Kathmandu. The share price of United Ajod Insurance has been adjusted.
The Nepal Stock Exchange (NEPSE) has adjusted the share price of United Ajod Insurance at Rs 556.62 per share for dividend purposes. According to the previous last trading price, it was Rs 612.28 per share. Now according to the adjusted price, the shares of this company will come into trading.
The company has decided to hold its 31st Annual General Meeting on July 15. The meeting will begin at 10:30 am at Amrapali Banquet and Event in Bhatbhateni, Kathmandu.
The company has decided to close the book today for the purpose of annual general meeting and dividend. This means that only the shareholders who have been in office till June 15 are eligible to receive dividends and participate in the meeting.
Last fiscal year 2080. It will approve a total dividend of 10.5263 percent of the current paid-up capital of Rs 2.10 billion proposed for 81. This includes 10 percent bonus share and 0.5263 percent cash dividend for tax purposes.
The meeting will pass a special proposal to issue 10 percent rights of the paid-up capital of Rs 2.31 billion to be maintained after the distribution of bonus shares. Prior to the announcement of bonus shares, the company was preparing to take a special proposal to issue right shares at 15 percent of the current paid-up capital of Rs 2.10 billion. However, after the distribution of bonus shares, the company has reduced the size of the right shares to 10 percent.
After the issue of right shares, the paid-up capital of the company will be Rs 2.54 billion. Nepal Insurance Authority (NEA) has fixed the minimum paid-up capital of non-life insurance companies at Rs 2.5 billion.
Similarly, the Assembly will approve a proposal to authorise the Board of Directors to make any changes in the company’s management letter and regulations if it receives instructions from the regulatory body to make any changes in the company’s management letter and regulations.
The meeting will approve the appointment of directors. Besides approving the annual and auditor’s financial report for the last fiscal year, the assembly will also approve the proposal regarding the appointment of auditors and determination of their remuneration for the current fiscal year.
