Kathmandu. Prabhu Mahalaxmi Life Insurance Company is going to hold its 9th Annual General Meeting (AGM) on January 12. The meeting will be held at Silver Oak Banquet and Event Centre, Gaindhara, Kathmandu at 11 am. The meeting was fixed as per the decision of the Board of Directors meeting of the company held on December 23.
The company has declared dividend of 8.421% of its current paid-up capital. Out of this offer, 4 percent is bonus share and 4.421 percent is cash dividend. The Assembly shall endorse the proposal.
The AGM will hold discussions and endorse the statement of the Chairperson, the annual report of the Board of Directors for the fiscal year 2081/82 (2081/82) along with the auditor’s report and financial statements (Statement of Profit or Loss, Statement of Cash Flow and other financial statements).
The meeting will endorse a proposal regarding appointment of external auditor for the fiscal year 2082/83 and determination of his/her remuneration (the current auditor is eligible for re-appointment pursuant to Section 111 (3) of the Companies Act, 2063.
The meeting shall approve the appointment of the members of the Board of Directors and pass a resolution conferring full authority on the Board of Directors to approve the appointment of the members of the Board of Directors and to make any suggestions or directions to amend the Memorandum of Association and Articles of Association or to make any linguistic changes, if any.
The AGM will endorse a proposal to maintain paid-up capital equivalent to Rs. 5,30,77,93,920 to be generated after the issuance of bonus shares and authorize the Board of Directors to make necessary amendments to the Memorandum of Association and Articles of Association accordingly and to approve the amount spent under Corporate Social Responsibility as per the provision of Section 105 (1) (c) of the Company Act.
The company will close its book on January 21 for the purpose of distributing dividends. Therefore, the shareholders who have been traded in NEPSE till January 20 will be able to participate in the meeting and receive dividends.
