Dhaka, Dec 24: The 2nd Extra Ordinary General Meeting (EGM) of Rupali Insurance Company Limited (RICL) was held on December 22, at Spectra Convention Centre in Gulshan, Dhaka. The meeting was presided over by the Chairman of the Company Mostafa Golam Quddus and attended by Financial Consultant  M Azizul Huq, Managing Director P K Roy  FCA, including a good number of shareholders, says a press release. The shareholders present in the meeting approved the changing of denomination of share from Tk 100 (one hundred) to Tk 10 (ten) with a market lot of 100 shares in place of 20 shares and increase of authorised capital of the company from Tk 20 (twenty) crores to Tk 100 (One hundred) crores, raising the paid up capital by issuing right shares at the rate of 1 (one) [R]:l (one) (one right share for every one share) at Tk 20 (Twenty) each including premium of Tk 10 on paidup capital of Tk 16,45,401100 and amendment of clause 111 of articles of association of the company subject to approval of Regulatory Authorities.
The shareholders thanked the management of the company for the success and growth of business during the last few years and urged upon them to maintain this upward trend.

Source: The Independent