Biratnagar, Mangsir 27. Guardian Micro Life Insurance Limited (GMLI) has convened its 3rd Annual General Meeting (AGM) on 14th Poush, 2082. The meeting will be held at Hotel Airport, Biratnagar, commencing at 11:00 AM.
The AGM's agenda includes standard annual approvals and a significant capital increment proposal. Key agenda items are:
- Endorsement of the company's annual report.
- Approval of the auditor's report for FY 2081/82, including the Profit & Loss statement, financial reports, and cash flow reports.
- Appointment of the auditor and determination of their remuneration for the upcoming fiscal year 2082/83.
- Approval of the appointment of a director representing the public shareholding group.
- Miscellaneous matters.
Major Capital Plan:
A prominent agenda for the meeting is to seek shareholder approval for issuing right shares in a 1:1 ratio. This proposal aims to significantly increase the company's authorized and issued capital, potentially doubling its existing capital base if fully subscribed. The exact details of the current paid-up capital and the specific amount to be raised will be presented for endorsement at the AGM.
This move indicates GMLI's strategic intent to strengthen its capital structure, which is crucial for scaling operations and meeting regulatory capital requirements in the insurance sector. Shareholders' approval at the AGM is the next critical step for this capital plan to proceed.