Prabhu Insurance to Hold Annual General Meeting for Dividend Approval

Kathmandu — Prabhu Insurance Limited has scheduled its 30th Annual General Meeting (AGM) for April 22 at 11:00 am. The meeting will take place at the company’s head office, Prabhu Complex in Tinkune, Kathmandu, following a board meeting held on March 31 at 5:15 pm.

The AGM will review and approve the annual report presented by the board of directors. It will also endorse the financial statements for the last fiscal year, including the balance sheet as of mid-July, the profit and loss account for fiscal year 2024/25, cash flow statement, profit distribution statement, changes in equity, and related schedules.

As proposed by the board, the meeting will approve a cash dividend of Rs 7.79 million, equivalent to 0.4579 percent of the company’s paid-up capital of Rs 1.70 billion. This amount is allocated to cover tax on the proposed bonus shares.

The AGM will also appoint an auditor for fiscal year 2025/26 and fix remuneration. In addition, it will approve the distribution of bonus shares worth Rs 147.98 million, equivalent to 8.70 percent of the current paid-up capital, from distributable profits of fiscal year 2024/25. Any fractional shares arising from the bonus distribution will be adjusted later in the names of the respective shareholders.

Following the issuance of bonus shares, the company’s issued and paid-up capital will increase. To reflect this, amendments will be made to Clause 6(a) of the Memorandum of Association and Rule 2.1(a) of the Articles of Association. The AGM will also approve expenses incurred under corporate social responsibility in line with Section 105(1)(c) of the Companies Act 2006.

The board of directors will be authorized to implement any amendments required by regulatory bodies to the company’s constitutional documents.

For AGM and election purposes, the company will close its shareholder register for one day on April 9. Only shareholders recorded before the book closure date will be eligible to attend the AGM. Shares traded on the Nepal Stock Exchange and transferred within seven days, with proper documentation received by the company’s share registrar, Prabhu Capital Limited in Kamaladi, Kathmandu, will be considered valid for participation.