Ajod Insurance (AIL) and United Insurance Company (UIC) Calls SGM on Baisakh 25 to Endorse Merger-Related Agendas
Tue, Apr 18, 2023 8:16 AM on Latest, AGM/Special AGM,
Ajod Insurance Limited (AIL) and United Insurance Company (Nepal) Limited (UIC) have called their Special General Meeting (SGM) on 25th Baisakh, 2080. The meeting of AIL will be held in DECC, World Trade Centre, Tripureshwor while UIC's meeting will be held in Anmol Banquet, Sankhamul. Both meetings will start at 11 AM that day.
The SGM will pass a resolution regarding evaluating and endorsing the Due Diligence Audit, Due Diligence Report, Memorandum of Understanding, and Scheme of Arrangement and endorse a share swap ratio of 82.50:100 for a merger between Ajod Insurance Limited (AIL) and United Insurance Company (Nepal) Limited (UIC). The meeting will also approve a proposal to start the joint transaction under the name "United Ajod Insurance Limited" after the successful merger.
As the companies' capital will increase after the merger, pass the resolution to amend the Articles of Association accordingly. The proposal to provide the BoDs authority to oversee all the procedures related to the merger and necessary amendments to be done as directed by regulatory bodies will be approved during the meeting.
