NLG Insurance Company Calls Special General Meeting to Approve Right Share Issuance

Kathmandu, NLG Insurance Company Limited has announced a special General Meeting to approve the issuance of right shares. The meeting, scheduled for October 23 at Amrapali Banquet in Baluwatar, Kathmandu, will begin in the morning at 10 a.m.

The decision was made during a Board of Directors of NLG insurance meeting held on October 2. The key agenda of the special meeting is to pass a special resolution on issuing right shares at a ratio of 62.56% of the company’s current paid-up capital, as part of its plan to increase capital.

In preparation for the special general meeting, the company has decided to close its books on October 8 for one day. This means that only shareholders registered as of October 7 will be eligible to participate in the meeting.

The move follows the approval of the right share proposal by the Nepal Securities Board last Friday, allowing NLG Insurance to issue shares at a 100:62.5 ratio. The special general meeting is a necessary step to complete the procedural requirements for the issuance.