Himalayan Reinsurance Limited Proposes To Issue 80% Right Shares After Bonus Shares Adjustment

Himalayan Reinsurance Limited (HRL) has called its 3rd AGM on 20th Falgun, 2080. The meeting will be held in Rastriya Sabha Griha, Pradarshani Marg, Kathmandu, starting at 11:00 AM that day. 

Among the other agendas, the AGM will endorse a 4.21% dividend for the fiscal year 2079/80. The 55th board of directors meeting on Magh 25 decided to distribute the dividend on the paid-up capital of Rs. 10 Arba. 4% bonus shares and 0.21% cash dividend (tax purposes) have been proposed. Thus, the bonus shares are worth Rs. 40 crores and the cash dividend is worth Rs. 2.10 crores.

Furthermore, an agenda is to endorse the auditor's report with PL statements, financial reports, and cash flow reports and appoint an auditor for the fiscal year 2080/81. There is an agenda to elect one director from the promoter shareholding group and two directors from the public shareholding group.

Similarly, The company has resolved to issue 80% right shares worth Rs. 8.32 Arba after adjusting for the allocation of 4% bonus shares from the existing paid-up capital of Rs. 10 Arba. This adjustment will result in an enhanced paid-up capital, reaching Rs. 10 Arba 40 Crores after incorporating the bonus shares.

The book closure date is on Falgun 7. Therefore, the shareholders maintained before that day are entitled to dividend payout, and can attend this AGM.

AGM Notice: