Sanima GIC Insurance Concludes Seventh AGM, Approves Bonus Shares and Right Issue

Kathmandu – Sanima GIC Insurance Limited successfully concluded its seventh annual general meeting (AGM) at Amritbhog, Kalikasthan, Kathmandu. The meeting, held under the chairmanship of Kunal Kayal, approved several key financial and operational proposals.

One of the major decisions made during the AGM was the approval of a 7.5 percent bonus share distribution and a 0.3947 percent cash dividend (including tax) based on the company’s current paid-up capital. Additionally, the meeting approved a revised proposal to issue 17 percent right shares, amending the previously proposed 25 percent right share issuance.

The AGM also endorsed the financial statements of the previous fiscal year, approved expenses incurred during that period, and finalized the appointment of an auditor for the current fiscal year along with their remuneration. Furthermore, the meeting resolved to amend the board of directors’ meeting allowance and granted authority to the board to revise the company’s memorandum of association and regulations as needed.

Addressing the meeting, Chairman Kunal Kayal expressed the company’s commitment to timely shareholder engagements and emphasized the board and management’s dedication to the growth and success of the business.

For the purpose of the AGM and dividend distribution, Sanima GIC Insurance had its book closure on Chaitra 8 (March 21). As per the book closure, only shareholders who held shares until Chaitra 7 (March 20) are eligible to receive the declared dividends.