Prabhu Insurance AGM on Poush 3, to endorse 12 % bonus share

Prabhu Insurance Limited (PRIN) will be convening its 20th Annual General Meeting (AGM) on Poush 3 (December 18). The AGM is going to be held at Prabhu Complex, PraBhu Insurance Limited, Tinkune Kathmandu at 12:30 AM. Main agendas of the AGM are:

• To approve 12 percent bonus share from the net profit it earned from the fiscal year 2071/72.
• To propose for increasing the current paid up capital to Rs 32.90 crore.
• Another main agenda is conversion of promoter – public shareholder structure to 51% promoter shares and 49% ordinary shares.
• To amend article of association and memorandum of association, if any, as per directed by registrar officer or Nepal Rastra Bank

Other Agendas of the AGM include financial highlights of 2071/72 and appointment of auditor. At present PRIN has a paid up capital of Rs 29.38 crore. After the issuance of 12 % bonus shares, its paid up capital will reach to Rs 32.90 crore. Prabhu Insurance Limited had earned net profit of Rs 5.03crore in its fourth quarter of the fiscal year 2071/72.