Premier Insurance to float FPO of 6.59 lakh unit shares at premium; AGM today to endorse 30% stock dividend

Premier Insurance Company Limited (PIC) is convening its Annual General Meeting (AGM) today (Chaitra 17, 2072). The AGM is going to held at Boganvilla at Tripureshwor Kathmandu. The main agendas of the meeting are:

• To endorse 30% bonus share from the net profit it earned in the last fiscal year 2071/72.
• Authorize Board of Directors to complete all the task related to issuing further public offering (FPO) of 6,59,565 unit shares at premium price in order to maintain the promoter: public ratio to 51:49.
• To amend the article and memorandum of the association.

The other agendas of the AGM include Financial highlights of 2071/72, appointment of auditor, endorse bonus share of Rs 29,38,753 for tax purpose and elect 2 BOD Members from the public shareholder group. Only those shareholders owning shares till Chaitra 3, 2072 is entitled to the dividend of the company. The register of their shareholders has been  closed from Chaitra 4, 2072 till today for the purpose of its AGM. Premier Insurance had earned net profit of Rs. 1.35 crore in the first quarter of current fiscal year 2072/73 unaudited report. It’s paid up capital remains at Rs. 28.75 crore. After distributing 30 percent bonus share it’s paid up capital will rise to Rs. 37.37 crore