Shree Investment & Finance 22nd AGM on Ashwin 21; to endorse 10.50% bonus share & merger with Everest Finance
Fri, Sep 30, 2016 10:05 AM on Latest, Dividend, Bonus & Rights, Featured, AGM/Special AGM, Stock Market,
Shree Investment and Finance Company Limited (SIFC) will be convening its 22nd Annual General Meeting (AGM) on Ashwin 21, 2073. The AGM is going to be held at Amritbhog, Kalikasthan, Kathmandu at 10 AM.
The AGM has following agendas:
- To endorse 10.50 percent bonus share and 0.55 % cash dividend for tax purpose from the net profit it earned from the fiscal year 2072/73.
- To dismiss the proposal of increasing paid up and issued capital worth Rs 22 crore and tenure of Chief Executive Officer as approved by the 21st AGM of the finance company since the company is in the verge of merger.
- Authorized BOD to initiate merger process with Everest Finance Limited.
- To appoint auditor to do Due Diligence Audit for the purpose of merger.
- After the merger process, the new merged entity will be named as Shree Investment and Finance Company Limited.
- To increase its authorized and issued capital up to Rs 1 arba & Rs 39.91 crore respectively after merger. Also to change its promoter and public share structure to 53.31:46.69 percent and amend article of association accordingly.
- After the completion of merger process, to elect 3 BOD member from promoter shareholders group and 2 Bod member from public shareholders group.
- To amend Article of Association regarding the tenure of BoD members and CEO as directed by NRB.
- After the merger process of both bank to amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.
