Siddhartha Insurance to endorse 25% bonus & 4:1 right share; AGM today

Siddhartha Insurance Limited (SIL) is convening its 14th Annual General Meeting (AGM) today (Chaitra 30, 2072). The AGM is going to be held at Pearls A Hall, Trade Tower, Thapathali, Kathmandu at 11:00 AM. Main agendas of the AGM are:

• To approve 25 percent bonus share from the net profit it earned from the fiscal year 2071/72.
• To endorse 4:1(25%) right share after bonus share is issued.
• To endorse help provided to earthquake victim.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.
• To elect 1 BOD member from public shareholders group.

Other Agendas of the AGM include financial highlights of 2071/72 and appointment of auditor. Only those shareholders owning shares till Chaitra 8 is entitled to the bonus share of the company. The register of their shareholders has been closed from Chaitra 11, 2072 till today for the purpose of its upcoming AGM. SIL earned net profit of Rs 6.08 crore in the second quarter of the fiscal year 2072/73. It’s paid up capital remains at Rs 27.58 crore. After distributing 25 percent bonus and 25 percent right share it’s paid up capital will reach to Rs. 43.08 crore.