Samudayik Laghubitta Bittiya Sanstha Limited is holding its 12th Annual General Meeting (AGM) today, Chaitra 27, 2083 B.S., at 11 AM at the Hotel Ugrachandi banquet hall. The company has stated that the meeting will review and approve key financial and operational decisions for the fiscal year 2081/82.
In the AGM, the annual report presented by the chairperson on behalf of the board of directors will be discussed and approved. The meeting will also pass financial statements for FY 2081/82, including the auditor’s report, balance sheet as of the end of Ashad 2082 B.S., profit and loss statement, and cash flow statement.
The agenda also includes the appointment of auditors for the fiscal year 2082/83 and the determination of their remuneration, in accordance with Section 111 of the Companies Act, 2063 B.S. and Section 63 of the Banks and Financial Institutions Act, 2073 B.S.
The AGM will also consider approval of the board’s decision to appoint an independent director. In terms of shareholding structure, the company currently holds 61.11% promoter shares and 38.89% public shares. A proposal to convert 8.65% of promoter shares into public shares will be presented, which would adjust the structure to 53.72% promoter holdings and 46.28% public shares.
Similarly, the meeting will review a proposal to proceed with merger discussions with other microfinance institutions and authorize the board of directors to take necessary steps in this regard. This includes obtaining regulatory approvals, amending the memorandum and articles of association if required, and undertaking all necessary procedures.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
