Kalika Microcredit’s 7th AGM on Baisakh 23; to endorse 65% bonus share

Kalika Microcredit Development Bank Limited (KMCDB) is going to convene its 7^th Annual General Meeting (AGM) on Baisakh 23, 2074. The AGM is going to be held at Hotel Venus, Waling, Syangja at 11:00 AM. The main agendas of the AGM are:

1. To endorse 65% bonus share on its current paid up capital of Rs 5 crore and cash dividend worth Rs 17.10 lakh (for tax purpose)
2. To add 5 more districts (Baglung, Rolpa, Salyan, Surkhet, Doti) on its working belt and increase its working area to a total of 15 districts
3. To work as insurance agent for insurance companies, and make necessary adjustments in its Article of Association (AOA) and Memorandum of Association (MOA)
4. To shift its central office to Pokhara
5. To make necessary adjustments in MOA regarding facilities provided to the BOD

Other agendas of the AGM include endorsement of financial statements of FY 2072/73 and appointment of auditor for FY 2073/74. The register of their shareholders will remain closed from Baisakh 4 to Baisakh 23, 2074 for the purpose of this AGM. Only those shareholders holding shares that have been traded one trading day ahead of the book closure date i.e. till Baisakh 3, 2073 are eligible for the bonus shares and for participation in the AGM. KMCDB has earned net profit of Rs 1.39 crore in the second quarter of the FY 2073/74. Its current paid up capital stands at Rs 5 crore, and after issuance of 65% bonus shares, its paid up capital will reach Rs 8.25 crore.