NLG Insurance Modifies Right Share Issuance from 66% to 62.56%

The right share issuance rate of NLG Insurance Company Limited (NLG) has been modified to 62.56%. During the 449th Board of Directors meeting held on 24th Bhadra, 2081, the company discussed the right shares plan. Initially, a 66% right shares issuance had been approved at the special general meeting on 15th Shrawan, 2080, and the application was submitted to the Securities Board of Nepal on 2nd Kartik, 2080.

At the 18th Annual General Meeting held on 3rd Falgun, 2080, the company approved a 5.50% bonus share distribution, which increased the paid-up capital to Rs. 1,53,95,35,958.97. After further review, the Board decided to issue 62.56% right shares instead of the originally planned 66%, raising the paid-up capital to Rs. 2,50,25,15,701.30.

After receiving approval from the Nepal Insurance Authority and endorsement by the upcoming Annual General Meeting, the insurance company will issue the right shares.