Union Life calls SGM to endorse of final agreement on merger

Kathmandu: Union Life Insurance Company Limited (ULI) has announced the date for Special General Meeting (SGM). The SGM will be held on 6th Baisakh, 2080 at Tiger Palace Resort, Bhairahawaat 10:30 AM.

The agenda of endorsement of auditor for the due diligence audit, the due diligence audit report, memorandum of understanding, and share swap ratio of 1:1:1 for a merger with two other life insurers Gurans Life Insurance Company and Prime Life Insurance Company.

These insurers will conduct joint operations under the brand name, Himalayan Life Insurance Limited after the successful closure of the merger agreement.

The agenda for the increment of paid-up capital too will be forwarded to the house for endorsement. The proposed agenda for the SGM also includes the delegation of authority to the BODs to conduct all the procedures for the merger and make necessary amendments to the article of association and memorandum of association.

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