Nerude Laghubitta 10th AGM today; to approve 20% bonus share

Nerude Laghubitta Bikas Bank Limited (NLBBL) is convening its 10^th Annual General Meeting (AGM) today (Chaitra 31, 2073). The AGM is being held at Morang Industry Association Meeting Hall, Biratnagar at 11:00 AM. Main agendas of the AGM are:

• To endorse 20% bonus shares and 11.05 percent cash dividend (including for tax purpose) from the net profit it earned in the fiscal year 2072/73.
• To amend Article of Association and Memorandum of Association as per directed by company registrar office or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of the FY 2072/73, appointment of auditor and to elect 2 BOD member from promoter and 2 BOD member from public shareholders group. The register of their shareholders has been closed from Falgun 30, 2073 till Chaitra 31, 2073 for the purpose of this AGM. Only those shares traded one day ahead of the book closure date i.e. Falgun 26, 2073 are eligible for the bonus shares and for participation in the AGM. Nerude Laghubitta had earned net profit of Rs. 4.65 crore in the second quarter of the current fiscal year 2073/74. The paid up capital of the bank stands at Rs 18 crore. The company has also announced 20% bonus share for the FY 2073/74. After issuance of bonus and right shares, its paid up capital will reach Rs 30.6 crore.