Janaki Finance 20th AGM today; to approve 10% bonus share

Janaki Finance Company Limited (JFL) will be convening its 20^th Annual General Meeting (AGM) today (Poush 25, 2073). The AGM is going to be held at Janakpur Udhyog Banijya Meeting Hall. Main agendas of the AGM are:

• To endorse 10% bonus shares and Rs 16,35,689.47 cash dividend (including for tax purpose) from the net profit it earned from the fiscal year 2072/73.
• After issuance of bonus share, its issued and paid up capital will increase to Rs 34.18 crore from the existing Rs 31.07 crore, and amend Article of Association accordingly.
• To initiate merger/acquisition process with other BFIs by endorsing Memorandum of Understanding (MOU) for the merger/acquisition process and appoint auditor for Due Diligence Audit (DDA). The finance company was unable to complete merger process with Sahayogi Bikas Bank Ltd.
• To amend article of association and memorandum of association as per directed by registrar office or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of the FY 2072/73 and appointment of auditor. Only those shares registered one day ahead of the book closure date, i.e. today (Poush 4, 2073) were eligible for the bonus shares. The register of their shareholders was closed from Poush 5, 2073 till Poush 25, 2073 for the purpose of this AGM. Janaki Finance has earned net profit of Rs 1.75 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. Its paid up capital remains at Rs 31.07 crore. After adjustment of 10% bonus share distribution, its paid up capital will reach to Rs 34.17 crore.