Prabhu Insurance Announces Date for 29th Annual General Meeting

Kathmandu – Prabhu Insurance Limited has announced the convening of its 29th Annual General Meeting (AGM), scheduled for Friday, 23rd Shrawan (August 8), at 11 a.m. The meeting will be held at Prabhu Complex, Tinkune, Kathmandu, as per the decision taken by the company’s board of directors on 24th Ashar (July 8).

The AGM will consider several key proposals, including the endorsement of an 18 percent bonus share and a 0.9474 percent cash dividend (inclusive of tax) based on the existing paid-up capital of Rs. 1.44 billion. If approved, the combined dividend payout for the fiscal year 2080/81 will total 18.9474 percent.

Additionally, shareholders will be asked to approve the issuance of 47 percent right shares based on the adjusted paid-up capital after the distribution of bonus shares. This right share issuance replaces the 50.15 percent right shares approved by the previous AGM, taking into account the increase in capital following the bonus distribution. The ratio of promoter to public shareholding will be maintained, with fractional entitlements rounded to the nearest whole number.

The meeting will also review and pass the company’s annual report, auditor’s report, and financial statements including the balance sheet as of mid-Ashar 2081, the profit and loss statement for FY 2080/81, cash flow statement, profit distribution account, and changes in equity.

Among other key agendas are the appointment of auditors for the fiscal year 2081/82 and amendments to the company’s Articles of Association and internal regulations. The board of directors has been granted authority to implement any modifications required by the regulatory body during the approval process.

For the purpose of the AGM and dividend distribution, the company has announced a book closure on 2nd Shrawan (July 18). Shareholders who are on record by 1st Shrawan (July 17) will be eligible to participate in the AGM and receive the proposed dividend benefits.