Nerude & Womi Microfinance AGM today; to endorse 44% & 20% stock dividend respectively

Nerude Laghubitta Bikas Bank Limited (NLBBL) is convening its 9^thAnnual General Meeting (AGM) today (Poush 29, 2072). The AGM is going to 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 is entitled to the dividend of the company. The register of their shareholders has been closed from Poush 14, 2072 till today for the purpose of its AGM. Nerude Laghubitta has earned a net profit of Rs 8 crore in the last 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. Likewise, Womi Microfinance Bittiya Sanstha Limited (WOMI) is convening its 4^thAnnual General Meeting (AGM) today. The AGM is going to be held at Womi Microfinance Head office, Khanikhola,Naubise, Dhading at11:30 AM. Main Agendas of the AGM are:

• To endorse 20 percent bonus share and 1.10 percent cash dividend for tax purpose to its shareholders.
• To increase authorized capital, issued capital and paid up capital.
• To amend the article of association as directed by registrar officer or the Nepal Rastra Bank.

Other agendas of the AGM include endorsement of financial highlights of 2071/72, appointment of auditor and to elect 3 BOD member from public shareholders group. Only those shareholders owning shares till Poush 15 is entitled to the dividend of the company. The register of their shareholders will remain close from Poush 16, 2072 till today for the purpose of its AGM, Womi had floated its IPO of 1, 47,000 unit shares from Ashad 22, 2072 to Ashad 25, 2072. Since the allotment took place through lottery, all allottees were eligible for a minimum of 10 unit shares. The microfinance had earned a net profit of Rs 62.03 lakh in its 2nd quarter of the fiscal year 2071/72. Its net worth per share stands at Rs 116.12 and earnings per share at Rs 26.77.