Naya Nepal Laghubitta 9th AGM on Poush 27; endorsing 20% bonus & 250% right shares

Naya Nepal Laghubitta Bikas Bank Limited (NNLB) will be convening 5^th Annual General Meeting (AGM) on Poush 27, 2074. The AGM is going to be held at Hotel Jugal, Dhulikhel, Kavre at 11:00 AM. The main agendas of the AGM are:

• To endorse 20% bonus shares and 1.08% cash dividend from the net profit of FY 2073/74.
• To endorse 250% right shares
• To increase authorized capital, issued capital and paid up capital.
• To change the name and address of the company.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of the FY 2073/74 and appointment of auditor for the FY 2074/75. The microfinance company has set the book closure date from Poush 12 to Poush 27, 2074. Thus only those shareholders holding shares till Poush 11, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM and proposed dividend. Separate book closure date will be announced for right shares. The 221^st board meeting of the microfinance company held on Mangsir 8, 2074 had announced 20% stock and 1.05% cash dividend for tax purpose to its shareholders from the net profit of FY 2073/74. The same meeting has also proposed right share in the ratio 1:2.5 (250%) after issuance of bonus share to its shareholders. NNLB had earned Rs 2.69 lakh in the first quarter of the current fiscal year 2074/75. After the issuance of this bonus and right shares, its paid up capital will reach Rs 8.4 crore from existing Rs 2 crore. Its last traded price stand at Rs 3,089 as of last trading day.