5th AGM of Reliable Microfinance on Ashwin 29, to endorse 20% bonus shares

Reliable Microfinance Bittiya Sanstha Limited (RMFL) will be convening 5^th Annual General Meeting (AGM) on AShwin 29, 2074. The AGM is going to be held at Gate Way Himalaya Resort, Besisahar – 9, Lamjung at 10:00 AM. The main agendas are:

• To endorse 20% bonus shares and cash dividend of Rs 5,94,737 (for tax purpose) to its shareholders from the profit of FY 2073/74.
• To Increase authorized capital to Rs 20 crore from existing Rs 10 crore.
• To change the name of microfinance company.
• To extend the working areas.
• To amend meeting allowances and facilities.

Other agendas includes appointment of the auditor for the FY 2074/75 and major financial highlights of the FY 2073/74. As per the notice published by the microfinance company today, the book closure date has been set on Ashwin 10, 2074. Only those shareholders owning shares till Ashwin 9, 2074, i.e. one day ahead of the book closure date will be eligible to participate in the AGM and for proposed dividends. Last year, it had distributed 20% cash dividends to its shareholders from the net profit it earned in the FY 2072/73 and the finance company has been issuing 50% right shares from Ashad 25, 2074. Reliable Microfinance has earned net profit of Rs 1.12 crore in the fourth quarter of the fiscal year 2073/74 as per unaudited report. It’s paid up capital remains at Rs 5.65 crore. After adjustment of 50 % right and 20% bonus shares, its paid capital will rise to Rs 9.6 crore.