Prabhu Mahalaxmi Life Insurance is set to hold its 8th Annual General Meeting (AGM) on June 9 (Jestha 26), at 11 AM at Amrapali Banquet, Bhatbhateni, Kathmandu. The company will propose distributing an 8% bonus share and a 0.421% cash dividend for tax purposes.
Earlier, the company decided to cancel the 7% rights share plan approved at the 7th AGM. This cancellation comes as the bonus shares will help the company maintain the paid-up capital required by the Nepal Insurance Authority.
Along with the bonus shares, this agenda includes amending the company’s memorandum, reviewing the previous fiscal year’s annual report, profit and loss statement, and cash flow details. The company had closed its sharebook on June 1 (Jestha 16), meaning only shareholders registered before this date can participate in the meeting and receive dividends.
