Jebils Finance endorses 1.24% bonus; Endorsement subject to approval from NRB and AGM

Jebils Finance (JEFL) has endorsed 1.24% bonus shares worth Rs. 1 crore 32 lakh 561 and Rs 5 lakh 28 thousand 29 as cash dividend for tax purposes, from the profit of FY 2074/75.

The endorsement was passed from the 187th Board meeting held on Chaitra 13, 2075.

The proposed dividend is subject to approval from Nepal Rastra Bank and the upcoming Annual Genrel Meeting of the Finance Company.

The paid-up capital of the company was Rs 57.79 crore as of Ashad end 2075. After that, the company had issued 40% right shares, increasing the capital to Rs 80.90 crore. The proposed bonus of 1.24% is calculated as a percentage of the current paid-up capital of Rs 80.90 crore.

Earlier, JEFL had proposed 10% bonus shares of Rs 2.88 crore on its 160^th BOD meeting held on 29^th Poush, 2074. Then the finance company paid up capital was Rs 28.89. Later the company had issued 100% right share to make its capital to Rs 57.79 crore and again 40% right share to make its paid up capital to Rs 80.90 crore now.

Thus, after the adjustment of both FY bonus share the paid-up capital of JEFL will reach Rs 84.80 crore.

Also, Nepal Investment Bank Limited (NIB) and Jebils Finance Limited (JEFL) had signed a memorandum of understanding (MoU) on Falgun 26, 2075 for the acquisition of JEFL by NIB. NIB 507th BOD meeting held yesterday at 3:30 PM had approved this decision.