Srijana Finance proposes 32.50% bonus share; Paid up to reach Rs 40.06 cr; Trading suspended in Nepse for inquiry

Srijana Finance Limited (SFFIL) has decided to distribute 32.50 percent bonus share to its shareholders. As per the notice published in NEPSE today, the 177^th BOD meeting of the development bank held on Kartik 6, 2074 has proposed 32.50 percent bonus share and cash dividend  for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2073/74. The decision is subjected to approval from Nepal Rastra Bank and the finance company’s upcoming Annual General Meeting (AGM). Last year, SFFIL had distributed 50% bonus share to its shareholders. SFFIL has earned net profit of Rs 13.50 crore in the fourth quarter of the fiscal year 2073/74 as per unaudited report. Its paid up capital currently stand at Rs 30.24 crore.  After issuance of 32.50% bonus share, the paid up capital will reach Rs 40.06 crore.As a 1-3 district level finance company, SFFIL will meet the capital requirement of  Rs 40 crore after this bonus as per NRB’s directive. Meanwhile, the trading of Srijana Finance has been suspended in Nepal Stock Exchange. As per the notice published in NEPSE, “The security Srijana Finance has been now suspended for the inquiry purpose.” Murahari Parajuli, Spokeperson of NEPSE said “The BOD meeting of the company was held on Kartik 6, 2074 and the notice was send only on Kartik 19 to Nepse. So, we have suspended the trading of the company for inquiring about the delay in providing the notice to Nepse.”