Citizen Life Insurance's 1st AGM today; Discussion about endorsement of IPO under one of the main agendas
Fri, Apr 20, 2018 12:23 AM on AGM/Special AGM, Latest, Stock Market,
Citizen Life Insurance Company Limited will be conducting its 1st Annual General Meeting (AGM) today (Baishakh 7, 2075). The AGM is going to be held at Shikhar Biz Center, Thapathali, Kathmandu at 1:00 PM.
The main agendas of the AGM are:
- To endorse IPO issue
- To amend the Memorandum of Association (MOA) and Articles of Association (AOA).
- To endorse the meeting allowance of the Board of Directors.
Other agendas of the AGM include endorsement of financial highlights of the FY 2063/64 to 2073/74, appointment of the auditor for the FY 2063/64 to 2074/745 and appointment of the auditor for FY 2074/75 and the board of directors.
CLICL is a 70:30 public limited company, promoted by Shikhar Insurance Company, Kantipur Media Group, Aviation Industries, Bankers, eminent Industrialists and Businessmen and Professionals.
CLICL is operating with the authorized capital of Rs 3 arba and issued capital of Rs 2.5 arba. The current paid up capital of the company is Rs 1.75 arba which is 70% of the total issued capital. Hence, the company will be issuing IPO of the remaing 30% of the total issued capital, amounting to Rs 75 crore.
The company had earned Rs 5.14 crore in the second quarter of the current FY 2074/75.
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