United Ajod Insurance Limited has successfully conducted its 31st Annual General Meeting in Kathmandu, approving bonus shares and cash dividends while revising its rights share proposal.
AGM Held in Kathmandu
The 31st Annual General Meeting (AGM) of United Ajod Insurance Limited was held at Amrapali Banquet Catering and Event Pvt. Ltd., located in Bhaktapur, Kathmandu.
Dividend Declaration
Paid-up Capital: NPR 210 crore
Bonus Shares: 10% bonus shares amounting to NPR 21 crore
Cash Dividend: 0.5263% cash dividend equivalent to NPR 1.1052 crore (including tax)
The shareholders approved the distribution of 10% bonus shares and a cash dividend of 0.5263%, totaling NPR 1 crore 10 lakh 52 thousand including tax.
Revision of Rights Share Proposal
As per Insurance Authority’s directive, non-life insurance companies are required to increase minimum paid-up capital to NPR 250 crore. Previously, the company had proposed a 15% rights share issue. However, due to the capital increase from the approved bonus shares, the shareholders agreed to amend the rights share proposal to 10%, issuing 10 rights shares for every 100 shares held.
Approval of Financial Reports and Appointments
The AGM approved the annual report, auditor’s report, and financial statements for the previous fiscal year.
Appointment and remuneration of the auditor for the current fiscal year were approved.
Approval was given for the appointment of new directors.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
