Central Finance SGM today; to endorse 50% right share

Central Finance Limited (CFCL) is conducting its Special General Meeting (SGM) today (Shwaran 10, 2074). The SGM is being held at Nepal Prasasanik Prasikshan Pratisthan, Prithvi Hall, 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 amend the Article of Association accordingly.
• Authorize BOD to endorse merger/ acquisition process with other BFIs and complete necessary procedure such as Memorandam of Understanding (MOU) and Due Diligence Audit (DDA).
• To amend Article of Association and Memorandum of Association as per directed by registrar officer or Nepal Rastra Bank.

The register of their shareholders has been closed on Jestha 14, 2074 for the purpose of this SGM. Only those shareholders having shares before Jestha 13, 2074 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.