Deprosc Laghubitta to endorse 100% right share; SGM today

Deprosc Laghubitta Bikash Bank limited (DDBL) is holding its Special General Meeting (SGM) today (Ashad 15, 2073) at Bharatpur Garden Resort, Bharatpur, Chitwan at 11:00 AM. The agendas of the meeting are as follows:

1. To endorse 1:1 (100%) right share to its existing shareholders.
2. Conversion of promoter – public shareholder structure to 51% promoter shares and 49% ordinary shares. After the conversion, the promoter share to ordinary share ratio of the microfinance will stand at 51:49 percent.
3. To elect 4 BOD member from promoter shareholders group and 3 BOD member from public shareholders group.
4. To increase authorized capital up to Rs 60 crore from existing Rs 30 crore.
5. After issuance of right share its paid up capital and issued capital will increase and to amend the article of association accordingly.
6. To amend article of association and memorandum of association as per directed by Nepal Rastra bank.

The register of the company has been closed from Ashad 5, 2073 to Ashad 15, 2072 for the purpose of its SGM. Deprosc Laghubitta had earned net profit of Rs 15.24 crore in the third quarter of the fiscal year 2072/73. It’s paid up capital stand at Rs 25.79 crore after issuance of 100% right share it’s paid up capital will reach Rs 51.58 crore.