First Microfinance 8th AGM today; to endorse 15% bonus & 50% right share

First Microfinance Development Bank Limited (FMDBL) is convening its 8th Annual General Meeting (AGM) today (Ashwin 8, 2074). The AGM is being held at Amrapali Banquet, Bhatbhateni, 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 2073/74.
• 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 39.67 crore to Rs 68.43 crore.

• 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 2073/74 and appointment of auditor for the FY 2074/75. Only those shareholders owning shares till Bhadra 26, 2074 are entitled to the bonus share of the company and separate book closure for the right issue will be published. The register of their shareholders was close from Bhadra 27, 2074 to Ashwin 8, 2074 for the purpose of its upcoming AGM. First Microfinance has earned net profit of Rs 8.02 crore in the fourth quarter of the fiscal year 2073/74. Its paid up capital stands at Rs 39.67 crore and after the issuance of 15% bonus share and 50% right shares, paid up capital will rise to Rs 68.43 crore.