Prabhu Life Insurance convenes its 5th AGM; endorses the proposed dividend and merger with Mahalaxmi Life Insurance

Prabhu Life Insurance Company has convened its 5^th AGM under the leadership of its chairman Mr. Subhash Amatya on Jestha 26, 2080.

The AGM has endorsed the financial reports for the previous fiscal year and has decided to provide 9.80% bonus shares and 0.51% cash dividends. The AGM has also elected new BoDs including Ms. Shikshya Bhattachan, Ms. Mijas Bhattachan, Mr. Shyam Krishna Shrestha and Mr. Sushan Sherchan from the promoter shareholder group, as per the media statement.

The AGM also endorsed the decision to merge with Mahalaxmi Life Insurance in a share swap ratio of 100% following which the new entity will be known as Prabhu Mahalaxmi Life Insurance and begin the joint transaction by Asar end, 2080, as per the media statement.