Surya Life Insurance Company issuing 25% right share (4:1)

147th BOD Meeting of Surya Life Insurance Company Ltd (SLICL) has proposed issuance of Rights Shares in the proportion of 4:1  to their Shareholder. This right share offer is subject to the approval from its upcoming 7th Annual Genaral Meeting ,which is going to be held on Ashwin 22,2072. The AGM is for fiscal year 2070/71.

The company has a paid up capital of Rs 50 crore whereas after the issuance of 4:1 ratio right shares, its paid up capital will stand at Rs 62.5 crore.

SLICL  has posted net profit of Rs 1.70 crore in its 4th quarter of the last  fiscal year.

Its last trading price stands at Rs 750 as on September 10, 2015.-SSN

Surya Life Insurance to hold its AGM on July 12, 2014 ; dividend not likely.

Surya Life Insurance Company Limited will hold its Annual General Meeting on July 12. But, to the disappointment of its shareholders the company won’t be pledging any dividend for the last fiscal year 2069/70.

The annual event of the life insurer to be held in Biratnagar will only endorse the financial report of the company for the last fiscal year, and reappoint Nem Lal Amatya and Company as its auditor for the current fiscal year.

For the previous fiscal year, the last AGM of the company had offered 14.25 percent bonus shares plus the cash dividend equivalent to the taxes, besides 10:2.15 right shares to raise the paid-up of the company.
It may, however, be noted that the company has been posting robust growth in the current fiscal year.  Surya Life had posted amazing growth of 209 percent by the end of the third quarter. -SSN

Surya Life Insurance rights shares issue closing today

The issuance of rights shares of Surya Life Insurance Company Limited is closing today.

The insurance company had floated 8.87 lakh units of rights shares to the shareholders from 18th Bhadra at 10:2.15 ratio.

NEPSE adds 0.14 points to close at 542

Continuing its lethargic movement, the secondary market of Nepal today made a gain of 0.14 points to conclude at 542 levels.

Nepse tumbled by a massive 7.47 points to settle at 541.51 levels

Breaking the sideways channel, Nepal Stock Exchange today tumbled by a massive 7.47 points to settle at 541.51 levels. This is the highest fall seen in the market for the past two months. Last time, the market made such a mammoth loss was on 16th July, totaling 8.97 points.

Opening Day of 10:2.15 Right Share of Surya Life Insurance Co Ltd. upto 21 Ashwin

Opening Day of 10:2.15 ratio Right Share issue of Surya Life Insurance Company Limited.

Issue Price: Rs 100
Issue Open Date: 18th Bhadra, 2070
Closing Date: 21st Ashwin, 2070

10:2.15 Right share issue of Surya Life Insurance from 18 Bhadra to 21 Ashwin 2070

Surya Life Insurance Company has announced to issue 8,87,000 unit rights shares at the ratio of 10:2.15657671. The move was expected as the company is obliged to increase its paid up capital, which is currently at Rs 41.13 crore, to Rs 50 crore.

Insurance Board has directed life and nonlife insurance companies to increase their paid up capital to Rs 50 crore and Rs 25 crore respectively.

Nepse leaps by 5.15 Points; Insurance gain 60 points, EBL at Rs 1739.

Continuing the prior week’s dazzling performance, the secondary market today made a leap of 5.15 points.
 As the market has been gaining positive momentum from the past two weeks, the confidence among the investors towards the market is getting stronger every day.

The rise in the confidence sided by the investors' expectation of higher returns from the companies have kept the market so lively in recent days.