Prime Life Insurance Company Calls AGM on Poush 24 to Endorse Dividend and Merger Related Agendas

Prime Life Insurance Company Limited (PLIC) has called its 15th AGM on 24th Poush, 2079. The meeting will be held in Agrawal Bhavan, Kamalpokhari, Kathmandu, starting from 2 PM that day.

Among other agendas, the AGM will approve the draft of the preliminary agreement regarding the merger of Union Life Insurance Limited (ULI) and Prime Life together with Gurans Life Insurance Limited (GLICL) and give all the necessary work related to the merger to the Board of Directors. The meeting will also pass a proposal to appoint appraisers, consultants, and auditors to evaluate the assets and liabilities of the company, determine their remuneration, appoint an actuarial appraiser and determine their compensation. The meeting will also pass an agenda regarding the amendment of the Articles of Association.

Furthermore, the meeting will endorse a 13% dividend for the fiscal year 2077/78. The 162nd meeting of the board of directors held on Kartik 02 proposed a 13% bonus shares worth Rs. 36,13,50,05 and a cash dividend worth Rs. 1,90,18,422 from the paid-up capital of Rs. 2.77 Arba for the fiscal year 2077/78. Thus, cash dividend will be distributed for tax purposes. There's also an agenda to convert promoter to public shareholding ratio from 60: 40 to 51: 49.

Poush 08 is the book closure date. Thus the shareholders maintained before that day are eligible for dividend payout and can also attend the AGM.

AGM Notice