Kathmandu. United Ajod Insurance Limited has convened its 31st Annual General Meeting (AGM) on Monday. As per the decision of the board of directors of the company, the meeting has been called at 10 am at Amrapali Banquet Catering and Event Pvt Ltd.
The meeting will pass a proposal to provide 10 per cent bonus shares based on the company’s current paid-up capital of Rs 2.10 billion and 0.52 per cent cash dividend for tax purposes.
Nepal Insurance Authority (NICA) has directed the non-life insurance company to keep the minimum paid-up capital at Rs 2.5 billion. However, since the paid-up capital will increase after the distribution of bonus shares, the right percentage will be revised to issue 10 percent i.e. 10 units equal to 100 units.
The meeting will pass the annual report proposal for the last fiscal year.
The meeting will also pass a resolution to approve the auditor’s report and other financial statements and determine his remuneration by appointing an auditor for the current fiscal year and approving the appointment of directors.
The meeting will pass a proposal to amend the provisions related to the remuneration, allowances and facilities of the directors and authorize the board of directors to make necessary amendments in the company’s management letter and regulations.
In addition, the company has decided to close the book for one day on July 15 for the general purpose. According to a notice issued by the company, only the shareholders of the Nepal Stock Exchange (NEPSE) will be eligible to participate in the meeting and receive the dividend approved by the meeting.
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