Kathmandu: The 102nd meeting of the Board of Directors(BODs0 of Reliable Nepal Life Insurance has announced the date for the fifth annual general meeting. The meeting concluded on 13 Ashoj 2079 has announced that the AGM will be held on 6 Kartik 2079 at Lisara Banquet, Gyaneshwor, Kathmandu.
The AGM will pass the proposal to issue IPO of 30 percent of common shares, i.e. 1 billion 20 million, according to the company’s charter. At present, the paid-up capital is Rs. 2.8 billion. After the IPO issue, the paid-up capital will reach Rs. 4 billion. According to the regulatory requirement the minimum paid-up capital must be Rs. 5 billion within Chaitra 2079.
Further, the AGM will discuss and pass the fifth annual financial report of the BODs. The appointment of the members of BODs too will be endorsed by the AGM.