Shikhar Insurance Company Limited (SICL) is leading its thirteenth Annual General Meeting (AGM) today (Poush 7, 2074). The AGM is being held at the insurance agency’s focal office at 11:00 AM.

The primary motivation of the AGM are:

To support 29% extra offers and 1.52% money profit from the net benefit of FY 2073/74.

The organization had supported issuance of FPO shares from the past AGM however because of the new direction set by the Securities Board of Nepal (SEBON) the organization isn’t qualified to issue FPO so the organization has embrace to cross out the plan of FPO and alter article of affiliation appropriately.

To increment issued and paid up capital.

To change the shareholding structure of the organization by changing over 20% offers from promoter shareholding to customary and keep up 44% from existing 30%.

Approved BOD to embrace cash for the philanthropy as a piece of Corporate Social Responsibility (CSR).

To correct the Memorandum of Association (MOA) and Articles of Association (AOA).

Different plans of the AGM are major money related features of FY 2073/74, arrangement of examiner and chiefs for the FY 2074/75.

The book conclusion date for the AGM was determined to Mangsir 22,2074 till Poush 7, 2074. In this way, just those investors owning shares till Mangsir 20, 2074, i.e. in front of the book conclusion date are qualified to take an interest in the AGM and proposed extra offers.

SICL had earned Rs 9.55 crore in the principal quarter of the monetary year 2074/75. After the issuance of this reward share, its paid up capital will achieve Rs 1.05 crore from existing Rs 81.76 crore. According to Insurance Board’s order for all non-life coverage organizations to build their paid up funding to at least Rs 1 arba before the finish of FY 2074/75, SICL will meet the capital prerequisite by issuing this reward share.

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