Prudential Insurance to convene its 4th AGM today; to endorse 10% stock dividend

Prudential Insurance Company Limited is convening its 4^th Annual General Meeting today ( Ashad 2, 2073). The AGM is being held at Hotel Bhisuwa, Birgunj, Parsa at 3 PM. The main agendas of the meeting are:

• To endorse 10% bonus share from the net profit earned in the last fiscal year.
• To postpone the decision of conversion of 29% promoter share to ordinary share and maintain 51% shares of promoter shareholder group
• To amend the article of association and memorandum of association
• To endorse the help provided to the earthquake victims

Other agendas of the AGM include financial highlights of 2070/71, appointment of auditors, to elect 4 BoD members from a promoter shareholders group. Only those shareholders owning shares till Jestha 17 are entitled to the bonus share of the company. The register of their shareholders has been closed from Jestha 18, 2073 till today for the purpose of its upcoming AGM. PICL has earned net profit of Rs 7.17 crore in the third quarter of the fiscal year 2072/73 It’s paid up capital remains at Rs 32.40 crore. After distributing 10 percent bonus share its paid up capital will reach to Rs. 35.64 crore.