Kathmandu. NLG Insurance Company has called its 20th Annual General Meeting (AGM).
The meeting of the Board of Directors of the company held on Tuesday decided to hold the AGM on January 14. The event will begin at 1:30 pm at Silver Oak Banquet and Events Centre in Gairidhara, Kathmandu.
The meeting held the last fiscal year 2081. The company will approve a total dividend of 7.3684 percent out of the current paid-up capital of Rs 2.56 billion. Out of this, 4 percent will have bonus shares worth Rs 10,26,08,978 and 3 percent cash dividend of Rs 7,69,56,733. For both the dividends, the company has set aside 0.3684 percent i.e. Rs 9.450 thousand 827 for tax purposes.
The meeting will endorse a special proposal to amend the Memorandum of Association and Articles of Association accordingly as the paid-up capital of the company will reach Rs 2.66 billion after the bonus share distribution. The meeting shall also endorse a proposal authorizing the Board of Directors to carry out any suggestion or direction received from the regulatory bodies for amendment.
The meeting approved the annual and auditor’s report of the last fiscal year and the current fiscal year 2082. The meeting will also approve a resolution regarding the appointment of an auditor and determination of his/her remuneration for Province 83.
The company has decided to close the book on January 22 for the purpose of dividend and AGM. This means that only the shareholders who have been held before January 22 will be eligible to receive the dividend and attend the meeting.
