United Ajod Insurance Calls 31st AGM, Proposes Bonus Shares and Cash Dividend

Kathmandu — United Ajod Insurance Limited has announced that its 31st Annual General Meeting (AGM) will take place on Monday, Ashar 30 (July 14). The meeting is scheduled to begin at 10:30 AM at Amrapali Banquet Catering and Event Pvt. Ltd., Bhatbhateni, Kathmandu.

According to the notice issued by the company, the AGM will endorse the proposal to distribute a 10 percent bonus share worth Rs. 210 million and a cash dividend of 0.5263 percent (including tax), amounting to Rs. 11.52 million. These dividends will be distributed based on the current paid-up capital of Rs. 2.1 billion.

The company had previously passed a proposal to issue 15 percent right shares in compliance with the Nepal Insurance Authority’s directive requiring non-life insurers to maintain a minimum paid-up capital of Rs. 2.5 billion. However, following the planned issuance of bonus shares, the right share ratio will now be adjusted to 10 percent, equivalent to 10 right shares for every 100 units held.

The meeting will also approve the annual report of the previous fiscal year along with the auditor’s report and financial statements. It will appoint an auditor for the current fiscal year and finalize their remuneration. Additionally, the appointment of directors will be ratified.

A proposal to amend provisions related to directors’ remuneration, allowances, and facilities has also been tabled. The AGM will seek authorization for the board of directors to make necessary amendments to the company’s memorandum of association and articles of association.

For the purpose of the AGM and dividend eligibility, the company will close its books for one day on Ashar 19 (July 3). Only those shareholders who are registered with the Nepal Stock Exchange (NEPSE) as of Ashar 18 (July 2) will be eligible to attend the AGM and receive the proposed dividends.