Premier Insurance 23rd AGM today; to endorse 20% bonus share & to float FPO shares at premium

Premier Insurance Company limited (PIC) is convening its 23rd Annual General Meeting (AGM) today (Poush 14, 2073). The AGM is being held at Began Villa, Tripureswor, Kathmandu. Main agendas of the AGM are:

• To endorse 20 percent bonus shares and 1.05 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2072/73. The fractional bonus share will be rounded to the nearest whole number.
• To increase authorized capital up to Rs 2 arba and issued capital up to Rs 1.50 arba and amend the article of association accordingly.
• After issuance of bonus share to float Further Public Offering (FPO) at premium price as approved by 22^ndAGM of the company.
• To increase meeting allowance of BOD members.
• To authorize BOD to amend the article and memorandum of the association as per necessity.

The other agendas of the AGM include financial highlights of 2072/73 and appointment of auditor. Only those shareholders owning shares till Poush 6, 2073 were entitled to the dividend of the company. The register of their shareholders was closed from Poush 7, 2073 till today for the purpose of its upcoming (AGM). Premier Insurance had earned net profit of Rs. 2.04 crore in the first quarter of current fiscal year 2073/74 unaudited report. Its paid up capital remains at Rs. 37.37 crore. After distributing 20 percent bonus share, its paid up capital will rise to Rs. 44.84 crore.