May 29, 2019 | Investopaper
NLG Insurance Special General Meeting was conducted on Jestha 14, 2076 i.e. yesterday at the Russian Centre of Science and Culture, Kamalpokhari yesterday.
As per the information on Nepse, the company has made the decision of issuing a 60 percent right shares to its shareholders to meet the paid up capital requirement of 1 Arab.
The reason behind issuing right shares has been clarified by the company. The company could not issue bonus shares due to a delay in conducting the AGM of the company. The company reported that it still needs time to prepare the financial report as per the NFRS standard.
The paid-up capital post the right adjustment will be 1.02 Arab. The current paid-up capital stands at 64.04 crores.