Central Finance postpones proposed 50% right share; to opt for possible merger/acquisition
- ShareSansar, June 18, 2017 on Dividend, Right & Bonus , Featured , Latest , Stock Market
Central Finance limited (CFCL) has postponed the proposed 50% right share to its shareholders. The finance company had conducted its SGM on Ashad 2, 2074.
As per the notice published in Nepse today, the special general meeting of the company held on 2074-03-02 has postponed the proposed 50% right share to its shareholders.
According to the Company Secretary of Central Finance, “We are preferring for possible merger/ acquisition with other BFIs, due to which we have postponed the proposed right share.”
After its merger with Bhaktapur Finance, its paid up capital has reached Rs 52.66 crore. As a national level finance company, it has to increase its paid up capital to a minimum of Rs 80 crore by the end of current FY 2073/74.
CFCL had started joint operation after merger with Bhaktapur Finance from Chaitra 10, 2073 with the name Central Finance Limited. Its trading has already been resumed in NEPSE after the merger. Till the end of third quarter this year, it has earned net profit of Rs 5.87 crore.