Summit Microfinance to approve 41.72% bonus share; 7th AGM today

Summit Microfinance Development Bank Limited (SMFDB) is convening its 7^thAnnual General Meeting (AGM) today (Poush 30, 2072). The AGM is going to 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 is entitled to the dividend of the company. The register of their shareholders has been closed from Poush 16, 2072 till today for the purpose of its AGM. Summit Microfinance had 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 41.7234percent bonus it’s paid up capital will rise to 4.98 crore.