Kathmandu. The Rural Development Microfinance Institution has convened its 10th annual general meeting.
A meeting of the board of directors of the association has decided to hold its annual general meeting on July 15. The meeting will begin at 11:00 am at the organization’s head office in Butwal, Rupandehi. The meeting will also be held virtually.
The assembly will pass a special resolution on the merger between rural development and social microfinance. At present, the issued and paid-up capital of the organization is Rs 982.5 million and that of Samaj Laghubitta is Rs 22.85 million.
The meeting will pass a proposal to approve the merger of the two companies by maintaining a share swap ratio of 1:1. The assembly will approve all the procedures and activities carried out so far for the merger between the two entities.
After the merger, the assembly will also pass a proposal to carry out integrated transactions under the name mentioned in the final approval of Nepal Rastra Bank. A special resolution will be passed authorising the board of directors to carry out any changes or additions in the management letter and regulations if suggestions and instructions are received from the regulatory bodies to do so accordingly.
Last fiscal year 2080. It will approve the annual and auditor’s report of 81 and the current fiscal year 2081. It will approve the proposal regarding the appointment of an auditor and determination of his remuneration for 82.
The organization has decided to close the book for the purpose of the annual general meeting on June 15. This means that only the shareholders who have been in place before June 15 will be eligible to participate in the annual general meeting of the organization.
