Srijana Finance convenes its 20th AGM; endorses proposal of 13.59% dividend and acquisition by Citizens Bank in swap ratio of 95%

Mon, Mar 29, 2021 4:56 AM on Latest, Corporate,

Srijana Finance has convened its 20th AGM for the FY 2076-77 under the leadership of its chairman Mr. Suyash Pyakurel.

The AGM has endorsed the board’s proposal to provide 13.59% bonus shares and cash dividends to the shareholders, as per the media statement. The AGM has also agreed to restructure the shareholding position of the company where the promotors will now hold 52% shares while the general public will hold 48% shares, as per the media statement.

The board also informed that the finance company is in the process to be acquired it by Citizens Bank in the share swap ratio of 95%.

The finance company reported paid-up capital of Rs 96.30 crore, 1.60 lakh customers, Rs 8.50 Arba deposits, Rs 6.21 Arba in loan figure, and Rs 17.69 crore in net profit during the previous fiscal year, as per the statement.