Seti Finance 11th AGM today; to endorse 3.60% bonus and 150% right share

Seti Finance Limited (SETI) is holding its 11^thAnnual General Meeting (AGM) today (Chaitra 30, 2073). The AGM is being held at the Auditorium Hall in Galaxy Café, Tikapur, Kailali at 11:00 AM. The main agendas of the AGM are:

1. To endorse bonus shares worth Rs 57.10 lakh (3.60% on its current paid up capital of Rs 15.86 crore) and cash dividend worth Rs 3.16 lakh for tax purpose
2. To endorse 150% right share after issuance of the above bonus share
3. To increase its authorized capital to Rs 42 crore and issued capital to Rs 41.08 crore
4. After issuance of bonus and right shares, its capital will increase—and amend its Article of Association and Memorandum of Association accordingly and as per directions received from regulatory authorities
5. To authorize BOD to endorse merger/acquisition with other BFIs

The register of their shareholders has been closed from Chaitra 21 to Chaitra 30, 2073 for the purpose of this AGM. Only those shareholders holding shares one trading day ahead of the book closure date i.e. Chaitra 20, 2073 are eligible for the bonus shares and for participation in the AGM. SETI has earned net profit of Rs 48.42 lakh in the second quarter of the fiscal year 2073/74. As a 1-district level finance company based in Kailali, SETI should increase its paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74. After the issuance of 150% right, it will need to increase its capital by a further 21.80%.