United Finance to endorse 20% bonus & 20% right share; 22nd AGM today

United Finance Company Limited (UFL) is convening its 22^nd Annual General Meeting (AGM) today (Ashwin 21, 2073).  The AGM is going to be held at DECC Pawan Hall, Fourth Floor, United World Trade Center, Tripureswor, Kathmandu at 11 AM. The AGM has following agendas:

• To endorse 20 percent bonus share and 1.05 % cash dividend for tax purpose from the net profit it earned from the fiscal year 2072/73.
• To issue 5:1 (20%) right share after bonus share distribution. After bonus and right share is issued, it’s paid up capital will increase and to amend the article of association accordingly.
• To convert the existing promoter public share structure from 59.97:40.03 to 51:49 by transferring 8.97% promoter share of promoters’ shareholders group into public shareholders.
• To authorize BOD for necessary amendment as per directed by regulatory bodies.

Other agendas of the AGM include financial highlights of 2072/73, appointment of auditor and election of 4 BoD members from promoter shareholders group and 3 from public shareholders group. The finance company has earned net profit of Rs 13.87 crore in the fourth quarter of the FY 2072/73. It’s paid up capital remains at Rs 46.39 crore. After issuance of 20% bonus share its paid up capital will reach to Rs 55.66 crore