Nerude Laghubitta 9th AGM on Poush 29; to endorse 44% bonus & issuance of 50% right share

Nerude Laghubitta Bikas Bank Limited (NLBBL) will be convening its 9^thAnnual General Meeting (AGM) on Poush 29, 2072. The AGM will be held at Udhyog Sangathan Morang Meeting Hall, Biratnagar at 11:00 AM. Main agendas of the AGM are:

• To endorse 44% bonus shares and 2.32 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2071/72.
• To endorse issuance of 2:1 (50%) right share to increase the paid up capital
• To increase authorized capital up to Rs 40 crore from existing Rs 20 crore.
• To amend article of association per directed by registrar officer or the Nepal Rastra Bank.

Other main agendas of the AGM include financial highlights of 2071/72, appointment of auditor and to elect 3 BOD member from promoter shareholder group. Only those shareholders owning shares till Poush 13 will be entitled to the dividend of the company. The register of their shareholders will remain close from Poush 14, 2072 till Poush 29, 2072 for the purpose of its upcoming (AGM). Nerude Laghubitta has earned a net profit of Rs 8 crore in the first quarter of current fiscal year. It’s paid up capital remains at 12.50 crore. After 44 percent bonus it’s paid up capital will rise to 18 crore.