Kathmandu. The 76th Annual General Meeting of Nepal Insurance Company Limited has been concluded. The meeting was held at Nepal Pragya Pratishthan Kamaladi, Kathmandu.
The meeting has passed a special resolution to distribute bonus shares at the rate of 15 percent of the current paid-up capital and 0.79 percent cash dividend for tax purposes.
The meeting has discussed and passed the annual report of the Board of Directors for the fiscal year 2080/81, the balance sheet, profit and loss account and cash flow statement including the auditor’s report for the fiscal year 2080/81 and the related schedules.
The meeting has decided to appoint an auditor as per the recommendation of the Audit Committee to audit the company for the fiscal year 2081/82 and to approve his/her report. Determining remuneration. (The current auditor has been reappointed.
The special general meeting of the company held on 2081/02/04 decided that the percentage of right shares may be reviewed according to the paid-up capital after issuing 40 percent of the company’s current paid-up capital, i.e. 4 shares for every 10 shares, and after issuing 9 bonus shares, the issued and paid-up capital of the company will reach 2.94 billion rupees after issuing the bonus shares for the fiscal year 2080/81. Accordingly, the resolution has been passed to amend the provisions of Section 5 (b) and (c) of the company’s articles of association regarding the issued and paid-up capital.
The meeting approved the approval of the expenses incurred by the company under corporate social responsibility, the body recording the amended articles of association and regulations, or any other body or regulatory body. A proposal has been made to authorize the Board of Directors to act accordingly if instructions are received to make changes.
