Kathmandu. NRN Infrastructure and Development (NRN) has fixed the book closure date for the AGM and dividend distribution. The company will close the book on November 11. Therefore, the shareholders who have been traded in NEPSE till November 26 will be able to participate in the AGM of the company and receive the dividend to be distributed.
The current paid up capital of Rs 1.28 billion is Rs 42.42 billion from the profit of the current fiscal year. The government has decided to distribute 105 percent dividend. This includes 40 percent bonus shares and 2.105 percent cash dividend.
Similarly, the meeting of the Board of Directors has called its 13th annual general meeting on December 20. The assembly will begin at 9:00 am at Amrapali Banquet in Thirbam Road, Kathmandu. After the approval of the dividend by the same meeting, the shareholders will get the dividend.
The AGM will also endorse a special proposal of issuing 100% right shares in the ratio of 1:1 of the paid-up capital to be maintained after the bonus share distribution. The AGM will endorse a special proposal to amend the Memorandum of Association and Articles of Association accordingly as the issued and paid-up capital of the company will increase after the distribution of bonus shares.
The AGM will endorse a proposal to establish a fund management company as a subsidiary company with 51 percent ownership in the company for the purpose of managing the specialized fund and delegate authority to the Board of Directors to carry out necessary works in this regard. The meeting will approve the annual report of the last fiscal year and the auditor’s report and approve the proposal regarding the appointment of the auditor and determination of his/her remuneration for the current fiscal year.
