Kathmandu. Nepal Life Investment Company, a subsidiary of Nepal Life Insurance, has convened its first annual general meeting today.
A meeting of the board of directors of the company has decided to hold its annual general meeting on September 14. The meeting will begin at 9:30 am at the Holiday Inn Express in Naxal, Kathmandu.
The meeting will pass a special proposal to increase the authorized capital of the company from Rs 5 billion to Rs 10 billion. The assembly will also approve another special proposal to issue 200 per cent right shares in the ratio of 1:2 of the existing paid-up capital.
After the issuance of right shares, the assembly will pass a proposal to increase the capital and paid-up capital issued accordingly as per the share structure.
The Meeting will approve the proposal to give authority to the Board of Directors to amend the company’s management letter and regulations and to act in accordance with the suggestions received from the regulatory body for amendment.
The assembly last fiscal year 2081. It will approve the annual and auditor’s report of 82. Current fiscal year 2082. The Assembly shall pass a resolution regarding the appointment of an auditor and determination of his remuneration for 82.
