Kathmandu. The 20th Annual General Meeting (AGM) of NNLG Insurance Company has been concluded today. The assembly was held at Silver Oak Banquet and Events Center in Gairidhara, Kathmandu.
The meeting held the last fiscal year 2081. The meeting has approved a total dividend of 7.3684 per cent of the current paid-up capital of Rs 2.565 billion. Out of this, 4 percent will have bonus shares worth Rs 10,26,08,978 and 3 percent cash dividend of Rs 7,69,56,733. For both the dividends, the company has set aside 0.3684 percent i.e. Rs 9.450 thousand 827 for tax purposes.
The meeting also passed a special proposal to amend the Memorandum of Association and Articles of Association accordingly as the paid-up capital of the company will reach Rs 2.66 billion after the distribution of bonus shares.
The meeting also endorsed a proposal to authorize the Board of Directors to carry out any suggestion or direction received from the regulatory bodies for amendment.
The meeting approved the annual and auditor’s report of the last fiscal year and the current fiscal year 2082. The meeting also passed a resolution regarding the appointment of auditor and determination of his or her remuneration for Province 83.
