Norvic Int'l Hospital to hold AGM on Jan 13

This image shows the building of Norvic International Hospital in Kathmandu.

KATHMANDU: A meeting of the board of directors of Norvic International Hospital has decided to hold the annual general meeting (AGM) on January 13, 2023.

The country’s first hospital to be converted into a public limited company has called for the meeting next month with plans to issue an initial public offering (IPO).

The AGM will be held at BLC hall in Thapathali, according to Saluja Shrestha, company secretary.

The general meeting will approve the decision to distribute 40% dividend to its shareholders from the profit of the fiscal year 2021/22 as per the proposal made by the board of directors. Out of the total dividends declared, 20% are bonus shares and 20% are cash dividends (including for tax purposes). Both these proposals will be approved by the AGM.

Currently, the paid-up capital of Norvic International Hospital is Rs 225 million. After the meeting pass the distribution of 20% bonus share, the paid-up capital will increase to Rs 270 million.

The scheduled meeting will discuss and pass the annual report of the board of directors for FY 2021/22, annual financial statement of the company up to Mid-July 2022 with the auditor’s report, appoint an auditor for the FY 2022/23 determining his remuneration, and hold a discussion to approve the decisions made by the board of directors.



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