Kathmandu. Prabhu Insurance has concluded its 30th Annual General Meeting (AGM) today. The meeting was held at the company’s central office at Prabhu Complex, Tinkune, Kathmandu.
The meeting held the last fiscal year 2081. The company has approved a total dividend of 9.1579 percent of the current paid-up capital of Rs 1.70 billion for the current paid-up capital. Out of this, 8.7 per cent bonus shares worth Rs 14,79,83,165 and Rs 7,788,588 cash dividend of 0.4579 per cent for tax purposes.
The AGM endorsed a special proposal to amend the Memorandum of Association and Articles of Association accordingly as the issued and paid-up capital of the company would increase after the distribution of dividend. The AGM approved another special proposal by granting authority to the Board of Directors to approve the expenses under corporate responsibility and to incorporate suggestions received from the regulators to amend the Memorandum of Association and Articles of Association.
The meeting will approve the annual report and the auditor’s report of the previous fiscal year. The meeting also passed the proposal regarding appointment of auditor and determination of his/her remuneration for the current fiscal year.
