Nirdhan Utthan Microfinance convenes 20th AGM; proposed bonus shares also matches the AGM figure with 20% shares endorsed as bonus shares shooting paid up value up to Rs 1.2 arba

Nirdhan Utthan Microfinance has conducted its 20th AGM on Mangsir 25, 2075 at Naxal, Kathmandu. the AGM was chaired by chairman of the microfinance institution Mr. Ganesh Bahadur Thapa.  

As a major highlight, the AGM has endorsed the board’s proposal to provide 22.11% (20% bonus shares and remaining cash for tax purpose) dividend worth of Rs 22.10 crore to its existing shareholders for the paid up value of Rs 1 arba. The AGM has also endorsed the decision to nominate R. Parajuli and Associates, Chartered Accountant as the auditor for the microfinance thereby fixing the auditor fee at Rs 5 lakh.

Moreover, the AGM has also unanimously elected Mr. Devendra Bahadur Rawot as the BoD from the promoters shareholders group whereas Mr. Top Bahadur Rayamajhi and Mr. Samriddha Tiwari as two more BoDs from the public shareholders’ group.

The event was also attended by CEO of the company Mr. Janardan Dev Pant, Company Secretary Mr. Ram Bahadur Chaudhari,

The microfinance institution is currently providing range of rural microfinance services from its 181 branches, regional offices and a head office to more than 16 lakh individuals of rural Nepal aided by its strong employee presence of 1036 employees in all 7 provinces. The microfinance institution prioritizes opening its new branches at several rural locations of the nation including the recent branches at Rolpa and Jumla, as stated in the media statement.