On May 9, the Nepal Stock Exchange (NEPSE) took action to adjust the stock price of Sun Nepal Life in light of its upcoming Annual General Meeting (AGM).
Following the book close for the AGM, NEPSE recalibrated the stock price to Rs 470.92, factoring in a 23.80 percent stock dividend. This adjustment comes after the stock’s last trading price stood at Rs 583 on May 8.
Sun Nepal Life Insurance (SNLI) is gearing up for its 7th AGM scheduled for May 22 at Amritbhog Caterers, Kalikasthan, Kathmandu, commencing at 10 am.
During the AGM, shareholders will deliberate on various proposals, including the distribution of a 23.80 percent stock dividend and a 1.25 percent cash dividend for tax purposes. Additionally, proposals for issuing 27 percent right shares, granting authority to the Board of Directors to amend the articles and memorandum of association, appointing an auditor, and electing one director from ordinary shareholders will be on the agenda.
As SNLI prepares to convene its AGM, NEPSE’s adjustment of the stock price reflects the company’s proactive approach to maintaining transparency and adhering to regulatory requirements.
