Nagbeli Laghubitta to endorse 80% dividend &100% right share from its 7th AGM today

Nagbeli Laghubitta Bikash Bank Limited (NBBL) will be convening its 7^th Annual General Meeting (AGM) today (Poush 29, 2073). The AGM will be held at Adarsha Banquet Hall, Birtamod, Jhapa. Main agendas of the AGM are:

• To endorse 60% bonus shares and 20% cash dividend (including for tax purpose) from the net profit it earned from the fiscal year 2072/73.
• To endorse 1:1 (100%) right share to its shareholders.
• After issuance of bonus and right share, its issued and paid up capital will increase and amend Article of Association accordingly.
• To extend its working areas and reach its access up to10 more districts.
• To increase meeting allowance of BOD members and CEO of the microfinance company.
• To perform remittance transactions.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of the FY 2072/73, appointment of auditor and election of 1 BOD members from public shareholders group. Only those shares registered one day ahead of the book closure date, i.e. Poush 12, 2073 were eligible for the bonus shares. The register of their shareholders was closed from Poush 13, 2073 till Poush 29, 2073 for the purpose of its AGM. A separate book closure date will be published for the right shares. NBBL has earned net profit of Rs 87.59 lakh in the first quarter of the fiscal year 2073/74 as per unaudited report.