Kathmandu. Deprox Laghubitta Bittiya Sanstha has called its 24th Annual General Meeting.
A meeting of the Board of Directors of the Association held on Sunday decided to hold the general meeting on January 12. The assembly will begin at 10:00 am at Hotel 7 in Sauraha, Chitwan.
The meeting held the last fiscal year 2081. The company will approve a total dividend of 15 percent of the current paid-up capital proposed for the company. This includes 10 percent bonus shares and 5 percent cash dividend.
The AGM will endorse a proposal to amend the Regulations and Memorandum of Association accordingly as the issued and paid-up capital will increase after the distribution of bonus shares. The meeting will also endorse a proposal authorizing the Board of Directors to make amendments to the Memorandum of Association and Articles of Association, if any, received from the regulatory bodies.
The meeting will approve the annual report of the last fiscal year and the financial report of the auditor and approve the proposal regarding the appointment of the auditor for the current fiscal year and determination of his/her remuneration.
The meeting shall endorse a special proposal assigning all authority to the Board of Directors to proceed with the necessary process for merger or acquisition of other suitable microfinance institutions. The AGM will elect 1 director from promoter group and 3 directors from general group.
The organization has decided to close the book on January 30 for the purpose of dividends and meetings. This means that only the shareholders who have been held before January 16 will be eligible to receive the dividend and participate in the meeting.
