Sagarmatha Insurance to convene AGM on Ashad 13; to endorse the agenda of 86% bonus shares

Sagarmatha Insurance Company Limited (SIC) will be convening 22th Annual General Meeting (AGM) on Ashad 13, 2076. The AGM is going to be held at Amrapali Banquet, Bhatbhateni, Kathmandu at 11 AM.

The main agendas of the AGM are:

• To endorse 86% (86% of current paid up capital Rs 53.82 crore) bonus share to its shareholders for the FY 2074/75 and tax for bonus shares to be recovered from shareholders.
• To change the number of BOD’s to 7 as per direction from Beema Samiti.
• To endorse the agendas of CSR.
• To endorse the BOD's benefits, meeting allowances, daily allowances and other facilities.
• Other agendas of the AGM are major financial highlights of the FY 2073/74 and appointment of auditor for the FY 2074/75.
• Miscellaneous

The book closure date has been set on Ashad 1, 2076. Thus only those shareholders owning their share till Jestha 30, 2076 (Jestha 31 and 32 being no trading day) i.e. one trading day ahead of the book closure date are eligible to participate in the AGM and received dividend.

The insurance company has reported a net profit of Rs 20.63 crore in the third quarter of the current fiscal year. The current paid-up capital of SIC is Rs 53.82 crore and after the bonus adjustment, the new paid up capital will be Rs 1 arba.