Guardian Micro Life Insurance Calls Third AGM to Approve Rights Share Issuance

Guardian Micro Life Insurance has called its third annual general meeting (AGM) to approve the issuance of rights shares. The company’s board meeting held on Sunday decided to convene the AGM on Poush 14 at Hotel Airport, Biratnagar (Morang). The meeting will begin at 11 AM.

The AGM will endorse a special proposal to issue 100% rights shares — that is, rights shares in a 1:1 ratio based on the company’s current paid-up capital of Rs 750 million. Another special proposal will authorize the board of directors to proceed with increasing the company’s authorized, issued, and paid-up capital if required or if directed by regulatory authorities.

For AGM participation, the company has set Mangsir 29 as the book closure date. Only shareholders listed in the registry before this date will be eligible to attend the AGM and claim the rights shares.

The company believes that the rights issue will strengthen its capital base and support future expansion of its insurance services.