Summit Laghubitta to conduct SGM on Shrawan 4; endorse agendas of 100% right shares and change promoter:public ratio to 51:49

The 179th BOD meeting of Summit Laghubitta Bittiya Sanstha Limited (SMFDB) has decided to conduct Special General Meeting (SGM) of the company on Shrawan 4, 2076 (20th July, 2019).

For this purpose, the books of the company will remain closed on Ashadh 27, 2076. Investors holding shares of the company till Ashadh 26, 2076 will be eligible to participate in the SGM of the company.

The agenda of the SGM is to appoint auditor, valuator etc. for Due Diligence Audit Report for the purpose of merger and acquisition with another appropriate microfinance institutions. The SGM will also endorse decision to distribute 100% right shares after the completion of merger and acquisition process.

The SGM is also endorsing the agendas to change capital structure from existing promoter(70%) and public(30%) to promoter(51%) and public(49%).

Other agendas include increasing the authorized paid up capital of the company and making necessary changes in the memorandum and articles of the company.