Union Life Insurance Company Calls AGM on 26th Magh To Endorse 8.97% Bonus Shares and Agendas Related Merger

Union Life Insurance Company Limited (ULI) has called its 5th AGM on 26th Magh, 2079. The meeting will be held in Tiger Palace Resort, Bhairahawa, Rupandehi, starting at 10:30 AM that day.

Among the other agendas, the AGM will endorse 8.97% bonus shares for the fiscal year 2077/78. The meeting of the board of directors decided to distribute 8.97% bonus shares worth Rs. 19,28,55,000 from the company's paid-up capital of Rs. 2.15 Arba. The meeting will also discuss converting the promoter to a public shareholding ratio from 70: 30 to 51:49 and endorse the auditor's report with PL statements, financial reports, and cash flow reports and appoint an auditor for the fiscal year 2078/79.

Furthermore, there is an agenda to take the decision to suspend the share trading of the company as a preliminary Memorandum of Understanding (MOU) regarding the merger has been signed between Union Life Insurance Company Limited, Prime Life Insurance Company Limited, and Gurans Life Insurance Company Limited and approve the decision of the board of directors to appoint the auditor consultant to evaluate the Due Diligence Audit of the company.

Magh 16 is the book closure date. Thus, shareholders maintained before that day are entitled to the dividend payout and can also attend this AGM.

AGM Notice