Kathmandu. Prabhu Mahalakshmi Life Insurance Company is going to hold its 8th Annual General Meeting (AGM) on June 12. The meeting will be held at Amrapali Banquet Bhatbhateni at 11:00 am. A meeting of the board of directors of the company held on May 29 decided the date of the meeting.
The company has decided to distribute a dividend of 8.421 percent of the current paid-up capital from the distributable profit of the last fiscal year. This includes 8 percent bonus share and 0.421 percent cash dividend for tax purposes. The assembly will approve the proposal.
The meeting will discuss and approve the chairman’s statement and the annual report of the board of directors for the fiscal year 2080/81 BS. The meeting will pass the financial statements including balance sheet, profit and loss account, cash flow statement for the fiscal year 2080/81 along with the auditor’s report.
The Meeting shall pass regarding the appointment of an external auditor for the financial year 2081/82 and determination of his remuneration in accordance with Section 111 (3) of the Companies Act, 2063 (the current auditor is eligible for re-appointment).
The Assembly shall pass a resolution approving the appointment of directors, giving full authority to the Board of Directors to carry out any changes or instructions by the regulatory bodies to make changes or additions in the Memorandum of Management and Regulations, or if any linguistic changes have to be made.
The meeting has decided to issue 7 percent of the paid-up capital right shares from the 7th Annual General Meeting, but after the distribution of the proposed bonus shares, the paid-up capital fixed by the regulatory body will remain intact.
The Assembly will pass resolutions including approval of the amount left under corporate social responsibility as provided in Section 105 (1)(c) of the Companies Act.
The company has decided to close the book for one day on May 15 for the purpose of general meeting and dividend distribution. Therefore, the shareholders who have been traded in NEPSE till May 15 will be able to receive the proposed dividend and participate in the meeting.
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