Sagarmatha Insurance 20th AGM today; to approve 22% bonus share & issuance of FPO shares at premium price

Sagarmatha Insurance Company Limited (SIC) will be convening its 20^th Annual General Meeting (AGM) today (Poush 27, 2073). The AGM is going to be held at Aamrapali Banquet, Bhatbhateni, Kathmandu at 11: 00 AM. Main agendas of the AGM are:

• To endorse 22% bonus share and 1.157 percent cash dividend for tax purpose to its shareholders from the profit it earned in the last fiscal year 2072/73. The fractional bonus share will be rounded to the nearest whole number.
• To endorse issuance of Further Public Offering (FPO) shares at premium price.
• To authorize BOD to increase meeting allowance of subcommittee.

Only those shares registered one day ahead of the book closure date, i.e Poush 12, 2073 were eligible for the bonus shares. The register of the shareholders was closed from Poush 13, 2073 to till Poush 27, 2073 for the purpose of its AGM. Other agendas of the AGM include financial highlights of the FY 2072/73 and appointment of auditor. Sagarmatha Insurance had earned net profit of Rs 3.09 crore in the first quarter of the current fiscal year 2073/74 as per unaudited report. Its paid up capital remains at Rs 44.12 crore. After distributing 22 percent bonus, its paid up capital will reach to Rs.  53.82 crore.