United Insurance to issue 240% right shares to meet the minimum capital requirement; Special AGM will be convened for this purpose

Wed, Feb 6, 2019 12:28 PM on Dividend, Bonus & Rights, Latest, NEPSE News,
United Ins...

United Insurance Company (UIC) has published a notice on NEPSE regarding increment of capital through right share issue.

As per the notice, the BOD meeting held on 22nd Magh has decided to issue 1:2.4 right shares to the shareholders for the purpose of meeting the minimum capital requirement proposed by the Beema Samiti.

This decision to issue right shares will be subject to approval from Beema Samiti and a special AGM will be convened to endorse this decision upon receiving approval from the insurance board.

The current paid up capital of the company is Rs.30.24 Crore which will reach Rs.1.02 Arba after the adjustment of the proposed right.