance of 17% bonus share & 50% right share its paid up capital will reach Rs 57.73 crore.