Summit Microfinance 7th AGM on Poush 30; to approve 41.72% bonus share

Summit Microfinance Development Bank Limited (SMFDB) will be convening its 7^thAnnual General Meeting (AGM) on Poush 30, 2072. The AGM will be held at Atithi Sadan-1, Jhapa at 8:30 AM. Main agendas of the AGM are:

• To endorse 41.7234% bonus shares and 2.19 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2071/72. After issuance of bonus share to increase paid up and issued capital and amend article of association accordingly.
• To increase authorized and issued capital accordingly.
• To change the address of central office of the bank.
• To amend article of association per directed by registrar officer or the Nepal Rastra Bank.

Other main agendas of the AGM include financial highlights of 2071/72 and appointment of auditor. Only those shareholders owning shares till Poush 14 will be entitled to the dividend of the company. The register of their shareholders will remain close from Poush 16, 2072 till Poush 30, 2072 for the purpose of its upcoming (AGM). Summit Microfinancehas earned a net profit of Rs 84.15 lakh in the current fiscal year 2072/73. It’s paid up capital remains at 3.52 crore. After 41.7234 percent bonus it’s paid up capital will rise to 4.98 crore.