Shikhar Insurance (SICL) Unveils Book Closure for 1: 0.3 Rights Offering

Shikhar Insurance Company Ltd (SICL) has unveiled the book closure date for its rights offering. Magh 21 is the book closure date. Thus, shareholders maintained before that day are entitled to apply for the rights offering when the company issues it.

The 15th and 16th AGM of the company held on Chaitra 09, i.e. March 22 endorsed a 27.769% bonus shares and 1.462% cash dividend for the fiscal year 2076/77. The AGM then also endorsed 30% right shares issuance after capital adjustment post-bonus shares distribution.

Now, the insurance company will issue a total of 52,75,572 shares to its shareholders, which is 30 percent of the existing paid-up capital. The proposal was recently approved by the Securities Board of Nepal (SEBON).

Furthermore, board members and shareholders who own more than 1% of the company's paid-up capital should deposit the rights shares' monetary amount by Falgun 05, 2078.

SICL closed at Rs. 1,936.20 yesterday.

Book Closure Notice

Advanced Deposit Notice for Shareholders Owning More than 1% of Paid-up