Central Finance SGM on Shrawan 10; to endorse 50% right share

Central Finance Limited (CFCL) is going to conduct its Special General Meeting (SGM) on Shrawan 10, 2074. The SGM will be held at Sthaniya Bikas Prasikshan Pratisthan, Jawalakhel, Lalitpur at 1:00 PM. The main agendas of the SGM are:

• To endorse 50 percent right share from its paid up capital.
• After issuance of right share, its capital will increase and ament the article of association accordingly.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Earlier, the finance company had decided to postpone the decision to issue 50% right share, prioritizing merger/acquisition with other appropriate BFIs. The register of their shareholders will be closed on Shrawan 2, 2074 for the purpose of this SGM. Only those shareholders having shares before that day are eligible for participation in the SGM. After its merger with Bhaktapur Finance, its paid up capital has reached Rs 52.66 crore. After the issuance of proposed 50% right shares, its paid up capital will reach around Rs 79 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 not resumed in NEPSE after the merger. Till the end of third quarter this year, it has earned net profit of Rs 5.87 crore.