Everest Insurance shows path of stability; 23rd AGM endorses decision to issue 105% right shares to formulate promoter share structure; unanimously elects 5 BOD members

Everest Insurance Company has convened its 23rd AGM on Baisakh 10, 2075. The insurance company has endorsed 10% bonus shares to its shareholders and cash dividend worth Rs 6.39 lakh for tax purpose.

Approving its earlier proposal, the AGM has endorsed decision to issue right shares in the ratio of 1:1.05 to all its existing shareholders in order to create promoter shareholding from the existing shareholders. The AGM also approved the decision to issue further 1:3 right shares to those newly organized public and promoter share holders of the company in order to jack up its capital to meet Insurance Board’s directive.

The AGM has also nominated 5 shareholders into the board who are namely Mr. Rajeev Sapkota, Mr. Bhuwol Rai, Mr. Hemraj Thapa, Mr. Ram Prasad Khanal and Ms. Anjila Bista Giri.