Kaski Finance 9th AGM today; to approve 17.26% stock dividend

Pokhara based Kaski Finance Limited (KAFIL) is holding its 9thAnnual General Meeting (AGM) today (Bhadra 29, 2072). The AGM is held at Hotel Pokhara Grand Hotel, Pokharaat 8 AM. The main agenda of the AGM is to endorse 17.26 percent bonus share and 0.91 percent cash dividend for tax purpose. After the bonus share issuance the paid up capital and issued capital will increase to Rs 33, 25, 28,300 and Rs 33,25, 28,300 respectively. Another main agenda is conversion of promoter – public shareholder structure to 51% promoter shares and 49% ordinary shares. After the conversion, the promoter share to ordinary share ratio of the finance will stand at 51:49 percent. The others agendas of the meeting are to elect 5 BOD members from promoter shareholders, to approve financial highlights of 2071/72, appointment of auditor, amend article of association and merger. KAFIL had earned net profit of Rs. 6 crore 42 lakh in fourth quarter of the fiscal year 2071/72. Recently, Kaski Finance had signed a Memorandum of Understanding (MOU) with Pokhara based KamanaBikas Bank Limited(KMBL) for the merger to form a National level development bank, which will be named KamanaBikas Bank Limited with the logo of Kaski Finance Limited.