Siddhartha Insurance 15th AGM today; to endorse 30% bonus & 19.23% right share

Siddhartha Insurance Limited (SIL) is convening its 15th Annual General Meeting (AGM) today (Poush 22, 2073). The AGM is being held at Pearl A Hall, Trade Towers, Thapathali, Kathmandu at 11:00 AM. Main agendas of the AGM are:

• To approve 30 percent bonus share and 1.578 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2072/73.
• To issue 19.23% right share worth Rs 8,62,12,500 endorsed by the 14th AGM after this bonus share is issued.
• To authorize BOD for necessary amendments as per necessary.

Other agendas of the AGM include financial highlights of 2072/73 and appointment of auditor. Only those shareholders owning shares till Poush 7, 2073 were entitled to the bonus share of the company. The register of their shareholders was closed from Poush 8, 2073 till Poush 22, 2073 for the purpose of its upcoming AGM. SIL earned net profit of Rs 3.80 crore in the first quarter of the fiscal year 2073/74. Its paid up capital remains at Rs 34.48 crore. After distributing 30 percent bonus and 19.23 percent right share, its paid up capital will rise to Rs 53.44 crore.