Seti Finance 10th AGM on Chaitra 20; to approve 14% stock dividend

Seti Finance Limited (SETI) is convening its 10th Annual General Meeting (AGM) on Chaitra 20, 2072. The AGM is going to be held at Tikapur Udhyog Banijya Sangh , Conference Hall, Tikapur,  Kailali at 11:00 AM. Main agendas of the AGM are:

• To approve 14 percent bonus share and cash dividend Rs 431711.91 (for tax purpose) from the net profit it earned from the fiscal year 2071/72.
• To increase authorized capital to Rs 16 crore , issued and paid up capital to Rs 15.86 crore respectively.
• To issue 1:1. 5 right share after the bonus share distribution.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.
• Authorized BOD to initiate merger/acquisition process with other BFI.

Other Agendas of the AGM include financial highlights of 2071/72, election of 4 BOD members from promoter shareholders and 3 from public shareholders   and appointment of auditor. Only those shareholders owning shares till Chaitra 4 will be entitled to the bonus share and cash dividend of the company. The register of their shareholders will be closed from Chaitra 5, 2072 till Chaitra 20, 2072 for the purpose of its upcoming AGM. Seti Finance earned net profit of Rs 12.06 lakh in the second quarter of the fiscal year 2072/73.