| The Rastriya Beema Sansthan announced its book closure on the same day it proposed to distribute 25% cash dividend and 25% bonus shares which is against the prevailing rule. RBS has announced its book closure from 25th May 2009 to 9th June 2009 (2066 Jestha 11 to 2066 Jestha 26) for conducting its annual general meeting scheduled for 9th June 2009 (2066 Jestha 26). The company sent a book closure notice to Nepal Stock Exchange only after the decision on dividends and bonuses were made. According to the existing provision, Stock Exchange has to be informed at least 21 days ahead of the book closure, once it proposes bonus shares. However, the company had informed the same day about the book closure and bonus declaration, said, one of the employee of the stock exchange. Hence exchange has asked RBS to clarify its act. "The company believes that, it had done the work according to the law and disseminated information before 15 days of Annual General Meeting as in the rule,"said Shivahari shrestha, Chief administrator of Rastriya Beema Sanstha. "There is no any information to SEBON about this issue. We will confirm it very soon" said, Niraj Giri, director of the Securities Board of Nepal. Beema Sanstha had decided to provide 25% bonus share and 25% cash dividend of the fiscal year 2058/2059 and 2059/060.Thecompany which is under the government authority has Authorized Capital of Rs.100 millions. Total of 995,138 shares are registered in Nepal stock Exchange. |
| Source: Jamb News Service |
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