Kathmandu. The 17th Annual General Meeting (AGM) of Prabhu Capital was held today, September 26. The meeting was held at the Royal Singi Hotel, Kamaladi.
The AGM has approved the report of the Board of Directors for the fiscal year 2081/82 presented by the Chairman on behalf of the Board of Directors. The meeting also reviewed and approved the balance sheet of Prabhu Capital Limited up to the fiscal year 2081/82 along with the auditor’s report, profit or loss account, cash flow statement and other related schedules.
The meeting discussed and passed the proposal regarding the auditor for the fiscal year 2081/82 and the proposal to appoint the auditor for the fiscal year 2082/83 and determine the remuneration of the auditor for the fiscal year 2082/83 as per the section 111 of the Companies Act, 2063.
The AGM has approved the proposal of distributing cash dividend of 8.6316% of the current paid-up capital (including bonus shares and cash dividend for tax purposes) out of the total 12.6316% to be distributed to the shareholders from the financial statements of FY 2081/82.
The meeting approved the appointment of directors and independent directors and approved the expenditure incurred under corporate social responsibility.
The AGM has approved the proposal of distributing bonus shares equivalent to 4% of the current paid-up capital for the fiscal year 2081/82 as proposed by the Board of Directors. The AGM has approved the proposal related to increase of authorized and issued and paid-up capital of Capital due to the distribution of bonus shares.
The meeting passed various proposals including making a special proposal to make necessary amendments to the Memorandum of Association and Articles of Association and granting authority to the Board of Directors to amend the Memorandum of Association and Articles of Association as per the directives from the regulatory body or office.
