Kathmandu: NLG Insurance Company has submitted a proposal to Beema Samiti for the approval of 40 percent right share issuance. The BOD has proposed for the right share issue of 40 percent of the working capital after the distribution of bonus shares. Only after getting approval from BS, the proposal can be submitted as a special proposal at the next AGM of NLG.
Currently, the company’s paid-up capital is Rs. 1.9 billion. The BOD has announced 10 percent bonus share of this capital and 0.5263 percent cash dividend for tax purposes on bonus shares.
The company’s paid-up capital will reach Rs 1.20 billion after the proposed bonus shares are passed by the AGM. The company aim to have a paid up capital of Rs. 1.68 billion with the issuance of 40 percent right share.