First Microfinance 7th AGM today; to endorse 15% bonus & 50% right share

First Microfinance Development Bank Limited (FMDBL) is convening its 7th Annual General Meeting (AGM) today (Ashwin 19, 2073). The AGM is going to be held at Anupam Foodland and Banquet, Battisputali, Kathmandu at 11:00 AM. Main agendas of the AGM are:

• To endorse 15 percent bonus share and 0.79 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2072/73.
• To issue 2:1 (50%) right share after bonus share distribution and authorize BoD for necessary amendment.
• To increase Authorize, Issued and paid up capital from Rs 23 crore to Rs 39.67crore

• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other Agendas of the AGM include financial highlights of 2072/73, appointment of auditor and election of 3 members from public shareholders group. Only those shareholders owning shares till Ashwin 4, 2073 are entitled to the bonus share of the company. The register of their shareholders has been closed from Ashwin 5, 2073 till today for the purpose of its upcoming AGM. First Microfinance has earned net profit of Rs 5.44 crore in the fourth quarter of the fiscal year 2072/73 .It’s paid up capital stands at  Rs 23 crore and after the issuance of 15% bonus share the paid up capital will rise to Rs 26.45 crore.