Pokhara Finance 20th AGM today; to endorse 13.50 % bonus & 15% right share; to float 9.83 lakh unit FPO shares

Pokhara Finance Limited (PFL) is convening its 20^th Annual General Meeting (AGM) today (Kartik 9, 2073). The AGM is being held at Hotel Pokhara Grand, Pardi, Pokhara at 9: 00 AM. Main agendas of the AGM are:

• To endorse 13.50 percent bonus shares and 0.71 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2072/73. After bonus share is issued its paid up & issued capital will increase and amend Article of Association accordingly.
• After 13.50 % bonus share distribution in Rs 49.11 crore paid up capital, its total share units will reach to 55, 74,202.92 . So to maintain its promoter –public shares structure at 51:49, the company will release 9,83,682 units shares of the total share units as Further Public Offering (FPO) at premium price.
• To endorse 1:0.15 ratio right shares after FPO is floated completely.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other main agendas of the AGM include financial highlights of 2072/73 and appointment of auditor. Only those shareholders owning shares till Ashwin 17, 2073 are entitled to the bonus share of the company. The register of their shareholders has been closed from Ashwin 18, 2073 till Kartik 9, 2073 for the purpose of its AGM. A separate book closure date will be published for the right share. Pokhara Finance had earned net profit of Rs 8.7 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 49.11 crore and after the issuance of 13.50% bonus share the paid up capital will rise to Rs 55.73 crore.