Surya Life Insurance 9th AGM on Bhadra 27; to endorse 10% bonus & 40% right shares

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Sun, Aug 20, 2017 8:40 AM on Latest, AGM/Special AGM, Book Closure, Stock Market,
-ShareSansar
Surya life Insurance Company Limited (SLICL) will be convening its 9th Annual General Meeting (AGM) on Bhadra 27, 2074.  The AGM is going to be held at Udhyog Sangathan Morang meeting hall, Tinpaini, Biratnagar at 11 AM. The main agendas of the AGM are:
  1. To endorse 10% bonus share and 0.5269% cash dividend for tax purpose to its shareholders from the profit it earned in the fiscal year 2072/73.
  2. To endorse 40% right share after issuance of bonus share.
  3. After issuance of bonus share and right shares, its paid up capital will increase and amend Article of Association accordingly.
  4. 'If the shareholders of the company do not want to fill up right shares provided by the company then they can transfer the authority to the other shareholders and the other shareholder can own their shares,' to add the following in the clause 27 of the memorandum of association of the company .
  5. To endorse meeting allowance of various committees.
  6. To authorize BOD to make necessary amendments in the Article of Association as directed by concerned regulatory bodies.
Other agendas of the AGM include financial highlights of 2072/73  and appointment of auditor. The register of their shareholders will remain closed from Bhadra 9, 2074 till Bhadra 15 , 2074 for the purpose of its AGM. Only the shares registered one day ahead of the book closure date, i.e. Bhadra 8 are eligible for the bonus shares. A separate book closure notice will be published for the right share. SLICL had earned Rs 9.69 crore profit in the fourth quarter of the last fiscal year 2073/74. Its paid up capital currently stand at 65.62 crore. After the issuance of the proposed 10% bonus share and 40% right share, its paid up capital will reach Rs 1.01 arba. As per Insurance Board’s directive for all life insurance companies to increase their paid up capital to a minimum of Rs 2 arba by the end of FY 2074/75, SLICL will need to issue a further capital hike of around Rs 99 crore (98%).
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