Reliable Microfinance 4th AGM today; to endorse 50% right share & 20% cash dividend

Reliable Microfinance Bittiya Sanstha Limited (RMFL) is convening its 4^th Annual General Meeting (AGM) today (Mangsir 19, 2073). The AGM is being held at Gateway Himalayan Resort, Besisahar, Lamjung at 10: 00 AM. Main agendas of the AGM are:

• To endorse 2:1 (50%) percent right share to its shareholders.
• To endorse 20% cash dividend to its shareholders from the profit it earned in the last fiscal year 2072/73.

• After right share issuance, it’s issued and paid up capital will increase and to amend the article of association accordingly.
• To increase branches in 5 more district from existing 10 branches.
• To increase allowance of BOD members.
• 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 Mangsir 6, 2073 were entitled to the dividend of the company. The register of their shareholders was closed from Mangsir 7, 2073 till Mangsir 13, 2073 for the purpose of its AGM. Reliable Microfinance has earned net profit of Rs 37.54 lakh in the first quarter of the fiscal year 2073/74 as per unaudited report. It’s paid up capital remains at Rs 5.65 crore. After issuance of 50% right share its paid capital will rise to Rs 8.47 crore.