Nepal Re calls date for 8th AGM with the agenda of 5pc dividends distribution

Kathmandu: Nepal Reinsurance Company (NRIC) has announced the date for its 8th annual general meeting. According to the notice published by the state-owned reinsurer, the AGM will be held on 25 Jestha 2080 at Amrit Bhog Banquet.

The AGM will endorse the proposed 5 percent dividends distribution from the profit of 2078-79. The dividend includes 4.75 percent stock dividends on paid-up capital. After the distribution of proposed stock dividends, its paid-up capital will reach NPR 12.81 billion.

The Assembly will pass a resolution to appoint TR Upadhyay & Company, Chartered Accountants, as external auditors for the financial year 2079/80 and determine the remuneration according to Section 111 of the Companies Act, 2063.

According to sub-rule (2) (b) of rule 27 of the Company’s Bylaws, the meeting shall elect two directors to represent in the BODs from institutional investors other than the Government of Nepal.

The book closure date for the purpose of the AGM is set to 7 Asar 2080.

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