9th June 2025, Kathmandu
Prabhu Mahalaxmi Life Insurance Limited held its 8th Annual General Meeting (AGM) on Monday at Amrapali Banquet Hall in Kathmandu. The meeting was led by Chairperson Shiksha Bhattchan, who presided over the session with firm guidance.
Prabhu Mahalaxmi Life 8th AGM
Dividend Proposal Passed
The shareholders discussed and approved the company’s financial performance for the fiscal year 2080/81 (2023/24). They agreed to distribute a total dividend of 8.421%. This includes 8% bonus shares and a 0.421% cash dividend, which covers applicable taxes.
The dividend will come from the company’s accumulated profits. It will be paid based on the current paid-up capital. This step reflects the company’s strong financial health and commitment to rewarding its shareholders.
Earlier, the company had planned to issue a 7% rights share as approved in the previous AGM. However, the bonus shares will raise the paid-up capital to the required level. As a result, the rights issue plan was canceled.
Financial Statements And Auditor Appointment
The AGM also reviewed and approved the company’s annual financial statements. These included the balance sheet, profit and loss account, cash flow statement, and the auditor’s report for fiscal year 2080/81.
Additionally, the meeting appointed external auditors for the fiscal year 2081/82 (2024/25). The current auditors were reappointed, as they met all eligibility criteria. Shareholders also agreed on the auditors’ remuneration.
Corporate Governance And Regulatory Compliance
The shareholders empowered the Board of Directors to make any necessary changes to the company’s Memorandum and Articles of Association. These changes will align with regulatory directives or suggestions. The board can also make linguistic amendments if needed. This flexibility ensures the company stays compliant with laws and regulations.
Moreover, the AGM approved expenses related to the company’s corporate social responsibility (CSR) efforts. This shows Prabhu Mahalaxmi Life Insurance’s dedication to giving back to society alongside its business activities.
Chairperson’s Commitment
Chairperson Shiksha Bhattchan spoke about the company’s plans. She assured shareholders that the company will continue to provide fair dividend returns in the years ahead. Furthermore, she emphasized the company’s focus on developing the skills of its agents and strengthening partnerships. These efforts aim to promote sustainable growth.
Shareholder Record and Dividend Distribution
The company closed its share register on Jestha 16, 2082 (May 30, 2025) to finalize eligible shareholders for dividends. Those holding shares as of Jestha 14, 2082 (May 29, 2025) will receive the approved dividends. This clear timeline helps ensure transparency and smooth distribution.
About Prabhu Mahalaxmi Life Insurance
Prabhu Mahalaxmi Life Insurance Limited is a prominent life insurance company in Nepal. It provides various insurance products tailored to meet customer needs. The company has shown steady growth and a strong financial position in the competitive insurance market.
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