Kathmandu. National Life Insurance has decided to hold its 37th Annual General Meeting (AGM) at the company’s central office in Lazimpat on June 15. The AGM will approve a proposal to distribute cash dividend of Rs 521.213 million at the rate of 10 per cent of the existing paid-up capital and bonus shares worth Rs 266 million 654.10 at the rate of 5 per cent.
Similarly, the AGM will also approve a proposal to adjust Rs 41,148,418.70 at the rate of 0.789473 per cent for tax purposes on shares and cash dividends.
The current paid-up capital of the company is Rs 5.21 billion. After the distribution of bonus shares, the paid-up capital of the company will exceed Rs 5.47 billion.
To further amend Section 8 (c) of the approved Memorandum of Management and Rule 4 (c) of the Regulations by increasing the paid-up capital of the company for the AGM, according to Section 105 (1) C of the Companies Act 2063, the financial year 2080. It will also discuss a special proposal to authorise the board of directors to approve the expenditure incurred in Article 81, if any directive is received from the body recording the revised management letter and regulations or the regulatory body to make any changes.
Similarly, the AGM will elect a total of five directors of the board of directors. It will elect three directors from the founding group and two from the general group.
The assembly will approve the annual report of the last fiscal year and the auditor’s report. The same meeting for the current fiscal year 2081. It will approve the proposal regarding the appointment of an auditor and determination of his remuneration for 82.
The company had closed the book on June 15. This means that only the shareholders who have been retained before June 15 will be eligible to receive dividends and participate in the AGM of the company.
