Summit Microfinance 9th AGM on Poush 28; endorsing 34.48% bonus shares and 10.52% cash dividend

Summit Microfinance Development Bank Limited (SMFDB) will be convening 9th Annual General Meeting (AGM) on Poush 28, 2074. The AGM is going to be held at Aggression Building, Birtamode, Jhapa at 8:30 AM. The main agendas of the AGM are:
  • To endorse 34.48% bonus shares and 10.52% cash dividend from the net profit of FY 2073/74.
  • To conduct election of Board of Directors (BOD).
  • To increase authorized capital.
  • To change the name of the company.
  • To extend the working areas.
  • To change the registered office of the company.
  • To amend the Memorandum of Association (MOA) and Articles of Association (AOA).
Other agendas of the AGM are major financial highlights of the FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM has been set on Poush 14, 2074. Thus, only those shareholders owning their shares till Poush 13, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM. Its paid up capital will reach to Rs 17 crore after adjustment of bonus shares. It had earned Rs 82.01 lakh in the first quarter of the FY 2074/75.