Summit Laghubitta Calls AGM on Jestha 30 to Endorse 14.27% Dividend, Discuss FPO Issuance and Merger-Related Agendas
Tue, May 23, 2023 10:27 AM on Latest, Dividend, Bonus & Rights, IPO/FPO News, AGM/Special AGM, Book Closure, Merger/Acquistion,
Summit Laghubitta Bittiya Sanstha Limited (SMFDB) has called its 14th AGM on 30th Jestha, 2080. The meeting will be held in Arniko Party Palace, Banepa, starting at 10:30 AM that day.
Among the other agendas, the AGM will endorse a 14.276582% dividend for the fiscal year 2078/79. The 33rd meeting of the board of directors held on Falgun 15 decided to distribute the dividend on the paid-up capital of Rs. 49.40 crores. 13.562753 percent bonus dividend worth Rs 6.70 Crores and 0.713829 percent cash dividend worth Rs 35.26 Lakh (Tax Purpose) has been proposed.
Furthermore, the meeting will pass a resolution regarding evaluating and endorsing the Due Diligence Audit and Memorandum of Understanding for a merger between Summit Laghubitta and National Microfinance Laghubitta Bittiya Sanstha Limited (NMFBS). For the merger between NMFBS and SMFDB, the share swap ratio of 100:82 has been fixed i.e., for every 100 units of Summit’s shares, the shareholders will get 82-unit shares of National Microfinance.
The AGM will also discuss issuing Further Public Offerings (FPO) to the general public to increase the public shareholding ratio of the company by 30 percent. The current promoter to a public shareholding ratio of the company is 80.63: 19.37. There's also an agenda to increase the authorized capital to Rs. 70 Crores
The book closure date is on Jestha 18. Thus, shareholders maintained before that day are entitled to the dividend payout and can also attend this AGM.