Prudential Insurance 16th AGM on Magsir 1; to endorse 20% bonus shares

Prudential Insurance Company Limited (PICL) will be holding its 16^th Annual General Meeting (AGM) on Mangsir 1, 2074. The AGM is going to be held at Hotel Ichha, Simara. The main agendas of the AGM are:

• To endorse 20% bonus shares,
• To increase authorized and paid up capital.
• To amend Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of the FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM has been set from Kartik 17 to Mangsir 1, 2074. Thus, shareholders holding their shares till Kartik 16, 2074 are eligible to participate in the AGM and proposed dividends. PICL has been seeking approval from Securities Board of Nepal (SEBON) for 30% right share. ICRA Nepal Limited has assigned IPO Grade 3 rating to the upcoming 30% right share, indicating average fundamentals. Its current paid up capital stands at Rs 42.76 crore. After 20% bonus and 30% right shares, it will reach to Rs 64.20 crore. It has earned 17.13 crore in the fourth quarter of the FY 2073/74.