Progressive Finance’s 20th AGM today; to endorse merger/acquisition process with other BFIs

Progressive Finance Limited (PROFL) is convening its 20^th Annual General Meeting (AGM) today (Ashad 29, 2074). The AGM is being held at Sankata Bhawan Meeting Hall, Lagantole, Kathmandu at 3 PM. Main agendas of the AGM are:

• To authorize BOD to endorse acquisition process with other BFIs and appoint auditor for Due Diligence Audit (DDA).
• To endorse memorandum of understanding (MOU) for the acquisition process.
• To amend Article of Association and Memorandum of Association as per directed by registrar officer or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of the fiscal year 2072/73 and appointment of auditor. The register of its shareholders was closed from Ashad 23, 2074 till Ashad 29, 2074 for the purpose of its AGM. Progressive Finance has earned Rs 1.16 crore in the third quarter of the fiscal year 2072/73. Its paid up capital stands at Rs 21 crore.