Bhaktapur & Central Finance separate AGM today; to endorse merger with each other; to approve 3.5% & 22.5% bonus share respectively

Bhaktapur Finance Company Limited (BFCL) is holding its 6^th Annual General Meeting (AGM) today (Poush 7, 2073). The meeting is going to be held at Thapa Party Palace, Suryabinayak, Bhaktapur at 11:00 PM. The main agendas of the meeting are:

• To endorse 3.5 percent bonus share and Rs 3, 88,684.21 cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2072/73.
• To approve the merger process with Central Finance Limited.
• To endorse Due Diligence Audit report for the final merger process.
• To approve share swap ratio at 1:1.
• After the merger process, to appoint BOD member from promoter and public shareholders group.
• To authorize BOD to complete necessary procedure required for merger process.
• The tenure of the existing BOD members will dissolve automatically after the formation of new BOD. The tenure of the new BOD will exist until the conduction of first AGM of the newly merged entity.
• To endorse the expenses done for the merger process of both finance companies.
• After completion of bonus share distribution and merger process, its paid up capital and share structure will change and amend article of association accordingly.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Trading of Bhaktapur Finance has been halted since Chaitra 29, 2072 for the merger process. Hence, the particular date will be considered as book closure date. Only those shareholders owning shares till Chaitra 28, 2072 are entitled to the dividend of the company. Bhaktapur Finance has earned net profit of Rs 23.59 lakh in the first quarter of the FY 2073/74. Likewise, Central Finance Limited (CFCL) is holding its 20^th Annual General Meeting (AGM) today (Poush 7, 2073). The meeting is going to be held at Sthaniya Bikas Prasichyan Pratisthanat 11:00 PM. The main agendas of the AGM are:

• To endorse 22.5 percent bonus share and 1.74 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2072/73.
• To approve the merger process with Bhaktapur Finance Company Limited.
• To endorse Due Diligence Audit report for the final merger process.
• To approve share swap ratio at 1:1.
• After the merger process, to appoint BOD member from promoter and public shareholders group.
• To authorize BOD to complete necessary procedure required for merger process.
• The tenure of the existing BOD members will dissolve automatically after the formation of new BOD. The tenure of the new BOD will exist until the conduction of first AGM of the newly merged entity.
• To endorse the expenses done for the merger process of both finance companies.
• After completion of bonus share distribution and merger process, its paid up capital and share structure will change and amend article of association accordingly.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Trading of Central Finance has also been halted since Chaitra 29, 2072 for the merger process. Hence, the particular date will be considered as book closure date. Only those shareholders owning shares till Chaitra 28, 2072 are entitled to the dividend of the company. Central Finance has earned net profit of Rs 29.92 lakh in the first quarter of the FY 2073/74. It has paid up capital of Rs 24.67 crore. After distribution of 22.5% bonus share, its paid up capital will reach to Rs 30.22 crore.