Prime Life Insurance Company (PLIC) Calls SGM on Baisakh 06 to Discuss Agendas Related Merger
Tue, Apr 4, 2023 10:03 AM on Latest, AGM/Special AGM, Merger/Acquistion,
Prime Life Insurance Company Limited (PLIC) has called its Special General Meeting (SGM) on 6th Baisakh, 2080. The meeting will be held in Agrawal Sewa Kendra, Kamaladi, Kathmandu, starting at 10:30 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 1:1:1 for a merger between Gurans Life Insurance Company (GLICL), Union Life Insurance Company (ULI) and Prime Life Insurance Company (PLIC). The meeting will also approve a proposal to start the joint transaction under the name "Himalayan Life Insurance Limited" after the successful merger.
The meeting will approve the decision to appoint an auditor consultant to evaluate the Due Diligence Audit of the company and determine his remuneration. 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.
