NLG Insurance Concludes 19th AGM, Approves Dividend and Bonus Share Distribution

Kathmandu – NLG Insurance Company Limited successfully concluded its 19th Annual General Meeting (AGM) today at Amrapali Banquet, Baluwatar, Kathmandu. The meeting was held under the chairmanship of Mr. Bimal Prasad Wagle, Chairman of the Board of Directors.

During the AGM, shareholders approved the distribution of 2.50 percent bonus shares and 0.131579 percent cash dividend (including tax) based on the company’s paid-up capital of Rs. 2.50 billion, derived from the profit of the last fiscal year.

The meeting also endorsed the company’s annual report and the auditor’s report for the previous fiscal year. Furthermore, it finalized the appointment of the auditor for the current fiscal year and approved their remuneration.

In addition, shareholders passed a proposal authorizing the Board of Directors to amend the company’s Memorandum of Association and Articles of Association as necessary. The AGM also approved the expenditure incurred during the last fiscal year and endorsed the payment of meeting allowances to the company’s directors.

Addressing the meeting, Chairman Wagle said that NLG Insurance is progressing steadily and responded to shareholders’ queries with transparency. He reiterated the company’s commitment to continuing the distribution of appropriate returns to shareholders in the future.

Shareholders present at the meeting expressed their satisfaction with the decisions taken, particularly appreciating the board’s move to issue rights shares instead of pursuing a merger, in compliance with the Insurance Authority’s directive to increase paid-up capital.