Kathmandu, April 3, 2025 – Sanima GIC Insurance Limited successfully held its 7th Annual General Meeting (AGM) today at Amritbhog, Kalikasthan, Kathmandu. The meeting, which commenced at 11:00 AM, brought together shareholders, board members, and key stakeholders to discuss the company’s financial performance and strategic plans.
One of the key highlights of the AGM was the approval of the company’s proposed dividend distribution. The board had previously recommended a 7.5% bonus share and a 0.3947% cash dividend (after tax), based on the existing paid-up capital. Shareholders endorsed this proposal, reaffirming the company’s commitment to rewarding its investors.
Additionally, a significant amendment regarding the rights share ratio was approved. Initially set at 25%, the company has now reduced it to 17%, a move aimed at optimizing capital management and aligning with market conditions.
The AGM also ratified the company’s financial statements for the previous fiscal year and granted approval for the expenses incurred during the period. Shareholders had the opportunity to review the company’s financial performance, and discussions highlighted its steady growth and resilience in the insurance sector.
Another notable decision made during the meeting was the revision of director allowances for attending board meetings. This adjustment reflects the company’s efforts to ensure fair and competitive compensation, in line with its operational needs and growth strategies.
Furthermore, the board received approval to amend the Memorandum and Articles of Association, allowing the company to make necessary adjustments to support future expansion and regulatory compliance.
The meeting also saw the appointment of an auditor for the current fiscal year, with shareholders determining the auditor’s remuneration. This step ensures transparency and accountability in financial reporting.
The book closure date for the AGM had been set for Chait 8, 2081 (March 21, 2025), meaning only shareholders who held shares until Chait 7, 2081 (March 20, 2025) were eligible to participate and receive dividends.
Sanima GIC Insurance has maintained a strong presence in Nepal’s insurance market, providing a diverse range of products tailored to customer needs. The successful completion of the AGM marks another milestone for the company, as it continues to evolve and adapt to changing market dynamics.
With a focus on sustainable growth and shareholder engagement, Sanima GIC Insurance remains committed to financial stability and operational excellence. Today’s AGM not only addressed key financial matters but also laid the groundwork for strategic decisions that will shape the company’s future.
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