As per the notice published on 9 Feb, 2024, Himalayan Reinsurance Limited – HRL has proposed to issue right shares in the ratio 10:8 to its shareholders. Himalayan Reinsurance is obliged to meet 20 Billion capital requirement mandated by the Nepal Insurance Authority (NIA) for reinsurance companies. The current paid up capital of HRL stands at 10 billion rupees.
Himalayan Reinsurance had recently announced to distributed 4.21 percent dividend including bonus share and cash dividend. So, the proposed right shares by HRL will be issued after the adjustment of 4 percent bonus shares from the existing paid-up capital of 10 billion. HRL plans to issue right shares equivalent to 8.32 billion after the proposal is approved by its upcoming AGM.
Book closure date of Himalayan Reinsurance Limited – HRL is on 7 Falgun. So, the shareholders maintained before that day are entitled to dividend payout, and can attend the AGM.