Jebils Finance’s SGM on Ashad 23; to endorse further 40% right share

Jebils Finance Limited (JEFL) will be convening its Special General Meeting (SGM) on Ashad 23, 2074. The SGM will be held at Kalimati Banquet, Kalimati, Kathmandu at 12:15 PM. Main agendas of the SGM are:

• To endorse 40% right share to its shareholders after issuance of 100% right share that was endorsed by its 7th AGM (is currently in SEBON's right share pipeline)
• To authorize BOD to endorse merger/acquisition process with other BFIs and appoint auditor for Due Diligence Audit (DDA).
• To amend Article of Association and Memorandum of Association as per directed by registrar officer or Nepal Rastra Bank.

The register of its shareholders will remain close on Ashad 12, 2074 for the purpose of its SGM. JEFL has earned net profit of Rs 1.94 crore in the third quarter of the FY 2073/74. As the deadline for national level finance companies to increase their paid up capital to a minimum of Rs 80 crore by the end of FY 2073/74 is coming near, JEFL has chosen to increase its capital by the way of issuance of right shares. After the issuance of 100% right shares, it will float the 40% right shares—taking its paid up capital to Rs 80.90 crore from existing Rs 28.89 crore. JEFL’s upcoming 100% right share is in SEBON pipeline for requesting approval.