Mirmire Microfinance’s SGM today, to endorse 1:1 right shares

Mirmire Microfinance Development Bank Limited (MMFDB) is conducting its Special General Meeting (SGM) today (Bhadra 26, 2074). The 114^th BOD meeting of the company held on Shrawan 29, 2074 has decided to hold SGM. The main agendas of the SGM are:

• To endorse 100 percent right share from its paid up capital worth Rs 4.5 crore.
• To add 10 more working districts.
• To increase the authorized capital to Rs 20 crore.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

The register of their shareholders was closed on Bhadra 7, 2074 to Bhadra 16, 2074 for the purpose of this SGM. Only those shareholders holding shares till Bhadra 6, 2074 are eligible for participation in the SGM. Mirmire Microfinance has a paid up capital of Rs 3 crores with reserve of Rs 3.92 crores in Q4 of the fiscal year 2073/74. The microfinance company has recently issued 50% right share to its shareholders. After the adjustment of 50% right shares, its paid up capital has reached Rs 4.5 crore. Furthermore, after 100% right shares, its paid up capital will reach Rs 9 crore. Mirmire Microfinance has net profit of Rs 1.54 crore in the Q4 of fiscal year 2073/74. Its EPS stands at Rs 51.59. Its LTP stands at Rs 3205 as of September 10, 2017.