Asian Life Insurance calls AGM on Jestha 19th; to endorse 4% bonus and 60% right

Asian Life Insurance has decided to conducted its 10th AGM on jestha 19th. The meeting will be at 10 am in Hotel Bhiswa, Birgunj. The shareholder's book will remain closed from 4th Jestha for the stated purpose. 

Agendas :

• Issue 4% bonus shares and cash dividend (for tax purpose) on 1.20 arba capital 
• Issue 60% right share after the bonus issuance
• Dilute the promoter shareholding to 51%.
• Change the structure of Board of Directors
• Amend MOA and AOA.

Though company had proposed 6% bonus, the eligibilty of 50% right shares for the same has decreased the proportion. The paid-up capital of asian life insurance will hike to Rs 1.25 arba after the bonus . The capital will further meet the paid-up capital requirement of life insurance after the right issue. 

The shares of asian life insurance were last traded for Rs 859 in the stock exchange.