Kathmandu. The 29th Annual General Meeting (AGM) of Prabhu Insurance has concluded today. The meeting was held at Prabhu Complex, Tinkune, Kathmandu.
The company has decided to distribute 18 percent bonus shares and 0.9474 percent cash dividend (including tax) to its shareholders from the profits of the last fiscal year. The assembly has approved the proposal.
The meeting discussed and approved the annual report submitted on behalf of the Board of Directors. The committee has approved the schedules including the profit and loss account for the fiscal year 2080/81 and the cash flow statement of the same period, profit and loss sharing account, changes in equity and financial statements related to the annual financial statement along with the report of the auditor.
The meeting has decided to appoint auditors for the year 2081/082 and determine the workers, keep the post-decimal points to be maintained while distributing bonus shares in the name of the respective shareholders, issue 50.15 percent right shares from the company’s 28th Annual General Meeting, and distribute 18 percent bonus shares from the distributable profit up to the financial year 2080/081. A proposal has been passed to issue 47 percent right shares of the paid-up capital to be maintained after distribution.
The meeting has passed various resolutions including maintaining the ratio of founder shares to general shares, making necessary amendments in the company’s management letter and regulations, giving full authority to the board of directors to implement the revised management letter and regulations by making amendments or alterations accordingly if any amendment or change is received from the body that records or approves the revised management letter and regulations.
