Book Closure for 100% right shares of Summit Microfinance on Bhadra 9; LTP at Rs 3606; Only 6 trading days left

Summit Microfinance Development Bank Ltd (SMFDB) has set book closure date for its upcoming 1:1 (100%) right shares. As per the notice published in NEPSE today, the microfinance company has decided to close the register of their shareholders on Bhadra 9, 2074 for the purpose of issuing right share. Only those shareholders that have shares traded ahead of the book closure date will be eligible to apply for the right shares, i.e. till Bhadra 7, 2074. SEBON had given approval for the issuance of right shares on Shrawan 23, 2074. Sanima Capital Limited has been assigned as the issue manager for right share issue. SMFDB will now be issuing 7,25,000 units right shares at a par value of Rs 100 per unit. After the issuance of 100% right shares, its paid up capital will reach Rs 15 crore. SMFDB has earned Rs 3.81crore in the third quarter of the FY 2073/74. Its annualized earning per share (EPS) stands at Rs 52.56 and net worth per share at Rs 225.89. Its last closing price stood at Rs 3606 as of August 15, 2016.