LICN Limited held its 24th Annual General Meeting (AGM) at the Nepal Administrative Staff College, Jawalakhel, Lalitpur. The meeting approved the distribution of a 21.05% cash dividend from the company’s current paid-up capital.
During the AGM, the Chairman presented the Board of Directors’ annual report, which was subsequently approved. Shareholders reviewed and approved the company’s collection and financial statements, including the profit and loss account and cash flow statement, up to the end of Ashadh 2082 B.S., along with the auditors’ report.
Following the recommendation of the Audit Committee, the meeting approved the appointment of auditors for the fiscal year 2082/83 and set their remuneration. The current auditor, KJ Associates, was approved for reappointment.
The AGM also approved the appointments of directors representing the founding shareholders and independent directors. Additionally, the meeting sanctioned an increase in board meeting allowances for the Chairman and members of the Board of Directors.
In accordance with Section 105(1)(g) of the Companies Act, 2063 B.S., the AGM approved expenditures made under the company’s Corporate Social Responsibility (CSR) initiatives during FY 2081/82. The Chairman also approved other miscellaneous proposals presented during the meeting.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
