Vijaya Laghubitta to approve 20% dividend; 4th AGM today

Vijaya Laghubitta Bittiya Sanstha Limited (VLBS) is holding its 4^th Annual General Meeting (AGM) today (Mangsir 27, 2073). The meeting is being held at Bharatpur Garden Resort, Bharatpur Height, Chitwan at 11:00 AM. The main agendas of the AGM are:

• To endorse 15 percent bonus share and 5 percent cash dividend including for tax purpose from the net profit it earned from the fiscal year 2072/73.
• To increase issued and paid up capital amend article of association accordingly.
• To authorize BOD to endorse memorandum of understanding (MOU) for the merger/acquisition process and appoint auditor for Due Diligence Audit (DDA).
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of the FY 2072/73, appointment of auditor and election of BOD member from promoter shareholders group. The register of their shareholders was closed from Mangsir 7, 2073 till Mangsir 27, 2073 for the purpose of its AGM. Only those shares registered one day ahead of the book closure date, i.e. Mangsir 6, 2073 were eligible for the bonus shares. VLBS has net profit of Rs 75.37 lakh in the first quarter of the current fiscal year 2073/74. The paid up capital of the microfinance company stands at Rs 14 crore. After issuance of 15% bonus share, its paid up capital will reach to Rs 16.1 crore.