United Ajod Insurance SGM conducted successfully

KATHMANDU:United Ajod Insurance has passed a resolution to issue 15% rights shares. The special general meeting of the company, as held on Thursday, approved the board of directors' proposal to issue rights shares.

The company's paid-up capital is currently 2 billion 10 million. After issuing 15 percent right shares, the company's paid-up capital will be 2 billion 41 crore rupees.

The Nepal Insurance Authority has already issued instructions to enhance paid-up capital to two and a half billion by the end of June.

The special general meeting also passed a special resolution established a board of directors in accordance with the reduction of the company's founding and common shares and to make the necessary amendments to the company's charter and  regulations accordingly.

During the meeting, shareholders were told about the company's financial situation. The company generated  1 billion 367.8 million in insurance fees through Jestha  29 of this fiscal year.