IME General Insurance Gear Ups for Merger

Jun 13, 2019 Merolagani

IME General Insurance (IGI) is gearing up for merger. The company that is meeting the minimum paid-up capital through bonus share distribution has listed a special agenda of merger/acquisition for the upcoming AGM.

The 78th board of directors meeting of the company held on June 11 decided to call its 21st AGM in Lainchaur Banquet, Kathmandu at 11:00 AM.

The meeting is scheduled to endorse a special proposal of delegating authority to BOD to forward the merger/acquisition process with a suitable partner.

The meeting will also endorse a proposal of distributing 5 percent stock dividend of its paid-up capital. After the bonus share distribution, the paid-up capital will increase to Rs 1.02 billion.

For the AGM, the company is set to close its book on June 30-July 14, thus, the shareholders registered in its book till June 27 (the last trading day before book close) will be eligible to attend the AGM and obtain the bonus share.

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