Abhiyan Laghubitta Bittiya Sanstha Limited is going to hold its sixth annual general meeting on Ashad 30 to endorse 100 percent right shares.
AGM Date and Venue
Abhiyan Laghubitta Bittiya Sanstha Limited has announced that its sixth Annual General Meeting (AGM) will be held on Ashad 30. The meeting will start at 11:00 AM at the Tamrakar Party Venue, which is located in Panauti Municipality-4 of Kavrepalanchok district.
Financial Reports and Auditor Appointment
The meeting will discuss and approve the annual report for fiscal year 2081/82. The shareholders will also discuss the auditor’s report, balance sheet, profit and loss account, and the cash flow statement. Furthermore, the AGM will pass proposal to appoint an external auditor for the fiscal year 2082/83 and determine their salary.
100 Percent Right Shares Approval
A major highlight of this meeting is the special proposal to approve 100 percent right shares. If regulatory bodies give their approval, the company will issue these right shares in a 1:1 ratio. This means shareholders can buy one new share for every one share they currently hold at a face value of Rs. 100 per share. The meeting will also authorize Board of Directors to make any necessary changes to this plan if required.
Merger and Acquisition Plans
Another key agenda for the AGM is about merger and acquisition. The board wants authority to start talks for merging with other ‘D’ class microfinance institutions licensed by Nepal Rastra Bank. This includes forming committees, appointing asset valuers, signing the memorandum of understanding, and doing other necessary works. Finally, the shareholders will give full authority to the board to amend company’s memorandum and articles of association as per instructions from Nepal Rastra Bank, Securities Board of Nepal, and Office of the Company Registrar.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
