Summit Laghubitta Re-announces AGM on 3rd Ashad to Endorse Dividend, Share Swap Ratio and Discuss FPO Issuance

Summit Laghubitta Bittiya Sanstha Limited (SMFDB) has re-announced its 14th AGM on 3rd Ashad, 2080 which was supposed to be conducted 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 for merger has been changed from 100:82 to 100:73, meaning for every 100 units of Summit's shares, the shareholders will receive 73 units of National Microfinance shares.

The AGM will also discuss issuing Further Public Offerings (FPO) of 853,665 units at premium prices to the general public to increase the public shareholding ratio of the company to 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. 65 Crores

The book closure date is on Jestha 22. Thus, shareholders maintained before that day are entitled to the dividend payout and can also attend this AGM.

AGM Notice